When is Term Life Insurance Beneficial?

When purchasing life insurance, you will be offered whole life insurance and term life insurance. Whole life insurance covers you your entire life, as long as you keep making the payments. Term life insurance covers you a set period of time, such as for the next 10 years or until you reach the age of 50, and then the policy expires. One of the questions that people frequently ask us at Cross Creek Insurance, serving Hope Hills, NC, is when is term life beneficial. Here is some information on the benefits of term life insurance. 

When Money is Extremely Tight

If money is currently very tight, term life insurance may be beneficial to you. Term life insurance is often cheaper than whole life insurance policies. This type of plan can help you to get life insurance coverage at a time when you may think that you cannot afford life insurance coverage. 

When You Know Your Debt Will Be Paid Down

Another time when term life insurance can be beneficial is when the expiration of the policy coincides with major changes in your life that ensure your debt will be less. Some people carry term life insurance and have it end when their children will be out of college and/or their home will be paid off. You need less money at this time, so may not need a large life insurance policy when your debt is paid down. 

When you are trying to obtain a life insurance policy, it is important to understand whether you are buying whole or term life insurance and what the benefits of each option are. Here at Cross Creek Insurance, serving the greater Hope Hills, NC area, we can help you find the right type of life insurance for you. Get started today! 

Does A Single Accident Make Your Policy Cost Increase Significantly?

When it comes to auto insurance, many factors may influence the amount of the policy and its premiums. One of the primary factors in an accident and citation history. Each time an incident is reported, it is going to influence your ability to obtain coverage and the amount the policy will cost. 

How An Accident Effects Policy Premiums And Cost

If you are in an accident, you will likely see an impact to your premiums and the cost to reestablish your policy at the end of the term. Even if the accident is minor, it can have a major impact on your ability to secure a policy from certain insurance providers and may also make the cost of the policy increase significantly. The best way to find out how an accident will impact you personally is to consult with an experienced insurance agent. 

Finding A Cost-Effective Auto Policy 

If you have had a recent accident in the last few years, you may face issues with finding a policy that stays within your budget. However, with the assistance of a skilled insurance agent, you can discover options that fit your needs and keep your costs to a minimum. If you are living in or near the Hope Hills, NC area, you can count on Cross Creek Insurance to give you plenty of cost-effective auto insurance options that help you stay compliant and protect you while you are on the open road or even parked at home.

Establishing good insurance protection can also largely depend on the provider and the agents they have serving their clients. If you would like to speak with an agent about your options, call or stop by Cross Creek Insurance, serving the residents of Hope Hills, NC. 

Review your home insurance before storm season starts

Storm season will be here before we know it, and it makes sense to start preparing now. The team at Cross Creek Insurance is here to help the greater Hope Hills, NC community get ready for the storm season. Knowing that you have the right home insurance policy in-place will allow you to ease your worry if a storm were to hit our area. Don’t wait until the damage is done to make sure that you are protected. We are here to provide all your insurance needs, including policy reviews.

Now is a great time to review your home insurance policy

Having the right home insurance at the correct coverage level can make storm season less of a headache, should an event occur that damages your home. A local agent can also help you in the event that you need to file a claim, which is why we always think it’s a great idea to always work with someone who knows your area. If your home value has increased or the property values in your neighborhood have changed, you may need to adjust your policy levels. The time before storm season offers a good opportunity for you to review all of your insurance and make sure that everything is inline. It’s never fun to find out that you don’t have the right insurance after a damaging event has occurred! In fact, it is a great idea to review your entire insurance portfolio each year to ensure that you and your family have the protection you need.

Let’s review your home insurance policy now, and make sure that you have the protection you need! Call or stop by Cross Creek Insurance today and let us help you cover your Hope Hills, NC home. 

Commercial Insurance for Small Businesses

Insurance for a small business includes consideration of the basic requirements of workers’ compensation, professional liability, general liability, commercial vehicle insurance, product liability, and property insurance.

Worker’s Compensation

Small businesses in North Carolina that have three or more employee (even if only part-time) are required by law to carry workers’ compensation insurance. An exception to this rule is made for agricultural employers. They are not required to carry workers’ compensation unless they have 10 or more full-time workers who are not seasonal workers.

Professional Liability

Self-employed individuals do not have to carry worker’s compensation insurance. However, if your work requires a license under North Carolina’s laws, you need to have professional liability insurance.

General Liability

This provides protection from claims against a business for property damage, injuries (like a “slip and fall”) and associated medical expenses. Every small business must have this protection to operate safely.

