Avoiding Life Insurance Loopholes

Hope Hills, NC residents need high-quality life insurance to protect their families. However, there are many loopholes that are easy to fall into when getting this type of coverage. We’ve seen them all at Cross Creek Insurance and can help you avoid them.

Lying On Your Application

The truth will set you free when it comes to life insurance. If you lie on your policy and your provider finds out, they can deny your policy. Lying can be as simple as misrepresenting a disease you have or even denying a serious life-changing condition, such as cancer when buying a policy.

Drug And Alcohol Use

This loophole can be a very problematic one for many people. It states that if you are under the influence of drugs or alcohol when you die, the insurance company can deny your claim. This fact is true even if the drugs or alcohol had nothing to do with your death. It can be a very troubling one if you enjoy a drink now and again and die at home due to a heart attack not related to your alcohol intake.

The Suicide Loophole

Those who are suffering from a serious disease may try to use suicide as a way of helping their families. As a result, life insurance companies have a clause that allows them to deny payment for the first two years of the policy. After that, beneficiaries only receive the premiums the policyholder paid for their deaths.

Performing Dangerous Activities

Traveling to dangerous or even war-torn areas, performing extreme sports, or doing other dangerous activities can void your life insurance. That’s because you weren’t taking due care to prevent your death.

Keeping Your Coverage Active

If you want your Hope Hills, NC life insurance to pay off, please contact us at Cross Creek Insurance. Our experts will make sure you don’t fall into these loopholes and void your policy, leaving your beneficiaries in a tough situation.

Does Commercial Insurance Cover Business Equipment?

If you want to ensure your expensive equipment is covered if damage or disaster occurs, then you need to purchase equipment breakdown coverage in Hope Hills, NC. Traditional commercial insurance policies from Cross Creek Insurance do not cover this and if you don’t purchase this specialty type of insurance, you may have no recourse if a breakdown does occur, besides paying for repairs or replacing the item out of your own pocket. 

How Does Equipment Damage Occur? 

There are several ways that your equipment may be damaged, resulting in a loss of productivity and profits, which include:

  • Power surges
  • Short circuits
  • Employee error

What will Equipment Breakdown Insurance Cover?  

This type of insurance policy is also referred to as “boiler and machinery” policies in Hope Hull NC. When you purchase this type of policy, you will be protected against breakdowns that are the result of power surges, boiler malfunction, motor burnout and even operator error. 

This type of policy will also cover all types of equipment – both electrical and mechanical, including boilers, refrigeration systems, HVAC systems, communication equipment and more. The policy will also include coverage for any new technology you have invested in. 

Purchasing the Right Policy is Key

If you are ready to purchase this type of insurance, there are several things you should keep in mind. For example, not all policies are created equal. As a result, you need to find a reputable agent and have them help you find the right policy for your needs. 

If you are ready to purchase equipment coverage for your business, then contact the Cross Creek Insurance team serving Hope Hills, NC. You will be able to speak to professionals in the industry who can help you get the right coverage for your business and your needs. In the long run, this will pay off and ensure your business equipment is covered. 

 

What You Should Know About Life Insurance

Life insurance might not be a requirement, but it’s a smart decision to have at any age. At Cross Creek Insurance Inc., serving Hope Mills, NC and the surrounding area, we offer homeowner’s, auto, commercial and life insurance policies to keep you, your family and business protected in every way we can. When you’re inquiring about life insurance and receiving a quote, there are a few aspects regarding this type of insurance you should know in order to make an informed decision. 

1. More Than One Type

Not all life insurance policies are the same type of policy. They classify as either a term or cash-value policy. A term insurance policy doesn’t have any investment component. You decide on the amount of coverage you need as well as how long you desire the coverage to stay in effect. Financial planners typically recommend purchasing a term policy and investing the difference between the cost of a cash-value premium and a term-insurance policy into a cash-value premium.  

A cash-value plan is a bit more confusing. The policy pays out upon your death, but during your life, it increases in value. This particular investment isn’t taxable, and you’re able to borrow against it or use it as a means to pay off policy premiums later in life. You’re also able to pass it to your heirs.  

2. How Much You Need Varies

The amount of insurance you need varies based on if the money will be used to replace your income upon your passing, if it’s going to be used to take care of your children and send them to college or if your spouse will require the money to pay off the mortgage. Basically, you’ll want to take into consideration how much of an impact your death will have on your family financially. 

To get a quote for a life insurance policy from Cross Creek Insurance Inc., serving Hope Mills, NC and the surrounding region, call us today at 910-423-2900. 

 

Does Commercial Insurance Cover Damages to a Company Car?

If you own a commercial business that requires you to operate a vehicle in North Carolina, then you do well to invest in business auto insurance. Contrary to what many uninformed drivers believe, personal auto insurance does not cover you if you have an accident while running an errand related to business. You need commercial insurance that pays for damages incurred to your vehicle in these instances. 

