Subject: Serious Incident at Our Car Lot
I own a car lot in downtown Raleigh, and last night we experienced a significant incident. A driver was speeding at over 100 MPH in a 45 MPH zone, lost control, and ended up totaling a few of our vehicles. Unfortunately, the debris from the crash also caused damage to around 10 additional cars in our lot.
Based on what I’ve observed, it seems the driver likely had minimum insurance coverage. His vehicle was financed through a dealership that caters to individuals with low credit.
Since I’m located in North Carolina, I’m curious about what to expect in terms of coverage limits if this driver indeed has only the minimum insurance. Two of our cars were completely totaled, while two others have serious damage, along with several vehicles that suffered broken windshields and paint damage from the debris. What can I anticipate in terms of reimbursement?
I’m really sorry to hear about the damage to your car lot. That sounds incredibly frustrating. In North Carolina, the minimum required liability coverage is $30,000 per person and $60,000 per accident for bodily injury, and $25,000 for property damage. Given that you have multiple cars damaged, the key will be how much of your loss the insurance will cover.
For the two totaled cars valued at $25,000 each, if the driver has minimum coverage, you’ll likely only receive up to $25,000 for property damage, which won’t be enough to cover both losses. Additionally, the damages to the other cars might not be fully covered either, depending on the specifics of the insurance policy and the total amount of damages sustained.
If the total damages exceed the driver’s insurance limits, you might not recover the full amount you’re owed. You might want to consult with an insurance professional or a lawyer to explore your options, especially if there might be any recourse against the driver personally for the damages. I hope you can resolve this situation swiftly!