NC auto insurance Archives - Paramount Insurance Agency

How to Save Money on North Carolina Car Insurance (with an Independent Agent)

Tom Wiecek — Wed, 22 Apr 2026 20:01:22 +0000

Car insurance is a necessity for every driver in North Carolina—but that doesn’t mean you should overpay for it. With rates fluctuating and personal factors like driving history and credit playing a role, many drivers are paying more than they need to. The good news? Working with an independent insurance agent can unlock smarter, more affordable coverage options.

Here’s how North Carolina drivers can save money on car insurance—and why partnering with an independent agency like Paramount Insurance is one of the best moves you can make.

Why Car Insurance Rates Are Rising in North Carolina

Before diving into savings strategies, it helps to understand why rates are increasing:

Higher repair costs due to advanced vehicle technology
Increased accident frequency in growing cities like Winston-Salem and High Point
Medical expenses continuing to rise
Severe weather claims impacting insurers statewide

Even though North Carolina has a regulated insurance system, companies still adjust pricing based on risk—making it essential to shop smart.

1. Work With an Independent Insurance Agent

One of the easiest ways to save money is by working with an independent agent instead of a single insurance company.

Why this matters:

Independent agents compare multiple car insurance carriers at once
They customize coverage to fit your exact needs
They help you avoid paying for unnecessary extras
They advocate for you when rates increase

Instead of being locked into one company’s pricing, you get access to a range of competitive options—often leading to significant savings.

2. Bundle Your Policies

If you have homeowners or renters insurance, bundling it with your auto policy can lead to major discounts.

Common bundle savings:

10%–25% off combined policies
Simplified billing and account management
Better coverage coordination

An independent agent can quickly identify which carriers offer the best bundle deals in North Carolina.

3. Improve and Monitor Your Credit

In North Carolina, your credit-based insurance score can impact your premium.

Tips to improve your rate:

Pay bills on time
Reduce outstanding debt
Avoid opening unnecessary credit accounts

Even a modest improvement in your credit score can lower your insurance costs over time.

4. Adjust Your Coverage (Without Sacrificing Protection)

Many drivers either over-insure or under-insure their vehicles.

Smart adjustments include:

Raising your deductible for lower monthly premiums
Dropping comprehensive/collision on older vehicles
Reviewing liability limits to ensure proper protection

An independent agent will walk you through these decisions so you save money without exposing yourself to risk.

5. Take Advantage of Discounts

Insurance companies offer a wide variety of discounts—but you have to know where to look.

Common discounts in North Carolina:

Safe driver discounts
Low mileage discounts
Good student discounts
Defensive driving course discounts
Multi-vehicle discounts

Independent agents make sure you’re not leaving any savings on the table.

6. Shop Your Policy Regularly

Insurance rates change frequently, even if your situation doesn’t.

Best practice:

Review your policy at least once a year
Compare car insurance quotes across multiple carriers
Re-shop after major life changes (moving, new car, marriage)

This is where an independent agent provides ongoing value—continuously checking the market so you don’t have to.

Why Paramount Insurance Is the Smart Choice in North Carolina

At Paramount Insurance, we specialize in helping North Carolina drivers find the best coverage at the lowest possible price.

What sets us apart:

Access to multiple top-rated insurance carriers
Personalized service tailored to your needs
Local expertise in Winston-Salem, High Point, and surrounding areas
Ongoing policy reviews to keep your rates competitive

We don’t work for the insurance companies—we work for you.

Start Saving on Car Insurance Today

If you’re tired of overpaying for car insurance, now is the time to explore your options. A quick policy review with an independent agent could uncover savings you didn’t even know were available.

Contact Paramount Insurance Agency today at 336-869-3335 for a personalized consultation or CLICK HERE for a quote.

The post How to Save Money on North Carolina Car Insurance (with an Independent Agent) appeared first on Paramount Insurance Agency.

How to Save on North Carolina Car Insurance

Tom Wiecek — Mon, 23 Feb 2026 21:43:33 +0000

How to Save on North Carolina Car Insurance

Car insurance is required for every driver in North Carolina — but that doesn’t mean you have to overpay. With recent changes to state minimum coverage limits, many drivers have seen premiums increase. The good news? There are smart, legal ways to lower your costs without sacrificing protection.

