Posts Tagged ‘nc auto insurance’

North Carolina Auto Insurance Coverage Requirements

Tuesday, September 27th, 2011

North Carolina auto insurance buyers are required to buy a policy which meets or exceeds the state requirements for liability protection. The minimum level of coverage required by law is $30,000 for injuries sustained by one person, $60,000 to pay for all injuries incurred in an accident and $25,000 to pay for property damage claims.

The state’s financial responsibility laws require that all drivers maintain liability coverage on their vehicle. This type of coverage protects the driver from being personally responsible for paying for personal injury and property damage claims following an at-fault accident. All insurance companies licensed to sell policies in the state must provide quotes for at least this level of protection, and drivers can choose to buy a policy with a higher limit if they wish.

Uninsured Motorist Insurance Coverage

Uninsured motorist coverage with the same minimum requirements as liability insurance coverage in the state is also a legal requirement in North Carolina. This insurance comes into play when the at-fault driver in an accident doesn’t have any coverage at all. A policyholder may also make a claim under this part of his or her policy following a hit and run incident (if the at-fault driver cannot be identified).

The uninsured motorist coverage required under North Carolina state law does not pay for property damage claims; it only compensates the policyholder and his or her passengers for personal injuries following an accident.

 

 

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Posted in North Carolina, USA |

Raleigh Auto Insurance Coverage Minimum Requirements

Monday, September 19th, 2011

Raleigh auto insurance buyers must comply with North Carolina’s financial responsibility laws and have at least a minimum level of liability coverage in place. Bodily injury and property damage liability coverage is required by law, and insurance providers must offer quotes which reflect at least the following level of protection:

  • $30,000 in bodily injury liability coverage to pay for injuries and damages suffered by one person injured in an accident
  • $60,000 in bodily injury insurance to pay for injury claims made by two or more people injured in the same event
  • $25,000 in property damage liability protection to pay for repairs to the other driver’s vehicle, as well as public property damaged or destroyed in the event

Drivers must have proof of coverage in their vehicle at all times and must show their insurance card if stopped by police. This card must also be produced if an accident occurs.

Failure to Maintain Auto Insurance Coverage in NC

If a driver cancels his or her auto insurance coverage in Raleigh, the insurance company is required to notify the state Department of Motor Vehicles (DMV). The driver then has 10 days to provide his or her current auto insurance information. If a lapse in coverage occurred, the driver must also pay a fee to the DMV when submitting his or her insurance coverage details. Failure to respond to a notice from the DMV may lead to a driver’s license suspension for 30 days.

 

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Posted in North Carolina, USA |

North Carolina Car Insurance and Lending Your Car

Friday, July 1st, 2011

If you decide to lend your car to a friend or family member, your North Carolina car insurance also goes with it. Keep in mind that the insurance follows the vehicle, not the driver. If your car is involved in an at-fault accident, your insurance company will be responsible for paying for the injuries and damages sustained by the occupants of the other vehicle.

As the vehicle owner, you can expect that your insurance premiums will go up following the accident. You will be paying more for your coverage for at least a few years following the incident. In a case where the accident also involved points being taken of the driver’s license, only he or she will be affected.

Generally speaking, it’s not a good idea to lend your vehicle to someone else. Even the most careful driver can be involved in an accident, and when one occurs, the owner is the one affected by the incident.

Instead of lending your car to someone else, a better choice is to offer to drive the person to his or her destination. That way, you will be in control of what happens while you are on the road. If you choose to lend your vehicle, knowing the risk involved in doing so, you also need to be prepared to deal with the consequences of your actions.

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Posted in North Carolina, USA |

How North Carolina Car Insurance Companies Set Rates

Sunday, June 19th, 2011

When North Carolina car insurance companies are setting rates for their customers, they consider several factors. Each company licensed to sell policies in the state uses its own formula for determining how much to charge policyholders and for this reason, rates can and do vary significantly between companies. While the insurers may consider similar factors, they may give some of them more weight than others.

One of the main factors that car insurance companies will look at when setting rates is the applicant’s driving history. Drivers who have been licensed for a number of years and who have a clean record will be able to qualify for the best premium rates. Young and/or newly-licensed drivers pay some of the highest rates charged by insurance providers. They are a higher risk to insure because of their lack of experience behind the wheel, and insurers are well aware that teens and young adults (especially males) are more likely to take chances while driving. By the time a young driver reaches his or her mid-twenties, premium rates should start to drop.

The make and model of the car is another important consideration when North Carolina car insurance companies are setting rates for customers. Insurance companies track the cost of repairs for different types of vehicles, as well as which ones are most likely to be stolen. Choosing a vehicle in one of these categories means having to pay more for coverage.

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Posted in Car Insurance Rates, North Carolina, USA |

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