What Is a Declaration of Eligible Risk in North Carolina?

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    Also called the MVR-615 form, a Declaration of Eligible Risk is a document in which you state that you are eligible to obtain car insurance in the state of North Carolina. 
    On the form, the following scenarios are listed as something that would qualify a person to purchase insurance in the state: 
    • You are a resident of the state with a valid driver's license.
    • You are a resident of the state with a vehicle registered or mainly garaged in North Carolina.
    • You are a person required to file proof of financial responsibility. 
    • You are a non-resident of the state who owns a car that is mainly garaged in the state. 
    • You are a non-resident who is a member of the armed forces stationed in the state or is a member of the armed forces deployed outside of North Carolina from a home base in the state. 
    Being able to check one or more of said statements would qualify you to obtain car insurance. 

    Registration Requirements in North Carolina 

    While the Declaration of Eligible Risk is one of the requirements for registering a car in the state, it is certainly not the only one. The entirety of the requirements can be divided into two main categories: personal information and insurance information. 
    Personal Information: The following documents are required when registering a car. They cover the information needed to guarantee that the vehicle you're registering is yours, including:  
    • You North Carolina driver's license.
    • A vehicle title. 
    • A title application form.
    Insurance and Declaration of Eligible Risk Requirement: The insurance requirements associated with registering your car can be significantly more extensive.
    In North Carolina, the minimum car insurance coverage requirement per person is $30,000 for liability insurance and $25,000 for property damage. However, as previously mentioned, it's not enough to just be covered. You will have to take your declaration of eligible risk with you to the DMV along with your proof of insurance. 
    If you happen to default on your insurance or suffer any lapses, the insurance company will notify the DMV; this could result in a temporary loss of your license plate as well as some penalty fees. In some severe cases, the state can even refuse to register your car. This usually happens whenever you fall into one of the following situations:
    • You have an active debt with the DMV.
    • A credit warning.
    • Unpaid child support.
    • An error in your documents.
    • Unpaid taxes.
    • Lack of insurance. 
    • Drunk driving offenses.
    • An indication that your vehicle has been recently stolen.

    Fees Involved 

    The process incurs several fees that vary depending on the type of vehicle, county, and other factors. But, for the most part, these are the standard costs for private-use vehicles:
    • Certificate of title: $56.
    • Registration fee: $38.75.
    • Taxes (vary depending on the county).
    • Notary fees (depends on the number of signatures requested).

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