Here’s how to save money on car insurance in NC.

Understand North Carolina’s Minimum Requirements

As of July 1, 2025, North Carolina requires:

$50,000 bodily injury per person
$100,000 bodily injury per accident
$50,000 property damage
Matching uninsured/underinsured motorist coverage

These higher limits offer more protection — but they can also raise premiums. Before adjusting your policy, make sure you’re meeting the requirements set by the North Carolina Department of Insurance and the North Carolina Division of Motor Vehicles.

While it’s tempting to buy only the minimum, slightly increasing deductibles or adjusting optional coverages may reduce your monthly payment.

Shop Around — Even If You Like Your Company

Car insurance rates can vary significantly between companies for the exact same driver. In North Carolina, insurers still follow state-approved rate structures, but underwriting differences mean quotes can vary.

Get at least 3 quotes before renewing. Compare:

Liability limits
Deductibles
Discounts
Customer service ratings

Even switching every few years can lead to savings.

Raise Your Deductible (Strategically)

If you carry collision and comprehensive coverage, increasing your deductible from $500 to $1,000 can noticeably lower your premium.

Before making the change, ask yourself:

Could I comfortably pay that higher deductible after an accident?
Is my car’s value high enough to justify full coverage?

If you drive an older vehicle worth only a few thousand dollars, it may make sense to drop collision coverage entirely.

Take Advantage of North Carolina Discounts

Many drivers miss out on easy savings. Ask your insurer about:

Safe driver discounts
Defensive driving course discounts
Good student discounts
Multi-policy (bundling) discounts
Low-mileage discounts
Telematics or usage-based programs

North Carolina’s Safe Driver Incentive Plan (SDIP) means avoiding tickets and accidents can significantly reduce long-term costs.

Improve Your Credit Score

In North Carolina, insurance companies can use credit-based insurance scores when setting rates. Improving your credit can help lower premiums over time.

Ways to improve your score:

Pay bills on time
Reduce credit card balances
Avoid opening unnecessary accounts

Better credit often equals lower insurance risk in the eyes of insurers.

Review the “Inexperienced Driver” Factor

Recent law changes expanded the surcharge period for inexperienced drivers. If you’re under eight years of driving experience, your premium may reflect that.

Ways to reduce impact:

Complete driver training programs
Maintain a clean driving record
Stay accident-free

Over time, your rate should decrease as your experience grows.

Bundle Policies

If you own a home or rent in cities like Winston-Salem, Charlotte, or Raleigh, bundling home and auto insurance can save 10–25% with many carriers.

Even bundling renters insurance with auto can produce meaningful discounts.

Review Your Policy Every Year

Life changes affect your premium. Update your insurer if:

You drive fewer miles
You paid off your car
You moved
Your teen driver left for college
You improved your credit

Small updates can equal big savings.

Avoid Coverage Gaps

Letting your insurance lapse — even briefly — can cause higher rates and penalties from the North Carolina Division of Motor Vehicles. Continuous coverage helps you qualify for better pricing.

Don’t Just Chase the Cheapest Policy

The lowest premium isn’t always the best value. Make sure you have:

Enough liability coverage to protect your assets
Uninsured motorist coverage
Reasonable deductibles

Saving money is important — but being underinsured after a serious accident can cost far more.

Final Thoughts

Car insurance in North Carolina doesn’t have to break your budget. By comparing quotes, maximizing discounts, improving your driving record, and reviewing your coverage annually, you can often lower your premium without sacrificing protection.

Contact Paramount Insurance Agency today at 336-869-3335 for a personalized consultation or CLICK HERE for a quote.

The post How to Save on North Carolina Car Insurance appeared first on Paramount Insurance Agency.

How Credit Affects Your Car Insurance Rates in North Carolina

Tom Wiecek — Sat, 14 Feb 2026 21:59:30 +0000

How Credit Affects Your Car Insurance Rates in North Carolina

When it comes to car insurance in North Carolina, many drivers focus on things like their driving record, age, or the type of vehicle they drive — and those factors do matter. But one element that often flies under the radar is your credit history. In fact, insurers in North Carolina can — and regularly do — use credit information to help determine how much you pay for auto insurance.

