North Carolina is known for its beautiful mountains, stunning coastline, and a rich history. For many residents, getting around means driving, and with that comes the need for auto insurance. Now, drivers in the Tar Heel State are getting some good news regarding their insurance rates.
Travelers Insurance is planning a significant change to its insurance premiums for drivers in North Carolina. The company is set to decrease its auto insurance rates by 13.8%, a change that will take effect on December 11, 2025. This news comes after a 6.1% rate decrease by the carrier in August and is set to impact nearly 47,000 policyholders in the state.
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Why Travelers Is Lowering Its Rates
So, why the change? Insurance carriers adjust their rates for a variety of reasons, and these changes are a normal part of the insurance industry. When carriers see a decrease in their own expenses, they can sometimes pass those savings on to their customers. A few of the key factors insurance carriers consider when adjusting rates include:
- Claims Frequency and Severity: The number of accidents and the cost of those accidents in a specific region.
- Cost of Repairs: The price of parts, labor, and new technology in vehicles can all impact the cost of repairs.
- Driving Habits: Changes in traffic patterns or driving behavior can influence risk.
- Economic Conditions: Inflation and other economic factors can affect the cost of doing business for an insurance company.
How to Maximize Your Savings
While this rate decrease is welcome news, it’s always smart to be proactive when it comes to your insurance. Shopping around is one of the best ways to ensure you’re getting the most competitive rate. Here are some tips on how to lower your car insurance rates:
- Shop and Compare Quotes: The most crucial step is to compare quotes from multiple insurance companies. Don’t assume your current insurer still offers the best deal.
- Maintain a Clean Driving Record: A good driving record with no accidents or traffic violations can lead to significant discounts.
- Increase Your Deductible: Opting for a higher deductible can lower your monthly premium. Just make sure you have enough in your emergency fund to cover it in the event of an accident.
- Bundle Your Policies: Many insurance companies offer discounts if you bundle your auto insurance with your home or renters insurance.
- Inquire About Discounts: When evaluating your current policy or looking into other options, ask about potential discounts. There may be discounts available for things like being a good student, taking a defensive driving course, or having certain safety features on your car.
Stay on Top of Your Premiums
With Travelers Insurance’s upcoming rate decrease, there’s a real opportunity to lock in some savings. But next time, don’t wait to find out about a rate adjustment. Instead, use Auto Quote Tracker to stay on top of your insurance.
Sign up to get notified when your rates are set to change, so you can start shopping around and comparing quotes to ensure you’re always getting the best deal.
