Worried about finances during this time? More help is on the way.
North Carolina Insurance Commissioner Mike Causey has activated an emergency declaration that allows you to defer insurance premium payments if you're a NC resident. The order was activated as a result of President Trump's March 25th Major Disaster Declaration approval for the State of North Carolina.
The Commissioner's order applies to all insurance companies including health insurance, residential property and automobile insurance. This order also applies to collection agencies, motor clubs and premium finance companies licensed by the North Carolina Department of Insurance. The order will defer not only premium payments but will also defer statutory time requirements. Notices of cancellation, for example, will be deferred.
Once the deferral expires, you will still be required to bring your payments current to avoid cancellation.
"My hope is this deferral will provide policyholders breathing room while they get back on their feet as a result of economic hardships due to the COVID-19 health emergency," Commissioner Causey said.
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