Why is my auto insurance premium going up this year?
Auto insurance premiums are increasing for many North Carolina drivers due to:
- Higher vehicle repair costs and parts prices
- Increased accident severity and claim payouts
- More expensive medical costs from injuries
- Rising vehicle values and technology repair costs
Even drivers with clean records may see increases because rates are affected by overall claims trends in North Carolina, not just individual driving history. It’s rare to experience an $800 fender bender nowadays. Your advisor at Moheyer Insurance can discuss the cost benefit of changing deductibles to offset premium increases.
Do I have to increase my liability limits to meet the new 50/100/50 minimums, and when does that happen?
North Carolina is updating minimum auto liability limits to 50/100/50, meaning:
- $50,000 bodily injury per person
- $100,000 bodily injury per accident
- $50,000 property damage per accident
In NC, policies written or renewed after 7/1/2025 must meet the new limits. Most insurance companies automatically update policies at renewal, but drivers should review coverage to make sure limits are adequate for personal asset protection—not just minimum compliance. For example: $50,000 property damage limit will not be enough coverage if you total someone’s new vehicle that cost $75,000. (ie. BMW X5, Audi Q8, Chevy Silverado, ect.)
What is uninsured and underinsured motorist coverage, and how does it protect me?
Uninsured Motorist (UM) and Underinsured Motorist (UIM) coverage protects you when:
- The at-fault driver has no insurance, or
- The at-fault driver’s insurance limits are too low to cover damages
This coverage can help pay for:
- Medical bills
- Lost wages
- Vehicle damage
- Injury-related expenses
Because many drivers carry minimum limits, UM/UIM coverage is one of the most important protections on a North Carolina auto policy.
Why do some drivers pay much higher premiums than others?
Auto Insurance premiums are influenced by:
- Driving record and accident history
- Age and driving experience
- Vehicle type
- Credit-based insurance score
- Annual mileage
- Location and claim frequency
- Household driver risk
A policy review with an advisor at Moheyer Insurance can identify discounts or coverage adjustments to prevent you from overpaying.
Should Huntersville drivers review their auto insurance each year?
Yes. Reviewing coverage annually helps ensure:
- Competitive pricing
- Proper liability limits
- Correct driver listings (ie. youthful drivers away at college)
- Available discounts applied (ie. telematic programs or good student discounts)
- Coverage matches current needs
A review doesn’t always mean switching carriers, but it ensures competitive pricing. If your agent isn’t automatically doing this for you now, Moheyer Insurance offers this promise to all of their clients.