What Insurers Look At: Your Insurance-Specific Credit Score

Insurance companies don’t use the same credit score a bank might review when you apply for a loan. Instead, they use a credit-based insurance score — a separate calculation that draws on your credit report to predict how likely you are to file a claim.

This score pulls from familiar credit factors such as:

Payment history
Amount of debt you carry
Length of credit history
Types of accounts you have open
Recent credit inquiries

Even if you’ve never filed an insurance claim or had a ticket, a weaker credit-based insurance score can signal to insurers that you’re statistically more likely to file a claim — and that can translate into higher premiums.

How Big of an Impact Can Credit Have?

While every insurance company uses its own algorithm, data shows that in North Carolina drivers with lower credit scores typically pay significantly more than those with stronger scores. According to industry research, drivers with poor credit may pay around 50-60% more in premiums than identical drivers with excellent credit — just because of credit history differences.

That means two drivers in the same zip code, with the same car and clean driving records, could end up with very different insurance bills — simply due to credit factors.

What Does North Carolina Law Say?

North Carolina does allow insurers to use credit information when setting auto insurance rates, but there are some important legal protections you should know:

Insurers cannot use credit alone to cancel your policy or refuse to renew it — they must consider other risk factors too.
If your rate goes up partly because of your credit score, the insurance company must notify you in writing and explain which credit factors influenced that decision.

This transparency helps you understand how your credit history is affecting your premium and gives you a chance to correct any inaccurate information on your credit reports.

What You Can Do About It

Even if your credit isn’t perfect, there are steps you can take to limit its impact on your insurance costs:

Monitor and Improve Your Credit
Keeping accounts in good standing, paying bills on time, and reducing outstanding debt can all help raise your credit-based insurance score over time.
Check for Errors
If your insurer notified you that your credit affected your rate, get a copy of your credit report and make sure everything is accurate. Errors can drag your score down unfairly.
Shop Around
Not all insurance companies weigh credit the same way. Some carriers may offer more favorable rates for drivers with less-than-perfect credit — so always compare quotes before renewing.

Final Takeaway

In North Carolina, your credit doesn’t just matter for loans and credit cards — it can play a big role in how much you pay for car insurance. By understanding how insurers use credit-based insurance scores and knowing your rights under state law, you can make smarter decisions and potentially save on premiums.

Have questions about how your credit affects your specific policy? Get in touch with a licensed agent — we’re here to help you find the best coverage at the right price.

Contact Paramount Insurance Agency today at 336-869-3335 for a personalized consultation or CLICK HERE for a quote.

The post How Credit Affects Your Car Insurance Rates in North Carolina appeared first on Paramount Insurance Agency.

Understanding Auto Insurance Deductibles: What Drivers Should Know

Tom Wiecek — Thu, 24 Apr 2025 14:47:10 +0000

Understanding Auto Insurance Deductibles: What Drivers Should Know

Auto insurance can be confusing, especially when it comes to deductibles. At Paramount Insurance Agency, we believe that informed drivers make smarter insurance choices. Here’s a simple breakdown of how auto insurance deductibles work and how they impact your coverage and costs.

What Is an Auto Insurance Deductible?

A deductible is the amount you agree to pay out of pocket before your insurance company covers the rest of a claim. For example, if you have a $500 deductible and your repair costs are $2,000, you would pay the first $500, and your insurance would cover the remaining $1,500.

Types of Deductibles

Collision Deductible – Applies when your vehicle is damaged in an accident, regardless of who is at fault.
Comprehensive Deductible – Applies to damage from events other than collisions, like theft, vandalism, fire, or weather-related damage.

Choosing Your Deductible Amount

Deductibles typically range from $250 to $1,000 or more. Choosing a higher deductible can lower your monthly premium, while a lower deductible may result in higher monthly payments but less out-of-pocket cost after an accident. It’s about finding the balance that fits your financial comfort zone.

When Do You Pay a Deductible?

