Keep Your Low Car Insurance In North Carolina
North Carolina lawmakers are attempting to push SB 490, a bill which could greatly effect the auto insurance rates offered to North Carolina Drivers. North Carolina is currently the 8th state for the lowest auto insurance rates. Could this be changing soon due to SB 490?
North Carolina’s Insurance Commissioner Wayne Goodwin is opposed the bill and explains how this bill will take some of the commissioners authority away, authority that any driver wants on their side. The state commissioner places caps on the rates insurance companies offer no allowing companies to charge to high of rates. One this bill goes into effect that authority will be taken away leaving the insurance companies open to jacking the rates up however they like.
So generally this may bring more insurance companies in that now can offer coverage since they are not held down by the rate caps. Just because there will be more competition, this does not mean the rates will be lower. Everyone will be competing while offering rates that are higher than what you pay now.
Goodwin said, “These proposals are pushed by out-of-state insurance companies who want to make more money off of North Carolina drivers. There is no doubt that car insurance rates will go up if any of these proposals becomes a reality. The insurance companies are trying to get the legal authority to charge you higher rates even if you have a perfect driving record.”
NC Auto and Home Insurance Comparison Rate Quotes Available
If you’re a safe driver, you should be able to get the car insurance you need at a cheap price. Whether you’re a young driver or a more experienced driver, by driving safe and keeping your driving record clean, you earned that affordable auto insurance rate and that should never be taken away from you. Whether this bill passes or not, if you experience a rate hike keep us in mind. We specialize in helping drivers compare rate quotes to find shoppers the North Carolina insurance coverage needed at a low price. We have helped drivers get cheap auto insurance in Charlotte, Raleigh, Greensboro, Durham, Fayetteville and surrounding cities throughout North Carolina.
Tip of the day:
Always insurance rates in mind when in the market to buy a new vehicle. Generally smaller and safely built sedan models will be less expensive to insure than larger trucks and suvs. Make sure to also review auto recalls associated with your vehicle to reduce your driving risk.