Commercial Vehicle, Product Liability, and Property

If any vehicles are used for the business these need to have commercial vehicle insurance. If the company makes or distributes any products, it should have product liability insurance. If the business owns or leases any commercial space, then it needs to have property insurance.

Home-Based Businesses

Home insurance will not cover business equipment and inventory or other business liability. Instead, a general liability commercial policy is needed and property insurance for the business that is based in a home.

The agents at Cross Creek Insurance, serving Hope Hills, NC and the surrounding area, can help with any insurance need for your small business. They will cover the basic insurance requirements as described above and then make suggestions about other types of protection that is beneficial to have.

Business Interruption

This protection helps pay the bills if the business shuts down due to some calamity. With the risk of natural disaster increasing due to weather changes caused by climate change, it is wise to have this protection.

Conclusion

Every business, especially a small business need adequate insurance protection. Work with your agent at Cross Creek Insurance in Hope Hills, NC by calling 910-423-2900 to get a quote for all your commercial insurance needs.

Who Can be the Beneficiary of Your Life Insurance Policy?

Life insurance helps many people to make the lives of those they leave behind better. When you buy an insurance policy and name a beneficiary, the cash proceeds of your policy go to that person after you die. But you are not limited to naming a person as a beneficiary.  Here’s what you need to know before writing a name to your policy.

Typically, people name a spouse or a child/children as the beneficiary. At Cross Creek Insurance, where we serve Hope Hills, NC, we will let you know if instead of naming a child who has not reached the age of consent, you should designate a legal guardian for that child. When you want your spouse to get the benefit of your life insurance, be specific in naming  the person rather than writing "spouse." Divorces and remarriages do happen.

Perhaps your philanthropic spirit makes you want to name a charity as the beneficiary. Make sure that the charity will accept the gift, and find out if it is a 501(c)(3) organization. Otherwise, the group may be subject to taxes. If you have a partner in the business you own in the Hope Hills, NC area, a life insurance policy can help your business survive. Name your co-owner as beneficiary. 

You cannot name a pet as a beneficiary because it’s considered property and cannot sign legal documents. However, you can name as beneficiary a person you trust to take care of your animal.  An alternative is to the set up a trust for your non-human companion. Then buy a life insurance policy and name the trust as beneficiary. Talk to us at Cross Creek Insurance so the people you care about can benefit from your life insurance policy. 

 

What should I do if I am in an auto accident?

A lot of what you need to do if you are involved in an auto accident in Hope Hills, NC seems pretty common sense. You should stop as soon as possible after an accident, or pull off at the closest safe place. You may need to move your vehicle out of a travel lane, but you should try to stay where you are if the area is safe. As soon as you are able, see if anyone is injured and needs help.

Even if you are not required to call the police, you may want to do so as a precautionary measure. North Carolina law requires you to make a report if there was significant property damage or if anyone was injured. However, what looks like a small amount of damage may be expensive to repair, and someone who seemed fine could have a serious head or back injury.

At Cross Creek Insurance, we encourage our clients to call the police so there will be an unbiased witness. The officer will help collect all the information for the report, including the drivers’ information, their vehicle information, and the condition of the vehicles. The officer can also look for other important evidence like skid marks and witnesses.

Drivers in Hope Hills, NC are required to carry a certain amount of insurance, and you will need to provide your name, contact information and insurance for even minor accidents. You should take your own notes, and keep a record of everything at the scene, such as the other driver’s information, any witnesses, and the officer’s name and badge number.

If you have any questions about what to do after an accident, or if you want to discuss whether your current policy provides enough protection, please call Cross Creek Insurance today for a free quote.

Summer Cleaning Tips for Homeowners

The summertime is fast approaching and you are ready for a fresh new look in your home. Start with some quick tips that will keep your home fresh and clean throughout the summer months. You can also rely on the Hope Hills, NC agents at Cross Creek Insurance to give you information regarding home insurance.

Start with your refrigerator. It’s time to pull out all the old food and remove the shelves. Throw away any food that has spoiled or is past its expiration. Wipe down the inside of the refrigerator with mild soap and water. Avoid using harsh sprays because this can linger and damage your food and drinks.

The coffee maker should be your next stop in the kitchen. Depending on whether you have a single-cup maker or a multiple-cup coffee maker, you should run it through a cleaning cycle with vinegar and water. If there are stubborn coffee deposits, you can soak it in soap and water.

Toast is another morning favorite, but the toaster has had its challenges. When you begin to smell burning due to random crumbs at the bottom of the toaster, it is time to clean it. Some toasters have a small removable crumb tray. Wipe the rest of the appliance with a damp washcloth.

