Does Commercial Insurance Include Business Interruption?

It’s vital that you protect your business in Goldsboro, NC from disasters and liability. There’s nothing worse than a disaster happening that causes you to close your business for a few days, weeks, or even longer. If you have to vacate the premises, it’s identified as business interruption.

How does this help my business?

Commercial insurance varies dramatically. Wayne Realty & Insurance Co., Inc. is here to help you with your commercial insurance. Since not all policies are the same, we’ll make the comparisons for you. If you need more than what’s included, we can identify the necessary riders.

The average commercial insurance policy focuses on liability for you, your employees, and your customers that could enter your property. However, you can choose to add business interruption insurance to your policy.

With coverage for business interruption, you can be compensated for lost income when you have to vacate the property. This means that if there’s a flood, a fire, or something else that is preventing you from opening your doors, you would be covered. It can make it easier for you to stay financially afloat during a major disaster. Without the coverage, it could mean having to close your doors, possibly forever.

It’s always important to review what a policy does and doesn’t cover. You never want to make assumptions about what is included as it could end up costing you your business. If a disaster strikes, you want to be able to file a claim with confidence knowing that the insurance company will take care of you. The only thing you should pay out of pocket for is the deductible on your policy.

Contact one of our independent insurance agents at Wayne Realty & Insurance Co., Inc. to learn more about commercial insurance. We’ll show you how to get a policy that provides you with all of the coverage that your business needs in Goldsboro, NC.


Do You Really Understand Umbrella Insurance?

You may have heard of umbrella insurance, but you may be unsure of exactly what it is. Here are a few basic points to get you started from Wayne Realty & Insurance Co. Inc. in Goldsboro, NC.

What is Umbrella Insurance?

Umbrella insurance is an add on to your current insurance policies. This type of add on is used in the events that you are held liable for something in amounts which exceed your current coverage. Umbrella insurance can cover any liability whether it deals with automobiles, homes, property, or businesses. 

Why Would I Need Umbrella Insurance?

Although most insurance policies attempt to plan for liabilities in a way that the customer would not need to spend money out of pocket, there are instances in which the amounts of the liabilities exceed the amount of the coverage. This happens in instances of severe auto accidents, severe accidents involving your home or property, or severe incidents involving your business. 

Umbrella insurance is most beneficial to individuals who are at risk of liability claims. This mostly includes individuals who have a large property, especially property on which events take place or in which large groups often gather, individuals who host gatherings, have pools, trampolines, or other recreational items that can cause injury or individuals who provide products or services to the public. 

It is important to note that even individuals who do not fall into these categories could benefit from umbrella insurance because any type of accident covered by your homeowner’s policy or auto policy could exceed the coverage amounts. When this happens, you would be responsible for the difference out of your own pocket. This could mean financial devastation for your family. 

If you would like to learn more about umbrella insurance, please contact one of our friendly staff at Wayne Realty & Insurance Co. Inc., serving Goldsboro, NC, and surrounding areas. 

Improve Your Employee Benefits Package With Group Health Insurance

Are you a business owner in the Goldsboro, NC area? Are you looking for ways to enhance your employee benefits package? Purchasing group health insurance is a way to attract and retain quality employees. Health insurance policies generally cover medical costs such as hospital visits and doctor visits. Prescription coverage is also a common incentive for health insurance. If you are interested in such a policy, Wayne Realty & Insurance Co., Inc. has a policy for you.

Attract Quality Employees

In today’s job market, businesses within all industries are competing to attract quality employees. Businesses are only as successful as their employees, and recruiting quality talent requires an investment. These employees look beyond salary requirements and seek out benefits packages. With healthcare being one of the top benefits sought by potential employees, this is an important benefit to offer. Show potential employees that you plan to invest in them and their families by offering more than a handsome salary.

Retaining These Employees

Maybe your business already employees those that you find to be invaluable and would like to keep. Unfortunately, not offering a competitive benefits package can have these employees on a job search for a similar position with a group health insurance option. Staying competitive in your industry and offering this benefit can keep them with your company and not seeking other employment. Looking for quality employees can be more of a cost to your business than the investment of health insurance. 

Get Your Policy & Keep Your Best Employees Today!

If you are seeking a quality group health insurance policy for your employees, look no further than Wayne Realty & Insurance Co., Inc. Proudly serving the Goldsboro, NC area, our agents will help you develop the best policy for your employees and your business. Contact one of our agents today for a consultation. 

What is Commercial General Liability Insurance?

Owning a business can be both exciting and difficult and can cause many issues if you do not have the right types and amounts of coverage. Knowing what you need to have in order to keep your business covered is a must, and the helpful agents of Wayne Realty & Insurance Co., Inc. in the Goldsboro, NC area can help.

Knowing what type of coverage you need for your business can be difficult, a great place to start however is with commercial general liability coverage. Knowing what this coverage is can help you determine if you need more coverage on top of what is considered to be a general liability. Commercial General Liability Insurance is coverage that protects businesses and business owners from things like the bodily injury of employees and patrons, property damage, damage to your building, theft, and personal injury. These coverages can vary, and you can add more or take coverage away until you find the right balance for your business.

