How Do I Determine How Much Life Insurance I Need?

You may know that life insurance is important for your family’s financial security, but how much life insurance you need can be more complex. At Brevard Insurance Agency Inc in Brevard, NC, we can help you determine how much life insurance is right for you. 

Basic Formula for Determining Life Insurance Face Value 

Face value is the amount your policy will pay in the event of your death. If you want to keep how much life insurance you should have as simple as possible, multiply your annual income by 10. This is the least amount of life insurance you should carry.

Some experts recommend multiplying your annual salary by 15 and using that as your minimum face value amount. 

However, you may want to use this as a base amount, and adjust it based on a few important factors. 


Debt doesn’t go away, even in death. If you leave behind debt, your family members may be financially responsible. The last thing you want to do is burden grieving loved ones. 

To avoid this, it’s a good idea to consider how much debt you have when you are deciding on policy coverage.

The recommended method is to add all your current debts. Then add this to the income figure from the last step. 

Income Replacement 

You’ll also need to consider income replacement. If you have dependents, income replacement is important. If you have a spouse, aging parents, or a child that are relying on your income, life insurance is essential. 

When determining how much coverage you need, think about how many years of income you want to replace. If you have a teenage child, 10 years may be sufficient. However, if you have a spouse and a one-year-old, 20 years is a safer option. 

Contact Us Today

If you need life insurance in Brevard, NC, contact us at Brevard Insurance Agency Inc. Our agents will work with you to provide the right policy for your needs. 

Check for this coverage in your NC auto policy

If you need auto insurance, call the team at Brevard Insurance Agency Inc. We are the insurance agency that the folks in Brevard, NC, and the surrounding area rely on. When it comes to auto insurance, we are here for you.

Important coverage to check for in your NC auto policy

There are a lot of features that are now available from today’s auto insurance policies. While the most important are collision, liability, and medical expense coverage, there are many different features worth checking out.

Today’s policies also offer features like:

  • Multi-line discounts – if you have more than one policy type with the same insurance carrier, there are often substantial discounts available.
  • Declining premiums – safe drivers can enjoy lower premiums that decrease over time. This feature is typically active when there are long periods without any claims filed against the policy.
  • Rental car coverage – when your car is damaged or totaled due to a covered event, you will likely need a rental car. This expense can be covered if you have this feature.
  • Roadside assistance – included in your policy, roadside assistance can help with accidents, breakdowns, and other auto mishaps.

When you are selecting your auto policy, check to see if these features are available. They can help ease the responsibility that comes with car ownership. Take a look at what’s available when it’s time to renew your auto insurance policy.

We look forward to working with you!

When Brevard Insurance Agency Inc. is here to serve the greater Brevard, NC area. If you have any questions or needs in the insurance area, give us a call. We look forward to working with you, so give us a call or stop by today.

What type of commercial insurance does a home business need?

You might think that you can get away without carrying insurance for your business if you run it from your home. In very few cases, you can, but most companies do need a commercial insurance policy.

Brevard Insurance Agency Inc. serves Brevard, NC with a full range of commercial insurance options. Read on to determine which type of commercial policy your home-based business needs.

Your Only Office Is in Your Home

When you establish a business and your only office is in your home, all of your business equipment gets stored at your house. Your homeowners’ policy does not cover your business equipment because it does not qualify as personal property. It qualifies as business property. You ensure it separately.

Your Hold In-person Meetings at Your Home

If you have meet-and-greets, meetings, or other gatherings at your home for your business, then you need a business liability policy. This includes Tupperware parties, Pampered Chef gatherings, etc. Your homeowners’ policy only covers personal liability, so your business meetings will require a business liability policy.

You Built a Separate Workshop or Office

Your homeowners’ policy does cover your entire house, even your home office, so if a tornado wiped out your home today, your home policy pays to rebuild the entire structure. If you build a separate structure, though, separate from your home, you need separate coverage for it. Using it for business purposes means you need to cover it with a real property insurance policy that covers the structure and its contents.

You Store Inventory at Your Home

You need a business property policy that specifically covers inventory. You can bundle this with your business equipment coverage.

You Store Your Client’s Items at Your Home

You’ll need the same type of insurance your dry cleaner uses. Typically, you’ll need inland marine insurance since you store another individual’s or organization’s property. This policy type also covers the transport from their home to yours and vice versa.

Call Us Today

Contact Brevard Insurance Agency Inc. serving Brevard NC, for more information on commercial insurance for your home-based business. Tell us about your business, and we will help you find the appropriate insurance to cover it against loss.

4 Things You Didn’t Know About Home Insurance

Most people don’t know a lot about home insurance. It sounds complicated, and it can be hard to find the right company. If you need some help understanding your coverage or choosing a policy, here are four things you didn’t know about home insurance that might help!

1. You Can Get Coverage for More Than Just Your House 

Most policies offer protection for other structures on your property and any personal items inside those structures. Homeowners have been known to insure their cars from damage caused by falling trees in storms. Remember: if it’s on your property and could cause damage or injury if destroyed, it should probably be insured with a homeowner’s policy!

