Author: AgentInsure

If my insurance company deducts my deductible from a homeowners claim do I still pay the deductible ?

Posted on by AgentInsure

If your home in Hope Mills, NC is damage by a covered event, your home insurance is designed to help you make the required repairs. Your insurance deductible is the amount you pay out of your pocket for the repairs. You only need to pay this amount once per any event. The method for how it is paid depends on whether the company pays the contractor directly or reimburses you after the work is completed.

Direct Payment to a Contractor

In many cases, your insurance company will work directly with the contractor you have selected for the repairs. The first step is having the insurance company adjuster determine what the repairs should cost or what the company is willing to pay. You should get a few estimates from reliable contractors and the estimates need to be within the amount the insurance company is offering.

If the company decides that the repairs should cost $3,000, a payment would be made to the contractor for that amount minus your portion. For example, if your deductible is $500, the insurance company would pay $2,500. You would be responsible for paying the balance.

Homeowner Reimbursement

In the same situation, your insurance company might pay you directly. You would pay the contractor the $3,000 and receive a reimbursement from your insurance company for $2,500. However, if you have a mortgage on your home, the reimbursement check may be made out to both your and your mortgage company. Lenders often want to ensure the work actually was completed before the check will be signed over to you.

As your independent agent, we will work with the insurance company on your behalf. If you have any questions or concerns, please contact us. We can also help you compare home insurance costs online to ensure that you are getting the best rates.

Does the liability insurance cover my medical bills?

Posted on by AgentInsure

If you have been in an accident recently you may be wondering about how the insurance will work in regards to your medical bills and other damages. The answer to "Does the liability insurance cover my medical bills?" depends entirely upon the type of insurance that you have, and upon who was responsible for the accident.

Liability insurance is the type of coverage that is designed to cover the medical bills of other people if you were the responsible party for the accident. Thus, if you are hurt in an accident because of another person’s negligence, their liability coverage will pay your medical bills once liability has been firmly established.

On the other hand, if you are the driver responsible for the accident and you incurred medical bills as a result of the accident, your liability coverage will not generally cover your medical costs. While liability is designed to protect other people, comprehensive insurance is designed to protect you.

If you are driving and cause an accident that generates medical bills for both you and the other people involved, your insurance may be involved in a couple of ways. The liability coverage will usually be used to pay the medical costs of the other persons in the accident while the comprehensive coverage will pay the medical costs that you incur.

Having a well rounded auto insurance policy means having several different types of coverage in most cases. Your insurance agent can create a bundle that includes all the insurance you need to be sure to protect both other people and yourself in case of accidents. Check out our live comparative quotes or feel free to give us a call for a free quote today!

What is the liability to a neighbor of a home day care business if a day care child is injured on the neighbor’s property?

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When a child is injured in Hope Mills, NC, it can be a problem for every individual involved in the situation. Even though a child may be staying in a day care facility, the liability of an accident may or may not be applied to the child care program.

Permission from Parents

Children who are staying in a home day care may not have the same treatment as children who stay in a child care facility. The day care provider may ask parents if it is appropriate for their children to play with the neighbor’s children or the neighborhood children.

If parents have given their permission for their child to play with local children and visit their homes while they are under the care of a home day care program, then the liability of an injury may fall to the neighbor’s home insurance policy.

Day Care Responsibility

Even though the injuries may be handled by the insurer of the homeowner, a day care is responsible for the children. That means that parents may decide to sue the facility. If the parents of a child decide to sue the day care, then the insurance policy will usually help pay for any settlement, fees and associated costs of the injury. In some cases, the liability plan may cover any additional costs associated with the injury if the neighbor’s plan has a limited amount of coverage.

Nobody wants to discover that their child or children were injured at day care, but the situation can determine the responsible individual and the policy that will pay for the medical bills. Contact us to talk to an agent for more details about protecting your home business.

Can a homeowners insurance policy drop the policy if no one is living in home and it is on the market to be sold?

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Insurance companies can drop your insurance coverage, at any time. In most cases, you will be provided with a reason, but this is not required. Companies often drop coverage in areas that have become high risk or when the policyholder has made a large number of claims. An unoccupied property presents a valid reason for a company to drop your policy.

