insurance rates


North Carolina car insurance rates are going up

  • March 3, 2023

North Carolina Rate Bureau submitted a rate filing with the N.C. Department of Insurance, requesting an increase in everyone’s car insurance.

GREENSBORO, N.C. — The North Carolina Rate Bureau has requested to increase auto insurance rates by 28.4%.

The rate filing was submitted yesterday to insurance commissioner mike causey.

The increase would impact private passenger car insurance rates across the state and would go into effect around October 1st of this year.

It’s no secret that prices are on the rise.. eggs.. gas… well now there’s a request to raise car insurance by 28.4%.

I know, I know.. that can seem like a shocking number.

Just because it was requested, doesn’t mean it’ll happen.

“It’s just crazy and the price just keeps going up. People just can’t afford that,” Jack Farrar, a driver in Greensboro said.

Drivers clearly aren’t happy. Would you be?

“That is a very high price to put on people right now when money is scarce,” Oman said as he was filling up his gas tank.

After the NC rate bureau requested a 28.4% car insurance increase.

“Things are getting crazy all over the world food gas insurance everything closes everything is getting really crazy so trying to reduce not raise it,” driver, Eiman Maki said. 

Don’t panic just yet.. this isn’t set in stone.

“It’s just a request that that is all that is it’s just a number that they believe is what they see is justified based on their experience,” Insurance Commissioner, Mike Causey said. 

The North Carolina Rate Bureau represents the auto insurance companies in our state. According to the law, rate fillings have to be submitted no later than February 1st every year.

Causey said this was a legislature set up decades ago that requires a rate set by the bureau system.


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Car insurance premiums are on the rise

  • February 26, 2023

Some Ontario insurers have received approval for rate hikes as high as 15 per cent

THUNDER BAY — Many drivers can expect to experience sticker shock when their car insurance policies come up for renewal this year.

In Ontario, the Financial Services Regulatory Authority has already approved insurance companies’ applications for rate increases as high 11 to 15 per cent, while others have been granted smaller hikes.

“Insurance rates are going to go up in the near term, because we’ve already seen rate approvals at FSRA come in. An insurer operating in Ontario has to apply to FSRA if they want to raise rates. It will look at the application and say ‘Yes, that makes sense based on your numbers. Your costs have gone up,’ ” explained John Shmuel of 

In interviews with TBnewswatch, Shmuel and a spokesperson for the Insurance Bureau of Canada cited multiple reasons for the rise in premiums.

Some of the recent increases are “the biggest ones I’ve seen in a long time,” said Shmuel, managing editor of the website that allows consumers to compare rates for a variety of financial products.

“If nothing else changes in the next few months, most people who are renewing will probably see an increase from their car insurance company.”

This may come as a surprise to many drivers, as during the COVID-19 pandemic over the past three years, insurers were offering rebates or discounts on existing premiums because people weren’t driving as much and the frequency of collisions declined.

According to the Insurance Bureau of Canada, premiums in Ontario actually fell by an average of 4.5 per cent from July 2021 to July 2022.

“That’s changed in the past six months,” Shmuel said. “We’ve seen traffic come back to pre-pandemic levels and exceed them in some cities,

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Average Auto Insurance Cost Soars Nearly 14% To $2,014

  • February 11, 2023

Insurance costs are climbing and drivers in Miami are paying an average of $3,447


The cheapest cars to insure in 2023

  • February 8, 2023
cars in traffic

olaser/Getty Images

When shopping for a large purchase, like a car, it’s not surprising that consumers want to find the best deals. When trying to budget for a vehicle, you probably consider the overall price, especially if you plan to get a loan. You might also consider the resale value and the fuel efficiency, given the higher cost of gasoline. But not everyone considers insurance costs. Some vehicles cost more to insure than others and over time, insurance rates can add up. Bankrate assessed auto insurance rates for the most popular car models to determine the cheapest cars to insure.

The 10 cheapest cars to insure

The cost to buy a new vehicle has skyrocketed since 2020, although used vehicle prices have started to fall since their peak in 2021. With inflation still elevated and car insurance rates rising to keep pace, you may be wondering if cheap car insurance could help offset some of these increased prices. While buying a different vehicle to get cheaper car insurance may seem like a drastic step, it could be a practical one, especially if you’re already in the market for a new or new-to-you ride.

Below, we showcase the 10 cheapest vehicles to insure based on our assessment of average rates for 27 vehicle makes and models. For comparison, the national average cost of car insurance is $2,014 per year for full coverage. We’ve included the average full coverage premium, as well as the starting manufacturer suggested retail price (MSRP), for each vehicle (remember that the MSRP will vary based on the trim package and optional features). We also highlight the percentage of the MSRP spent on car insurance, so you can decide if the average premium makes sense for the cost of the car, especially when compared to your financial

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How to save money on teen driver’s car insurance

  • August 1, 2022

For many teens, a driver’s license represents freedom and greater independence. For parents, a newly licensed teen driver can cause not only significant anxiety but a shocking surge in car insurance costs.

I almost fell to the floor when I opened the first auto insurance bill after adding my 16-year-old daughter to my policy. It was literally double the previous month. I was sure it was a mistake. Maybe I forgot to pay the previous month‘s bill? I immediately called my agent, who couldn’t offer much comfort. It’s correct, he said. Add a teen to your policy and your premium will soar.

“Insurance is all about risk, and rates are based on several factors, including who you are, where you are, what you drive, and how you drive,” says Allie Byers, spokesperson for insurance comparison website The Zebra.

For most carriers, the “who you are” includes age, which is a significant factor in determining a car insurance rate.

“Because teen drivers present a much higher risk than adult drivers, with higher chances of car accidents and fatalities on the road, their car insurance rates will be much higher,” says Byers.

We all have to start somewhere, but given that lack of experience, drivers through age 25 (or their parents) can expect to pay 115 percent more per year than the average driver — $1,667 per six-month policy, versus the US average of $774 — according to research conducted by insurance comparison site, The Zebra.

The good news is that parents and teens have options to save on teen car insurance rates, says Byers who suggests shopping around to start.

“You may find that you could be paying a lot less for the exact same policy or an even better one,” says Byers.

Also, ask your agent to apply

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