What to Include in a Home Inventory Chart

Posted on March 18, 2019 by AgentInsure

Keeping a home inventory chart of your property can save time in filing an insurance claim. Fire or theft may cause you to rely on your memory in listing missing items. There may also be questions as to the validity of a claim without proof of existence. Take these steps to assure that your property can be easily accounted for in the insurance claim process.

Save Receipts

Begin saving receipts for items purchased. Other forms of purchase can also help in proving ownership. These include:

Product Warranties
Manuals of Instruction
Credit Card Statements
Bank Statements

Take Photos

A picture is worth a thousand words when trying to explain what type of property is gone. Make sure that all photos are clear and taken in color. Other factors to keep in mind include:

Write a serial number on the back of photo
Date all photos
Designate room where the item was located
Photograph open drawers and closets to show the quantity

Other Tips

If you are using an iPhone, download the information to a disc that can be removed and stored off-site. You never know if your phone will be destroyed, as well. An agent, such as Don Allred Insurance that serves the Burlington, NC region, may be able to offer more suggestions specific to your homeowner’s policy.

Once you have collected all of the home inventory information, compile into a chart with costs. Make an appointment to discuss your list with your insurance agent. You may find that your homeowner insurance replacement limits need to be adjusted. If you live in Burlington, NC, call Don Allred Insurance to discover more facts about how keeping a home inventory chart can be a huge benefit should disaster strike.

Do I still need auto insurance now that my vehicle is paid off?

Posted on March 11, 2019 by AgentInsure

Many auto owners fall into the trap of believing that they no longer need auto insurance once their vehicle has been paid off. While it is true that you will no longer need to meet any requirements put in place by your car loan holder, you will still be required to carry auto insurance after your vehicle has been paid off. The team at Don Allred insurance is here to provide the guidance you may need to determine which auto insurance policy is right for you now that you own your vehicle outright. If you are in the Burlington, NC area, it is important to know the facts about auto insurance requirements.

Yes, you will still need to have auto insurance even after your vehicle has been paid off!

Collision insurance is a must for anyone on the road, and even if your car is paid for, you will still want coverage in the event that it is damaged or stolen. Many car loan providers require certain coverage levels when they are financing your vehicle, so while you will no longer need to adhere to those standards, you will still need an auto insurance policy. Car insurance provides coverage in the event that you damage someone else’s car or property and can also protect you if you are in an accident that causes physical harm to yourself, your passengers, or persons in another vehicle.

While your insurance needs may change now that your vehicle is paid off, you will still be required to carry auto insurance. The team at Don Allred Insurance is here to guide your policy selection needs. If you are in the greater Burlington, NC area, call or stop by our office today to learn more.

Why Do I Need Uninsured Motorist Coverage?

Posted on February 18, 2019 by AgentInsure

Getting into an accident anywhere is a scary ordeal, but fortunately if you’re not at fault, you don’t have to pay, right? Wrong. While in many other states this may be true, North Carolina actually requires all drivers to have uninsured motorist coverage. Though controversial, this legal requirement ensures that drivers still have coverage that will pay to cover their damages if the other driver who is at fault does not have insurance. If you live in the Burlington, NC area, the Don Allred Insurance agency has the answers. Keep reading to learn more.

Why Should I Have Uninsured Motorist Coverage?

Like it or not, it’s the law. However, as we already know from the mere existence of uninsured motorist coverage alone, not everyone necessarily follows the law. In fact, between 9 and 10 percent of North Carolina drivers do not have insurance, and this means that you can be out of luck if one of them causes an accident on the road that involves you. Fortunately, having uninsured motorist coverage within your regular auto policy will help keep you protected.

State Insurance Requirements

The good news is that only minimal uninsured motorist coverage is required. The minimum auto insurance requirements overall are $30,000 in Bodily Injury (for each person), $60,000 in total Bodily Injury for all persons and $25,000 for Property Damage. While the state does not dictate specifically just how much is required in uninsured motorist coverage, it is wise to consider potential scenarios to determine how much such an accident could end up costing you. Serving the Burlington, NC area and beyond, the Don Allred Insurance agency is here to evaluate your specifc needs and help you get the coverage you need. Give us a call or drop by our offices today to learn more.

Guide to Buying Health Insurance

Posted on February 11, 2019 by AgentInsure

Buying health insurance is an important purchase in Burlington, NC, so there are some vital things to note when you are searching for a policy.

Today you can’t be denied coverage for an individual health plan and, regardless of your health history you can’t be charged more for having medical conditions. There are certain benefits that have to be covered by individual health plans. Some of these benefits include emergency room visits, pregnancy and maternity care, prescription drugs, mental heath treatment, and outpatient care.

