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Motorists getting second reduction in rates.
Byline: Richard Craver
Apr. 12--North Carolina motorists will get a second reduction in their insurance rates this year because of a settlement announced yesterday by the N.C. Department of Insurance and the N.C. Rate Bureau.
The 2006 auto-insurance rate for private-passenger vehicles will drop an average 2.9 percent on Nov. 15, according to Jim Long, the state's insurance commissioner.
The bureau is an independent group that represents auto-insurance companies in the state. The bureau is required to file its annual rate request on Feb. 1. The rate remains in effect until the next year's settlement has been agreed upon and an implementation date is …
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