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In North Carolina, an insurance carrier can cancel within 10 days for nonpayment of premium. The policy contract specifies the reasons the insurer can cancel the policy and the time frame and method in which it can do it.

The state will suspend your registration and license plates for 30 days unless you submit proof of insurance and pay an additional $50 for reinstatement.  If you need to buy a new policy after a lapse, then it’s a good idea to compare quotes from multiple insures to make sure you find the best rate.

In some cases, you may be able to reinstate a lapsed policy within the time frame set by your carrier. This may require additional underwriting and payment of all missed premiums and a signed statement of no loss form.

All policies are cancelled short-rata method which includes a penalty as a disincentive for early cancellation. Each Carrier calculates the percent differently.

The Form DL-123 proves to NCDMV that you have at least the minimum amount of liability car insurance required to drive a vehicle registered in NC. Who typically needs to file Form DL-123? Someone applying for a driver’s license for the first time in NC.  The form is in effect for 30 days.

In NC, liability insurance follows the car, not the driver. Essentially, this means that if someone borrows a car and causes an accident, the vehicle owners’ policy would be first coverage pursued for compensation.  The SDIP points are charged to the driver for convictions and at-fault accidents occurring during the experience period.

An insurance binder is a written legal agreement between you and the insurance company. It provides proof of insurance for a certain period, usually until a standard policy is issued.

Types of insurance binders included Auto insurance, Homeowners Insurance, Commercial property insurance. Each type of binder provides different coverages, depending on what you are insuring and any minimum requirements in North Carolina.

Canceling homeowners’ insurance can be as simple as contacting your insurance provider and filling out a brief cancellation form. But before making it official, make sure you have another policy lined up, so you aren’t leaving yourself without coverage for any period of time.

It Depends.  There are so many factors that go into how much homeowner’s insurance you should have. In an effort to not get too technical with you, I would say that as long as your policy is written and insured at Replacement Cost you are doing well.

Renter insurance is an insurance policy built to suit the needs of individuals and families who do not own the property they live in.

You can ask ten different insurance professionals how much life insurance should buy and get ten different answers.  The most common reasons for purchasing life insurance include coverage of debt, specifically a mortgage, replacing lost income for survivors and making sure there are funds available for the education of children.

Insurance Matters offers a wide range of commercial insurance products for any kind of business. No matter what kind of business you’re in – from professional services to construction, manufacturing or even running a restaurant – our knowledgeable agents will help you determine the right coverage with all the options available you need.

A ghost policy is a minimum premium workers’ comp policy for a one-person business, self-employed with no employees.  However, the company owner is exempt from the policy, so it doesn’t cover anyone, unless the owner elect’s coverage.