North Carolina High Risk Auto Insurance
The high risk car insurance market is very competitive with 110 different insurance companies licensed to underwrite and sell auto insurance policies in the state of North Carolina. Among those offering high risk auto insurance are companies like Atlantic Casualty, Economy, Fireman's Fund, Geico, and State Farm.
The state of North Carolina has some very strict limits on how much insurance a person must carry as a minimum in order to be legal when driving. The state requires personal injury liability coverage with a minimum of $30,000 per individual and $60,000 per accident. Property damage liability must be maintained at a minimum level of $25,000. Because of the high costs of medical care for accident victims and the cost of replacing vehicles that are totaled in an accident, the state also requires uninsured/underinsured bodily injury coverage minimum coverage of $30,000/$60,000 and property damage of $25,000.
Acceptable proof of North Carolina minimum insurance could be an owner affidavit of insurance that includes the name of the insurance provider and the policy number or a form FS-1 provided by the insurance company. This proof must be provided when registering the vehicle. If insurance coverage is allowed to lapse during the registration period, the insurance company is required to notify the state DMV. Drivers who change insurance carriers will be given an opportunity to provide new proof of insurance without penalty. If there is a lapse, the person risks having the vehicle registration suspended for 30 days and having to pay a $50 dollar fine, $50 reinstatement fee and registration fee to get the license plate back. Avoid thesec costly fines by understanding the laws in North Carolina and you will also avoid the need for high risk auto insurance.