Your home insurance rates in North Carolina are based on many factors. By understanding the common major factors, you may be able to find areas where you can save on your yearly premiums.

The value of your home

The amount it will cost to insure an $80,000 home will be less than the cost for a $300,000 home. This factor also depends on the type of repair or replacement insurance. Options include actual value or replacement insurance. The amount of your deductible plays a role in your premium as well.

The risks to your home

The location of your home and the type of construction are major factors in calculating your homeowners insurance premium. If your home is located in an areas with a large number of wild fires, hurricanes or tornadoes, your premiums will be higher.

You cannot necessarily move your home to a better location, but you can take some steps to reduce risks. Smoke, fire and burglar alarm systems can reduce you costs.

Older homes with older roofs, outdated plumbing, HVAC and electrical systems, will cost more to insure. The insurance company is looking at the risks the home presents. Updating these systems can go a long way to reducing your insurance costs.

Additional factors

Your claim and credit history are considered in an insurance quote. If you file frequent claims, your insurance costs will be higher than if you do not. If the claim amount is small, consider handling it without insurance. Homeowners with a higher credit rating are seen as less of a risk than those with a poor credit history.

Property features also have an impact. If you have a swimming pool, trampoline or a dog that is characterized as aggressive, you insurance costs will be higher.

The independent agents at JC Demo Insurance Group are ready to help you get the lowest home insurance rates possible. You can also compare quotes online. Call us today to see how you can save on your insurance premiums.

When you’re selecting homeowners insurance, one of the decisions you have to make is whether to choose actual cash value or replacement cost value in the event that your belongings are damaged, destroyed, or stolen. These two terms may sound interchangeable, but in reality the differences have a big impact on how much you receive after a claim.

Actual cash value looks at the value of the property, and then adjusts the cost for depreciation. The depreciation adjustment looks at the age of the property to calculate loss due to wear and tear. The value produced is the cost of the item minus what the insurance company calculates for the deprecation.

Replacement cost value does not factor in depreciation. Instead, it simply looks at the cost it would take to replace your property with comparable, new items. To get claim money from replacement cost value policies, you need to replace or repair the item to provide the insurance company with the actual cost of replacement.

Replacement cost value provides you with more thorough coverage on your property, but these policies are more expensive than actual cash value policies. Some insurance companies also offer agreed upon value as a third option. The insurance company creates a list of standard replacement costs for various item types, and that’s what you end up receiving if you need to make a claim.

The last thing that affects how much you receive from the insurance company for a property claim is co-insurance. If you do not report the full value of your insured property, co-insurance levies a penalty against the amount that you receive for the claim. The actual penalty amount varies from company to company.

It happens more often than you might think. Someone hits the gas instead of the brake–or stops paying attention for a split-second–and your garage door crumples like a paper bag. Now what? Whose insurance covers the damages?

Does homeowner’s insurance pay for garage door damage?

The only way to find out for sure whether or not your home insurance covers garage door damages is to call your agent or read your policy to find out. If your insurance policy lists "collision" as a named peril, then driving into your garage door is almost certainly covered, though it does depend on who was driving the car when the accident occurred.

If you or a member of your family was driving the vehicle that damaged your garage door (or a section of your home), your homeowner’s insurance is the most likely candidate for covering the damage. If someone else was driving the car, their auto liability insurance should cover the damages.

If my home insurance won’t pay for the damages, what are my other options?

If you’ve checked your policy and determined that your home insurance won’t pay for the garage door damage, your next step is to check with your auto insurance provider to see if your policy covers the damage. If you have a comprehensive policy, it might cover the damages to your car and to your garage as well.

If you have more questions, you can find answers by contacting us here in Matthews, NC. As local agents, we’ll be able to give you a good idea of the type of insurance that will protect you and answer questions about the ways auto and homeowner’s insurance overlap.

Getting a divorce can result many different changes, but it does not necessarily mean that a husband and wife are no longer under the current life insurance policy of other individual. Life insurance policies do not make automatic changes to the beneficiary of a plan, so it is necessary for you to change the person listed as your beneficiary if you get divorced and no longer want your ex-spouse to receive the funds if you pass away.