You only pay a deductible when you file a claim for damage covered under your policy. You won’t owe a deductible if another driver is at fault and their insurance is covering your damages.

How Paramount Insurance Agency Can Help

We help drivers across North Carolina choose auto insurance policies that make sense for their needs and budgets. Our team explains deductible options clearly so you feel confident about your coverage. Whether you’re looking to save on premiums or minimize out-of-pocket costs, we’re here to guide you every step of the way.

Need help reviewing your auto insurance policy?

Contact Paramount Insurance Agency today at 336-869-3335 for a personalized consultation.

The post Understanding Auto Insurance Deductibles: What Drivers Should Know appeared first on Paramount Insurance Agency.

How Paramount Insurance Agency Can Help You This Tax Season

Tom Wiecek — Thu, 03 Apr 2025 17:44:34 +0000

How Paramount Insurance Agency Can Help You This Tax Season

Tax Day is quickly approaching, and while most people are focused on filing returns and maximizing deductions, it’s also a great time to reassess your financial security. Paramount Insurance Agency in North Carolina provides a range of insurance solutions that can complement your tax planning and financial strategy. Here’s how we can help:

1. Home Insurance & Property Deductions

If you own a home, you may be eligible for tax deductions related to mortgage interest and property taxes. Ensuring that your home insurance policy is up to date with the right coverage can protect this valuable asset. If you’ve made any improvements to your home, it might also be time to review your coverage to ensure your policy reflects its current value.

2. Auto Insurance & Business Use Deductions

If you use your vehicle for business purposes, you might be able to deduct certain expenses on your tax return. Paramount Insurance Agency can help ensure that your auto insurance policy includes the right coverage for personal and business use, keeping you financially protected while taking advantage of potential deductions.

3. Umbrella Insurance & Asset Protection

Taxes are a key part of financial planning, and so is protecting your assets. Umbrella insurance offers additional liability protection beyond your standard home or auto policies. As you assess your financial standing this tax season, consider whether you have adequate coverage to protect yourself from unexpected liabilities.

4. Commercial Insurance for Business Owners

Small business owners often have tax considerations such as deducting insurance premiums for business-related coverage. Paramount Insurance Agency offers commercial insurance solutions that safeguard your business assets while aligning with your financial strategies. We can help ensure you have the right policies in place to support your business growth while maximizing deductions where applicable.

5. Reassessing Your Coverage & Saving Money

Tax season is a great time to review all aspects of your financial situation, including your insurance policies. If your financial circumstances have changed over the past year, it might be time to adjust your coverage. Our team at Paramount Insurance Agency can help identify potential savings, discounts, or better coverage options to fit your evolving needs.

Get the Coverage You Need This Tax Season

As you organize your finances ahead of Tax Day, don’t forget about the importance of having the right insurance coverage. Paramount Insurance Agency is here to help you safeguard your assets, optimize your financial plan, and provide peace of mind. Contact us today for a policy review and ensure you’re covered for the year ahead.

The post How Paramount Insurance Agency Can Help You This Tax Season appeared first on Paramount Insurance Agency.

What to Do After an Auto Accident: A Step-by-Step Guide

Tom Wiecek — Thu, 13 Mar 2025 15:13:00 +0000

What to Do After an Auto Accident: A Step-by-Step Guide

Getting into an auto accident can be overwhelming and stressful. Knowing what to do immediately after a crash can help protect your safety, ensure compliance with the law, and streamline the insurance claims process. Paramount Insurance Agency in High Point, NC, is here to guide you through the necessary steps.

1. Check for Injuries and Ensure Safety

Your first priority is safety. Check yourself and passengers for injuries. If anyone is hurt, call 911 immediately. If it’s safe to do so, move your vehicle out of traffic to prevent further accidents.

2. Call the Authorities

Even if the accident is minor, call the police. A police report provides an official record, which can be crucial for insurance claims and legal purposes.

3. Exchange Information

Gather the following details from the other driver(s):

Name, address, and contact information
Driver’s license number
Insurance company and policy number
Vehicle make, model, and license plate number
Accident location and time

Avoid discussing fault at the scene, as liability will be determined later.

