No permit may be approved unless the applicant has satisfactorily proved its financial responsibility. Proof of insurance coverage equivalent to that required for licensed house movers by G.S. § 20-359.1 as it presently exists or may be hereafter recodified shall be considered satisfactory proof of financial responsibility and the fact that an applicant is licensed as a house mover by the department of transportation shall be sufficient to prove his compliance with this section. In the case of an individual not required to be licensed, the applicant may prove its financial responsibility by providing the Building Inspector or the Board, as the case may be, with documentation satisfactory to the building inspector or the Board that the applicant has appropriate and adequate insurance coverage or that the applicant has posted a bond or other adequate surety for the benefit of any person filing a claim for personal injury, death, or property damage arising from the movement of a house pursuant to this section. The adequacy of the insurance coverage, bond, or other surety shall be determined in the reasonable discretion of the issuing officer or Board.
(OC, § 4-1-18(e))