Providing Proof

Depending on your insurer, it may be necessary to provide proof of the change to your life situation and circumstances before you are able to make changes to your current policy. Some insurers may allow you to make changes on a regular basis without proof of a divorce, but sudden alterations or changing certain types of plans may require additional documentation.

Proof of the change to your life circumstances can take the form of a copy of the documentation after you leave the court.

Keeping the Current Beneficiary

Just because you are no longer married, it does not mean you are required to change the beneficiary on your plan. Insurers allow you to name any individual or organization as your beneficiary. You can also name more than one person with a set percentage of the amount.

If you determine that you want to maintain coverage and keep your ex-spouse as your primary beneficiary, then you do not need to make any changes or you may want to focus on altering the percentage if you have more than one beneficiary.

An ex-spouse is not automatically removed from your life insurance plan, so making any changes will require you to contact your insurer. Contact us to talk to an independent agent for more information.

Nothing is more irritating than finding that expensive personal belongings have been stolen from your house. Depending on the situation, you may discover that your homeowners insurance has limitations on the coverage that you have purchased. When your lawn equipment is stolen from your house, you may have coverage to help pay for the replacement cost, but the amount that is available can vary.

Provisions for Theft

Many homeowners insurance policies do have solutions to help pay for the replacement of personal belongings that are stolen from your house, including the lawn equipment. The problem that may arise is related to the amount and the method of calculating the loss.

Some insurers will give the full replacement value of the item. Other insurers may only offer the replacement value after subtracting the depreciation rate from the item. You may also discover that there is a maximum limitation on how much you can claim for personal belongings like lawn equipment.

Protecting Against Theft

Before you assume that your policy has enough to protect against the theft of expensive items, evaluate the details of your plan. In some cases, you may need additional protection due to the high cost of replacing lawn equipment or the limitations in your policy. Many insurers will only provide a percentage of the policy to help pay for the replacement of stolen items. That may mean that you do not have enough to pay for the full cost of replacing expensive equipment.

Every insurance policy is different, so the details about your plan may vary. In some cases, you may want to consider additional protection for expensive equipment or items if you are not sure that your current plan is appropriate. Contact us to talk to an agent for more information.

Putting in a security deposit with your landlord in Matthews, North Carolina is a normal way to ensure that any damages to the property are paid after you move out. If damages were not related to normal wear and tear, then your landlord may keep a portion of the security deposit to pay for the damaged property. When this happens, you may or may not be able to make a claim on your renters insurance.

Different Situations

A homeowners plan that is designed for renters can cover very specific concerns. In general, renter’s insurance may cover liability, personal belongings and similar concerns. You may or may not be covered against the damages to the home that you rented, depending on the situation.

Every insurer offers policies that are appropriate for the company and the concerns that you want to address.

Causes of Damage

Since you may have some protection against certain losses, it is possible that the cause of the damage and the reason that the landlord is keeping the deposit may allow you to make a claim.

Damages that were caused by a fire, an accident or any similar situation may be covered by some insurers. The key is finding out what is covered and what is not based on the information provided in your insurance policy.

Renting an apartment can seem complicated, especially when you put in a deposit that you expect the landlord to return. Depending on the situation, you may or may not be able to recover the funds. Contact the JC Demo Insurance Group to talk to an independent agent for more information about your options and the claims process.

To determine the value of any home, the best practice is to have a home appraiser out to the location and to allow for a thorough evaluation of the property. However, for insurance purposes, this may not be necessary. For homeowners in Matthews, North Carolina, or the surrounding area, it is possible to get some help from an independent agent on estimating this value.

Factors to Consider

For insurance needs, the homeowners policy should cover the value of the home as a replacement value. If the home were to burn down, for example, the homeowner would likely want to rebuild the property. The value of the home, then, must take into consideration the cost of rebuilding it by today’s standards.

In addition to this, an insurance policy should also take into consideration any valuables in the home that would need replacing. This includes basic items, like furniture and clothing. It also includes appliances. In many cases, homeowners need to up the value of their home to include any highly valuable items in the space, including electronics, collectibles, and jewelry.

