Home Insurance – FAQ

If you are buying a home, you need to get home insurance as well. First, because it may be required by your mortgage lender. And second, because it is the most effective protection of your dwelling, yourself, and your personal belongings. If you are a first home buyer, you may find it hard to choose the right insurance. For this reason, Cross Creek Insurance serving Hope Hills, NC prepared a list of the most common questions with the answers about this insurance in order to help you make the right choice. 

What Does Standard Home Insurance Cover?

A standard home insurance policy covers the following things:

  • The structure of your home
  • Other structures on your property, including garage, tool shed, and gazebo
  • Your personal belongings
  • Additional living expenses if your home is temporarily is being repaired and you have to stay somewhere else
  • Personal liability
  • Valuable belongings (you may need additional coverage)

Is My Home Business Covered By Home Insurance?

Unfortunately, most insurance policies do not cover home business. Your policy may cover the replacement and repair of certain equipment or some other electronic devices that you use for your business, but in general, you will need separate coverage to protect your home business. 

What Else Is Not Covered By Home Insurance?

There are some other things that most likely will not be covered by your home insurance policy. For example, damages caused by floods are not covered, even though your insurance will probably cover water damage from a pipe. Therefore, if you live in a flood-prone area, it is recommended to get separate flood insurance. 

Cross Creek Insurance – Your Reliable Insurance Agency in North Carolina

If you are a homeowner from Hope Hills, NC or any other nearby town, and you are looking for home insurance to protect your home, yourself, and personal belongings, you should contact Cross Creek Insurance – a trustworthy insurance agency that will be glad to help you find the perfect policy addressing your personal needs. If you have any questions, do not hesitate to contact us. 

Why North Carolina Drivers Need Custom Parts And Accessories Coverage For Their Custom Vehicles

Cross Creek Insurance serves the Hope Hills, NC community. We offer our clients a wide range of policies to help meet their unique needs. We want to make sure that you are protected when an unexpected situation arises.

Why North Carolina Drivers Need Custom Parts And Accessories Coverage

As a Hope Hills, NC driver, you are expected to obtain auto insurance. There are a lot of variables at play while you are on the road. Auto insurance protects you if an unexpected incident occurs. It only takes a split second for you to collide with another vehicle. Collision coverage protects you in that situation. Comprehensive coverage protects you if your car is stolen or someone vandalizes it. Inclement weather frequently comes through North Carolina, and comprehensive coverage protects your vehicle if a tree falls on it or a flying object cracks your window. Liability coverage is also important. Liability coverage protects you if you’re responsible for someone getting hurt or your vehicle damages someone’s property. The policy also covers any injuries to a passenger in your vehicle.

There are special types of coverage you can add to your auto insurance policy. Custom parts and accessories coverage is an asset if you have made any upgrades to your vehicle. The most common custom accessories protected include special wheels, stereo systems, chrome, paint, and anti-theft devices. If your custom vehicle suffers damage, you are left unprotected if you don’t have custom parts and accessories coverage. Check the terms of your policy. You may need to have your custom vehicle appraised before moving forward.

Cross Creek Insurance Will Help You Protect Your Assets

Visit our website to learn more information about auto insurance.

Life Insurance Terms Everyone Should Know

Life insurance can be a confusing topic to figure out. Here are a few terms that will help you clearly speak the language of life insurance. For more details on these terms or on any other life insurance questions you have, trust the professionals at Cross Creek Insurance serving Hope Hills, NC to meet your needs.

Annuity: This pays out a fixed sum of money to the policyholder at regular intervals

Beneficiary: The person or people are chosen by the policyholder to receive the proceeds from an insurance policy if the insured dies

Death Benefit: Amount of money paid out to a beneficiary after the policyholder dies

Evidence of Insurability: Documentation provided during the application process to prove the health of the insured person.

Face Value: This is the amount of money that will be paid out when the insured dies. For example, if the insured purchases a $100,000 policy, that is the amount that their beneficiaries will receive.

Insured: The person that benefits will be paid out for in the event of their death

Life Insurance: When a policyholder pays premiums to an insurance company, and the insurance company agrees to pay the face value to the beneficiaries upon the insured’s death

Living Benefits: Advance cash payment of part of a policy before the policyholder dies. Provides financial assistance to the insured before their death

Policy Holder: The person who bought or owns the life insurance policy

Term: The amount of time that the policyholder is insured

Underwriter: The person or company that decides if a potential policyholder is insurable

To find out more about life insurance or get a policy, contact the team at Cross Creek Insurance serving Hope Hills, NC today!

Why do businesses in North Carolina need commercial insurance?

