CHARLOTTE (QUEEN CITY NEWS) -- North Carolina insurance companies are asking for a rate hike on dwelling insurance policies, an average increase of 68.3%, spread out over two years.

The N.C. Rate Bureau, which represents insurance companies but operates separately from the N.C. Department of Insurance, filed the request on Oct. 30.

If approved, the first increase, 28.5% on average, would take effect July 1, 2026. A second 30.9% average increase would follow on July 1, 2027. The actual rate changes could vary.

Dwelling insurance is not the same as homeowners' insurance. Officials said these policies cover non-owner-occupied homes, such as rental properties, investment properties, or vacation homes with up to four units.

The last dwelling rate filing came in July 2023, when insurers requ

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