Many car owners in Hope Hills, NC are unaware or fail to take a keen interest in their auto insurance policy terms. Many car owners in this region have contacted us at Cross Creek Insurance to determine whether they need to inform their insurers when they move. Here’s what to know.
It will help if you inform your auto insurer when you move.
As the policyholder, you must inform your auto insurer when you move to another house in the same neighborhood, another neighborhood or city, or state. Failure to inform your auto insurer about your moving violates the terms of your auto insurance policy. The consequences of this violation could include:
- Termination of your policy, which will leave your uninsured
- Claim rejection of the insurer finds out that your claim is based on an incident that occurred after you moved without informing them.
- The tarnishing of your insurance record by terminating your policy or rejecting your claim leads to higher premiums on your next auto insurance policy. The higher premiums will be because insurers view you as an untrustworthy policyholder and a greater risk to insure.
Why should you inform your auto insurer when you move?
Your insurance company calculates your auto insurance premiums based on the risk level of your location. If you move from a house with a garage to one without in the same neighborhood, your risk level increases; thus, the auto insurer needs to charge you higher auto policy premiums for the increased risk. This is also the case when moving from one neighborhood or city to another. If you move to a safer house, neighborhood, or city, your risk level will be lower; thus, informing your auto insurer will enable you to enjoy lower premiums.
Contact Cross Creek Insurance for unrivaled auto insurance info and deals in Hope Hills, NC.
One blunder most homeowners make after purchasing a home insurance policy is failing to regularly review it and assume that they are sufficiently covered in perpetuity. They are usually shocked when a peril covered under their home policy occurs and aren’t compensated as expected. As a Hope Hills, NC homeowner, you can avoid such shocks by reviewing your home policy habitually. At Cross Creek Insurance, we suggest that you create a habit of checking your home policy every:
1. Year Before Renewing It
Most home policies offer coverage for a year; however, the insurance provider will renew it automatically if you keep paying your premiums. You should always take the time to reassess your home policy every year before renewing it. Check for any changes the insurer might have made to the terms of the home policy and adjust the deductible to reflect your current financial state.
2. Time the Property Prices in Your Area Rise or Fall
While many homeowners remember to reevaluate their home insurance policy when the prices of their homes rise, very few remember to do the same when the value of their home fall. Reviewing your home insurance when the value of your home goes up means you will get appropriately compensated by the insurer. On the other hand, failing to reassess your home policy when the property value falls means you will lose money paying unnecessarily high premiums.
3. Time you remodel or renovate your home
Every time you remodel or renovate your home, you should reevaluate your home policy. Thus, the renovations and remodeling that you have done to your property will be covered by your policy.
Hope Hills is one of the best residential areas in North Carolina, which is why you should have home insurance as a homeowner in this area. Contact Cross Creek Insurance in Hope Hills, NC for your home insurance needs.