When you need home insurance in Burlington, North Carolina, you have several different things to consider before you decide what type of policy will suit you the best. You can choose to purchase a named hazards policy or an all perils policy. You can choose to buy replacement value coverage as opposed to actual cash value coverage.
One of the more important aspects of a home insurance policy that you should think about carefully before buying a policy is the size of the deductible that you wish to carry. A deductible does not apply to the liability portion of your home insurance policy. It does apply for the dwelling as well as your personal belongings within the dwelling.
A deductible is the amount of money you must pay before your insurance will pay anything on a claim. As you probably already know, the higher deductible that you set for your home insurance, the lower your premium will be. You should also know that you may have two or more different deductibles that cover separate hazards. For example, coastal North Carolina is often in the path of big storms, heavy rains and hurricanes. Your insurance carrier may have a deductible for windstorm or hurricane damage and another to cover other perils like fire or smoke damage.
While you usually have the option to set any sized deductible of your choosing, sometimes, if your mortgage holder is so inclined, they may insist that you carry a fairly low deductible such as $500 instead of say $2,000. If it happens that you set a high deductible and then suffer a loss that is below that deductible, your insurer will not pay anything for the repairs.
You should always try to pick a deductible that is not higher than the amount you feel comfortable paying if you should suffer a loss. As your independent agent, we can help you determine the proper deductible for your situation. Sometimes, it is worth paying a little higher deductible up front so, if something happens, you won’t have to reach too deeply into your own pocket to fix your home.
As your independent agent here in Burlington, North Carolina, we always look out for you and all of our other clients. Our job is to get you the insurance you need at the most affordable rates. One way that we can help you save money is by insurance bundling.
What we mean by insurance bundling is that you buy two or more separate insurance policies from the same insurance company. For instance, you could have a home policy and an auto insurance policy with the same insurance company. By bundling two or more policies together, you usually will receive a discount on the premium of the combined policies.
Insurance companies offer this discount because it means that they can sell two policies or maybe three and increase their business. Not only that, but when an individual chooses to buy their home and auto insurance from one insurance provider, experience shows that they will be more loyal to that insurance company. Securing a customer for years, and keeping them happy, is good business for insurance companies or any other kind of business.
You benefit by getting lower rates and also building up a relationship over the years. One accident will not be viewed as seriously when you have been a loyal customer for 10 years as if you change carriers every year. You can also add other coverage such as life or long-term healthcare.
Insurance bundling, used in conjunction with all of the other discounts that may be available, can save you some serious money. If you insure multiple vehicles with the same carrier and are also a safe-driver, you will get an even better deal on your premium.
As your Burlington, North Carolina independent agent, we can compare rates with insurance bundling and without insurance bundling. Sometimes, it is still better to use two separate companies. It all depends on your circumstances. We don’t take shortcuts and check everything to make sure you are getting the most affordable policy or policies that also provide the proper coverage for your needs.
Life happens. Whether you live in Burlington, North Carolina or anywhere else outside the United States, accidents can happen and making sure you have adequate insurance coverage can give you peace of mind. Often people wonder if their additional living expense coverage will take care of rental expenses if they are injured while traveling away from home. Depending on the type of coverage you have, additional living expenses coverage probably will not cover rental expenses. Usually this type of protection helps people who have been displaced from their home because of a fire, flood or other hazard. The best way to make sure you understand your policy it to speak with an independent agent about the type of coverage you need.
Most additional living expense plans will take care of rental expense, eating out at restaurants, and other additional expenses directly related to damage to your home. Most companies offer a percentage of the policy with a maximum amount that can be paid out for these types of expenses. If you are injured while you are away from your Burlington home, you will need to consider other options to help with the expenses while you are recovering. When you speak with an independent agent about the type of insurance coverage you need, ask questions about this type of protection especially if you travel often.
One of the best ways to make sure you have the insurance coverage you need is to compare plans and identify what they will and will not pay. There are many options available and finding the right coverage for you and your family for an affordable price is important. Consider speaking with an independent agent about all of your options before purchasing any type of insurance plan.
If you have been with the same insurance company, then there is a good chance you have saved up a no claim bonus worth hundreds of dollars. A no claim bonus is a benefit that is given to policyholders that have not made any claims in a certain amount of time. If you are thinking of changing auto insurance companies, then you may wonder if your NCB is something that can be transferred to another company in Burlington, North Carolina.
Can a NCB Ever Be Transferred to Insurance Company?
· This is a reward based incentive given to people that do not make any claims on their insurance policy. NCB’s are usually provided by companies to reward their own policyholders.
· People who earn no claim bonuses are less of a risk to the insurance company. If you end up getting a new car and put it in the policy, then your NCB may transfer over to the new car.
· No claim bonuses are people specific meaning that it is yours and can not be transferred to another person. It belongs to the person that owns the auto policy.
· If you are looking to switch auto insurance companies, then you will find that the NCB is usually not transferred to the other company. You will have to build your reputation with the new company in order to take advantage of any NCB’s they may offer.
If you are looking to change auto insurance companies or have any questions about your current policy, then feel free to give a call and speak with one of our independent agents today. As your agent we can answer all of your questions. We can help get you the information you need to make the best decision regarding your insurance needs.