PROPERTY DAMAGE
In general, the liability carrier (insurance company) must either pay to repair a faultless claimant’s car or reimburse the claimant for his car’s Fair Market Value (FMV) if it was a total loss. According to North Carolina’s insurance regulations, a car is a total loss if it would cost 75% or more of the FMV to fix it. The insurer also has to pay for a rental car for a reasonable time to fix or replace the claimant’s car; however, the insurance regulations only require reimbursement for a rental car for three days after an offer is made on a total loss, regardless of whether or not the offer is accepted.