Author: AgentInsure

Can I Cancel Home Insurance if I Have a Loan on My Home?

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Home insurance can be costly each month but it can also help to cover the damages that may occur to your home. For those that have a mortgage on their home, though it is not required by law, home insurance is something that is vital to being able to take out a loan. For those that live in the Matthews, NC area, the agents with JC Demo Insurance Group can help you to find the right home policy for you.

So the question is do you have to have insurance on a home that you have a loan out on. Put simply, yes. Most loan agencies are not going to offer you any sort of loan or mortgage if you do not hold a home insurance policy on the residence or property that you are trying to insure. The reason for this is that there is no way to recoup losses for the bank or other lending agency should it become damaged or destroyed if there is no home policy present.

The bank or other lending agency is going to work to make sure that they have their bases covered and that they can get their money back, even if the home is completely destroyed and therefore cannot be sold to get their money back. Many home loan agencies and banks will not extend a mortgage or a loan on a home or against the value of a home without there being a satisfactory home insurance policy in place. In many cases, if you get a mortgage without home insurance or without providing home insurance proof to your lending agency they will take out a policy on your home and charge you the premiums each month to pay for it.

If you live in the Matthews, NC area, the agents with JC Demo Insurance Group can help you find the right home policy.

How Will Auto Insurance Help Me If I Get Injured?

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Since North Carolina is an at-fault state, your medical coverage will come from the other driver’s insurance if you were the victim. However, it is also a contributory negligence state, so you have to be 100 percent the victim in order to be covered. If there is proof that something was faulty in your driving, you may not have all of your medical expenses covered. Since it is a complicated matter, you should consult with an insurance expert in Matthews, NC (like JC Demo Insurance Group).

Medical Payments Coverage

If the other driver is fully at fault, then their insurance will give you medical payments coverage. This type of coverage will be able to pay for your copays and deductibles from your medical insurance. Necessary treatments that your insurance does not cover may also be covered. Even if you are without health insurance, MPC will pay your bills. If the other driver does not have auto insurance, which is illegal, they will still be legally required to pay your bills.

What You Should Never Do After An Accident

  •   Do not apologize and brush the incident off. You need to go through the proper routine of having the authorities involved and swapping insurance information. If you allow the driver to get away, they can then accuse you of causing the accident.
  • Do not accept any cash settlements outside of court.
  • Do not attempt to move injured persons until the authorities arrive.

Since the legal system can be tricky in this state, you should have an expert help you when making a claim. If you within the Matthews, NC area, consult with JC Demo Insurance Group to help you learn about medical claims with auto insurance.

Does my business need its own workers’ compensation policy?

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You expect your business to be safe, but sometimes accidents just happen no matter how careful you are or how well you train your employees. Since your employees are your greatest asset, you want to do everything you can to take care of them. Workers’ Compensation Insurance helps make sure that when your employees are injured, their bills can be taken care of. When choosing an insurance policy in JC Demo Insurance Group, serving Matthews, NC, it is important to find out the requirements for your business.

Workers’ Compensation Insurance is Required in North Carolina

Any business in North Carolina with three or more employees is required to carry Workers’ Compensation Insurance, even if the workers are minors or undocumented workers. Even if the business has fewer than three employees, there is still a requirement to carry Workers’ Compensation Insurance if any of the employees’ work involves the use of radiation, or is in the presence of radiation.

Exceptions

There are several exceptions to the requirement for carrying insurance:   

  1. If the business has fewer than three employees, there is no insurance requirement.
  2. Domestic help and household servants are exempt.
  3. Agricultural employers are exempt unless they have 10 or more non-seasonal agricultural workers.
  4. Corporate officers must be included in the employee count, but do not have to be covered.
  5. Sole proprietors, LLC members and partners are not automatically counted, but may choose to be so.
  6. Even some truckers must be covered now, although they are considered independent contractors.

Most businesses will need to carry Workers’ Compensation Insurance. Failure to do so could result in fines or even criminal charges. You can explore your options by contacting the JC Demo Insurance Group serving Matthews, NC today.

What Happens to My Homeowners Insurance If I Move?

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Matthews, NC is nice but what happens if you move?  Will you homeowner’s insurance policy travel with you?  It is important to know what will happen if you move so you can be prepared for what’s to come. JC Demo Insurance Group knows that moving is stressful and that there are things you might forget. One thing that you might forget to ask about is your homeowner’s insurance policy. You might have a home owner’s insurance policy, but what happens to the policy once you move?