Getting the Right Figure

By working closely with an insurance company in Charlotte, Concord, or the surrounding area, it is possible to get an accurate estimate of the home’s value. In addition to this, individuals may wish to compare similar properties in the area. Talking to a contractor can also provide specifics about hard-to-value homes.

The key is not to focus just on the home’s value, but also on the cost to replace contents and to actually do the building of it. All of these factors play a role in determining how much insurance a home should have to ensure it is protected from unknown risk factors.

Homeowners insurance covers a wide range of potential problems that may arise. Depending on the policy, the exact details regarding what is covered in Concord, North Carolina may vary. Regardless of the specific details, most insurers will offer some protection under the basic policy for a detached garage.

Other Structures

Coverage for a house often includes a section for other structures that are kept on the property, but may not be attached to the house. For example, a detached garage or a shed would be classified as another structure under an insurance policy.

Although many insurers will protect the home from losses to other buildings or structures that are placed on the property, the exact amount of coverage may vary.

Typical Percentage

Since a detached garage is not part of the house, the amount of protection that is available is limited. In most cases, insurers will give a set percentage to pay for damaged to a structure that is in the yard or on the property. You may be able to claim up to 10 percent of the coverage amount, depending on the insurer and the specific details of the policy.

Although some insurers offer as much as 10 percent to pay for damages to a detached garage, every policy is different. Read through your policy to determine the exact percentage that the insurer covers and to find out if there are any exceptions that may make your claim ineligible.

Every insurance provider is different, so the details of a policy may vary. The best way to determine if you are covered and how much coverage you have on detached structures is by reading your policy. To learn more about home insurance options, contact us to talk to an independent agent.

A homeowners insurance policy is designed to protect a house, condo or similar structure that you purchase. Although you may live in a caravan or mobile home in Matthews, North Carolina, a homeowner’s policy is not the right type of insurance plan for the vehicle.

Ability to Move the Structure

The key reason that a homeowner’s insurance policy is not appropriate for a motor home of any type is the possibility of getting into an accident on the road. When you move your home, it is possible that you will get into an accident. As a result, the possibility of liability claims and the risk of damage is much higher than the risks associated with a house.

Motor Home Insurance

When you purchase a mobile home, it is important to find coverage that is specifically designed to address the possible problems that may arise in the vehicle. Mobile home policies are the appropriate solution because the plan will cover road accidents, potential fires and other problems that are related to a house or a car.

A house that is mobile is not the same as a house that stays on the land. You need specialized insurance that can address all of the potential liability concerns, damages that may arise or dangers that are associated with the property.

A homeowner’s policy will not cover a caravan, even if that is where you live. The best way to find the coverage that you need when you own a mobile home is by working with an agent to compare your options and address all of you concerns. If you want to find the right policy for your property, then contact us today to talk to an independent agent.

Although the belongings of a short-term guest in your home is usually covered under a Concord, North Carolina homeowners insurance policy, a roommate does not have the same level of protection. The reason is that the risk of their belongings being lost or stolen is much higher than a guest who is staying for a short period of time. If that individual is not listed on your policy, then it is unlikely that your roommate’s belongings are covered.

Renter’s Insurance

If you do not feel comfortable putting a roommate on your policy and you are renting a room, then that individual may be able to obtain renter’s insurance to protect her belongings. Her personal belongings are her responsibility and your insurance many not provide any protection as long as she is not listed.

Listing Individuals

Unless your roommate is also a family member, you may not be able to list her on your policy. Although insurers have different rules and company policies that they follow, the options to protect your roommate’s personal belongings may not include listing her on your policy.

Family members who move into your home, such as a sibling, a parent or even a cousin, might be eligible for you to list on your policy. Before you assume that your insurance will cover them, contact your insurer and read through your policy for any exceptions or details.

In most cases, a roommate is not covered under your home insurance policy. You may or may not be able to list the individual, depending on the situation, but it is usually a good idea to suggest that your roommate obtain renter’s insurance, which will protect her belongings and provide some liability protection. To learn more about homeowner’s insurance, contact us to talk to an independent agent.