4. Document the Scene

Take clear photos of the vehicles, license plates, damages, road conditions, and any visible injuries. If there are witnesses, ask for their contact information.

5. Notify Your Insurance Provider

Report the accident to your insurance company as soon as possible. Provide accurate details and share any documentation you have collected. Your insurer will guide you through the claims process.

6. Seek Medical Attention

Even if you feel fine, some injuries, like whiplash, may not appear immediately. A medical evaluation ensures your well-being and provides documentation in case of an insurance claim.

7. What If the Other Driver Is at Fault?

If the accident was caused by another driver, their insurance should cover your damages and medical expenses. File a claim with their insurance provider and provide the necessary evidence, including the police report and photos. If they are uninsured or underinsured, your own policy’s uninsured motorist coverage may help cover costs. Consulting with an attorney may also be beneficial if liability is disputed or if you face difficulties obtaining compensation.

8. Follow Up on Your Claim

Stay in touch with your insurance provider and keep track of any paperwork. If necessary, consult with an attorney, especially if injuries or disputes arise.

Protect Yourself with the Right Auto Insurance

Accidents can happen at any time, but having the right coverage ensures financial protection. Paramount Insurance Agency can help you find the best auto insurance policy for your needs. Contact us today at 336-869-3335 for expert guidance and peace of mind on the road.

The post What to Do After an Auto Accident: A Step-by-Step Guide appeared first on Paramount Insurance Agency.

Review and Refresh: When to Update Your Insurance Policies

Tom Wiecek — Thu, 13 Feb 2025 15:07:02 +0000

Review and Refresh: When to Update Your Insurance Policies

Life is constantly changing, and so are your insurance needs. Whether you’ve recently purchased a new home, expanded your business, or even just upgraded your car, it’s essential to keep your insurance policies up to date. At Paramount Insurance Agency, we believe that regular policy reviews are a crucial step to ensuring you’re adequately protected. Here’s when you should consider updating your insurance policies and why it’s so important.

Why Update Your Insurance Policies?

Insurance is not a one-size-fits-all solution. As your life evolves, your coverage needs may increase or decrease. Failing to adjust your policies can leave you underinsured or even paying for coverage you no longer need. By reviewing your policies annually, you can:

Ensure adequate protection for new assets or life changes.
Take advantage of discounts or new coverage options.
Avoid gaps in coverage that could leave you financially vulnerable.

When Should You Review Your Insurance?

While an annual review is a good rule of thumb, certain life events warrant a closer look at your policies:

1. Home Insurance: After Home Improvements or a Move

If you’ve remodeled your kitchen, added a home office, or even installed a pool, your home’s value and liability risks have changed. Updating your home insurance policy will ensure that these new features are covered. Additionally, if you’ve recently moved, you’ll need to update your policy to reflect the new address and coverage needs.

2. Auto Insurance: New Car, New Driver, or Change in Driving Habits

Buying a new car? Adding a teen driver? Or maybe you’ve started working from home and driving less. Any of these changes can impact your auto insurance premiums and coverage needs. It’s a good idea to review and adjust your policy accordingly.

3. Umbrella Insurance: Major Life Changes

If you’ve recently purchased significant assets like property or investments, or if your net worth has increased, it’s time to consider an umbrella insurance policy. This additional coverage protects you from liability claims that exceed your standard home or auto insurance limits, safeguarding your assets from lawsuits.

4. Commercial Insurance: Business Growth or New Operations

For business owners, expanding your business, hiring employees, or introducing new products/services requires an update to your commercial insurance. This ensures that your growing enterprise remains protected from potential risks.

How to Review Your Policies

Here are some steps to ensure an effective insurance review:

Evaluate Current Coverage: Look at your existing policies to understand what is covered and what isn’t.
Assess Life Changes: Consider recent life events like marriage, new dependents, or property acquisitions.
Check for Discounts: Ask about new discounts or bundling options that could save you money.
Consult with Your Agent: An experienced agent at Paramount Insurance Agency can help you navigate complex policies and tailor them to your specific needs.

Schedule Your Insurance Review Today!