Although every health plan must cover certain benefits, they can still vary in how they are structured and how much you will pay. They are divided into five categories to make it easy to compare, and the categories are based on the percentage of cost you pay out of pocket, which includes the deductible, coinsurance, and copayments. Generally the less you pay out of pocket, then the more you are going to pay for premiums. For example, a platinum plan will charge more for premiums but you won’t pay as much out of pocket. In order to decide which is best for you, consider the healthcare services you used over the past year and what you expect for the next year.

When shopping for plans with your agent at Don Allred Insurance, see how the plan is structured. Decide if you want to pay more upfront or when you need services. Then see who is in the network, especially if you already have a preferred doctor. Next check to see what is covered. If you take prescription drugs, are they covered?

Note that you can only buy a health insurance plan certain times of the year during the open enrollment period. However, you can usually get insurance if you have a qualifying life event, such as having a baby or getting married.

Contact Don Allred Insurance, serving Burlington, NC, to get a quote on health insurance.

Can You Borrow Against Life Insurance?

Posted on January 16, 2019 by AgentInsure

Nobody really wants to discuss life insurance, but it can be extremely beneficial for a number of reasons. If you are planning to protect your family or planning for a secure retirement, whole life insurance can offer you the ability to borrow from the value of the policy.

Borrowing From Your Policy

Term life insurance doesn’t allow you to borrow against your policy, but whole life insurance does. Policies vary from provider to provider, but in most cases, you can begin to borrow against the value of the policy after you pay your premiums for a certain amount of time, usually a few years. Before you choose the policy, you should consult a licensed life insurance agent to find out whether whole life is right for your needs. If you choose the whole life policy, find out how long you must pay your premiums before you can borrow against the value. This is a great option for unexpected emergencies that can arise through life.

Working WIth Knowledgeable Life Agents

If you are wanting to purchase a life insurance policy, you may be able to also borrow against it in the future if the need arises. Make sure the policy is what is right for your personal need and work with an agent who can give you the details about how the policy will allow you to borrow money and then pay it back over the course of time once you have paid into the policy for a certain number of years. If you live in the Burlington NC area, consider speaking with a representative from Don Allred Insurance before making a decision.

Selecting the right life insurance can be a challenge if you don’t have a great agent working with you. If you want to find the right coverage option and have a potential safety net in the process, consult with Don Allred Insurance proudly serving the resident around the Burlington, NC area. Call or stop by today for details.

Who Requires Home Insurance?

Posted on January 14, 2019 by AgentInsure

Owning a home is often considered a great long-term option. However, when you do on your own property, you will need to make sure that it is properly protected. While most owners of homes know that they need to protect their homes via home insurance, not all people realize that it is often a requirement under certain agreements. There are several situations in which carrying home insurance could actually be a contractual requirement for you.

Have a Mortgage

The first situation in which you will likely have to carry home insurance is if you have a mortgage. Due to the high costs in some areas, the majority of home buyers take out a home mortgage to finance their home. Your mortgage lender will undoubtedly require that you carry insurance during this time. This way, their collateral is properly protected in the event your home is damaged due to a fire, storm, or other loss.

Condo Associations

If you live in a community that is governed by a condo association, you could be required to comply with associational insurance requirements. A condo association could have requirements that govern how much property damage and liability coverage that you have. This way, if something happens at your home that causes damage to another home in the community, you will have insurance in place to provide you with financial protection. It also will ensure that your home can be rebuilt to look the way that it did before a casualty.

If you are an owner of a home in the Burlington, NC area, you should reach out to Don Allred Insurance to learn more about your home insurance options and requirements. The Don Allred Insurance team will provide a full assessment of your needs and asset to make sure that you are properly covered.

Veterans Should Consider Private Health Insurance Coverage too

Posted on December 31, 2018 by AgentInsure

Did you serve your country honorably in the Army, Navy, Air Force, Marines or other military organization? If so, then you deserve “thanks” for what you did.

Yet, like many returning veterans in North Carolina, you might be unaware of what benefits and rights you have. It is common for people to assume that veterans are "taken care of" in every capacity, such as health care. Presumably, all one has to do is walk into a VA Hospital, right?

This kind of thinking can leave you unable to afford medical care when needed. A wiser choice is to speak with an independent agent at Don Allred Insurance, which serves the greater Burlington, NC area. We think you might find it is wise to purchase a private health insurance plan.

Reality

You should consider taking out a personal health insurance plan, even if you have access to a VA Hospital. Remember, getting in to see a government-supported physician can be difficult. The schedules are often backed-up, quite often for months.

Furthermore, free VA care is only possible for those who fit certain criteria. Income, a service-related injury, and other factors are considered.