Take Action

Nothing happens. Before you move you need to contact your insurance agent to discuss your policy. You can then set up a date of cancellation for the old policy and help you transition to a new policy. Contacting your agent before you move may ensure that there are no gaps in coverage. Waiting to do this task might mean that you go without coverage for a period of time. 

Policy Terms

Looking at the terms of your homeowner’s policy might not be your top priority, but you should make it one.  Knowing your payment schedule and other details are important so you know what you’re dealing with. It is important to know the details so you can make the best decisions as you prepare to move.

Ask Questions

There are additional questions you might have as you think about your homeowner’s insurance. You may ask if you can simply transfer your existing policy?  The answer to this question is no. Every property has different.  Your new home will not be the exact same as the home you are moving from so it requires a new policy.

For more information contact JC Demo Insurance Group to talk to someone about your homeowner’s insurance policy before you move either to or from Matthews, NC.    

 

  

 

Are You Too Young for Life Insurance?

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Life insurance is something that many people in younger generations rarely think about but it may be time to start looking into it. While many people look into it later in life, there are benefits to getting it when you are younger. These are just a few of those benefits from JC Demo Insurance Group serving Matthews, NC.

  1. Life insurance is cheaper the earlier you get it. When you think about getting life insurance when you are younger, you can get a lower price for life insurance. Because you are younger, many people are in better health and if you can lock in those rates now, you will save money in the long run. 
  2. If you have children, you need to have life insurance. When you have children, you need to think about how you would ensure they are taken care of in the case that you are no longer here. Life insurance is a great thing that can do that for you. No matter your age, with children, life insurance should be something you invest in.
  3. If you have debt, then life insurance is a good way to ensure that those bills do not become a burden on your family members if you were no longer here. Student loans are becoming more and more prevalent among younger generations making life insurance, at least enough to cover your debts, a good idea.

Life insurance, as you can see, can be a good idea for many people that are younger. It is not something that is limited to people that are older. If you think that you would benefit from a life insurance policy, now is the time to get one so you can get a lower rate. Contact JC Demo Insurance Group serving Matthews, NC.

Did You Know Having Commercial Insurance Can Land New Business?

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What is the difference between a small business and large one? The size of the sales and customer base. But the leap to the next level in Matthews, NC or elsewhere doesn’t happen with lots of little sales. According to the JC Demo Insurance Group, it happens with contracts and graduating into the business-to-business world. However, while companies are always looking for subcontractors and vendors that improve their situation, they are not keen on taking partnering with a business that can’t protect itself. That’s where commercial insurance makes the difference.

When companies are looking for smaller supporters and vendors, they will oftentimes put in a requirement that such vendors have to show proof of insurance to take are of themselves if a contingency occurs. Those smaller businesses that can’t meet the requirement end up out in the cold. Those who do oftentimes win the kind of accounts and clients that help them grow to the next level.

So the relationship between insurance coverage and winning new business is clear. It literally opens up doors for a small business to expand its markets into new arenas and potential.

The JC Demo Insurance Group has multiple clients in Matthews, NC who have relied on their policies to meet the minimum requirements necessary for moving to the next level in business growth. They can help a new business craft exactly the type of coverage often required or needed, ensuring a small business has what it needs to not be eliminated unnecessarily from opportunities. Call them, visit their website or email to find out more valuable business growth information today.

 

 

What New Homeowners Need to Know When Pricing Out Home Insurance

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JC Demo Insurance Group, serving the greater Matthews, NC area, knows that buying home insurance for the first time can be complicated. Here are three tips homeowners need to know when pricing out home insurance to make the process a little bit easier on you.

How Much Coverage You Need

One of the most important things you need to know when pricing out home insurance is how much coverage you will need. The amount of coverage you need has one of biggest influence on the price you will pay. If you don’t know how much coverage you will need, talk to a couple of different insurance agents to get an idea for what they recommend and why.

What Deductible You Can Afford

If you need to file an insurance claim, you will need to pay your deductible before insurance kicks in and covers anything. Carefully consider how much of a deductible you want as it has an influence on the final price you are quoted for homeowners insurance.

What Discounts You Are Eligible For

There are many different discounts you may be eligible for when it comes to home insurance. Bundling policies and having a home security system are just a couple of the discounts you may be eligible for. Always take the time to learn about the various discounts that are offered and find out if you may qualify for any of them. Then be sure to ask about them when getting quotes for home insurance.