The insurance company’s reasoning

Each company will determine a definition of a vacant home. Most companies do have a grace period and insurers often use a 60 to 90 status to determine occupancy. Unoccupied properties present a considerable amount of risk to an insurance company.

Vacant homes are more subject to vandalism and other damages. If a fire of flood were to occur, it may take longer for the problem to be noticed, increasing the amount of damage. When a property is for dale, liability risks can also increase. People will be touring your home and any injuries will be your responsibility.

What you need to do

You do need to maintain homeowners insurance while your home is on the market. If your hold a mortgage, this is required. Even without a mortgage, you could risk losing all of your equity. Your current company may offer you a different policy, but it will likely be more expensive.

You may need to change insurance providers and you should get comparative quotes to ensure you are getting the best rate. If the rates are extremely high, you might be able to raise your deductible to lower the premium.

Keep in mind that a home can be considered vacant if it is unoccupied for over the 60 to 90 mark. If you only use the property seasonally, you should have a specific policy to cover your property. Get in touch with us so we can help you compare quotes from several insurance providers.

Will homeowners insurance cover damage to an in-ground swimming pool caused by excess ground water?

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Standard home insurance policies may or may not cover wind, hurricane damage, fire or other damages that may occur during a disaster. Swimming pools are a completely different situation. While liability and personal injury claims may be covered, in-ground swimming pool damage may or may not be covered by excess ground water damage. It is best to consult with an independent insurance agent to find out exactly what would be covered, as policy restrictions vary from state-to-state.

Being able to find out what is generally covered in a home insurance policy and obtain quotes to compare online will make the process easy and will help you find a policy within your budget. You do not want to be caught without sufficient coverage to protect your home. An independent agent will be able to help you figure out what you need, any additional coverage options that may apply, and the laws that may or may not affect your policy in your state.

The most important part of securing a home insurance policy is to guarantee the safety of your home and family. When disaster strikes, you want to be ready. Taking a few minutes to assess your options will be time well spent. Swimming pool coverage may not be standard in your town, so knowing how a policy can apply to your individual situation is key. Cross Creek Insurance can help you navigate through the online quotes and get you properly situated. It’s no fun not being properly covered, as things do happen. Protect your home and family today with a great policy that will work for you!

Does homeowners insurance cover water damage from a cracked chimney?

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A cracked chimney may cause a variety of problems when water begins to leak into your home. The problem is that your home insurance in Hope Hills, NC may or may not offer protection against the possible problems that might arise. Since the situation will dictate the options that are available, you may discover that you need additional protection on your home.

Slow Damages

Any time the damages build up over time and can be seen before it gets out of control, it is unlikely that your insurer will pay for the damages. A cracked chimney that has a slow leak that you have ignored is not the same as a sudden leak that springs up unexpectedly. Many insurers will not cover the situation because you could have prevented the damage from getting out of control. A home insurance policy is designed to address sudden and unforeseen problems.

Sudden Damages

Whenever your chimney develops a sudden leak and causes damage to your house, it may be covered under your basic policy.

Most insurers will pay for any damages that spring up suddenly because the cause of the problem is usually related to a covered situation. In some cases, insurers may not provide all of the funds you might need to make changes, so you will want to read your policy to identify any potential factors that might limit the claim. The amount that you can claim will vary based on your insurer and the policy that you purchased.

Every situation is different, so you may be covered for damages from a leaking chimney in some situations and may not be covered at other times. Contact us to speak to an agent to learn more about your options and the coverage that is available.

Am I required to report an accident to my insurance company when settling out of pocket?

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Let’s say you have a minor fender-bender that results in a few scratches or, if you’re lucky, no damage at all. You and the other party may agree to pay for the damages out of pocket and not get the insurers involved, but this may not be the right way to go for a number of reasons.

While it’s customary and even contractually required by most insurance companies, many people choose not to report minor accidents to their insurers for fear of such claims raising their premiums. Those involved in single-car accidents are most likely to simply put up with minor damage rather than file a claim, while two interested parties may agree to grin and bear it if there’s only very light damage and no injuries.

How reporting an accident affects your premiums depends on your level of fault. Those not at fault won’t see any increases in their rates, but at-fault drivers may see steep premium increases for years. It’s no wonder that many people try to forgo claims for minor or nonexistent damage. However, not reporting the incident to your insurer could land you in hot water.

