Author: AgentInsure

How Home Insurance Policies Can Vary

Posted on by AgentInsure

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?

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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. 

Types of Life Insurance Policies

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We have all heard about the relevance of buying life insurance at some point and even thought of getting one. But do you know the types of life insurance policies and the recommended ones to consider for your needs? In Hope Hills, NC, Cross Creek Insurance is here to give you guidance and direction on the types of life insurance policies and help you get the right one.

Whole Life Insurance Policy

As long as you pay the premiums, this type of life insurance policy lasts until your death. There is a guaranteed rate of return on the policy’s cash value in this type of life insurance policy. This is because the premiums stay the same, and the death benefit amounts don’t change. The whole life insurance policy is beneficial as it provides coverage for your entire life as builds cash value.

Term Life Insurance Policy

As the name suggests, this types of life insurance policy provide coverage for a specific period. The coverage amounts vary on the policy depending on the premiums you are willing to pay.

Group Life Insurance Policy

While this type of life insurance policy is not mandatory in Hope Hills NC, it is essential to employers who seek to offer workplace benefits to their staff. The basis of the premiums is as a group and not individually. As a benefit, the coverage comes for free to the employees with the option of buying individual supplemental life insurance if need be.

Endowment Life Insurance Policy

With this type of life insurance policy, you have a combination of savings and protection. When the policyholder meets an untimely death, the insurance provider promises to pay an assured sum to the nominee. However, the policyholder receives the total payout as the maturity benefits if there is survival of the policy term.

At Cross Creek Insurance, we commit ourselves to provide the right guidance and direction on life insurance policies. Reach out today and let us help meet your insurance goals.

Commercial Insurance Add-ons to Consider

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Small business owners in Hope Hills, NC, operate on a tight budget, and expenses like insurance that don’t generate day-to-day revenue can easily fall on the wayside. Sadly, if you ignore insurance for your business, it can end in disaster when the unexpected strikes. 

While most businesses adhere to the state-required business insurance coverages, Cross Creek Insurance shares commercial insurance add-ons you should budget for to get the best out of your business insurance coverage. Besides the mandatory required workers’ comp and commercial auto insurance coverages, other add-ons you can consider for your business insurance include:

  • Commercial property insurance: It covers your business assets like the building, inventories, computer equipment, and furniture from risks like theft, vandalism, fire, and other natural calamities. You can bundle this coverage with business interruption insurance to protect your revenues when your business operations are in jeopardy. 
  • General liability insurance: Whether an online, home-based, or traditional business, you need general liability insurance to protect your business and employees against bodily injury, property damage, and advertising injury caused to third parties.
  • Business owner’s policy (BOP): This insurance bundles property insurance and business general liability coverage. Businesses looking to save costs on insurance can consider BOP since it’s more affordable. 
  • Cyber liability insurance: If you store sensitive customer data, this coverage protects you when there is a data breach. 
  • Professional liability insurance: This coverage protects your business from alleged negligence or missed deadlines when rendering professional services. This coverage is applicable for businesses like accounting, legal, auditing, and investment professions, where stakeholders rely on your professional advice to make decisions.
  • Umbrella insurance: You are aware that expensive lawsuits can wipe your assets, eating away all the gains you have made over the years. Thankfully, umbrella insurance provides an extra layer of liability protection for claims exceeding your typical commercial insurance.

Would you like to boost commercial insurance for your Hope Hills, NC business? Please contact Cross Creek Insurance for a personalized quote.

Factors to Consider When Getting Home Insurance

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Signing up for home insurance means leaving your home in the hands of a team that you have just met. It is an aspect that will likely leave you with two options; a costly mistake that means paying for inadequate coverage on your property or long-term investment that allows you to enjoy guaranteed security on your home. To help you achieve the latter, Cross Creek Insurance explains what to be on the lookout for when getting home insurance in Hope Hills, NC.

The Cost of Rebuilding Your Home

While some hazards around the home can be avoided, some will generally fall out of your control, with most weather phenomena falling in the second category. If your home suffers any property damage, you need to know that your insurance can take care of repair costs. With this in mind, first, evaluate the cost of home repairs around your area. This means taking into account labor costs as well as the costs of materials used to construct your house.

The Contents of Your Home

Apart from your home’s external components, your home belongings also play a prominent role in the type of home coverage that you get. Take into account the cost of your items, such as furniture, electronics, and valuables such as jewelry. An inventory can help with this and will go a long way in helping you estimate each item’s value and for evidence’s sake when you need to make a claim.

The Specifics of Your Cover

The majority of homeowners insurance will cater to your home’s possessions, the building structure, and liability claims. While this seems like a fair deal, make it a point to check for other specifics that can affect your compensation, such as fires, floods, mold, and sewage. Confirm with your insurance company if these items are covered and if not covered, get extra coverage for your home.

Getting value from your home insurance requires custom coverage based on your needs, an area that Cross Creek Insurance can help with. For more information on home insurance, contact our Hope Hills, NC agents today.

What Do I Do After an Accident?

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If you happen to get into a car accident, you might want to run. If you do this, you will likely create legal trouble for yourself, where there might have been none.  In Hope Hills, NC, just like it is countrywide, it’s a crime to flee the scene of an accident.

Here is what you should do after an accident stay on the right side of the law, make a successful insurance claim, and maybe even save lives. You will likely have an easier time getting your compensation after this whole process if you have your auto insurance policy under Cross Creek Insurance. 

Examine Yourself and the Accident Scene for Injuries

Though not all accidents result in serious injuries, it’s vital that you check yourself and the others involved in the accident for injuries. Call 911 immediately or ask someone to help you do so if you are seriously injured or notice someone with serious injuries. Make sure you switch off the engine and get to safety as you wait for emergency services. 

