Business owners should know the challenges they might face when they insure their company in Hope Hills, NC. At Cross Creek Insurance, we can help you overcome these challenges and protect your company and livelihood with quality insurance coverage.

The following are three challenges you may face when you buy commercial insurance. 

Understanding your legal responsibilities

In certain situations, businesses are required to have commercial insurance. For example, you may need to have workers’ compensation insurance if you are an employer depending on the state in which your business is located. 

You need to research your legal responsibilities and ensure you’re meeting them with your commercial insurance coverage. Otherwise, you could face fines and other penalties that may compromise your company’s profitability.  

Deciding how much commercial insurance your business needs

Many business owners buying commercial insurance for the first time aren’t sure how much coverage they need. The amount of coverage you need depends on various factors, including the size of your company, the industry in which you operate, and the structure of your business (sole proprietorship, LLC, etc.)

If you’re uncertain about how much coverage you need, you should discuss this issue with an insurance company representative or a financial professional such as your accountant. 

Knowing when it’s time to buy commercial insurance

Generally, you should purchase insurance immediately after starting a company. Even if your company is still just a tiny startup, it’s best to have insurance coverage. 

At Cross Creek Insurance, we’re happy to assist companies that need insurance in Hope Hills, NC. Contact us online or by phone to learn about your insurance options. 

Many think of life insurance as a way to financially protect surviving loved ones. And life insurance is that, but it can also be much more. When you’re ready to discuss your life insurance needs, please contact Cross Creek Insurance, serving Hope Hills, NC. We can help assess your situation so you get the life insurance you and your loved ones need. In the meantime, here are some essential things to consider when considering life insurance.

Life Insurance Can be an Investment

Whole life insurance policies have grown in value over the years. They can serve as a significant financial investment for later on in life. For instance, if you ever need a short-term loan, you could borrow a certain amount on your whole life insurance policy for a preferred rate. Then, you pay it back, which goes back to your insurance policy.

Life Insurance Can Help Pay For a College Education

When it comes time to fill out your child’s student loan paperwork, you don’t legally have to declare the value of a whole life insurance policy. Yet, you can cash in that policy and use it to help fund your child’s college experience.

Your Loved One Needs Time

When calculating your needs for a term life policy, many people think only about their loved ones paying for the mortgage and bills for the time being. But bear in mind that losing you will play heavily on their hearts. They’ll need lots of time off of work to grieve, emotionally heal and try to put the pieces back together. In short, whatever figure you came up with, you should increase it so your loved one isn’t forced to return to work too soon.

Contact Cross Creek Insurance, serving Hope Hills, NC for all your life insurance needs, including whole life, term life, and more!