Gauging Your Flood Risk When Choosing a Flood Insurance Policy

Insurance companies like Brevard Insurance Agency Inc provide Brevard, NC residents and others with flood insurance based on FEMA’s flood risk charts and maps. However, you can also gauge your risk of flood by looking at various other factors and deciding if you need a policy right away.

Investigating the Right Hazards

When you’re concerned about flood risk, you need to examine various hazards near you. The best way to figure out this situation is to ask the following questions:

  • How close are you to a river or lake that could flood?
  • What is your annual rainfall during the wettest seasons?
  • Are there any histories of floods in your area?
  • Do you experience floods at any time?
  • How destructive were floods around you in the past?
  • Are you downhill or uphill water sources?
  • Does your town take reasonable control of its water management needs?

These hazards must be carefully identified to gauge your flood risk. If you think you’re relatively safe (i.e., your home is high on a hill, and you are nowhere near a river or lake), you may want to skip out on flood insurance. That said, it is probably still a good idea to get this type of coverage anyway. It can provide a myriad of benefits if the worst happens, and you do suddenly experience a surprise flood.

Ways Your Policy Would Help

Your flood insurance policy will:

  • Repair broken foundations
  • Fix your home’s interior
  • Upgrade your carpeting and flooring
  • Replace damaged appliances
  • Give you peace of mind

If you want a high-quality flood insurance policy for your Brevard, NC home, please contact us at Brevard Insurance Agency Inc. We serve this city and many others in the area and will do what we can to provide you with the secure and robust flood protection you both want and deserve.

Is your new home build protected?

Chad Banner, our Commercial Lines Manager, sits down at Ecusta Brewing to break down helpful and relevant insurance information on builders risk to help you protect what matters.

If you take anything from this episode of Between 2 Claims on builders risk it is this:

🏠Either the builder or the home owner can purchase builders risk insurance. So communication is key.
🏠 One of the main protections this policy offers is protection from theft of building materials.
🏠 It is very easy to roll your builders risk insurance into a homeowners policy when the build is complete.
🏠You can value the policy at several different levels.
🏠 We are here to help you protect what matters. After all: it’s not the house, it’s the home.

Let us know if you’re planning to build a new home – we’d love to be a part of helping you protect what matters!

How Does Life Insurance Work?

There are many benefits of life insurance for anyone who wants to protect their loved ones or beneficiaries. However, as much as most people know it is essential, they also admit they do not understand how it works. That is why Brevard Insurance Agency Inc of Brevard, NC takes explains how life insurance works.

What is Life Insurance

It is a contract between you (the insurance policyholder) and the insurance company where if you pass away, your loved ones receive a lump sum of cash based on the premiums you paid when you were alive. Below are the different types of life insurance and how they work.

Term Life Insurance

Just as the name suggests, this type of coverage is for a specific length of time, and you will find most people opting for it as they consider it affordable. If one dies during the years they were earning, the family members can use the payout to replace the income they were getting, especially if they were the sole provider in that family. Beneficiaries can put that money into various uses like funeral expenses, kids’ tuition fees, and other house expenses. This policy comes with flexibility, where you can choose the length of term you want.

Universal Life Insurance

This is a permanent type of life insurance accompanied by a flexible premium structure. One benefit of this type of policy is that you can adjust it when your financial circumstances change, as long as you sufficiently pay the required premiums.

Whole Life Insurance

Whole life insurance provides one with coverage to last them their entire life as long as they keep paying the premiums on time. It comes with a fixed cost based on your age when buying it and guarantees a growing cash value. After you die, your beneficiaries will receive a payout as long as you made sufficient payments.

Variable Universal Life Insurance

This type of policy helps protect your beneficiaries while giving you the flexibility to invest. You, therefore, get to choose where you are comfortable investing your cash.

To enjoy life insurance benefits, Brevard, NC residents can contact Brevard Insurance Agency Inc for assistance in picking the right life insurance policy to protect their beneficiaries.

Is your bike protected?

Have you ever wondered how to make sure your bike is as protected as possible?

Whether it’s a mountain bike, gravel bike, road bike or cross bike…we’ve got you covered. In our first episode of Between 2 Claims, Racheal talks about what you need to know when it comes to insuring your bike (or fleet of bikes). Tune in to this one.

After all: it’s not the bike you’re protecting, it’s the ride. Protect what matters.

