Most people think that life insurance is only for those who have partners, children or some other kind of dependents, but it’s certainly not a bad idea for a bachelor–no matter which stage of life he’s in–to have a life insurance policy ranging from $20,000 to $100,000. Here are two main reasons why North Carolina bachelors should take out a life insurance policy:
End of Life Expenses- You want your life insurance policy to be large enough to cover the costs of your funeral and burial so that your family and friends don’t have to step in and pay for the expenses, which can usually run up to $20,000. Make sure that your will specifies what your exact funeral and burials wishes are, or if you have already prepaid for some of the expenses, so that your family needn’t make these emotionally-charged decisions.
Pay Off Debts- While most debts are automatically forgiven upon death, for many people, it’s important that the debt gets paid anyway. Having a life insurance policy that would allow the executor of your will to pay all debts in-full is a gesture of good-will. No matter what your feeling is on this suggestion, it is a good idea to have the money to pay off personal loans from family and friends. Unlike large mortgage lenders and credit card companies, your loved ones are probably counting on getting that money back from you, and by planning for the money to be given to them, you honor your word.
For personalized assistance in determining how much life insurance you should have, contact your Burlington, North Carolina independent agent today. We’ll work with you so that you have an adequate amount which ensures that your loved ones aren’t financially burdened by your passing. Disclaimmer: The content of these blogs do not represent any type of specific coverage’s offered by the agency.
If you are trying to find out if a deceased relative in Burlington, North Carolina had a home insurance policy, call your independent agent and see if the company can give you any tips on finding your information.
It may be difficult trying to find out if a deceased person had a homeowner’s policy and what insurance company was holding the policy. Try to find out where the deceased kept all their personal paperwork. You will have to go through all paperwork, old and new plus all bills and mail received. Homeowner’s coverage will send out monthly statements, so watch the mail closely.
If the deceased person has a mortgage on their home, call the mortgage company, and they can tell you who the home insurance company is because the name of the company will be listed on the mortgage note.
If the deceased did not have a mortgage on the home, you can still contact the mortgage company. Ask the mortgage company for the name of the last known homeowner’s policy company. They will give you the name of the home insurance company that is listed on the paid off mortgage. This is a good place to start, as most people do not change insurance companies.
If you know that the person had automobile policy coverage, call the independent agent, if the company is known, and perhaps the insurance agent also insured the home.
Insurance companies in Burlington, North Carolina use a database on all clients. See if you or your independent agent can access the database and if there is any record of inquires from homeowner’s insurance policy regarding the deceased person.
Review the person’s mail often as insurance companies will send out monthly statements, especially for a homeowner’s insurance policy.
For those in Burlington, North Carolina, having the right type of insurance is critical no matter if you own a home or if you are renting it. In many situations, individuals are not sure if they need to carry insurance if they are renting. However, before you decide against it, consider the following.
What the Owner Is Responsible For
In nearly all situations, a rental property needs to have insurance. The owner of the property needs to protect his or her investment. That includes the building and the land surrounding it. In most cases, the owner of the property will need to carry proper insurance to cover any losses associated with these items, such as fires or vandalism. Additionally, owners need to have liability protection to avoid any lawsuits related to falls or injuries on the property.
What Is the Renter Responsible For?
On the other hand, the renter also needs to have adequate insurance protection. In this case, the insurance needs to provide for the renter’s personal belongings. The rental owner does not have any responsibility towards your belongings. In fact, most insurance plans like this will exclude your belongings from losses. As a renter, you should carry renter’s insurance no matter if you are living in a house or an apartment. Additionally, having liability coverage is important for situations such as someone being hurt within your home.
Getting the Burlington, North Carolina insurance you need does not have to be difficult. Talk to our independent agent about your needs. Get competitive quotes for renter’s insurance or homeowners insurance, depending on who you are in this process. Protecting your real estate is critical to ensure there is no loss from fire, weather, vandalism, theft, or even from accidents.
One of the rights of passage for many teenagers is getting their learner’s permit. In Burlington, North Carolina, the age for obtaining a learner’s permit is 15. While the teenager is often excited to get behind the wheel and start driving, the child’s parents are often left with a number of more pressing concerns. One of these concerns is what to do about auto insurance.
Car insurance is a major concern for many families because it protects you financially in case of an accident. Teenage or other inexperienced drivers are more likely to get into an accident than drivers who have been on the road for a longer time. Because of this, it is only natural that auto insurance is one of the first things parents of a new driver think about before letting him or her behind the wheel.
In many states, North Carolina included, drivers with just a learner’s permit do not need their own car insurance to stay protected. The parent’s insurance will cover teenage driver, as long as the insured driver is in the car and all proper rules regarding driving with a learner’s permit are followed. That is why it is vitally important that you understand these laws, so you do not find yourself in hot water!
However, it can be best to talk to an independent agent about your particular case. There could be special circumstances that make a difference in how you should insure yourself and your teenage driver. Working with an independent agent, like our company, only makes sense for most customers. Not only can you have your questions about coverage answered, but you will get the best possible auto insurance coverage for the best possible rate. Give us a call and let us help answer your questions and also run a real-time insurance comparison to find the best rate for you.