Let’s start with what we know you must have in North Carolina. North Carolina requires you to carry a minimum of liability insurance consisting of split limits of 30/60/25, or in plain English – $30,000 bodily injury liability, $60,000 total bodily injury for all persons in an accident, and $25,000 for property damages in each accident.
Experts recommend that you buy enough liability coverage to cover your assets. If you own a home, have money invested in stocks and bonds or savings accounts, or own items that could be considered assets (i.e., antiques, expensive jewelry, etc.), you should think seriously about protecting those assets in the event of a lawsuit resulting from an at-fault accident.
What does this mean to you? Well, suppose you purchase only the required minimum liability coverage ($30,000) and you have assets worth $50,000. If you or someone covered by your policy is involved in a motorcycle accident and held legally at fault, the other person involved in the accident can go after your assets if their expenses (auto repairs, medical bills, etc) exceed the amount of your bodily injury liability limit of $30,000.
Basically, they can hire attorneys and come after your property. Be certain that your policy covers or exceeds the value of your assets.