What is Business Auto Insurance?

Business auto insurance is an add-on plan that can be attached to your overall commercial indemnity policy that pays for repairs if your company car or truck is damaged. This plan usually has higher limits to accommodate for large vehicles such as bread trucks and entire fleets. In some instances, business auto insurance works like personal car assurance by paying for medical costs and other expenses related to car accidents. The plan, however, makes life more comfortable as you won’t have to fight with your indemnity provider to pay for loss related to business-related incidents as you would if you had personal liability insurance only. 

Why Buy Business Auto Insurance?

Regardless of what people may think, personal auto insurance is not meant to serve as company assurance as well. You may find yourself out of pocket if you solely rely on your personal policy to pay for damages incurred both while working and taking rides for leisure. It is essential to make sure that you are fully covered as an entrepreneur. Business auto insurance helps you stay protected. 

You should contact an agent at Cross Creek Insurance if you have questions related to commercial auto insurance. We gladly serve business owners in Hope Hills, NC, as well as those entrepreneurs in the surrounding areas. Call today for a quote!

What Protection Does Home Insurance Provide?

Your home is a very important asset that needs to have proper insurance coverage. In situations in which you have a home loan or mortgage, you will have to have a home insurance policy in place. There are several types of protection that home insurance provides that can make buying home insurance a great idea, even if it is not required by a lender.  

Property Coverage

One type of coverage that your home insurance policy will provide is property coverage.  When you have a home insurance policy, you will have coverage if your home is damaged or destroyed by a storm, fire, or other calamity. The property coverage policy will also provide you with coverage for your personal property.  This will include coverage in the event a personal property item is stolen or vandalized. If you have valuable personal items, such as jewelry or expensive collectibles, you may need to purchase an insurance rider for your insurance policy.  

Liability Insurance

Another benefit of having a home insurance policy is that you will receive liability insurance coverage. Whenever you have someone come to your home you are taking on some liability for that person. If someone is injured on your property due to either an accident or negligence, you could be found liable. When you have a liability insurance policy in place, you will receive coverage in the event you are found to be liable for an accident that happened to another person. 

When you are looking for a new home insurance policy in the Hope Hills, NC area, reaching out to the Cross Creek Insurance company could be a very good option.  The Cross Creek Insurance company has experience in helping people better determine their home insurance needs and can help you get into the right policy for your personal situation.  

 

 

 

How to Choose the Right Auto Insurance Policy

Choosing the best auto insurance policy can sometimes be a tough mountain to climb. With so many options to consider, choosing the right policy can be stressful.

To ensure you’re making the right decisions when it comes to choosing an auto insurance policy, it’s important to understand what coverages are involved. If you’re in the market for a new policy, it’s very beneficial to understand the following coverages:

Liability

Liability involves the damage made to both the property and individuals involved in the accident. If you’re at fault for an accident and there are bodily or property damages, you’ll be covered by the amount you choose. 

Collision and Comprehensive

If you’re involved in an accident, collision coverage pays for the damage caused by the impact of another vehicle or object. Comprehensive coverage covers just about anything else that can happen to your vehicle, including falling objects, fire, theft, hail, flood damage, and more. 

Medical Payments

Medical payments coverage will pay for medical bills and funeral expenses caused by an accident. These costs can be extremely high so it’s beneficial to be protected with this important coverage option. 

Uninsured/Underinsured Motorists

This coverage is important when dealing with motorists that don’t have auto insurance or who are underinsured. With so many of these types of drivers out there, this coverage option is a great one to have. 

If you live in the Hope Hills, NC area and have questions about auto insurance, then Cross Creek Insurance is the company to call. We’re the experts when it comes to choosing the right auto insurance policy in Hope Hills, NC, and customer satisfaction is our number one priority. Contact Cross Creek Insurance today to learn more! 

 

 

Commercial Insurance: Myths vs Facts

As an entrepreneur, you may be unfamiliar with commercial insurance and the protection it has to offer. It’s not unusual for new business owners to have misconceptions concerning commercial coverage and costs. At Cross Creek Insurance, we can help clarify insurance myths so you can make wise insurance decisions based on the facts. It’s important to have a clear understanding of commercial policies in order to get the coverage you need.

Myth #1 Personal auto insurance protects a personal vehicle used for work.

Fact: Personal auto insurance policies are designed for personal vehicle use. Commercial auto insurance protects vehicles used for work. If you use a personal vehicle with personal auto insurance for business purposes, you won’t be protected against accident claims.

Myth #2 General liability insurance protects employees against accidents on the job.

Fact:  General liability coverage protects your business against accidental injuries or damages to customers or visitors on your business property, not employees. For employee protection, you need workers’ compensation insurance.