In the Hope Hills, NC area, there are a lot of opportunities for businesses to be successful. Those that are looking to build a business in this area of the state need to make sure they insure and protect it as well as they can. A great way you can do this is by getting commercial insurance, which offers several forms of protection. 

Stay in Good Standing with Requirements

An important reason to have commercial insurance in this area is so you can stay in good standing with your requirements. Those who choose to start a business may need to raise money from banks or investors and may want to lease a building to operate out of. In these types of agreements, there is almost always a requirement when it comes to maintaining commercial insurance. If you do not have this coverage, you will be out of compliance and could face penalization. 

Protect Solvency of Company

You also should get a commercial insurance plan as it can help to protect the solvency of your business. To start any type of business today, you will need a lot of capital to get it off the ground. Losing this investment due to an accident or unforeseen event can be very damaging. Due to the coverage it provides, a commercial insurance plan can help to protect this solvency.

As you are looking for a commercial insurance plan in the Hope Hills, NC area, it would always be a good idea for you to speak with a professional. The team with Cross Creek Insurance offers the support needed to build a proper plan. Cross Creek Insurance can help by carefully evaluating and assessing your situation and helping you build a plan that will meet your needs. 

Why should I have home insurance in North Carolina?

When you are in the Hope Hills, NC area, you will have various housing options to consider. One great option is to purchase your home. Those that are property owners here will enjoy long-term appreciation while also having a consistent place to call home. If you do purchase a property, you also need to get insurance for it. You need home insurance here for a few reasons. 

Coverage is a Lender Requirement

A reason to have home insurance in this area of the state is that it will be a requirement set by your mortgage lender. With historically interest rates, financing your home purchase is a good idea in many cases. If you do use a mortgage, there are lender rules that need to be followed. This often includes requiring you to get home insurance and maintain the plan the whole time.

Coverage Protects Your Assets

Even if you do not finance your purchase with a mortgage, you should still get insurance. Your home is a major asset and commitment that you will want to enjoy. To ensure you can continue to benefit from the purchase, you need insurance. With this coverage, you will have the support needed to repair your property if it incurs a variety of different types of damage in the future. 

Owning a home in the Hope Hills, NC area can be a great idea. If you would like to be a property owner here, it would be a good idea for you to call Cross Creek Insurance. If you would like to get a new policy in this area, it would be wise to call Cross Creek Insurance. The team here can offer any guidance that is needed to choose a new plan that will meet your needs. 

What comes with auto coverage in North Carolina?

In the Hope Hills, NC area, owning a vehicle is a great way to get around the community. When you are looking to purchase a car, it continues to be very important that you fully assess your insurance needs. When you get an auto coverage plan, you will get a few types of coverage that will make it worth your investment.

Coverage Against Liability

Those that choose to drive a car need to realize that they regularly will be accepting and taking on the risk of liability. If they are at fault in an accident, it is likely that they will be held responsible for damages. As these can be significant damages, finding a way to reduce the impact of the risk is important. An auto insurance plan can help you do this as it will offer ideal liability coverage. 

Coverage for Vehicle

While having liability coverage is important, you also want to have protection for your vehicle. With a collision and comprehensive plan, you will know that you will always have the coverage in place that is needed to repair or replace your vehicle. This can provide to be very helpful if there is ever an accident or other situation that results in damage or another loss.

People in the Hope Hills, NC area will always need to have auto coverage when they are going to get a vehicle in this area. As this is a very important type of coverage to get, it would be a good idea to call Cross Creek Insurance to discuss your needs. There are a lot of choices that need to be made with this type of policy and Cross Creek Insurance can help. This will help ensure you remain properly covered at all times. 

What type of life insurance is right for me in North Carolina?

Those that are in the Hope Hills, NC area are going to want to have proper insurance in place at all times. A form of coverage that all people should consider here is life insurance. There are several forms of life insurance to consider when you are in the market, the two most common of which are whole and term life. You should consider the features of each plan type when choosing a new policy. 

Term Life Coverage

A common form of coverage to have here is term life insurance. People often prefer to have term life insurance because it provides coverage for a specified period of time and can come with any policy level that you want. This makes it easier to build a plan that is curtailed to meet your needs. Further, the premiums tend to be more affordable than other policy options.

Whole Life Coverage

People all over this state should also consider getting a whole life insurance plan. When you have whole life coverage, you can have a life insurance plan that will provide coverage for the rest of your life. An added benefit is that a whole life plan will provide you with an investment benefit as some of your regular payment will build in an account and grow with interest, which you can close and convert to cash in the future. 

