The home insurance agents at the Wayne Realty & Insurance Co Inc. in the Goldsboro, NC area want homeowners to understand the importance of insurance to cover the considerable investment they have made in their beloved homes.
What Does Home Insurance Cover?
A home insurance policy will cover your home’s structure and any attached outbuildings. This can include decks and garages.
When it comes to your personal belongings, home insurance will help you replace those if your home is damaged or destroyed by a natural disaster, a fire, or an act of vandalism. Some of your personal belongings will include your clothing and toiletries, but they will also incorporate furniture and appliances that you have purchased for your home, as well as furniture.
If your home is burglarized, most home insurance policies will help you replace stolen items. A home insurance policy will also protect you from lawsuits if a visitor to your home falls and is injured or becomes injured in some other way while on your property.
You can add amendments to your home insurance policy to cover earthquakes and flooding since those are not automatically included in a home insurance policy. You can also include some other outbuildings, such as barns or sheds. You can accomplish this by speaking with a trusted home insurance agent who can assist you in creating the best policy for you and your situation.
If you owe money to a lender on the mortgage on your home, you must have a home insurance policy in place. Even if your house is paid off, you should have home insurance in case of a catastrophe.
Contact Wayne Realty & Insurance Co. Inc.
Call upon the trusted and experienced home insurance agents at the Wayne Realty & Insurance Co Inc. in the Goldsboro, NC area today to start your policy!
Being a business owner has continued to be a dream for many in the Goldsboro, NC area. When you want to build a business in this region of the state, you must evaluate all risks and mitigate them as well as you can. An excellent way to mitigate various risks is by getting a commercial policy offering the support you need. There are various reasons you will need this coverage.
Receive Financial Protection
A reason that all businesses here should have this coverage is so they can receive adequate financial protection. With commercial coverage, you will have financial support if you are named liable for damages. Further, if you lose commercial assets due to a covered risk, you will be supported to replace or repair these assets.
Comply with any Requirements
A business today is also going to need to have this coverage so they can comply with any requirements that they have. When you start and grow a business, you will have to sign various documents that will require you to have insurance. This includes loan agreements, investor contractors, and documents signed with your top vendors and clients. If you have this coverage, you will meet these requirements and can remain in good standing.
Those residing in the Goldsboro, NC area will want to know if they have selected the right insurance for their business. As there are complexities that come with choosing this type of coverage, starting your search with Wayne Realty & Insurance Co Inc. is a good option. The professionals at Wayne Realty & Insurance Co Inc. know how important this coverage is, and they will give you customized guidance to help you build your following policy.
Commercial property insurance is not a legal requirement for Goldsboro, NC business owners, but very often, a lender will require you to purchase a policy. Even when this is not the case, there are important reasons to consider opting into this protection.
Consider Where Your Inventory is Stored
If you house a fleet of machines needed to move stock or perform other tasks, these can be damaged when a storm, high winds, or water damage occurs. In addition, your building may be subjected to a fire or even an electrical surge.
In such an event, your raw materials can be obliterated, taking your ability to earn an income with them, and finished products can also be destroyed. Commercial property insurance gives you some recourse in these situations, and your Wayne Realty & Insurance Co Inc representative can answer specific questions about what is included.
Do You Have Visitors?
Depending on your business, you may have customers that enter the premises and that can be subjected to falls, hurting themselves. When this happens, you can be responsible for paying for medical expenses due to injuries and even lost wages.
There are scenarios when you can be taken to court if a reasonable outcome is not achieved. Any accidents involving your equipment can occur, and incidents of this type can be devastating to a business owner. Your reputation is also at stake, and commercial property insurance allows claims to be handled promptly and professionally.
Wayne Realty & Insurance Co Inc. Can Help
We specialize in personalizing insurance plans to meet our client’s needs, and we work with business owners in the Goldsboro, NC region. Contact us for more information by calling, stopping at our office, or visiting us on the web.
Umbrella insurance gives consumers more peace of mind. Although your home and auto insurance may cover lawsuit costs you face in many cases, these insurance policies have maximum limits. Umbrella insurance covers you if you face a liability situation where you are required to pay more than your home and auto insurance will offer.
Wayne Realty & Insurance Co Inc. is an insurance provider in Goldsboro, NC offering umbrella insurance coverage. The following are three potential financial disasters you can avoid with umbrella insurance.
High legal fees that you can’t afford
If you become embroiled in a lawsuit, you will likely have to pay a lot in legal costs to defend yourself. Fortunately, the umbrella insurance coverage will pay for your legal bills if you get involved with a lawsuit resulting from various possible liability issues.