When to Review your Auto Insurance Coverage

Auto insurance is usually paid by the year or half a year. When your policy renewal time arrives, you will get a package from your insurer. The front page is usually the declaration page. This page contains most of the information you need to know about your policy. It tells you who is named on the policy, the amount of liability coverage, and any other coverage that you may have. At Brevard Insurance Agency Inc in Brevard, NC, we have an experienced team who will work very hard to make sure your insurance fits your needs and your wallet. 

When your policy renews

The ideal time to review your auto policy is when you have the declaration page right in front of you. You may find you need to raise the liability limit, depending on your financial situation. If your vehicle has a meager value, you may need to consider whether collision and comprehensive coverage are necessary. The deductible can also be considered. 

When you change vehicles

When you purchase a new or used vehicle or sell a vehicle you currently have on your policy, it is a good opportunity to review your current coverage and make sure it is adequate for your needs. A newer vehicle requires complete coverage than one that is worth only a small amount. 

When a driver needs to be added or removed 

When you add or remove a driver, this is another time when it is wise to look over the amount of coverage you have. When you have a teen driver, adding additional liability insurance and complete coverage is a practical addition. 

Auto insurance is something that needs to change as your life changes. Reviewing it frequently is good for the security of your financial situation. 

Contact Brevard Insurance Agency Inc in Brevard, NC, when you require auto insurance

How commercial protects a small business

With almost 200,000 businesses, North Carolina is an attractive place to start a company. But no matter how attractive a place is, the risk for businesses is always lurking. Being prepared is the best way to make sure your business can survive anything life decides to throw at it. At Brevard Insurance Agency Inc. in Brevard, NC, we are an independent agency that caters to the needs of our customers.

Commercial property insurance

As a small business, you may rent the building you operate out of. You may even not have a brick and mortar building but operate from your truck or your home. It would be best if you still protect your tools, machinery, inventory, and your records. All of these are valuable to your business, and you need to make sure they will be replaced in the event of a covered peril. If you own the building, it will also cover that. 

Commercial liability insurance

All businesses need protection from legal actions taken against them. Someone may be injured while visiting your business or by a product you produce. They may not be satisfied with the services they received from you or by the timeframe of delivery. For any or all of these reasons, they decide to file an action against you. Liability insurance covers judgments and the cost for your legal defense up to the limit of your policy.

Workers compensation insurance

North Carolina requires every employer with three or more employees to cover them with workers’ compensation insurance. 

Business interruption insurance

When you are hit by a peril, even a covered peril, it can be weeks or even months until you are back in full operation. Your bills will not go away during that time, nor will your payroll obligations. This insurance will help you with the cash you need to keep things current until you can start doing business again. 

Contact Brevard Insurance Agency Inc. in Brevard, NC for all your commercial insurance needs.

Types of Home Insurance Policies.

Irrespective of where your dwelling is located in North Carolina, it’s imperative to protect your hard-earned asset from imminent calamities. A home insurance policy is designed to safeguard one of a family’s massive investments and their home from prevailing perils such as vandalism and fire. At Brevard Insurance Agency Inc. in Brevard, NC, we offer versatile home insurance policies to ensure that you guard your home against imminent disasters such as theft and other covered liabilities. Our knowledgeable agents work closely with our clients in crafting customized quotes that befit their needs and budgetary allocation.

The home insurance policy covers your home against fire, water damage, lawsuits, theft, and other covered losses stated in your policy document. While acquiring a home insurance policy, some factors on determining its premium rates include:

  • Location.
  • Year of construction.
  • Building construction.
  • Credit history.
  • Claims history.
  • The type of coverage chosen.
  • Desired deductibles.

It’s a prudent move to select a home insurance option matching your budget and need. Home insurance is not mandatory in North Carolina. However, if you have constructed your house using a mortgage, your lender may require you to show proof of home insurance. Home insurance combines both casualty and property coverages. This policy is designed to cover a broad spectrum of perils associated with owning a home. Visit us today at Brevard Insurance Agency Inc. and speak to our passionate and charismatic agents. They will assist you in getting a spectacular customized quote for your home insurance.

What is covered under the home insurance policy at Brevard Insurance Agency Inc in North Carolina?

  • Coverage for your dwelling structure: This form of the policy pays for renovating or rebuilding your residence if it is damaged by fire, vandalism, or other disasters.
  • Coverage for your belonging: It protects your items such as sports equipment, furniture, and appliances if they are robbed or damaged by perils covered in your policy.
  • Liability protection: It covers you from lawsuits resulting from bodily injury or property destruction that you and your family members cause to other people.
  • Additional living expenses: It caters to additional costs while living away from your home if it is uninhabitable after damage from a covered peril.
  • Other structures coverage: It protects other structures that are not attached to your houses, such as a detached garage and a gazebo.

