North Carolina Auto Insurance

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North Carolina Auto Insurance

North Carolina Auto Insurance

Sometimes accidents happen, but there’s no need to worry! The Bennett Group Insurance Consultants are here to help you find the North Carolina auto insurance coverage that will best protect you in case of an accident. Not only is auto insurance mandatory in the state of North Carolina, but it is also essential to help protect you, your loved ones, and your finances at the time of an automobile accident.

What are the minimum North Carolina auto insurance requirements?

Bodily Injury (per person)$30,000
Bodily Injury (2 or more people)$60,000
Property Damage$25,000

What is liability coverage?

Liability Coverage: Coverage that pays for bodily injury and property damage caused by the insured, if the insured is found legally liable.

What is collision insurance?

Collision: A part of an auto insurance insurance policy that covers the insureds automobile in the event that they hit another car, another object, or overturn their vehicle. 

What is comprehensive insurance?

Comprehensive: This coverage covers losses other than collision.

Examples of some common items covered with comprehensive
  • Flood
  • Vandalism
  • Hail 
  • Water
  • Falling Objects
  • Fire
  • Theft
  • Earthquake
  • Explosion
  • Riot
  • Glass Breakage 
  • Hitting a Bird or Animal
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Ways to save on North Carolina auto insurance

  • Having a clean driving record
    • Did you know that insurance companies, on average, look at your previous 3-5 years of driving history to determine how risky it is for them to take you on as a client? 
  • Having continuous coverage
    • Continuous coverage is having no lapse in coverage. In other words, it is important to always carry insurance at all times. 
  • Discounts
    • There are a lot of discounts out there when it comes to auto insurance!

Common North Carolina auto insurance discounts

  • Look Ahead Discount
    • Insurance companies have found that clients who look ahead for their insurance are more reliable customers. Knowing this, insurance companies have come up with a discount to reward people for planning. So, don’t wait until the last minute to shop for your insurance. 
  • Claims Free Discount
    • Insurance carriers typically look back at your claims history about 3-5 years. If they find that you’ve made no claims then you may be eligible for a discount 
  • Homeowners Discount
    • If you own a home, you can save! Insurance carriers realize that owning a home is a big accomplishment and they want to reward you for it. 
  • Low Mileage Discount
    • Since 2020, the world has been a different place. With less people having to go into a physical location to work, people are putting less miles on their cars. If you are one of those people, you might be eligible for a discount on your auto insurance. 
  • The Good Student Discount
    • It’s expensive to have a child, but they actually might be able to save you money on your car insurance. If your child makes on average above a B/3.0, you may be eligible for a discount. 
  • Paperless Policy Discount
    • A lot of insurance carriers give you a discount for having your documents emailed to you and making online payments, instead of having all documents mailed to you. 
  • Telematics Discount
    • A wide range of insurance carriers offer a telematics program/discount. Telematics is a system used to gather information about your actual driving. This helps insurance carriers to personalize your insurance for your driving and can reward safe drivers with savings on their insurance.

Auto Insurance Myths

  • It is always better to bundle. False!
    • While this idea is vocalized by many insurance companies it isn’t always true. When you have an independent agent, like the agents at The Bennett Group Insurance Consultants, sometimes they can find you better ways to save. With access to multiple insurance carriers, independent agents can build your insurance with the best auto insurance from one company and the best home insurance from another. That being said, sometimes the myth holds true and it is better to bundle. Accordingly, it all depends on your situation!
  • Receiving quotes affects your credit score. False!
    • Running/receiving quotes does not affect your credit score. As a matter of fact, insurance companies only run a soft pull on your credit when determining rates. Soft pulls do not affect your credit.
  • Your credit score does not affect your insurance rates. False!
    • Insurance carriers use your insurance score to learn about you. Through research carriers have found that people with higher credit scores tend to be more favorable clients. Knowing this, insurance companies charge less to those who have higher credit scores.
  • If you let someone borrow your car and they get in an accident, their insurance is responsible for paying the claim/damages. False!
    • Insurance follows the car, not the driver. If someone gets into an accident while driving your car, your insurance will be responsible for paying the claims/damages.

FAQ

Am I required to have North Carolina auto insurance?

Yes! Not only is auto insurance mandatory in the state of North Carolina, but it is also essential to help protect you, your loved ones, and your finances at the time of an automobile accident.

Do I need more than the minimum required North Carolina auto insurance coverage?

In most cases people need more than the state required minimum. North Carolina’s state liability requirements are…

$30,000(per person)

$60,000(for two or more people)

$25,000(for property damage)

An example to illustrate why this matters: 

John, a minimally insured driver, is driving to the store one day and his coffee spills all over his lap. Oh no! John reaches into his consul to grab some napkins, as he is doing this the car in front of him slows down to turn. CRASH! John accidentally rear ends the car in front of him. The driver is sent to the hospital with injuries, and their total hospital bill ends up totaling $35,000. Oh…and the other driver’s car is totaled, and it happens to be a $100,000 sports car.

Following these events John contacts his insurance company. The insurance company tells John his insurance policy only covers part of the damages he caused. John is shocked, worried, confused, and scared for his finances. What is he going to do? How will he pay for the damages he has caused? 

Don’t end up like John. When you’re shopping for insurance it is important to make sure your precious assets are fully covered if you or another insured on your policy were to ever get into an accident.

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