Loss of retirement savings
Without umbrella insurance coverage, your retirement savings could be at risk. Certain types of retirement savings will not be protected from seizure if you are ordered to pay damages due to a lawsuit. The loss of your retirement savings can delay a comfortable retirement or make you less financially stable once you finally can retire.
Loss of your assets to cover damages you have to pay to another party
You’ve worked hard to accumulate wealth and assets throughout your life. A liability lawsuit can set you back significantly by leading to a large-scale loss of assets. Umbrella insurance coverage will protect your assets even if you face a costly lawsuit.
Let us assist you with finding umbrella insurance coverage. Consumers in Goldsboro, NC can protect their finances and avoid financial disasters with umbrella insurance from Wayne Realty & Insurance Co Inc. Contact us for an umbrella insurance policy quote.
Here at Wayne Realty & Insurance Co Inc, serving the greater Goldsboro, NC area, we get a lot of questions about property insurance. Property insurance is not a term that many people are familiar with. However, property insurance is a lot like home insurance. Once people hear this, they often wonder how property insurance differs from home insurance. Read on to learn more about some of these differences.
How Does Property Insurance Differ From Homeowners Insurance?
Homeowners insurance is designed to protect your home. In some cases, it may protect other buildings on a property, such as a garage or a shed, but it does not always protect all buildings on a property. On the other hand, property insurance is designed to protect all buildings on a piece of property. This may include farms that have storage sheds, barns, silos, and a farmhouse or may consist of homes that have pool homes or mother-in-law homes on the same property.
What Types of Buildings Can Be Insured By Property Insurance?
Property insurance is designed to cover multiple buildings that are on one property. Many different types of buildings can be covered, including homes, cabins, pool homes, sheds, storage buildings, barns, and garages. If a structure is built to code and has the proper building permits, it can be covered with a property insurance policy.
As a property or homeowner, you need to ensure that you have the right insurance at all times to protect the investment you have made in land and buildings on that land. At Wayne Realty & Insurance Co Inc, serving the greater Goldsboro, NC area, our team of insurance agents work hard to answer questions and help clients find the right insurance product for their needs. Reach out to us today to discuss your insurance needs and how we can help.
You may feel that getting the very least amount of auto insurance you can legally get away with is a good idea. It might be for you, but there is no guarantee that you won’t be sorry if you have an accident. At Wayne Realty & Insurance Co Inc. in Goldsboro, NC, we ask the right questions to determine the right auto insurance for each of our customers.
In North Carolina, basic auto insurance is liability only. What you must carry is 30/60/25. That means you must have $30,000 in bodily injury coverage for one person hurt in an accident and $60,000 for all injuries related to that accident. You also must have $25,000 in coverage for damage you may do to a property.
This is enough liability coverage if you don’t have a lot of personal wealth. If you have assets, you may want to consider a higher liability level to protect yourself. Another consideration is whether or not you have a car loan or are leasing your vehicle. You will be required to have collision and comprehensive coverage to protect the car, which is not yours.
Once you pay off your car loan, you’re not required to have full coverage, but is that a good choice for you? Maybe not. If, like most Americans, you need a vehicle to drive to work, go shopping, and do the activities that are part of our daily lives. If you are responsible for an accident or your vehicle is the victim of a hit and run, would you have the ready funds to make repairs? If the answer is no, you may want to have full coverage.
Contact Wayne Realty & Insurance Co Inc. in Goldsboro, NC to discuss your auto insurance needs.
Life isn’t always predictable. You could be in the best of health today and experience a significant health event tomorrow. That’s why it’s essential to have health insurance that will cover you in an emergency. If you live in Goldsboro, NC, Wayne Realty & Insurance Co Inc. will help you compare different plans, including a catastrophic policy.
What Is a Catastrophic Health Insurance Plan?
A catastrophic health insurance plan is a type of health insurance that provides coverage for medical expenses related to accidents or illnesses that are considered life-threatening. Catastrophic health insurance plans typically have high deductibles. You’d have to pay for most of your medical expenses before your insurance would kick in.
If you are considering a catastrophic health insurance plan, there are a few things to keep in mind:
- Ensure your plan meets the minimum requirements for coverage under the Affordable Care Act (ACA).
- Decide how much coverage you need and whether you want additional benefits such as prescription drugs or mental health coverage.
- Compare the costs of different plans to find one that fits your budget.
- Review the plan’s terms and conditions to ensure you understand what is covered and what is not.