Exchange Information

Once you deal with the injuries and examine the damage to the vehicles, you can exchange information with the other driver. The information you exchange should include insurance information and contacts. According to Cross Creek Insurance, you should make sure that you get the license plate number, vehicle model, and driver’s license information of the other parties involved in the accident. 

As you do this, also take some time to document the accident. Identify the officers who responded to the scene and take pictures of the accident. It would also help to talk to witnesses and get their contact information. 

Get in Touch With Your Insurer

You must notify your insurer about the accident you are involved in as soon as possible. Call them while still at the scene to tell you what they need to fulfill your claim.

If you’ve any questions regarding auto insurance in Hope Hills, NC, do not hesitate to reach out to us for answers.

How much life insurance is enough

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One of the most important decisions you will ever make is how much life insurance is enough. Having an independent insurance agent who knows you and whom you can trust with your life is essential. In Hope Hills, NC Cross Creek Insurance is your local independent agency. We take our responsibility to provide the finest customer services seriously. With more than 20 years of experience, we are happy to share that experience with our customers. 

How much life insurance is enough is not a simple one size fits all answer. To come up with an amount that is right for you, several things have to be considered. After you have analyzed the answers to the following questions, you will be better able to come up with a figure that makes sense. 

Who depends on you?

Are you responsible for providing monetary support to anyone beyond yourself? If you are young and single and your parents and siblings are all financially independent, you may need very little life insurance. One thing to keep in mind, however, is whether or not you plan to marry and have children at some point in your life. If that is the case, you will never find life insurance at a lower rate than when you are young and healthy, 

How much money do you owe?

You should have enough life insurance to cover any debt you have. If you own a home, that includes your mortgage. 

Do you have young children?

Providing for them is one consideration that really matters. Without your income, their lifestyle could be dramatically changed. As a loving parent, you want to make sure they can stay in the home they love and not have any other changes in their life. Consider between 7 and 10 years of your income as the standard for life insurance coverage.

If you are looking for life insurance in Hope Hills, NC Cross Creek Insurance is here for you. Stop by our office or give us a call. 

Commercial Insurance Can Protect Your Business

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If you have a business or you’re thinking of starting one and you’re in the Hope Hills, NC area, Cross Creek Insurance can help with your commercial insurance needs. Depending on the type of business you have, there are different kinds of insurance coverage options to consider. Most businesses need insurance, especially if they have employees working on-site or customers coming through their doors. Someone who works online from home might not need coverage, but it can also depend on the type of business they have.

Rather than take the chance of not being covered when you need to be, it’s much better and safer to work with a knowledgeable agent so you can have the protection your business deserves. Then if an employee or customer ever makes a claim against your business for an injury or other issue, you can have some peace of mind in knowing that you have coverage. The best way to feel secure in your insurance policy choices is to talk to professionals and get the needed information so you can make the right coverage decision. Then you can get back to focusing on operating your business instead of worrying about insurance.

Reach out to us at Cross Creek Insurance today, if you’re in the Hope Hills, NC area and need a commercial insurance policy. Whether you have a policy on your existing business or you’re starting a business and need to find out what insurance options you have, we’re here to help you get the information and coverage you’re looking for. It’s not just the peace of mind that comes with insurance, but also the protection and security that’s so important. By working with us, you can find the right type of coverage so you can get on with building your business.

Will Home Insurance Cover Lightning Damage?

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The exclusions and covered hazards on your insurance policy generally come down to the cause of damage, rather than what was damaged. So if your Hope Hills, NC home is hit by a car, that’s probably covered no matter where the car hit your home or what sort of damage it did. But flooding will have to be covered by flood insurance.

So what about lightning?

Good news: It’s probably covered.

Different home insurance policies have different exclusions, so you’ll have to check your policy and make sure, and call your agent and ask if you can’t find it listed anywhere. But by and large, you can expect that your home insurance policy does cover lightning damage.

If you’re wondering how much damage lightning can really do, well, lightning heats the surrounding air up to a temperature of about 50,000 degrees Fahrenheit. So to say it can do a lot of damage is an understatement. It’s like launching a flaming cannonball into someone’s home.

50,000 degrees Fahrenheit, by the way, is hotter than the surface of the sun. The good news is that it’s usually raining, so a home struck by lightning might not burn down. But it only takes 50,000 degrees a fraction of a second to do a lot of damage.

If you have any questions or you’re looking to get covered in Hope Hills, NC, get in touch with Cross Creek Insurance. Cross Creek Insurance can get you a good deal on great coverage against everything from lightning and burglary to vandalism and falling trees. Just make sure to read your policy to guarantee your peace of mind.

Common Misconceptions About Auto Insurance

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Anyone who drives in Hope Hills, NC carries auto insurance, but not everyone who drives in Hope Hills, NC understands their policy. Here are some of the most common misconceptions about auto insurance:

  • A basic policy will cover you from theft. Actually, a legal-minimum policy doesn’t protect you from anything except liability. It’s only there to make sure that the other party’s losses are covered if you are found to be at fault in an accident. To cover your own car, you will need a more robust policy.
  • Your policy will cover your car no matter what you use it for. There are some major exceptions to your policy’s coverage. Obviously, you can’t take your Honda to the drift track unless you have clearance from your insurer, and business use is limited. Make sure to call your insurer and ask before doing anything you’re unsure of.

If you’re looking for a provider, or if you have any questions, get in touch with Cross Creek Insurance. When looking for an insurer, you need to find an agency that will help you to get a policy that matches your lifestyle, your needs, and your budget. And that is exactly what Cross Creek Insurance is here to help you do.