At Paramount Insurance Agency, we’re committed to helping you protect what matters most. Whether it’s your home, car, or business, we’re here to ensure you have the right coverage. Contact us today to schedule a complimentary insurance review. Let us help you stay protected and prepared for whatever life brings your way.

The post Review and Refresh: When to Update Your Insurance Policies appeared first on Paramount Insurance Agency.

Why Are Home and Car Insurance Rates So High in North Carolina?

Tom Wiecek — Thu, 26 Dec 2024 14:33:18 +0000

Why Are Home and Car Insurance Rates So High in North Carolina?

If you’re a resident of North Carolina, you may have noticed that home and car insurance premiums seem to be on the rise. At Paramount Insurance Agency in High Point, NC, we often hear from clients wondering why their rates are so high. While this trend is frustrating, understanding the factors behind these increases can help shed some light on the situation. Here are the main reasons why insurance rates are climbing in North Carolina.

Increased Weather-Related Risks

North Carolina’s diverse geography—ranging from the mountains to the coast—makes it particularly vulnerable to natural disasters. Hurricanes, floods, and windstorms have become more frequent and severe in recent years. Events like Hurricane Florence in 2018 caused billions of dollars in damage, and insurers are factoring in the increased likelihood of similar disasters in their pricing.

In addition to coastal storms, other weather-related risks like hailstorms and tornadoes also contribute to higher home and auto insurance rates. Repairing or replacing damaged homes and vehicles can lead to significant payouts for insurers, which, in turn, drives premiums up for everyone.

Rising Repair and Replacement Costs

The cost of building materials and labor has skyrocketed in recent years. Whether it’s lumber, shingles, or other materials, the price of repairs for homes has significantly increased. Similarly, the cost to repair modern vehicles has risen as cars become more technologically advanced. Features like sensors, cameras, and specialized parts make even minor collisions more expensive to fix.

Insurers must account for these higher repair and replacement costs when determining premiums. Unfortunately, this means higher costs for policyholders.

Growing Population and Traffic Congestion

North Carolina’s population has been steadily growing, particularly in urban areas like the Triad and Triangle regions. With more residents comes more traffic, which increases the likelihood of accidents.

High Point and surrounding areas have seen a boom in new residents, leading to crowded roads and a greater number of auto insurance claims. Insurers factor this increased risk into their rates, leading to higher premiums for everyone.

Litigation and Fraud

The cost of lawsuits and insurance fraud also plays a role in rising premiums. Some individuals exploit the system by filing exaggerated or fraudulent claims, driving up costs for insurers. Legal expenses for defending against lawsuits can also be significant, and these costs are often passed on to policyholders.

State Regulations

Insurance rates are heavily regulated in North Carolina. While this regulation is intended to protect consumers, it can also create challenges for insurers. For example, North Carolina’s Rate Bureau oversees rate changes, meaning that companies must balance competitive pricing with their need to cover risks and remain profitable.

What Can You Do?

While you can’t control the broader factors influencing insurance rates, there are steps you can take to ensure you’re not overpaying:

Bundle Your Policies: Combining home and auto insurance with the same provider often results in discounts.

Shop Around: Different insurers assess risk differently, so getting quotes from multiple companies can help you find the best rate.

Maintain a Good Credit Score: Many insurers use credit scores as a factor in determining rates, so improving your credit can lead to lower premiums.

Ask About Discounts: From safe driver discounts to home safety upgrades, there are many ways to save. Make sure you’re taking advantage of all available options.

At Paramount Insurance Agency in High Point, NC, we’re committed to helping you navigate the complexities of insurance. If you’re concerned about your rates or want to explore better options, give us a call today at 336-869-3335. Let us help you find the coverage you need at a price you can afford.

The post Why Are Home and Car Insurance Rates So High in North Carolina? appeared first on Paramount Insurance Agency.

“Stay Alive” During the Holiday Season

Tom Wiecek — Thu, 21 Nov 2024 21:13:55 +0000

“Stay Alive” During the Holiday Season

The holiday season brings love, family time, travel, and parties. However, if you aren’t cautious, it can also bring stress and anxiety, especially if something unfortunate happens while traveling. With Christmas and New Year’s fast approaching, more people are on the road in their personal cars. The increase in traffic raises the likelihood of being involved in an auto accident. Despite the congestion, you can prepare and take steps to avoid accidents and “stay alive” during the holiday season.

