The North Carolina Rate Bureau recently filed a request with the NC Department of Insurance (NCDOI) to increase insurance rates on dwelling policies—the type of coverage most commonly used for second homes, vacation rental properties, and year-round rental homes.
The proposal seeks rate increases over a two-year period, beginning July 1, 2026, and again on July 1, 2027, as follows:
- Territory 110 (beach areas of Dare, Currituck, and Hyde counties): 40.6% annual increase each year
- Territory 130 (non-beach/coastal areas of Dare, Currituck, Hyde, and Pamlico counties): 37.4% annual increase each year
These proposed increases follow rate adjustments that took effect on November 1, 2024 (14.9% for beach areas and 5.8% for non-beach areas).
On November 10, 2025, Mayor Don Kingston submitted a letter to Commissioner Mike Causey, expressing the Town’s concerns about the potential impact of these proposed rate increases on local property owners and the coastal housing market. The letter emphasized the importance of maintaining accessible and sustainable insurance options to support the region’s economy and year-round community.
Community members are encouraged to share their feedback directly with the NC Department of Insurance and Commissioner Causey. Public comments will be accepted until November 19, 2025.
Via email: 2025DwellingandFire@ncdoi.gov
By mail:
Kimberly Pearce, Paralegal III
1201 Mail Service Center
Raleigh, NC 27699-1201