The liability insurance limits on vehicles operated by subrecipients will be determined by the Integrated Mobility Division (IMD). The Rules and Regulations of the North Carolina Utilities Commission and any applicable Federal regulations will be considered. These limits exist for the protection of the public and motor carriers of passengers.Liability Insurance Requirements:
- Vehicles 16 passenger or more ‐ $5,000,000 per occurrence
- Vehicles 15 passenger or less ‐ $1,500,000 per occurrence
Collision Insurance Requirements: The grantee must insure any vehicles against loss in an amount equal to or greater than the state and/or Federal share of the real value of the vehicle.
Annual Insurance Certification:
- A certificate of liability insurance coverage that demonstrates the applicant is complying with the Liability Insurance Requirements set by IMD must be submitted to IMD on an annual basis.
- A vehicle schedule listing the vehicles the grantee has covered with liability and collision insurance must also be submitted.
Self-Insurance – Reserve Fund: Documentation of the insurance, payment and vehicles covered are required.
Third-party Contractors: IMD’s liability insurance requirements apply to all third‐party contractors operating in the shoes of the grantee.