5 Safety Measures for the Holiday Hustle

Outfit Your Vehicle
Planning your trip includes preparing your vehicle with essential items before hitting the road. Make sure you pack:

A fully charged phone and chargers
A list of important numbers, such as roadside assistance, your N.C. independent insurance agent, and other emergency contacts
Non-perishable food and water
Blankets
Flashlights
Jumper cables
A first-aid kit
Necessary paperwork (N.C. driver’s license, inspection, and insurance card)

Don’t Drink and Drive
Holiday parties and social gatherings often involve alcohol, but drinking and driving is never worth the risk. Plan alternate transportation, such as designating a sober driver or using ride services like Uber or Lyft. A DUI can cost up to $10,000 in fines and lead to other costly consequences, including insurance premium hikes or policy cancellation.

Track Your Travel Route
If holiday travel is part of your plans, schedule your trips during lighter traffic times to avoid congestion. Always allow extra travel time during the holidays, as accidents are more frequent this time of year.

Maintain Your Vehicle
Routine vehicle maintenance is crucial for safe holiday travel. Avoid breakdowns in heavy traffic by having your brakes inspected, your battery tested, your tires rotated, and your oil changed before hitting the road.

Implement a Family Safety Plan
Before starting your trip, create a safety plan to protect everyone traveling with you. Set a designated meeting spot in case anyone gets separated, avoid going to restrooms alone, lock your car at all times, and keep personal belongings out of sight to deter thieves.

From Our Family at Paramount Insurance Agency to Yours

At Paramount Insurance Agency, our goal is to help keep you and your loved ones safe this holiday season. By following these safety tips, you can reduce stress and increase your chances of enjoying a joyful holiday. Happy holidays to you and your family!

The post “Stay Alive” During the Holiday Season appeared first on Paramount Insurance Agency.

Understanding ‘Ceded’ N.C. Auto Liability Insurance: What It Means and How to Respond

Tom Wiecek — Thu, 10 Oct 2024 15:42:09 +0000

If You Receive Notice That Your N.C. Auto Liability Insurance is Ceded, Will You Know What It Means?

If you own or operate a vehicle in North Carolina, you are required to carry auto liability insurance. While this may sound straightforward, it can be more challenging than expected. A poor driving record with multiple accidents or violations can create obstacles to obtaining or maintaining N.C. auto insurance. A tarnished driving record may lead an insurer to cede your auto liability insurance. But if you receive notice that your N.C. auto liability insurance is ceded, will you know what it means?

In most cases, auto insurance coverage cannot be denied. However, if your insurer determines that you pose a high risk, they can turn your policy over to the North Carolina Reinsurance Facility (NCRF). *Exclusions may apply, so contact your local N.C. independent insurance agent if you have questions.

The NCRF and What It May Mean for You

The North Carolina Reinsurance Facility, established over 45 years ago, provides auto liability insurance to drivers deemed “high risk,” sharing this risk among all its member insurers instead of placing it entirely on one company.

If your driving record is poor, an insurance company may decide to “cede” your policy to the NCRF. However, you aren’t required to stay in the Facility permanently. You can choose to improve your driving record over the next two years and aim to return to the voluntary market, where rates are typically more affordable. Remember that insurance premiums for high-risk drivers in the NCRF are often about 35% higher than those in the voluntary market.

The NCRF focuses on providing auto liability insurance and generally doesn’t include comprehensive or collision coverage for high-risk drivers. However, some N.C. insurers specialize in non-standard insurance for drivers needing or wanting these coverages.

Paramount Insurance Agency Can Answer Your Questions

If you receive notice that your N.C. auto liability insurance has been ceded, contact us at 336-869-3335 with any questions. We are a North Carolina independent insurance agency that understands how some companies are more likely to cede auto liability policies. We can work with you to explore coverage options and rates that might suit you better with another carrier. With access to top-rated insurance carriers, we can recommend a plan of action tailored to your current N.C. auto insurance needs as a high-risk driver.

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