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Under N.C. state law the N.C. Rate Bureau sets rates based upon individual driving records via the Safe Driver Incentive Program.  This program penalizes drivers with traffic convictions or at fault accidents.  The N.C. legislature created the Motor Vehicle Reinsurance Facility in 1973 to create a pool to provide coverage for high risk drivers since N.C. law requires liability auto insurance.  NCRF typically loses money every year so the law allows a "Loss Assessment Recoupment" or "Allocation Surcharge" to all N.C. automobile policies.  This fee has been "buried" in the rate structure and not visible in the past on the auto policy declarations page.  In an attempt to be more transparent that fee will now be visible on all N.C. auto insurance polices and does create a level of confusion and extra work for agents to explain what this is about.

The good news is that without this surcharge approximately 75 percent of all N.C. drivers would be paying higher insurance premiums.  N.C. is currently in the lower 1/3 of all States as respects auto insurance premiums.

For more information go to: www.ncrb.org/ncrb
or www.ncdoi.com


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