So you decided to buy a new car and found the make and model you’ve been looking for. You’ve made the necessary arrangements with the dealer and applied for financing. Before you sign the agreement, be sure to shop for an auto insurance policy. In North Carolina, policy rates vary among insurance companies, which is why you must compare your options to find the best deal.
It’s not enough that you fulfilled your goal of owning the car of your dreams. You need protection against the expenses you are likely to incur in case you are involved in a road mishap in the future. Here are the important things you should know when shopping for car insurance in Raleigh or any other cities in North Carolina.
Auto Insurance is Mandatory
You can’t drive a vehicle in North Carolina without liability insurance – it’s mandatory. This policy will cover the costs of repair, medical treatment, and recovery following an accident. While buying an insurance policy means additional expenses, you can’t deny the fact that it’s a wise decision. You’re not just paying for the coverage; you are also preparing for the unexpected. There’s some truth in the saying “better be ready than sorry”.
When you have an automobile insurance, you gain peace of mind and stay compliant with the state’s regulations.
Determining Premiums and Coverage
Insurance companies look at different factors to determine your insurance rates or premiums. These include your age, gender, educational attainment, marital status, driving record, credit score, occupation, location, and the type of car you are driving. An insurance consultant will discuss your options and help you find the coverage that’s right for you.
A “Fault” Car Insurance State
Of course, you don’t want to get involved in a vehicular accident, but in case you find yourself in such situation, you have something good to look forward to. Remember that North Carolina is a “fault” car insurance state, meaning it requires the person who is legally at fault to bear the liability for damages or injuries caused by the mishap. That individual may pay for your auto repair and medical expenses through his or her own car insurance provider.
When you file a claim, your insurer will give you the required amount and then seek reimbursement from the at-fault driver’s insurance carrier. You may also file a personal injury lawsuit against the at-fault driver. Another option is to file a claim directly with the at-fault driver’s insurer.
It pays to have a comprehensive insurance plan that will cover everything. According to the state law, every auto insurance policy sold in North Carolina must include uninsured motorist coverage. Underinsured motorist insurance is also ideal.
In case the at-fault driver has no insurance, uninsured motorist coverage will provide a particular amount you can use to cover the expenses. If the insurance coverage of the at-fault driver is not enough to pay for the damages you sustained, underinsured motorist insurance will pay for the difference.
Accidents outside North Carolina
What if the accident happened in Georgia or any other city outside North Carolina? Well, it’s best to get a policy that will increase to match the minimum requirements of other states. Regardless of who’s at fault, some states would require your insurance company to pay for your damages.
A car insurance policy will come in handy when an accident occurs despite being extra careful. During this difficult time, it’s more convenient to have a reliable source of money to cover the expenses. Now that you know the basics of getting an auto insurance coverage in North Carolina, you can seal the deal and drive home that new pickup or sedan.