North Carolina Commercial Auto Insurance Profitability (2023)
In 2023, Commercial Auto insurers earned $1.1B in premiums in North Carolina and ran a 69.3% loss ratio — the 19th-highest of 51 states (a mid-range loss ratio for the line).
Source: NAIC 2023 Report on Profitability by Line by State. Loss ratio = incurred losses ÷ premiums earned.
Nationally, Commercial Auto ran a 74.4% loss ratio in 2023, so North Carolina is below the national average. See how every state compares on the Commercial Auto market page.
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A higher loss ratio means carriers paid out more of each premium dollar in claims, which tends to push North Carolina commercial auto rates up and thin the field of carriers competing for the business; a lower one signals a more profitable, more competitive market. With a 3.1% underwriting loss, North Carolina carriers relied on investment income to make the line work in 2023 — a sign of rate pressure ahead. Counting investment income, carriers earned a 3.6% profit on commercial auto insurance transactions in North Carolina in 2023 — NAIC's broadest profitability measure for the line. Either way, these are industry aggregates — your own commercial auto rate depends on your business, and the only way to see it is to compare filed rates and real quotes.
North Carolina's $1.1B in commercial auto premiums is the 10th-largest of the 51 states NAIC reports for the line. Across those states, loss ratios span from 99.1% in California — the toughest market for carriers — down to 40.1% in Hawaii, the most profitable; North Carolina's 69.3% places it 19th of 51. For buyers, a state near the top of that spread usually means firmer commercial auto pricing and fewer competing carriers, while a state near the bottom tends to run softer and more competitive. By premium, North Carolina is about 2.8% of the $40.9B national commercial auto market, and its loss-ratio rank places it in the harder half of states for carrier profitability — context that shapes how aggressively carriers compete for North Carolina commercial auto business.
Key takeaways
- North Carolina commercial auto: $1.1B in 2023 premiums at a 69.3% loss ratio (NAIC).
- That ranks North Carolina 19th of 51 states by loss ratio for the line — a mid-pack market.
- These are industry aggregates, not a quote — your commercial auto rate depends on your business; compare filed rates and real quotes.
Getting Commercial Auto coverage in North Carolina
See recent North Carolina rate filings on the North Carolina rate page, learn how Commercial Auto works in our Commercial Auto guide, see typical commercial auto costs, then compare real quotes for your business.
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