Last, but certainly not least, you have to reapply on a regular basis. At any time you can be removed from the system for failure to complete mandatory paperwork. Then, the recertification process starts all over again.

Private Health Insurance as a Solution

Rather than rely on the government, many former service personnel in North Carolina purchase comprehensive private health care insurance. These policies can be better tailored to suit your personal needs.

Get Started Today

For more information, contact a professional insurance agent at Don Allred Insurance, serving the greater Burlington, NC area. We can provide full details on specific health insurance policies now available.

Five Reasons to Purchase Life Insurance

Posted on December 27, 2018 by AgentInsure

Ever find yourself asking, "Do I Need Life Insurance?" Take a look at five reasons below and then contact Don Allred Insurance in Burlington, NC to set up your policy today.

1. Give Your Family Peace of Mind

Life Insurance is a hard topic because it’s hard to talk about death. But talking about it now means that your family will have less to worry about then. Life Insurance will financially secure your family, especially if you are the sole breadwinner.

2. It Pays for your Funeral

This is something a lot of people forget to think about. Even if you don’t need to leave behind a large sum to take care of people, you can help cover the expenses for your funeral. And since funerals tend to be expensive, your friends and family will thank you.

3. You Can Make Anyone Your Beneficiary

If you’re reading this saying "I’m single with no children, why do I need one?" What about making your parents, aunt or closest friend your beneficiary? Is there someone who would be at any financial loss if you were to die? They are a reason to have the policy.

4. It Can Work As a Loan

Talk to your Broker before doing this as there are rules and you’ll need to pay taxes on the amount, but if you find that you’re strapped for cash and you have a policy, you can borrow against it and lower the payout after your death.

5. The Younger You Are, the Less Your Premium Will Be

If you’re thinking that paying for life insurance can wait until you’re older, remember that rates are based on your age. The earlier you start, the less you’ll pay overall.

Interested? Stop by Don Allred Insurance in Burlington, NC for a quote or use our online tool.

Does Home Insurance Cover Wind Damage?

Posted on November 19, 2018 by AgentInsure

Strong wind gusts can be damaging to your home. Wind can blow shingles and tiles off of a roof, pull siding from your home or blow fences and trees over. Following storms that bring along heavy wind gusts, we at Don Allred Insurance, serving the greater Burlington, NC area are often asked if home insurance covers wind damage. Read on to find out the answer to this question.

Home insurance may cover wind damage. Unfortunately, the answer varies based on your exact policy and why the wind is gusting.

When you are purchasing a home insurance policy, always take the time to read through the exclusion list. Some policies do exclude wind gusts and some policies exclude hurricane coverage. If the wind damage was caused by a hurricane and your policy excludes hurricanes, the damage would not be covered.

Taking the time to sit down with an insurance agent and to carefully go over any exclusions before buying a policy is the best way to understand the policy you are purchasing before you purchase it. This helps to ensure you understand what is and is not covered by a policy and that there are no surprises later on down the road.

It is important to have the right home insurance policy in place to cover your home from a variety of weather elements, including wind and hurricane damage. Here at Don Allred Insurance, serving the greater Burlington, NC area, we are committed to helping you find the right policy for your needs. Contact us today and let us help you find the right home insurance policy for your needs.

Will My Auto Insurance Change Now That I have Teens?

Posted on November 12, 2018 by AgentInsure

The teen years are an exciting and stressful time in a parent’s life. In addition to all of the new emotional issues you are getting to face with your teen, there are also several practical issues you will need to address. One of these issues is car insurance. Your car insurance will change now that you have a teen driver in your home. Find out which changes you can expect.

Expect a Rate Increase

Adding a teen driver will increase your rates to some degree. The reason for this is because a teen driver is just a bigger risk, period. There is no way to get around this. You are going to be required to invest more in insurance while your teen is living at home and driving. Rather than get angry or frustrated about this, try to remember that this is a learning experience for your child just like everything else. This is also temporary.

Set Harsh Consequences for Driving Violations

Your teen should understand that their driving behavior will affect your insurance rates. Speeding tickets, accident and other issues will have a direct result on your rate. Set harsh consequences in place when your teen has a violation. This will help your teen take this seriously.

Prepare for Good Driving

Make sure that your teen is well prepared for driving. A thorough driver’s education course is the best way to ensure that your teen knows the best practices when it comes to driving. If your teen’s school does not offer driver’s education at school, then you will want to invest the money in the course. It will be well worth it in the long run.

Look for Discounts

Some insurance companies do offer discounts for good grades. Learn about these programs so that you can take advantage of those.

If you would like to learn more about insuring teen drivers, contact Don Allred Insurance serving Burlington, NC.

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