What are the North Carolina minimum liability limits requirements?
The State of North Carolina has given you the privilege of driving on it’s roads. In order to be eligible for this privilege, you must carry liability limits of at least $30,000 per person and $60,000 per occurrence for bodily injury. Plus you must carry at least $25,000 for property damage. However, these limits can be too low. If you carried these low limits and injured someone in a car accident that spends more than a few days in the hospital, you will paying out of your own pocket or will have a judgement placed against you for years to come. What if you wrecked someone’s brand new BMW? Again, be prepared to pay.
Why should I carry comprehensive coverage?
Comprehensive coverage or Comp coverage will cover you for damage done to your vehicle other than from a collision with some exceptions. It covers for theft, vandalism, rock hits your windshield, you hit a deer, fire and more. You have a choice of no deductible or various deductible amounts. Most folks in North Carolina carry this coverage with a $250 deductible because rates are lower than carrying no deductible. Of course, you can increase your deductible to save even more on your insurance rates.
If I rent cars, should I buy insurance from the rental car company?
We recommend that you always buy the insurance for physical damage from the rental car company. Why? Because it will help you avoid headaches should you damage the car plus, your personal car insurance policy may not cover the entire costs involved with repairing the vehicle. Let me explain.
If you damage a rental car, the rental car company will send it off for repairs. That means the car will not available for rent and will cost the rental car company money that they will hold you responsible for. This is not covered by a North Carolina auto insurance policy. If you are carrying physical damage on your policy, your insurance company should pay for the damages but this is often times, a big headache dealing with the adjuster and the rental car company. If you buy the rental car company’s insurance, you hand them the keys and move on. No headaches and extra money out of your pocket. Be sure to read their terms and conditions carefully before signing on the dotted line.
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