AUTO INSURANCE

Understanding the different coverages of  your Auto Insurance policy.

Personal Auto Policies in North Carolina:

In North Carolina, as in many other states, state laws mandate specific minimum liability coverage to ensure financial responsibility in the event of an accident. Additionally, depending on your ownership status and agreements with a lender, you may also be required to maintain physical damage coverages such as collision and comprehensive to meet both state regulations and the requirements set forth by your lender or lienholder.

• Liability Coverage: Mandatory in North Carolina, liability coverage helps pay for bodily injury and property damage you may cause to others in an accident. The state has minimum liability requirements that you must meet, but it's often advisable to consider higher limits for increased protection.

• Uninsured/Underinsured Motorist Coverage: This coverage is designed to protect you if you're involved in an accident with a driver who doesn't have insurance or doesn't have enough coverage to pay for your damages. It's a valuable addition to your policy, especially in scenarios where the at-fault party is underinsured.

Physical Damage Coverage: 

Physical Damage coverage is a fundamental component of full coverage auto insurance. Unlike liability coverage, which focuses on damage caused to others, Physical Damage coverage is all about safeguarding your own vehicle against a variety of perils.

This coverage typically includes two main components:

• Collision Coverage: This optional coverage helps pay for repairs to your vehicle after a collision, regardless of fault. If you're leasing or financing your car, collision coverage is often required.

• Comprehensive Coverage: Another optional coverage, comprehensive insurance, covers non-collision events such as theft, vandalism, or natural disasters. Like collision coverage, it's typically required for leased or financed vehicles.

Additional Coverage Options:

Auto insurance coverages extend beyond the requirements of state laws and lender requirements. Additional coverages allow the policy holder to customize the policy in a way that best meets their individual needs. These supplementary coverages are crafted to ensure you're not just meeting the standard, but truly safeguarded in a variety of scenarios. 

• Towing Reimbursement: This coverage helps cover the cost of towing your vehicle to a repair shop in the event of a covered loss.

• Roadside Assistance Coverage: Provides assistance if your vehicle breaks down, including services such as tire changes, jump-starts, and fuel delivery.

• Med Pay (Medical Payments): This optional coverage helps pay for medical expenses for you and your passengers, regardless of fault.

• Personal Injury Protection (PIP): PIP is an optional coverage that pays for medical expenses and other related costs for you and your passengers, regardless of fault. It can be especially beneficial for covering medical bills after an accident.

• Rental Car Coverage: This coverage helps with the cost of renting a vehicle while your car is being repaired after a covered accident.

Non-Named Owner Car Insurance:

A non-named owner auto insurance policy is designed for individuals who don't own a vehicle but may occasionally drive one owned by someone else. This type of coverage ensures that if you're involved in an accident while driving a car you don't own, you're still financially protected. In North Carolina, non-named owner car insurance typically includes liability coverage, which pays for bodily injury and property damage if you're at fault in an accident.  

Whether you're a non-named owner seeking occasional coverage or a vehicle owner in need of comprehensive protection, working with an experienced insurance agent can help you navigate the options and secure the coverage that's right for you.