Month: May 2019

Is Your Auto Insurance Coverage Too Low?

Posted on by AgentInsure

Have you ever wondered if your car insurance coverage was enough to take care of you in the event of a serious accident? Our JC Demo Insurance Group team has put together this short guide to help you determine whether the coverage you carry on your auto insurance policy is just right or too low.

Understanding State Minimum Limits for North Carolina Drivers

Before we can discuss whether a basic policy is sufficient, it is important to know what’s required by law. In North Carolina, the minimum liability limits are $30,000 per person for bodily injury with a $65,000 maximum aggregate per accident. Drivers are also required to carry $25,000 or more in property damage coverage. Comprehensive and collision coverage is considered a first-party coverage and is not required unless you have a loan on your vehicle.

Is State Minimum Coverage High Enough?

In most cases, state minimum coverage is high enough. However, if you’re involved in a major accident that is determined to be your fault, there’s a chance that this amount is not high enough. Medical bills for a serious incident easily range in the hundreds of thousands of dollars and repairs to fix brand-new vehicles can easily exceed a $25,000 threshold.

Why You Should Consider a Higher Limit

One of the most common questions North Carolina drivers ask is whether they should carry higher limits on their auto insurance policy. If you have substantial assets—like a home or a business—or a moderate income, state minimum limits might not be enough if you’re involved in a serious accident. In turn, this could potentially leave you open to a possible lawsuit in the future.

JC Demo Insurance Group is proud to assist Matthews, NC residents with all of their auto insurance needs. Please contact us today to schedule an appointment.

Home Insurance for Newbies

Posted on by AgentInsure

Home insurance may be new for those who are buying their first home. There are a few things that you should know when you are looking for a policy. Talk to a professional, like the ones at JC Demo Insurance Group in Matthews, NC so that you can ask questions that they will be able to answer.

Basic Insurance Coverage

  • Internal and external damage may be covered if it states in your policy that you will be covered for costs associated with damages to your home due to storms, vandalism, lightning, and fire. If your home had flood or earthquake damage, you would need to get a special policy, known as a rider, to cover the cost of the repairs.

  • Your clothing, furniture, and appliances can be replaced, repaired, or reimbursed for the cost depending on your plan’s details.

  • Liability would be a big issue if someone trips and falls on your property, and they were injured due to your negligence. You would have to spend thousands of dollars out-of-pocket for the individual’s medical costs. If you have to go to court, you could also pay court and lawyer fees. This could be avoided with liability insurance attached to your homeowner’s policy.

Replacement Coverage

  • Actual cash value is when your damaged items are refunded minus depreciation costs. If your furniture is destroyed in a fire, then the actual cash value would be the value of the furniture at today’s prices, not at the price you paid for it.

  • Replacement cost is the value of your damaged property at its cost but without the depreciation.

When you’re ready, you can stop by the offices of JC Demo Insurance Group in Matthews, NC to start your insurance policy today. You can also get great information about life insurance, auto insurance, and commercial insurance.