What are the maximum liability limits provided by the North Carolina Motor Vehicle Reinsurance Facility for personal injury coverage?

The maximum liability limits provided by the North Carolina Motor Vehicle Reinsurance Facility for personal injury coverage are established to ensure adequate financial protection following motor vehicle accidents. The liability limits of $100,000 per person and $300,000 per accident are designed to cover medical expenses, lost wages, and other related costs stemming from injuries sustained in an accident.

This standardization helps facilitate the provision of necessary coverage for individuals who may otherwise struggle to secure adequate insurance due to higher risk factors. By setting these limits, the Motor Vehicle Reinsurance Facility aids in protecting public safety and ensuring that injured parties receive financial compensation for their losses.

Understanding these limits is crucial for both policyholders and insurance professionals, as they outline the extent of coverage required under North Carolina law and help in making informed decisions regarding insurance policies.