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Why Car Insurance Rates are Likely to be Rising Soon


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3/21/2017
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According to ABC 11, the North Carolina Rate Bureau (NCRB) is attempting to have car insurance rates increased. The NCRB represents every car insurance company in North Carolina, and it is likely rates could go up by 14% before the year ends.

The bureau believes rates need to be increased because people are driving farther distances. Also, in recent years, several accidents due to distracted driving have been reported, giving the NCRB more of an argument. 

In a statement made by the NCRB, they claimed fatalities due to car accidents from 2014 to 2015 increased by 8.1 percent. Injuries due to collisions increased 11.8 percent and the number of crashes reported rose by 11.1 percent.

The last jump in car insurance premiums happened in 2001 and 2002. The new price will have to be approved by the state.

A Clayton resident told ABC News that they feel the prices will increase. "The lower class bracket, that's another bill. So if you raise it, that puts them back in another bind. I think it's ridiculous." Many other drivers feel the same way. Several people do not know if they will be able to keep their car insured.

The new approved rates will kick in on October 1, 2017.

Raleigh resident, Scott Peacock, believes the increase in premiums will not go over well with North Carolina citizens. "[A 14% increase is] a big jump. Anything in the double digits doesn't sound good or go down easily."



Category: Car Accidents


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