Call or visit our offices at Brevard Insurance Agency Inc., located in Brevard, NC, to get a customized quote on a home insurance policy.

What You Need to Know About Classic Car Insurance

Owning classic cars can be a great hobby and a great investment. Protecting that investment is an important detail to consider. At Brevard Insurance Agency Inc, serving Brevard, NC, we understand that if customers are going to make the best insurance choices, they need the best insurance information. This is why we make it a point to educate our customers on important insurance topics. Today, let’s talk about classic car insurance. Why is it important, and how can you get the best coverage?

Is Auto Insurance Enough?

Classic car enthusiasts understand that a classic cars’ value is not determined in the same way as a regular car. Classic cars require a time and money investment which can sometimes be hard to put a number on. The work that is done on a classic car has a lot to do with its ultimate value. Because the value of classic cars is determined differently, regular auto insurance is usually not sufficient. To have your classic car’s value protected, it will be necessary to sit down with an insurance representative and determine the car’s value. 

Things to Consider

When you talk with an insurance representative concerning your classic car insurance, there are a few things you will want to consider and a few pieces of information which you will need to share. How old is the vehicle? How much of an investment have you made into the car? What would the car’s value be to other collectors? How will the car be stored? How often is the car driven? This information will be help determine how much coverage your classic car will need. 

If you would like to learn more about classic car insurance, please contact our office at Brevard Insurance Agency Inc, serving Brevard, NC. 

Do I Need Renters Insurance if my Landlord has their own Insurance?

Many renters have the common misconception that their belongings are covered under a policy if their landlord has insurance. However, that is not true because homeowner’s insurance only covers the homeowner’s belongings. Generally speaking, renters insurance is optional; however, your landlord may require that you carry a policy within the lease terms required to sign. Landlords require renters insurance because it limits the likelihood that a tenant will sue them for liability costs or damage to their personal property should an incident occur. 

Renters insurance may only be required in certain situations, but that doesn’t mean you shouldn’t have coverage. The general property, loss of use, and liability coverage that are generally found on all renters insurance policies are exceptional value for minimizing the financial loss associated with an unexpected event that damages your belongings or leaves you liable for someone else’s medical bills. While policies vary depending on the coverages chosen, generally, each renters insurance policy will cover the following:

  • Personal Property Damage: Pays up to your policy limits to replace your belongings that are destroyed by a covered event.
  • Personal Liability: Protects you from legal liability if an accident occurs to a third party at your home or apartment.
  • Loss of Use: If the place you are living is uninhabitable due to a covered event, your renter’s insurance policy will pay for your expenses.
  • Medical Protection: Pays for medical expenses incurred by someone injured at your residence.

When it comes to offering peace of mind, renters insurance is a no brainer. At Brevard Insurance Agency Inc. in Brevard, NC, our talented team of insurance experts will help crunch the numbers, answer your questions, and customize a renters insurance policy that exceeds your expectations. 

 

Do I have to invest in RV insurance if I own an RV?

North Carolina RV owners are legally required to carry both liability and uninsured motorist insurance on their motorhomes and trailers. Our team at the Brevard Insurance Agency Inc. in Brevard, NC understands that RV owners may not always be clear about what’s required. This is one of the many reasons why we want to educate RV owners regarding state requirements. However, there may be other circumstances that require you to invest in more RV coverage. 

RV Insurance

If you own an RV that has a motor, you will have to invest in insurance. In essence, you should look at a motor home as a vehicle, like any other car, truck, or SUV, that happens to have a home attached to it. Any motorized vehicle that you would operate on the streets, highways, and byways is generally subject to laws that govern vehicles. You will have to carry liability insurance at the very least. This will cover damage or injuries you are liable for that may be caused by your motorhome or RV. 

If You’re Financing Your RV.

Although North Carolina only requires you to carry liability and uninsured motorists insurance to operate or drive your RV, you may be required to carry more if you are financing your RV. Like a car or a home, your lender may require you to invest in full insurance to protect your RV if something happens before it’s paid for. Of course, situations will vary. However, many lenders require you to carry full insurance if your RV isn’t paid for. 

Operating Your RV in North Carolina.

North Carolina drivers will be required to carry insurance on any RV they operate. You will still have to invest in both liability and uninsured motorist insurance from hitched trailers and luxury coaches. This type of coverage protects you if you cause damage or injury to someone’s property while operating your RV. RV owners can rest assured that we’re here to serve you by providing you with the information you really need. Call us if you have questions about your insurance options when it comes to your RV.