Subject: Incident at Our Car Lot in Downtown Raleigh
I own a car lot in downtown Raleigh, and last night we experienced a serious incident. A driver was speeding over 100 MPH in a 45 MPH zone and lost control, resulting in the total loss of a couple of our vehicles and causing damage to about 10 others in the lot.
Based on my observations, it seems likely that this driver only had minimum insurance coverage. His vehicle was financed through a dealership that specializes in helping individuals with low credit scores.
I’m located in North Carolina, and I’m curious about the maximum coverage I might expect if this driver indeed has minimum liability coverage. Two of the cars were valued at $25,000 each and were completely totaled, while two others sustained significant damage, and several more suffered broken windshields and paint scratches from flying debris. Any insights would be greatly appreciated!
I’m sorry to hear about the damage to your car lot; that sounds incredibly frustrating. In North Carolina, the minimum liability coverage required is typically $30,000 for bodily injury per person, $60,000 for total bodily injury per accident, and $25,000 for property damage per accident.
Since the cars you mentioned are valued at $25,000 each, if the driver has only the minimum coverage, the insurance will likely cover up to $25,000 for property damage. This means they would cover the total value of one car but would fall short for the damages caused to the other vehicles.
For the vehicles that are severely damaged, your best course of action would be to get a detailed estimate of the repair costs and reach out to the driver’s insurance company. It may also be worth considering consulting with an attorney to explore additional options for recovering the remaining costs, especially if you have uninsured motorist coverage or if there are grounds for further claims.
Make sure to document everything and keep records of the damages and any communication with the insurance company. Hopefully, you can resolve this quickly and get your lot back in shape!