2. Homeowners Insurance Is Not one-size-fits All 

No two homes are the same. And because every house is different, a homeowners insurance policy will be different too. The best way to get a good idea of what you need for coverage is to create an inventory of your belongings and their individual values. That way, you can take the time to shop around and find a policy that has everything you want at a price you can afford.

3. Homeowners Insurance Includes Loss of Use Coverage

Most policies include additional living expenses coverage, which kicks in if you have to temporarily move out of your home due to damage that makes it uninhabitable. This is an important feature because you could be forced to live elsewhere for days or even weeks while your house is being repaired.

4. Homeowners Insurance Does Not Cover Flooding

Flooding is often excluded from standard homeowners insurance policies. Instead, most people purchase a separate policy called flood insurance, which the federal government regulates. If you live in a region prone to flooding, it’s one of the best things you can do to protect your home and assets.

Home insurance is one of the most important coverages you can have. If you need any help or advice about what kind of policy to get, Brevard Insurance Agency Inc in Brevard, NC, is here for you. Give us a call today!

How Classic Car Insurance Works

Classic car insurance will provide you with expert service and coverage options that are designed specifically to meet the needs of the owners of classic cars. Some of these options may not be available with a traditional car insurance policy in Brevard, NC. At Brevard Insurance Agency Inc, we strive to provide the coverage you need regardless of the vehicle that you drive.

The most important aspect of classic car insurance is the agreed value coverage. This means that you and your insurance provider agree on the value of your classic car based on an appraisal. Several agencies that offer classic car insurance will also provide specialized coverage for things like repairs from exotic car experts and putting your car on display at an auto show.

Benefits of Classic Car Insurance

Typically, the providers of classic car insurance are familiar with providing coverage in such a specialized area and are more knowledgeable when it comes to the unique needs of someone who a classic car. Additional coverage in this area includes:

  • Auto show medical reimbursement
  • Cash settlement option
  • Increased replacement cost
  • No attendance required
  • Roadside assistance
  • Spare parts coverage

Classic car insurance policies will also typically include the most common auto insurance coverage as well, such as personal injury protection, liability, comprehensive, collision, and uninsured motorist coverage.

Classic Car Insurance Eligibility

Classic car insurance is not designed for recent model vehicles that you use daily. To be eligible for classic car insurance coverage, the car has to meet certain criteria, which may include:

  • A model at least 25 years old
  • A modern muscle car
  • An exotic car
  • A modified vehicle
  • Good condition
  • Parked in a fully enclosed, secure structure
  • Not used for commuting daily
  • Not used for racing
  • Driven no more than a specific number of miles per year

If you need classic car coverage and you are located in the Brevard, NC area, contact Brevard Insurance Agency Inc to learn about the coverage options that we have available for your classic car.

Do You Have the Right Renters Insurance Coverage in Brevard, NC?

You just moved into a new apartment in Brevard, NC and you’re wondering whether you can get insurance to cover your property even though you don’t own the place. The good news is you can. At Brevard Insurance Agency Inc., we often assist tenants looking for the right renters insurance for them.

What Is Renter’s Insurance?

Renters insurance covers your personal belongings if you lease an apartment or house. Typical policies cover your belongings, yourself and your living arrangements in the event of a covered loss. Even if you don’t think you own anything valuable, you might be surprised how fast things add up.

If your apartment caught fire tomorrow, you might have to replace clothing, furniture, kitchenware, towels, sheets and numerous other items. Even if you don’t have an extensive wardrobe and bought everything secondhand, the replacement cost for your belongings can total thousands of dollars.

How to Calculate Your Coverage Needs?

Take the following into consideration when you were calculating the amount of renters insurance you need:

  • Make a list of items you would have to replace and the retail price to replace them. A simple Google search can help you obtain an estimate for most items.
  • Once you have a total, add 25 to 50% because there are probably things you’ve forgotten about, and prices go up every year.
  • Take pictures of your property so that you have them in the event of an emergency and store them someplace other than your apartment.
  • If your apartment becomes uninhabitable, you’ll have to find other accommodations quickly. This could mean staying at an expensive hotel or Airbnb until your apartment is fixed or you find a new place to live. Factor this cost into your insurance coverage needs.

Chances are the cost of renters insurance is cheaper than replacing everything you own and paying for lodgings while you sort out your living situation. Contact Brevard Insurance Agency Inc. to set up a meeting for a renters insurance quote to cover your costs.

Do You Need Renter’s Insurance When Renting From Family?

At Brevard Insurance Agency Inc, we can help people in Brevard, NC, and the surrounding area gets renters insurance. Even if you live with your family and rent a room, you might still want this type of insurance. 

Renting From Family is Still Renting 

When you rent a room from a family member, you put yourself in a unique situation. While you may be related to each other (even in a parent-child relationship), you do not own the home. Unless the homeowner claims your items as belonging to them, what you own is not covered. 

As a result, if a severe accident impacts you and you don’t have renters insurance, you’re going to be in a challenging situation. We understand that it might not seem necessary or wise for you to get this kind of protection. However, it is essential to do things right in this situation.