If you are looking to add commercial general liability insurance to your business, it is always helpful to speak with an agent to see just what type of coverage you can buy and what type of coverage you may need. Individual businesses require different types of coverage and may lead to a very customized policy. You should take the time to make sure that your coverage is as customized and specific to your business and the individual needs of your business as you can. This is going to help you make sure that you are going to be fully covered and that your business is protected from all eventualities.

For those in the Goldsboro, NC area, the helpful agents with Wayne Realty & Insurance Co., Inc. can help.

Most common property insurance claims in North Carolina

As a homeowner in the Goldsboro, NC area, it is imperative that you purchase a comprehensive property insurance policy that adequately protects you in the event of property damage. When considering a property insurance policy, one often thinks about significant event claims, such as a tornado, but it is also essential to make sure you are covered for the most common type of claims in North Carolina. A specialist at Wayne Realty & Insurance Co., Inc. would be happy to meet with you to discuss and make sure your policy has coverage for these types of claims.

On the top of the list is property damage caused by wind. Wind can be a destructive force, so you need to make sure you have coverage to help repair damage caused from wind such as a replacing the roof or damage from a fallen tree.

Water damage also tops the list of most common claims; however, water damage is not always caused by rising water. Some of the most common and most expensive water damage claims often come in the winter from bursting pipes.

Although the chance of a person being struck by lightning is very low, property damage caused by lighting is another top claim made under property insurance policies. Lighting strikes can cause much more damage than causing a tree to fall on your home. When lightning strikes a home, it can cause a power surge which can lead to severe damage to your electrical systems.

Fire is also on the top of the list for property insurance claims. Fire not only destroys property but the smoke damage caused as a result can become extremely difficult and costly to repair.

If you are a homeowner in the Goldsboro, NC area, please reach out to an insurance specialist at Wayne Realty & Insurance Co., Inc to review your current property policy to make sure you are appropriately covered for the most common loses.


3 Reasons to Buy Commercial Insurance in Goldsboro, NC

Do you own a business in Goldsboro, NC?

If so, then you need to protect this asset from anything that could happen in the event of theft or disaster. To do this, you need commercial insurance from a trusted insurance company to handle any bumps that occur down the road. While most events cannot be anticipated (and the reason why companies need insurance in the first place), there are some common reasons that business owners opt for commercial insurance to protect their business. Read on to learn about three of these reasons here:

1.  Protection from a Lawsuit

A business can be sued for many different reasons. For example, if you own a restaurant and someone gets food poisoning, they could sue you. If you own a retail shop and someone slips and falls on the floor resulting in injury, they could sue you. If you own a delivery business and one of your drivers is involved in an accident that was his fault, this could lead to a lawsuit. With commercial insurance, however, you are protected in the event your business is sued.

2. Inventory Protection

If your business has a large amount of inventory, you will want to protect it. If something were to happen, such as a robbery, and all your inventory is lost, this could leave you bankrupt. However, by acquiring commercial insurance in Goldsboro, NC, you can rest assured your inventory is protected.

3.  Employee Protection

If your business has employees, you’ll want to protect them, as well. Injuries can happen on the job, and with commercial insurance, both your employees and your business is protected. 

At Wayne Realty & Insurance Co., Inc., we serve the Goldsboro, NC community by helping your business find a reliable commercial insurance policy for any situation. To learn more about protecting your business, contact the team at Wayne Realty & Insurance Co., Inc. today.

3 ways that umbrella insurance can help you

Umbrella insurance is often viewed as an option instead of a necessity. Some indemnity policyholders believe that their standard assurance plans are enough to get them through any rough spot in life. In actuality, though, the average assurance policyholder is under-insured and only learns of his situation when tragedy strikes.

Imagine relying on your homeowner’s insurance plan to pay for your destroyed laptop only to learn that your policy does not cover flooding in the patio area. The financial burden that comes with rejected claims in Goldsboro, NC is a thing of the past for those who have the added protection of an umbrella plan. The experts at Wayne Realty & Insurance Co., Inc. can tell you more about this indemnity option. Read on to get a quick synopsis!

What is umbrella insurance?

An umbrella insurance plan is one that covers events that your standard indemnity plan leaves out. Those with automobiles and homes find umbrella plans especially helpful in instances where the policy limits of their standard assurance contracts would lead to financial losses. It is when the terms of your traditional insurance policy are not enough that an umbrella insurance plan becomes a life-saver.

Three instances where an umbrella insurance policy would help

The first instance where an umbrella insurance plan would be keen is when your dog escapes the backyard and bites the neighbor’s kids. Vicious dog attacks cost homeowners upwards of $600 million in 2016, and few homeowner’s insurance policies covered the attacks. You are stuck to pay medical expenses as well as other fees strictly out-of-pocket without an umbrella insurance plan.