Remove all the blinds and wipe them down with a damp sponge. While the blinds are down, you should also clean the windows. If your house has ceiling fans, this is the perfect time to clean them as well as any light fixtures.

A great non-abrasive cleaner is a baking soda and water combination. You can turn it into a paste for a porcelain bathtub or tile walls.

Having your home clean for the summer can make your season go smoothly. Talk with one of the agents in Hope Hills, NC at Cross Creek Insurance to discuss your homeowner’s policy and its coverage.

 

Top 3 Features to Look for in Your Commercial Insurance Policy

Are you looking to secure commercial insurance for your new business? Whether you are just starting out or are a seasoned veteran who wants to review their policy for completeness, it’s time to contact Cross Creek Insurance and find out more about your options. Comprehensive commercial insurance policies are available in many different options for business owners in the greater Hope Hills, NC area. We always find it a smart idea to make sure that your coverage is correct before you need it! When looking for the policy that is right for you, you may wish to consider these 3 important features.

  1. Business interruption coverage – when your business goes offline due to a covered event you will need to continue paying bills and maintain your business. This coverage is important as it allows you to focus on getting your business back up and running without having to worry too much about cash flow.
  2. Damage protection due to all kinds of weather – the North Carolina area sees its fair share of damaging weather. Some policies may not cover your business if it is damaged by wind or water, and may require a separate policy to cover those events. 
  3. Asset protection – liability protection becomes even more important as your business and assets grow. If your current policy has coverage limits, typically $250,000 adding an umbrella policy to your commercial insurance will protect you and your family.

The team at Cross Creek Insurance is proud to serve the needs of the greater Hope Hills, NC area, especially those of our business community. Call or stop by our office today and find out more about the different commercial insurance policy options that are available to business owners in the state of NC.

What Voids a LIfe Insurance Policy?

Life insurance is something that many people have and that many people think about getting but never really take the plunge. This type of insurance policy is helpful for anyone that thinks they might need to help their family out with final expenses or that simply does not want their family to have to deal with the cost of final expenses. For those that live in the Hope Hills, NC area, the agents with Cross Creek Insurance can help you to get the policy you want and need to feel fully secure.

For those that are interested in a life insurance policy, it is just as important to note what voids a policy as it is to note that a policy covers. For those that have life insurance, stopping paying premiums can void a policy as can fraudulent claims. In other cases, if the policyholder takes their own life the policy is not going to pay out. For those that enter false information, your policy can also be voided. For some life insurance policies, a terminal illness like cancer can also void a policy. if you want to be sure that your policy is in good standing and that there are no issues, it is always best to speak with an agent to find out more.

Your policy is your security and your ability to rest easy and know that your family is going to be able to pay for your final expenses without worrying when you pass. The chances that your policy is going to be voided without your insurance company notifying you first are slim. For those in the Hope Hills, NC area, the agents with Cross Creek Insurance can help you to find the right policy for you no matter what.  

What are the consequences of driving without insurance in North Carolina?

People in Hope Hills, NC are like everyone else, wanting and needing to drive. North Carolina has some rules about how much insurance drivers are required to carry in case they are in an accident. Every driver will need to be able to prove liability coverage totaling up to $30,000 to cover any bodily injuries, such as broken bones or whiplash, with a total of $60,000 for the accident. Drivers also need at least $25,000 to cover the victim’s vehicle.

Any policy you obtain through Cross Creek Insurance will be sure to meet those minimal requirements. If you are caught driving and it is discovered that you are not carrying the minimum amount of coverage, there are serious possible repercussions. 

Civil Penalties 

Your possible penalty for driving without insurance in North Carolina depends on how many times this has happened, and punishments get progressively worse. You can even have your vehicle registration suspended if you have not verified the vehicle is insured.

The first fine is $50, with an extra  $50 fee for license reinstatement. The next penalty is $100, and the third is $150. All of these carry the extra fee for license reinstatement and a 30-day registration suspension. 

Criminal Penalties 

The state of North Carolina takes driving without insurance very seriously, and you can also receive criminal charges if you are caught driving without proof of financial responsibility. Operating a vehicle without insurance is a Class 1 Misdemeanor, meaning it is punishable by up to 120 days in jail. The Court may also issue a fine, and you could get probation.

Clearly, it is better to have a solid insurance policy from a company you can trust when driving in Hope Hills, NC. If you want to make sure you have coverage that makes you comfortable, or if you just have questions, feel free to call one of the friendly agents at Cross Creek Insurance today.