What generally qualifies a property for coverage under the North Carolina FAIR Plan?

A property qualifies for coverage under the North Carolina FAIR Plan primarily because it is uninsurable through the standard market insurance options. The FAIR Plan serves as a safety net for properties that are high-risk and cannot secure coverage due to factors such as location, condition, or prior claims history. This plan is specifically designed to provide a means of insurance for properties that otherwise cannot obtain coverage in the regular insurance market.

In this context, the options that mention previous claims, ownership status, or location in a flood zone do not align with the primary criterion for being eligible for the FAIR Plan. The plan recognizes the challenges faced by certain properties and aims to provide essential coverage rather than focusing solely on ownership or prior claim history. This makes the identification of properties that cannot be insured in the conventional manner the key qualifying factor.