Myth #3 General liability insurance covers commercial vehicle accidents.

Fact: General liability insurance offers no protection against injuries or damages due to accidents on the road. This coverage is provided by commercial auto insurance.

Myth #4 Full coverage means you’re protected against any eventuality.

Fact: The definition of “full coverage” may vary depending on your policy. It’s important to review a policy carefully before signing to be fully aware of the protection it has to offer. The details of your policy can greatly affect how your insurer handles a claim.

Myth #5 Commercial business insurance will protect your business in Hope Hills, NC against flood damage.

Fact: Only flood insurance can protect your business against flood damage. If your business lies in a flood zone and the risk of flood damage is high, you should invest in flood insurance.

For more information on commercial insurance coverage and costs, contact Cross Creek Insurance, Hope Hills, NC.

Adopting a Child and Life Insurance Concerns

So you have decided to do it. We could not be happier at Cross Creek Insurance agency in Hope Hills, NC. You have taken the leap of faith that ensures people without homes can find a peaceful place to call home. 

In terms of your life insurance vulnerabilities adopting a child into your family is a perfect time for reassessment. The thing is that many people are so consumed with the process of the adoption that they do not consider if they are properly protecting the new addition to their family. 

Fortunately many family attorneys who are involved in the legalities of the adoption process counsel their parents on such important matters. However, for the ones who do not receive such counsel there are a few things to ponder at this joyous event.

SOME POINTS TO CONSIDER WHEN ADOPTING YOUR CHILD

  • Make certain your employment is aware of the addition to your family. While we are careful to add the child onto our health insurance policy, it is not always part and parcel to add them onto our employment sponsored benefit of life insurance policy.
  • Does your child have benefits on file for them with the agency that facilitated the adoption? Many state sponsored adoption agencies have state sponsored lifetime benefits for the child. Be certain that you are aware. 
  • Increase your life insurance for your larger family.  

Cross Creek Insurance in Hope Hills, NC has a full staff of agents who would love to make your acquaintance while assisting with your life insurance needs. Contact us today so we can get to know you a lot better and how we can check off each and every one of your insurance needs so that you don’t have to worry about not having the coverage you need. 

At what age should you start thinking about a life insurance policy?

Residents who live in the Hope Hills, NC area can contact the agents of Cross Creek Insurance if they have any questions concerning life insurance. People are often curious about when they should purchase a life insurance policy and what type is best-suited for their individual needs. Age, financial security, number of dependents, and lifestyle are all factors that must be considered before purchasing any type of insurance, including life policies.

Financial Obligations

While there is no set age where a person should purchase a life insurance policy, most agents will agree that coverage is needed if you have dependents or financial obligations, such as car and home loans. Having dependents means that if something happens to you without a life insurance policy, they will not be properly cared for. The same is true for your financial obligations. If you’re gone, no one is set up to pay them and the debt may transfer to your family. Having a life insurance policy in place takes care of both situations.

The Type of Policy

Your age and the total amount of your financial obligations will determine the type of life insurance that will best suit your needs. Whole life and permanent policies will build equity and can eventually be borrowed against. Term life on the other hand, cannot be borrowed against and is only set up for a specific span of time.

Call the agents of Cross Creek Insurance if you live in or around Hope Hills, NC and have questions concerning what type of policy you should buy and how much coverage you need to fully protect your family. They can provide you with the answers you need and make sure you fully understand how each policy works.

3 Things to Do After Your Business Expands

An exploding business is exciting for a number of reasons. It means that your business is a success and that your company has a bright future. But it can also be difficult for businesses to make a lot of changes in such a short amount of time. Keep these tips in mind from Cross Creek Insurance for how you can better prepare for the times ahead. 

1. Hiring Will Be Crucial 

It’s probably tempting to just get employees into your business to keep up with the ever-expanding batch of work. But hiring the wrong employees can make it difficult to get ahead. You’ll need to choose people who can not only keep their wits about them during stressful times but also people that you trust to do the right thing. When businesses are expanding, it sets up companies to make mistakes they’ll regret later on so don’t make rash decisions.

2. Search for Space 

If you need more space in Hope Hills, NC for your business, you’re going to need to consider everything from office configurations to safety to square footage. Sometimes it makes more sense to expand in the building you’re currently doing business out of, but other times you should really opt for an entirely different location. Before you decide one way or the other, you’ll need to think carefully through the pros and cons of each decision. 

3. Upgrade Your Commercial Insurance 

You’re going to need more commercial insurance if you have extra clients, employees, space, and equipment. The more you consider your policy, the more likely it is that you’ll be able to safeguard your business in Hope Hills, NC. Call Cross Creek Insurance if you have questions about your current policy and how you can add additional coverage.