Auto or car insurance coverage has two parts. The first is the liability section of the policy. It covers your financial responsibility for injuring others. Some liability coverage is required by most states. In North Carolina, the minimum bodily injury (BI) liability coverage requirement is $30,000 per person and $60,000 per accident. The minimum property damage (PD) coverage requirement is $25,000. This liability coverage package is commonly referred to as “minimum limits” or “thirty, sixty, twenty-five.” At Terry Riney Agency, we feel that most drivers should have better protection than what the minimum limits provide. Most insurance advertising encourages you to focus on saving money. We understand that having a competitive price is important, but we’re much more concerned about helping you make good decisions about coverage so you’re better protected.
The second part of auto insurance covers the car itself: comprehensive coverage reimburses losses from fire, theft or other perils; collision coverage pays to repair losses caused by an accident. Often this coverage is mandated by leasing companies or banks. There are also ancillary medical, car rental and other coverages which vary by state.
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