I’m Young. How Would Life Insurance Benefit Me?

As a young person, you may feel that you don’t have much need for life insurance. Your reasoning may be even stronger if you are unmarried and don’t have any offspring. However, life insurance has many benefits for people of all ages. However, a fundamental understanding of what it is, how it works, and how it can benefit you in particular, is the best place to start.

What Is Life Insurance?

Life insurance is a contract between the policyholder and the life insurance company. You agree to pay premiums in exchange for a death benefit that is awarded to your chosen beneficiaries when you die. The insurance company awards your beneficiaries a lump sum of money. The monies can be used however the beneficiaries choose to use it. There are two kinds of life insurance that include whole life and term life insurance. Of course, whole life insurance is purchased to cover your entire life. This means that is isn’t set to expire until you die, as long as your premiums are paid. Term life insurance is designed to last for a pre-set number of years. This number is usually determined by your major financial obligations. Term life policies are designed to remain in place until your last major financial obligation is met. This type of insurance is usually sold in five-year increments and typically can go up to thirty years. However, life insurance has other less known benefits as well.

What Are Other Benefits of Life Insurance?

The younger you are when you buy life insurance, the better. This is generally true because life insurance is less expensive when it is purchased when you are under the age of thirty-five. As a result, one of the obvious benefits of investing in life insurance as a young person, aside from creating financial security, is the reduced rate that you’ll lock in which will make it more affordable. also, life insurance can be used to pay off your debts and to cover lost income. Life insurance has many practical uses even for young people. The Brevard Insurance Agency, Inc of Brevard, NC is committed to helping young people as well as people of all ages, understand life insurance, and get the coverage best suited for their particular needs. 

 

Do I need more than basic auto insurance in North Carolina

When driving a car in North Carolina, you need to carry at least basic auto insurance. The mandated amount required by the state is 30/60/25 in liability auto insurance. You need to carry $30,000 bodily injury insurance for each person in an accident with a maximum of $60,000 per accident and $25,000 in property damage. At Brevard Insurance Agency, Inc in Brevard, NC, we make it our business to get to know you so we can better help you decide if basic auto insurance is right for you. 

If you have a car loan or are leasing, you are required to carry additional insurance, but if neither of these is the case, is basic liability coverage enough for you? To answer this question, there are some questions you need to ask yourself. 

  • Do you have any assets?
  • Do you need your vehicle to get to work, or is it necessary to daily life?
  • Could you afford to pay to repair or replace your vehicle if it damaged or stolen? 

If you answered yes to questions one and two and no to question three, then basic auto insurance is not right for you. You likely need additional liability coverage as well as collision and comprehensive coverage. The liability coverage protects your assets and collision and comprehensive protect your vehicle. 

Collision covers repairs to your vehicle in the event you are deemed totally or partially to blame in an accident. It will pay to repair or replace the vehicle up to the listed value minus a deductible. Comprehensive coverage includes non-collision damage and theft. It also provides weather and glass repairs. 

When you rely on your vehicle, it is important to have the right auto insurance. At Brevard Insurance Agency, Inc in Brevard, NC, we are here to help you to find the perfect policy for your needs. Give us a call or stop by our office for a no-obligation quote. 

How To Calculate Commercial Insurance Needs

If you own a business, you will likely need some form of commercial insurance to protect yourself and your investments. There are many types of commercial insurance options to choose from. Still, if there is a physical structure with inventory and equipment, you’ll need general liability commercial coverage, but how do you figure out how much you need? 

Calculating Commercial Insurance Needs

If you are planning to purchase commercial insurance, you are going to have to have a few facts and figures first. If the building is located within a larger building or strip plaza, you must consider the value of the building as a whole. You also want to make sure your inventory and equipment is calculated into the figure. Once you get a general idea of how much you need to cover, find a policy that provides coverage that is rounded up to the nearest coverage amount. For example, most commercial insurance is written for 1 million for a small business. 

Working Together With an Agency

The best way to get the right insurance is to work closely with an experienced agent. They can help assess the situation and figure out the necessary coverage amount and then offer policy options to meet your needs. If you are currently searching for commercial insurance coverage in the Brevard, NC area, you should call Brevard Insurance Agency, Inc to find out more about coverage options and how to avoid gaps for your particular situation. 
Commercial insurance coverage is the best way to protect your business in or near Brevard, NC investments from loss. Work with an agent from Brevard Insurance Agency, Inc to get the peace of mind you need year-round. Call or stop by the office today to get more information. 

When Should I Update My Home Insurance in North Carolina?

Owning a home in Brevard, NC can be a gratifying experience for anyone. Not only do you get the chance to make changes to your property whenever you want (without asking for permission), but you also reap the rewards when your investment goes up. But as your home grows and changes, so too should your home insurance. Brevard Insurance Agency Inc. can tell you more about when to make an official update. 

The Value Changes 

When we say value, we mean the value of the entire property. This can include anything from buying a big-screen TV to repairing the fence to installing new fancy fixtures in the bathroom. If your home has surpassed the limits listed in your policy, you shouldn’t take a chance if something happens to them. 

The Weather Changes 

Some homeowners are willing to take the chance when it comes to certain natural weather events. However, many others simply aren’t aware that certain natural disasters aren’t covered under their policy. For example, flooding is typically not part of the standard policy in Brevard, NC. If you’re starting to see more rain during the springs and summers, it’s worth adding some extra coverage. 

You Want a Different Carrier 

Part of understanding your policy is knowing what it will do for you during real-life situations. If your carrier can’t explain this to you, it may be time to talk to someone with a little more practical experience. Brevard Insurance Agency Inc. is here to help our customers get a handle on when their policy is meeting their needs and when it needs to be adjusted. Give us a call if you need to ask a few questions or if you’re shopping around for a quote in the Brevard, NC area.