Catastrophic health insurance plans can help care for high medical costs if you experience a significant health crisis. However, short-term health insurance might be an option if you’re healthy and don’t think you need major medical coverage. But it’s good to be safe than sorry.
Wayne Realty & Insurance Co Inc. can help you weigh your options and find the perfect health insurance plan for you and your family. If you’re in Goldsboro, NC, give us a call today!
Owning a business has risks, and there is not much you can do except try to protect yourself with commercial insurance. Each company has its own set of risks, and having an insurance agent who understands your type of business is essential. Wayne Realty & Insurance Co Inc. in Goldsboro, NC has a team of experts who can help you to choose the correct elements for your commercial policy to maximize your protection.
Should I have commercial property insurance for my business if I don’t own the building?
Commercial property insurance covers a lot more than just the building. It will cover the building if you own it, but if you are a renter, it will cover everything you use to do business. It covers machinery, office equipment, records, inventory, raw materials, display units, and tools. Whatever your particular business uses.
Do I need workers’ compensation insurance in North Carolina?
If you are an employer with three or more full or part-time employees in North Carolina, you are required to protect your employees with workers’ compensation insurance.
Is commercial insurance necessary for home businesses?
Yes, it is. You’re mistaken if you think your home property insurance will be adequate for all your business property. Your home liability coverage will not protect you if someone is injured while visiting you on business. You also can’t use your personal vehicle to do business; it needs a commercial auto policy.
Is business interruption insurance worth it?
It can mean the difference between surviving a hazard and closing your business. But, you need to read the exclusions, and what types of hazards are covered to determine if the coverage will be of value to you.
Contact Wayne Realty & Insurance Co Inc. in Goldsboro, NC to help choose the perfect coverage for your business.
Umbrella insurance is arguably the most important type of personal liability coverage that you can get in Goldsboro, NC. Why do you need to pay for another liability insurance coverage yet already have regular liability coverage? Umbrella insurance covers liability that exceeds your homeowners, renters, auto insurance coverage, or liability that isn’t covered by these policies. Here are reasons you need umbrella insurance:
1. If You Live With Inexperienced Drivers in Your House
Handing your car keys to an experienced driver such as a teenager requires a lot of faith. This is because their inexperience can result in nasty accidents with many injuries to persons and a lot of property damage that exceeds your auto insurance policy limit. Umbrella insurance will pay for the above-the-policy limit costs of medical bills and property damage that you would otherwise pay out of pocket.
2. If You Have High-Value Assets or Significant Savings
The more high-value assets like property and significant savings you have, the more you are bound to lose in case of a lawsuit. Substantial savings and high-value assets make you a target of nefarious lawsuits from unscrupulous persons. Getting umbrella insurance in such a situation means that your high-value assets and savings are protected from being used to settle a lawsuit. Wayne Realty & Insurance Co Inc. usually advise our clients to get umbrella insurance to protect their wealth.
3. If You Keep Certain Dog Breeds
Although we like to keep dogs as pets, they still have their natural predator instinct. Certain dog breeds like Pit Bull, German Shepard, and Rottweiler are highly aggressive and can viciously attack your neighbors and even passers-by and injure them badly. Umbrella insurance will cover such liability as it isn’t covered under the homeowners’ policy.
Contact Wayne Realty & Insurance Co Inc. for the best umbrella insurance deal in Goldsboro, NC.
Wayne Realty & Insurance Co Inc. is proud to serve the greater Goldsboro, NC area business community. If you have questions or concerns about insurance for your company, let’s set up a meeting today. We look forward to working with you!
What you need to know about commercial general liability insurance (CGL)
There are different levels of CGL that can help your company protect itself from liability. For example, if you opt for Premises Coverage, you are protected if someone is injured or damage is caused due to business operations that occur at your location. It can also be expanded to include damage caused by off-site operations or a product or service at a different location.
Other entities and individuals can also be added to the policy as a named insured. Excess liability protection comes into play if a claim exceeds the policy level of the primary CGL policy. This can also help when the primary policy does not provide certain coverage, such as wrongful termination cases.
As you can see from this brief description, having a CGL is an effective way to protect your firm from liability risk. If your company is growing, it is also likely that the amount of risk exposure it faces is also increasing. Having a CGL policy may not have been something you considered when your company started out, but it may be necessary now that your firm is more established.
Let’s work together to protect your company!
Goldsboro, NC area business owners count on Wayne Realty & Insurance Co Inc. for their insurance needs. If you need to add a CGL policy to your current insurance portfolio, call us today. We look forward to seeing you soon.