Auto Insurance Requirements in North Carolina

All vehicles registered in North Carolina are required to carry liability insurance. The standards below indicate the minimum coverage required under law in North Carolina. Naturally, higher coverage can be acquired for policyholders concerned about liability.

$30,000	This is the maximum amount per person paid for bodily injury (“BI”) injuries.
$60,000	This the total amount paid by the policy for all bodily injury to all persons. Therefore if several people are injured, those who file first would receive payment as defined above, and once the total payment was reached, the remaining parties must pursue the policyholder for any sums over these amounts.
$25,000	This is the total amount paid for property damage (“PD”).

SR-22 is Not Required in North Carolina

SR-22 (the “SR” stands for “safety responsibility”) is a document that verifies that someone has automobile insurance. The SR-22 is prepared by an insurance company and then filed (by the insurance company) with the department of motor vehicles (DMV).  The SR-22 is not an insurance policy. It is evidence that you have a policy. North Carolina does not require an SR-22 forDUI offenses. However if you have an SR-22 filing in another state, and move to North Carolina, you must maintain your SR22 in the state where it is required.

What if you’re involved in an accident in a state other than North Carolina?

The good news is that most policies will increase to match the minimum requirements of the state in which the accident occurred. The 12 states with no-fault insurance systems require that your insurer pay for your damages (as if you had a no-fault policy).

How are premiums determined?

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An insurance company takes many factors into consideration when determining your insurance rates (premiums).  Some factors may seem unfair. For example, drivers with higher education or who are married will generally receive better rates than a driver with a similar driving record. Below are the major factors affecting rates

• Driving record and accidents. Moving violations, DUIs, and accident claims trigger higher rates.
• Credit score. Bad credit scores trigger higher rates.
• Miles driven.  Drive less, pay less.
• Occupation. Jobs involving driving or heavy commutes may trigger higher rates.
• Location. Higher crime rates in your neighborhood or a density of population (cities) will cause rates to rise.
• Age. Drivers under 25 pay more; drivers between 50 and 65 pay less.
• Gender and marital status. Women have fewer accidents and pay less than men. A married person is considered more stable and will receive a lower rate than a driver with a similar record.
• Type of car. The more powerful or expensive, the higher premium because high performance cars attract riskier drivers and expensive cars are more costly to repair.