What changed in North Carolina
In January 2024, the North Carolina Rate Bureau filed for an average statewide homeowners rate increase of 42.2%, with larger proposed changes in some territories. The Rate Bureau represents insurance companies and is not part of the Department of Insurance.
The Department of Insurance and the Rate Bureau later reached a settlement: an average statewide base-rate increase of 7.5% for policies effective on or after June 1, 2025, followed by another average 7.5% for policies effective on or after June 1, 2026. Territorial and policy-specific results can differ.
A statewide average is not a prediction of your renewal. Territory, form, carrier, limits, roof, deductibles, credits, and underwriting all affect the actual premium.
Why property insurance gets repriced
The Department’s settlement announcement pointed to large natural-disaster payouts and increasing reinsurance costs. More broadly, property pricing can reflect catastrophe exposure, rebuilding inflation, labor and material costs, insured values, roof age and condition, prior losses, deductible structure, and an insurer’s filed rating plan.
- Catastrophe and weather losses
- Reinsurance costs
- Construction and replacement-cost inflation
- Property age, roof condition, and mitigation
- Loss history and underwriting changes
- Territory and coverage form
Where fraud fits—and where it does not
Insurance fraud increases costs across the system. North Carolina’s Department of Insurance states that society pays for fraud through higher premiums and identifies false statements, fabricated losses, exaggerated claims, and other intentional deception as crimes.
But it would be inaccurate to say the homeowners rate settlement happened only because of roofing fraud. Official rate materials point to a much broader loss-and-cost environment. Fraud is a real pressure, not a complete explanation.
A good-faith claim for documented storm damage is not fraud. Creating damage, inventing a date of loss, falsifying documents, or knowingly exaggerating a condition is.
What homeowners can control
- Keep the roof and property condition documented before and after storms.
- Ask the carrier about mitigation credits and deductible options.
- Review insured values and roof-settlement terms with the agent.
- Use licensed, reputable professionals and reject anyone who proposes fabricated damage or false statements.
- Compare renewal terms before a deadline rather than after coverage lapses.
- Maintain one clean file of inspections, repairs, warranties, and invoices.
The Monument position
Insurance should be used for legitimate covered losses—not treated as a sales strategy. Our role is to document observable conditions, distinguish storm indicators from maintenance or installation defects, and explain reasonable repair or replacement paths.
Coverage belongs to the policy and carrier. The roof decision belongs to the owner. A clean record helps both conversations.
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