Another area where the added assurance policy helps is with kids. You, as a parent, are legally responsible for the actions of your children. This means that the financial cost of your son injuring one of his classmates in a fight falls on your shoulders. Wouldn’t it be nice to have an insurance plan that pays for medical bills so that you do not have to rearrange your already tight budget? Umbrella Insurance is your lifeline in Goldsboro, NC.

Many people invest in an umbrella plan in addition to carrying homeowner’s insurance because of the many things that can go wrong with property ownership. Inclement weather during the winter months can leave your roof compromised to the extent of the residence being uninhabitable. An umbrella insurance plan can ensure that you have adequate funds for temporary relocation.

Wayne Realty & Insurance Co., Inc. understands the reality of the unexpected occurring at the most inopportune time. Let us help you find the umbrella insurance policy that works best for your situation.

3 Things You Need to Know About Group Health Insurance

If you don’t currently have health insurance coverage and you are looking for a policy, it can be helpful to consider the benefits of investing in a group health insurance plan. Here at Wayne Realty & Insurance Co., Inc. serving the Goldsboro, NC area, we would like to discuss three of the very best reasons you need to think about investing in group health insurance. 

You get lots of help from coworkers

When you invest in a group health plan offered by your employer, you can rest easy knowing you will be able to turn to your coworkers for advice. Take for example that you are looking for a pediatrician that is in your network. You can simply ask your coworkers who they recommend, and they will already have a good idea of which pediatricians in your area are covered by the group health plan. 

Your premium payments are tax deductible

Did you know that the money you invest in a group health insurance plan can be deducted on your taxes? That’s right, so not only are you getting to rest easy at night knowing you have good health coverage, but you can also rest assured your tax liability at the end of the year is going to be lowered thanks to being able to deduct the monthly premium off of your taxes. 

Premiums are deducted from your wage before taxes

Furthermore, your monthly premium for a group health plan is deducted from your paycheck before taxes are taken out, meaning you have less amount of money to pay taxes on throughout the year. It’s win-win from a tax standpoint no matter the angle you look at it from. 

To learn more about group health insurance, please contact Wayne Realty & Insurance Co., Inc. serving the Goldsboro, NC area today. 

3 Reasons Your Beauty Salon Needs Commercial Insurance

If you own a beauty salon in Goldsboro, NC, your business may benefit from commercial insurance. Beauty salons, just like other businesses, need to be protected from losses. Wayne Realty & Insurance Co., Inc. can help you find the right insurance coverage for your beauty salon.

The following are some insurance options we offer:

Business Interruption Insurance

This insurance covers financial loss due to business interruption caused by covered risks. In case of a disaster such as a fire, your beauty salon may not be able to continue its operations. You will, therefore, be unable to pay your employees. Business interruption insurance helps you cover such expense by paying you the actual loss of income while your beauty salon is being repaired or rebuilt.

Professional Liability Insurance

With beauty products, many things can go wrong. You may accidentally use the wrong product on a client or use chemicals that are too harsh. The most obvious way to deal with that would be to try and correct your mistakes. However, some clients may proceed to sue your business for negligence. Professional liability insurance pays for legal fees that are caused by professional errors.

Business Property Insurance

It is a good idea to keep your business property covered. Business property insurance protects the physical assets of your beauty salon against risks such as fires, theft, vandalism, and storms. It is one of the most important business insurance options. The insured property may include your business inventory, computers, furniture, fences, outside signs, and business equipment.

At Wayne Realty & Insurance Co., Inc. in Goldsboro, NC, we offer commercial insurance policies among a variety of coverage options. Visit our office to discuss a quote or contact us at 919-735-1341.

What is Property Insurance?

There are thousands of different insurance types and policies that you can choose from and each covers a different type of property or item. Much like home owner’s insurance, property insurance policies are put into place to protect the property of those that hold the policy. Property insurance generally covers a particular structure as well as its contents. For those in the Goldsboro, NC area, the agents with Wayne Realty & Insurance Co., Inc. can help you to find the right property insurance policy.

Property insurance, much like renters insurance or homeowner’s insurance, is in place to protect both the structure as well as the contents of that structure. This type of insurance covers things like damage and theft to the property that is contained in the structure as well as damage to the structure itself. Property insurance is more a category than a policy type and can be anything from homeowners insurance to flood or earthquake insurance depending on how you put it together and how you label the overall policies.

This type of insurance is beneficial to all that own property as it does help to protect your investment as well as any possessions that you may have inside any structure. For those that are thinking about taking out this type of insurance, it is always beneficial and can help you to protect your property from theft, damage, and much more. If you have a typical homeowner’s policy, you may not need an expanded property insurance policy, but you can certainly take one out as needed or amend your existing insurance policy.

For those in the Goldsboro, NC area, the agents with Wayne Realty & Insurance Co., Inc. can help you to find the perfect property insurance policy for you and your particular needs. Reach out to our office for more information.