Frequently Asked Questions

International Insurance Associates Help Center

What happens if I have a lapse of liability insurance?

What happens if I have a lapse of liability insurance?
Whenever your liability coverage is cancelled or nonrenewed, your insurance company is required to notify the North Carolina Division of Motor Vehicles (DMV). The DMV is required to notify you when they receive the notification. If there is a penalty, the DMV will advise you of such and what action, if any, that you need to take.

What are the legal requirements?

The first thing that you need to think about when you are looking for insurance for your car is what the legal requirements are. Whenever you take your vehicle out on the road, you are always running the risk that you could cause an accident. If you are found to be at fault for an accident, you must cover damages caused. Since these can be too expensive for many people to pay for out of pocket, state law in North Carolina and South Carolina will require you to carry a certain level of liability insurance.

What is auto insurance?

Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy.
Auto insurance provides property, liability and medical coverage:

  • Property coverage pays for damage to or theft of your car.

  • Liability coverage pays for your legal responsibility to others for bodily injury or property damage.

  • Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.

Most auto policies are for six months or a year. Your insurance company should notify you by mail when it's time to renew the policy and to pay your premium.

Replacement or Repair Costs

Depending on your situation, you may also need to get replacement or repair coverage for your vehicle. If your car was expensive to buy, or if it required that you take out a loan, you need to make sure that you also get collision and comprehensive insurance. This type of coverage will protect you for a wide range of situations that could cause a loss, including if your car is stolen or damaged in an accident.
Choosing your next auto insurance policy is a big decision. To make it easier, you should contact the team at International Insurance Associates. The insurance professionals at International Insurance Associates they will give you more insight into where your needs should be focused and what options are available for insurance coverage. Contact our office to speak with an agent and learn how to get started.

Why do you need homeowners insurance?

It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That's important because chances are your home is likely one of your largest investments.

  • If your home was destroyed by fire or damaged by a natural disaster, you'd need money to repair or replace it.

  • If a guest in your home is injured, liability protection and medical coverage help pay expenses.

  • If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.

  • If you are still paying for your home, your lender will require insurance.

It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent to talk about what is covered and be sure to read your policy so you know exactly what's included and what is not.

Do I need workers compensation insurance?

Employers have a legal responsibility to their employees to make the workplace safe. However, accidents happen even when every reasonable safety measure has been taken.
To protect employers from lawsuits resulting from workplace accidents and to provide medical care and compensation for lost income to employees hurt in workplace accidents, in almost every state, businesses are required to buy workers compensation insurance. Workers compensation insurance covers workers injured on the job, whether they're hurt on the workplace premises or elsewhere, or in auto accidents while on business. It also covers work-related illnesses.
Workers compensation provides payments to injured workers, without regard to who was at fault in the accident, for time lost from work and for medical and rehabilitation services. It also provides death benefits to surviving spouses and dependents.