For starters, the police may transmit a copy of the accident report to your insurer, which could cause steep premium increases or cancellation for failure to report. Not notifying your insurer could also put you at risk of a small claims lawsuit later on, especially if the other party develops injuries related to the accident.

No matter how minor the accident, it’s a good idea to report it to your insurance company. Get in touch with us and speak to an independent agent for expert help when it comes to the claims process and how it may affect your future car insurance rates.

What is collision and comprehensive on an auto insurance policy?

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When you visit your independent agent in Hope Hills, NC to purchase auto insurance, you have several different types of coverage that you can buy. If you are only required to carry the minimum amount of coverage mandated by North Carolina law, you may want to buy a policy with coverage for bodily injury and property damage that you are liable for causing to another driver or their property.

Liability coverage does not cover property damage to your vehicle. If you want, or are required to carry coverage on your vehicle, you will need to buy an auto insurance policy that includes both collision and comprehensive coverage. If you get into an accident, or if your car is stolen, these two types of coverage will allow you to file a damage with your auto insurance company for your loss.

Collision coverage is just like it sounds. If you get into an accident with another vehicle or hit a stationary object like a pole or a brick wall, this coverage will pay to have your car repaired. Anything other types of incidents such as theft, vandalism, or a hail storm ruining your paint job, is covered by the comprehensive portion of your policy.

It is important to note that the added coverage will add to your annual insurance premium. You will pay more if you have an expensive car rather than one that is worth less. This coverage comes with a deductible, or the amount you are responsible for paying before the insurance company will pay on a claim. You can lower your overall premium by choosing a high deductible, but that will mean you assume more financial risk should you suffer a loss.

You usually need this type of added protection if you finance a vehicle or you have a fairly new vehicle that is still worth a substantial sum of money. Even if you are not required to carry such coverage, it may still be prudent to spend a little more and add it to your auto insurance policy.

If a minor child who does not have a driver’s license is involved in a fatal accident, while driving a friend’s car, can their parents’ insurance company be sued?

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It is always tragic when a minor child is involved in a fatal accident. When that child does not have a driver’s license and is driving a car in Hope Hills, NC, it can be more difficult for grieving parents to understand. Depending on the reasons for the accident, parents may or may not be able to take the owner of the vehicle to court for wrongful death.

Cause of the Accident

In general, the cause of the accident will play a role in the legal actions that a parent can take. For example, if the teen was driving because another individual was sick or injured, then the situation may provide a good reason for that minor to be behind the wheel. On the other hand, taking a car out for fun may be nothing more than a foolish gamble.

Children with a Permit

Any time that a minor with a permit is driving, an adult should be in the front seat. If parents have given permission for their teen to drive a friend’s car while they are learning to drive, then they may not be able to make a claim for wrongful death.

Ultimately, a fatal accident is a tragedy that does not have any legal solution. Parents may not be able to make a claim of wrongful death or other charges if the teen was driving with their permission or in an emergency situation.

It is difficult to discover that a loved one has died in an accident, but it is more challenging when the individual involved was young and should not have been driving. Contact us to talk to an agent for more information about making a claim on an insurance policy.

If I’m a co-signer on a car loan for my son do I have to be listed on the insurance policy?

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A friend, family member, or your child wants to finance their first car. The only problem they’re having is an inability to qualify for a loan without a co-signer. Your credit score is more than sufficient to help them out with their problem, but you’re wondering whether you need to be on your son’s auto insurance policy when you co-sign for the car.

The main factor in whether or not you should be listed on insurance or not is whether you are considered a co-signer or a co-borrower. A co-signer is simply responsible for financial matters related to the loan. If your son fails to meet his payment obligations on the auto loan, then your co-singing makes you financially responsible for the loan. It affects both your credit and your son’s.

Some financing companies require you to be listed as a co-borrower and co-owner on the loan. When you are a co-owner, you are placed on the car’s title. Because you are listed on the car’s title, you may be held legally responsible in the event of an accident. The way to cover your liability in the event of an accident is to get listed as an additional driver on your son’s car insurance.

Another factor to consider when co-signing on a loan is whether you are prepared to take financial responsibility if your son can’t meet his payment obligations. If this occurs, you either have to make the payments yourself, or receive a negative mark on your credit report. This has a long term impact on your own ability to get financing.