Which type of insurance is covered by the North Carolina Post-Assessment Insurance Guaranty Association?

The North Carolina Post-Assessment Insurance Guaranty Association primarily covers homeowners insurance. This association aims to provide protection to policyholders in the event that an insurance company becomes insolvent. Homeowners insurance is typically included because it is a critical coverage that protects individuals and families from the financial consequences of damage to their homes and personal property.

The focus of the association is to ensure that residents can still receive benefits under their homeowners policies, thus providing peace of mind that even in the face of an insurance company failure, they will not be left without coverage for their living situation and associated liabilities.

In contrast, business liability insurance, life insurance, and commercial property insurance generally fall outside of the protections offered by this specific guaranty association, which is intended primarily to safeguard personal lines of insurance, such as that of homeowners.