Choosing a life insurance plan in the Hope Hills, NC area is always going to be an important decision. If you are looking for a new plan here, it would be a good idea for you to call Cross Creek Insurance. Those that are going to work with Cross Creek Insurance can learn a lot about their different insurance options and will receive the support needed to choose a new plan that provides the ideal coverage for their situation. 

Benefits of Getting Commercial Insurance

As a business owner, you probably understand how important commercial insurance is. The decision to not have it can cost you the business or eat up all your profits. There are many benefits of having business insurance, and the insurance agency Cross Creek Insurance serving Hope Hills, NC and other nearby towns prepared a list of its main advantages: 

Benefits of Having Commercial Insurance

  • Liability. One of the main benefits is that you as a business owner are covered for liability. If someone is injured on your business site, and you do not have proper commercial insurance, you may end up paying thousands of dollars for medical bills. 
  • Theft. Business insurance also covers equipment and goods that have been stolen. Thus, if you kept your business stuff in a warehouse, and it was stolen, commercial insurance will cover its replacement. So you can quickly get a new inventory and continue operating your business. 
  • Natural disasters. By buying business insurance, you are protecting your equipment and inventory in case if they are destroyed by a natural disaster. If you do not carry commercial insurance and your assets and commercial building are affecting by a disaster, you will have to cover all the losses yourself.

Cross Creek Insurance – We Are Here To Help You and Your Business

If you operate your business in Hope Hills, NC or any other surrounding town, and you are looking for a reliable insurance agency to get commercial insurance, Cross Creek Insurance is here for you. Our insurance agency is dedicated to protecting your financial future and the future of your business. Feel free to give us a call if you have any questions or you want to know more about the insurance solutions we offer. 

How Home Insurance Policies Can Vary

When you buy home insurance for your Hope Hills NC home, it’s likely to vary from your neighbor’s. Yes, home insurance isn’t standard across — many factors cause variations in home insurance. Keen to find out? Hang on, as Cross Creek Insurance explains. 

The factors below may cause your home insurance premiums to vary year on year. These include:

Sum insured

Sum insured refers to the amount you receive when filing a claim. Here, you need to understand the difference between replacement value and market value. The market value includes the value of your land. Simply put, it’s the amount of cash your home would fetch if it were to be sold today. On the other hand, replacement value is the amount it would cost if your house were to be rebuilt today from scratch. 

Depending on the value you use (although replacement value is ideal), your premiums are likely to differ since the two values aren’t the same. 

Deductibles

It’s most likely that your home insurance plan has deductibles, which the amount you pay first before your insurer compensates you. If you choose a high deductible, your premiums reduce — and vice versa is true.

Coverages

The more coverages you include, the more expensive your premiums become. For your home, you can choose the below coverages:

  • Liability coverage
  • Dwelling coverage
  • Additional living coverage
  • Personal contents coverage
  • Other structures
  • Medical payments

As you can see, home insurance is broad. As such, your policy is likely to vary depending on the number of coverages you include in your plan.

Riders / endorsements

These are optional coverages you consider when boosting your home insurance policy. Some examples include flood, umbrella, and sewer backup policies. Definitely, if you consider add-ons, your home insurance policy will vary. 

Other factors that cause home insurance policy to vary include:

  • Home security level
  • Your location
  • Age of your structure
  • People or pets residing in your home
  • Claim history

Would you like to learn more about home insurance? Contact Cross Creek Insurance, serving Hope Hills, NC, and its environs. 

What could happen if I do not carry auto insurance in North Carolina?

Those that are in the Hope Hills, NC area and own a car should get an auto insurance plan for it. This type of insurance is very helpful as it can offer some valuable protection. If you do not carry this insurance, you could face a few different challenging situations. 

Responsible for Damages

One of the reasons that you should get auto insurance is so you can have coverage if you are at fault when in an accident. Even if you are a careful and diligent driver, accidents do happen. If you are at fault, you will have to cover any damages. If you do not have this coverage in place at all times, you will have to pay to cover the damages out of your own personal savings. This can be difficult as total damages in even a minor accident can be expensive.

Violation of Agreements

If you do not have an auto insurance plan, you could also find yourself in violation of certain agreements. Having auto insurance is required by state law and typically required by auto loan providers. If you do not carry this coverage, you will be in violation of these agreements. This could lead to penalization, which can include being assessed a fine or being in default with your lender. 

If you do want to get an auto insurance plan, and you are in the Hope Hills, NC area, speaking with the team at Cross Creek Insurance is a great option. As you are building your insurance plan, Cross Creek Insurance will give you great guidance and support. This will help you build a plan that will protect you and your vehicle while also ensuring you stay in full compliance with your insurance requirements.