Spotlight Report

N.C.’s Auto Insurance System Seven Things to Understand

posted on in Law & Regulation
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•  North Carolina’s automobile insurance system guarantees profits to insurers.
•  North Carolina’s current system makes it difficult—and undesirable—for insurers to offer innovative new products in the state.
•  Residents across the Southeast states pay relatively low rates for automobile insurance.
•  North Carolina’s automobile insurance system imposes a special tax on all drivers in order to subsidize coverage for risky drivers.
•  More than a fifth of North Carolina drivers cannot find a private insurer willing to write them liability coverage.
•  State regulation does not keep auto insurance rates in North Carolina lower than those in other states.
•  Currently pending legislation still gives the insurance commissioner authority over most rate requests and would not result in significant short-term rate increases for anybody.

Spotlight 432 N.C.’s Auto I… by John Locke Foundation on Scribd

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We are North Carolina’s Most Trusted and Influential Source of Common Sense. The John Locke Foundation was created in 1990 as an independent, nonprofit think tank that would work “for truth, for freedom, and for the future of North Carolina.” The Foundation is named for John Locke (1632-1704), an English philosopher whose writings inspired Thomas Jefferson and the other Founders.

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