NC Rate Bureau proposes increase on dwelling insurance

HomeNewsNewsNC Rate Bureau proposes increase on dwelling insurance
Nov 10,2025

The NC Rate Bureau submitted a Filing to the NC Department of Insurance (NCDOI) to increase insurance rates on dwelling policies. Dwelling policies differ from Homeowner policies and typically are used for  second homes, vacation rental homes or year-round rental homes. The Rate Bureau is requesting increases over a two-year period. For Territory 110 (the beach areas of Dare, Currituck and Hyde counties), a rate increase of 40.6% is requested annually on July 1, 2026, and July 1, 2027. For Territory 130, (the non-beach areas of Dare, Currituck and Hyde counties), a rate increase of 37.4% is requested annually on July 1, 2026, and July 1, 2027. These rate increases were filed by the NC Rate Bureau on October 30, 2025. The last dwelling rate increase approved by the NC Department of Insurance became effective on November 1, 2024.

The Rate Bureau is proposing the following rate adjustments for Dwelling policies based on $15,000 in Coverage with Protection Class 5, specifically for Frame Construction under Fire Only and Extended Coverage (other named perils). For coverage amounts exceeding $15,000, corresponding rate values will increase proportionally as coverage limits rise.

 

Territory Territory Definition Current

Fire/Extended Coverage

Base Rate

Effective

11-1-2024

 Proposed

 2-Year Rate
Increase %  Fire-Ext.  Coverage

 Proposed Fire/Ext Coverage Base Rate

7-1-2026

 Proposed  Fire/Ext Coverage Base Rate

7-1-2027
110 Beach areas of Currituck, Dare & Hyde $17/$215 1.5%/40.6% $17.26/$347 $17.56/$487
130 Coastal areas of Currituck, Dare, Hyde & Pamlico Counties $32/$173 -2.6%/37.4% $31.17/$242 $30.36/$332

 

Public comments: Citizens may be submit comments to the NC Department of Insurance by November 19, 2025.

  • Emailed comments should be submitted:  2025DwellingandFire@ncdoi.gov
  • Written comments may also be submitted to:   Kimberly Pearce, Paralegal III, 1201 Mail Service Center, Raleigh, NC  27699-1201
  • When submitting comments, include your name and NC property address

This information was provided by the Outer Banks Association of Realtors