North Carolina Auto Insurance
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North Carolina Auto Insurance Requirements
North Carolina’s Financial Responsibility laws ensure that everyone that registers a vehicle in North Carolina has the financial means to cover damage to persons or property that are the result of the driver’s negligent motor vehicle operation. This state’s laws regarding auto insurance coverage are not that complicated.
North Carolina minimum liability limits
If you cause an accident, auto liability coverage pays the costs of the other party’s medical expenses, pain and suffering, lost wages, and personal and other property damage for which you’re legally responsible. In North Carolina, minimum liability limits are 30/60/25. Commonly referred to as split coverage, the first two numbers correspond to bodily injury liability. When these limits are chosen, the insurer pays a maximum of $30,000 per person and up to $60,000 of the combined injuries for all persons involved in the accident. The third number represents the maximum the insurer will pay towards the repair or replacement costs of property damaged as a result of the accident.
Who pays for costs involved in a hit and run?
Uninsured/Underinsured Motorist coverage pays the bodily injury related expenses when the at-fault driver is uninsured, underinsured or is a hit and run driver. You, your family and other passengers riding in your covered vehicle are all protected under this coverage. Under North Carolina law, these limits must be equal to the chosen limits on liability coverage. Of course, you can select higher limits for all mandatory auto insurance.
Coverage for autos that are financed or leased
Any other type of auto insurance coverage you choose is optional. The only exception is if your car is financed or leased. In this case, the financier or lessor may require you to carry Collision and Comprehensive coverage. Collision covers repair costs when your car is damaged in an at fault collision with another vehicle or stationary object. Comprehensive covers repair costs when your car is damaged due all other reasons including such things as flood, flying objects, adverse weather, theft and vandalism.
Coverage for medical and funeral expenses
Medical payments coverage pays medical and funeral expenses that are deemed reasonable and necessary. It covers you and your family as well as other passengers in your vehicle.
North Carolina Department of Insurance
For answers to all your North Carolina auto insurance questions, call the Department of Insurance at 800-546-5664 or visit the website at http://www.ncdoi.com.