If you are looking to price out a new home insurance policy, contact JC Demo Insurance Group, serving the greater Matthews, NC area. Our staff can help you determine what coverage amount you need, the right deductible amount for you and which discounts you may qualify for. Give us a call today to schedule an appointment to discuss your homeowner’s insurance needs.

Reasons Millennials Need Life Insurance

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Many in the millennial generation do not think they need life insurance but in reality, it is possibly the best time to purchase your life insurance policy. Whether you think that you do not need it because you are in perfect health or because you are too young to need it, it is time to reconsider and change your way of thinking. To help you better understand, take a look at these reasons from JC Demo Insurance Group serving Matthews, NC. 

  • It is less expensive now. The younger you are, the less you will pay for life insurance. If you wait until you are older, you will risk paying more. It makes more sense to lock in a lower rate now and you should look for a policy that offers a rate lock. 
  • You have a lot of debt. It is no surprise that you likely have debt whether it is in the form of credit card debt or student loan debt. Either way, you do not want to stick that debt on one of your loved ones so getting a life insurance policy helps take care of that for you. 
  • You may have children. If you have children, then you should consider getting a life insurance policy that will help you take care of your children even after you are gone. 
  • You can have built-in savings. There are some policies that offer investment vehicles and ways for your insurance policy to grow over time. Since you are younger, you will have more time for it to grow and become another nest egg for you. 

Now that you know the benefits of having life insurance now, you should contact JC Demo Insurance Group serving Matthews, NC to get your quotes and start the process of applying. 

Does Auto Insurance Cover the Cost of Pets in your car?

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Our pets are like family and for many, it is a gamble to get them into the car. There are some that worry that their pets are not covered it the event of an accident. For those in the Hope Hills, NC area, the agents with Cross Creek Insurance can help you to understand just what your pets are covered for.

For the most part, pets are covered to a certain extent on all auto policies without your having to buy any extra coverage. What this means is that injury to pets is covered up to $1,000 for bills to the vet but this is not going to cover the cost of all the bills in the event of very serious injury. If your pet is just in need of a check up after an accident, the built in coverage will be enough to serve your needs. If your pet is seriously injured you are going to have to pay the remainder of the bill out of pocket.

Overall, if you have pets that travel with you in the car once or twice every few months, you are likely not going to need a huge policy to cover them. If they ride with you often, however, your risk of them being injured in an accident is much higher and you likely need more coverage. For those that have their pets in the car often, it may be beneficial to take out an extra umbrella of coverage to take care of them. You can purchase extra coverage through your auto policy or you can purchase a separate pet policy that covers your pet both in the car and at home. For those in the Hope Hills, NC area, the agents with Cross Creek Insurance can help you to cover your pets.  

Is It Time To Update Yor Auto Insurance Policy?

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North Carolina drivers take out auto insurance for two basic reasons. First and foremost, to cover the costs associated with accidents and other losses. Secondly, because the state mandates that drivers have liability and uninsured motorist coverage. But the state’s low thresholds could fall far short of actual losses involving crashes and property damage. That’s why it may be a good idea to update your current policy. At the JC Demo Insurance Group, our trained professionals are available to work with people in the Matthews, NC area to create and update policies.

Minimums Don’t Provide Adequate Coverage

Mandated coverage limits are likely to fall far short in the event of a significant car accident. Between the high cost of medical treatment, surgery or rehabilitation, those limits could be quickly exceeded. Once that happens, you could face a civil lawsuit if found to be negligent. Being in a situation where you could have your wages garnished or liens placed against property makes little sense when you could have simply put adequate coverage limits in place. It’s important to not put yourself in a vulnerable position by being underinsured.

Opt for Optional Insurance

Optional coverage tends to be a cost-effective way to help avoids out-of-pocket expenses. For example, having adequate collision insurance could come in handy for expensive repairs associated with a crash. Stop and think about how much bodywork and repainting alone could run. Do you really want to pay that out of your earnings?

Taking out comprehensive coverage also makes good sense. There’s no knowing when a vandal could scratch of spray paint your vehicle. It’s important to be prepared for the unexpected. There are also plenty of miscellaneous expenses associated with auto accidents such as towing and car rentals while your vehicle is being repaired. They say the “devil is in the details” and it may be time to take a long look at your auto policy and make some changes.

At JC Demo Insurance Group, our industry professionals are available to update existing policies so that you have adequate coverage should the unexpected occur. It’s our pleasure to serve the good people of the Matthews, NC community and we look forward to working with you.