What Renters Insurance Covers

Renters insurance will cover anything that belongs to you in a home. It does not cover the house’s structure (the homeowner’s insurance policy covers that) but protects anything you own while you rent from others. This can include clothing, televisions, books, and much more. 

Thankfully, this type of policy is surprisingly inexpensive and can be adapted to suit your needs. Many people often find that this policy is an excellent choice until they move out of their family’s house, at which point they’ll need another type of policy to ensure that they are protected from damage.

Get Help Today

Do you need renters insurance that meets your needs? Are you ready to stay protected and safe in your Brevard, NC rented room? Then please don’t hesitate to call us at Brevard Insurance Agency Inc to learn more about how we can help.

What Your RV Insurance Protects Against

At Brevard Insurance Agency Inc, we help those in the Brevard, NC area find RV insurance that makes sense for their needs. Let’s examine this insurance to make it easier to understand what options are available for your needs. 

Basic Insurance Types 

Most types of RV insurance protect similar things like an auto insurance policy. However, there are also protection elements similar to a home if you own a livable RV. Just a few options include:

  • Bodily injury liability that protects you if you cause an injury to someone with your RV 
  • Property damage protection that pays for any physical damage you cause with your vehicle 
  • Collision repair help that will pay to repair your vehicle after an accident, regardless of fault 
  • Comprehensive policies that pay for things like vandalism, fire, storms, and natural disasters 
  • Uninsured/underinsured motorist coverage to pay for problems a poorly insured driver causes 
  • Medical payments for you and your passengers, no matter who is at fault in the accident

Extra RV Insurance Options 

You can also expand your insurance options to include a myriad of unique bonus options. Just a few that you may want to consider for this situation include:

  • Roadside assistance to get 24/7 emergency help for many dangerous situations 
  • Towing and labor coverage to pay for getting your vehicle out of a tough spot 
  • Vacation liability that protects you when using your RV as a temporary resident 
  • Full-timer coverage designed for people who may live in their RV permanently

Take Control of Your RV Needs 

As you can see, these policies cover a broad range of situations and can provide you with a lot of unique help. Therefore, it is important to contact us at Brevard Insurance Agency Inc right away to learn more. We serve the Brevard, NC, area and will provide detailed help to manage your needs.

Why Do I Need Motorcycle Insurance in North Carolina?

Motorcycle owners in North Carolina should be proactive in ensuring their vehicles because it’s against the law not to. If you own a motorcycle and drive it in and around Brevard, NC, you are required to have a motorcycle insurance policy. Failing to do so will result in a fine or confiscation of the bike. 

What Does Motorcycle Insurance Provide Me?

Just as you would insure a car or any recreational vehicle, taking the steps to insure your motorcycle will protect you, the bike itself, and other drivers on the road. Brevard Insurance Agency Inc advises all of their clients to review their motorcycle policy annually to confirm appropriate coverage.

Insurance policies offer protection and coverage in accidents (whether you are at fault or not). They protect you in the event that you need medical care, or if you injure someone else and they need treatment or care. If you are out of work from your accident and are unable to work, your policy may cover that situation. Some policies can also provide coverage if a bike is damaged in an accident, due to severe weather, or if it’s stolen.

Insurance may be considered an unnecessary "what if" in any situation, but if the "what if" happens, you will be relieved that you took the time to be proactive and protect yourself and other drivers. 

Whether you use your bike on the weekends for a quick getaway, for long drives outside of Brevard, NC, or for daily use — maintaining a motorcycle insurance policy is of the utmost importance. If you need assistance finding the right coverage for you, contact Brevard Insurance Agency Inc. Our team of experienced agents can help you build a quality policy that you can rely on. 

Why Do North Carolina Residents Need Boat Insurance?

Similar to homeowner’s insurance, boat insurance for residents around Brevard, NC is highly recommended. Boat owners or those who are thinking of purchasing a boat should contact Brevard Insurance Agency Inc to assist you with finding the best coverage and policy that suits your needs.

Why Do I Need Boat Insurance?

Boating is a popular activity here in North Carolina, and because of this, accidents do happen. To give you peace of mind when using your boat, entertaining family and friends on the water, and participating in the water sports we all enjoy, boat insurance is essential. 

Owning a boat is a large investment, and should be protected as such. Boat insurance protects your investment in the event of damage and also minimizes the liability you could face in situations where damage or injury are relevant. While you may be a safe and educated boat owner, you can’t control the other knowledge and skills of others on the water, which is worth considering when you are thinking about getting boat insurance.

Insurance helps to offset the risks of operating a boat in the water. In the event of an accident, repair, or any other damage, you will want to ensure you are properly covered so you aren’t responsible for coming up with a large sum of money to make the necessary repairs.

If you’re going to make a financial investment in a boat, do your due diligence and shop around for the best coverage in boat insurance for your own peace of mind and investment protection of your vessel. The experts at Brevard Insurance Agency Inc specialize in boat insurance and can help you find the best insurance policy in and around Brevard, NC.