My apologies ahead of time on this one. I know that this is a real estate site, but my business is insurance. So when a client comes to us for homeowner's insurance, they always ask us to quote their auto insurance, too. The two are usually tied at the hip.
So this is hot off the press, from today at 12:39pm:
Auto insurers in North Carolina are seeking an average 13 percent increase in rates.
Here's the link to the story: http://www.wral.com/news/news_briefs/story/3116793/
If you want some insight into the process (for home or auto insurance), it works a little like this:
1. The Rate Bureau (i.e. insurance companies) puts in for a 'request' to increase rates.
2. The Department of Insurance (DOI for short, consumer protector) doesn't want rates to go up, so they hold a hearing about the increase.
3. The Rate Bureau then has to show on an actuarial basis (insurance speak for providing real-world data on profits/claims, etc) that rates are too low to sustain profitability.
4. The DOI sometimes grants the request, sometimes rejects it, but often will grant it with modifications.
5. The Rate Bureau can then take the matter to court and the court settles it.
It's not really as complicated as it sounds and actually it works pretty well for the consumers in the state. This helps explian why North Carolina has the sixth lowest rates for car insurance in the US.