§ 20-359.1. Insurance requirements. - North Carolina Statutes

§ 20‑359.1.  Insurancerequirements.

(a)        No license shall beissued or renewed pursuant to this Article unless the applicant files with theDepartment a certificate or certificates of insurance, from an insurancecompany or companies authorized to do business in this State, providing:

(1)        Motor vehicleinsurance for bodily injury to or death of one or more persons in any oneaccident and for injury to or destruction of property of others in any oneaccident with minimum coverage of three hundred fifty thousand dollars($350,000) combined single limit of liability;

(2)        Comprehensivegeneral liability insurance with a minimum coverage of three hundred fiftythousand dollars ($350,000) combined single limit of liability, includingcoverage of operations on North Carolina streets and highways that are notcovered by motor vehicle insurance; and

(3)        Workers'compensation insurance that complies with Chapter 97 for all employees if theperson is licensed as a professional housemover. The exemptions in G.S. 97‑13from the provisions of Chapter 97 shall not apply to licensed professionalhousemovers.

(b)        The certificate orcertificates shall provide for continuous coverage during the effective periodof the license issued pursuant to this Article. At the time the certificate isfiled, the applicant shall also file with the Department a current list of allmotor vehicles covered by the certificate. The applicant shall file amendmentsto the list within 15 days of any changes.

(c)        An insurancecompany issuing any insurance policy required by subsection (a) of this sectionshall notify the Department of any of the following events at least 30 daysbefore its occurrence: (i) cancellation of the policy, (ii) nonrenewal of thepolicy, or (iii) any change in the policy.

(d)        In addition to allcoverages required by this section, the applicant shall file with theDepartment a copy of either: (i) a bond or other acceptable surety providingcoverage in the amount of twenty‑five thousand dollars ($25,000) for thebenefit of a person contracting with the housemover to move that person'sstructure for all claims for property damage arising from the movement of astructure pursuant to this Article, or (ii) a policy of cargo insurance in theamount of fifty thousand dollars ($50,000). (1981, c. 818, s. 1; 1991(Reg. Sess., 1992), c. 813, s. 1.)