Types of Commercial Insurance Your Business May Need

Owning a business means taking care of it in several ways. One way is to have enough insurance to protect the company and yourself. There are many types of commercial insurance that you may need, depending on the details of your specific business. When you need commercial insurance for your business, you can call us at Wayne Realty & Insurance Co. Inc. in Goldsboro, NC.

Cyber Insurance

If you have an online system that uses the internet, you may need to have cyber insurance. This offers you different types of coverage, such as paying for the costs of data breaches and other cyber mishaps. People with online aspects of their businesses often get this type of insurance. 

Workers’ Compensation Insurance

This is a necessary type of commercial insurance if you have any number of employees. It’s essential to have this to pay for any accidents that leave workers injured. Any accidents that happen while employees are working could leave them with injuries, and your business needs to be covered so that the medical bills and other expenses can be paid for. It’s never a good idea to go without this coverage. 

Commercial Auto Insurance

This is commercial insurance for any vehicles that your business owns. If you don’t get a commercial policy for it, you likely have a policy that won’t pay out in the event of an accident. This is like being completely uninsured. Instead, ensure a commercial policy is in place as soon as your business purchases the vehicles. 

Get Your Commercial Coverage

It’s important to have the right insurance policies for your business. To find out which type you need, contact Wayne Realty & Insurance Co. Inc. in Goldsboro, NC.

Do you need to have commercial insurance for your home-based business

Thousands of small businesses exist in the US, and some of them are home-based. Whether your business is home-based or not, you must protect it. One of the best ways to do it is to have commercial insurance. However, here is a question: do home-based business owners need commercial insurance?

The short answer is yes, you should have insurance to protect your home business. However, the choice of insurance depends on the type of business you have. For example, if you own childcare business insurance, it will be different from the insurance of your friend running an accounting business. 

Depending on the features of your home business, you need insurance that will protect you against property loss, fire, theft, and other perils. You should also have liability protection. It helps if someone, for example, is injured while visiting your business property. It is crucial to point out that your home insurance may provide some protection, but it might not be sufficient. 

Also, even if you operate your business from home, you may have employees. If you do, you should also get workers’ compensation insurance. It provides wage replacement and medical benefits to injured employees who cannot continue working.

Wayne Realty & Insurance Co Inc. – Serving Clients in Goldsboro, NC 

If you are considering starting a home-based business or already have one, you should consider getting proper insurance. At Wayne Realty & Insurance Co Inc., we are ready to answer all your questions and help you find the insurance you need. Feel free to reach out to us today to have insurance tomorrow. 

Umbrella Insurance: An Essential for Goldsboro Homeowners?

While an umbrella will offer protection from the elements, umbrella insurance plays an even larger role in the lives of Goldsboro, NC residents regarding more worrisome legal matters. At Wayne Realty & Insurance Co. Inc., we pride ourselves on aligning our clients with the best umbrella insurance policies for their needs. Before starting, dispelling some of the most common umbrella insurance myths is important. The following guide will serve as a helpful primer.

Coverage Won’t Be Sufficient

This is, in fact, completely untrue. The coverage an umbrella insurance policy provides is more than sufficient for any needs that may arise. There is no reason to believe you will remain exposed to legal issues that can arise unexpectedly.

Only the Wealthy Require Such Policies

This is also patently false. In a world where lawsuits can occur in many contexts, there is no reason for any potential client to go without umbrella insurance. Accidents and incidents can happen at any time, so having the necessary protection in place before a lawsuit can be filed will provide the policyholder with the necessary peace of mind.

My Current Policy Is Enough

This is an all too common mistake. No, your current auto or home insurance policy will not provide the coverage you need if a lawsuit is filed. When injuries or accidents occur that you are potentially liable for, these policies will not be able to be utilized. A separate umbrella insurance policy is imperative.

With additional questions or concerns, residents of the Goldsboro, NC region are welcome to contact our experienced agents or stop by as soon as possible. Wayne Realty & Insurance Co. Inc. is here to ensure a hassle-free process and provide clients with the information they need promptly and efficiently.

What Does Group Health Insurance Cover?

Our agents at the Wayne Realty & Insurance Co. Inc., serving the Goldsboro, NC area, want you to know that group health insurance is created to provide a group of people with health insurance coverage. This group of people can often be the employees or members of a company or organization. This type of insurance offers an array of different medical benefits and services to promote the health and well-being of the insured on the plan. Most group health insurance policies cover essential healthcare services for each person on the plan, such as doctor visits, hospital stays, prescription medications, preventive care, and specialist consultations.

What Does Group Health Insurance Cover?

The specific coverage options can vary from plan to plan and are usually decided upon by the employer or organization that is implementing the plan.

Primary Medical Care

This includes visits to general practitioners for routine check-ups, illnesses, and minor injuries.


This part of the group insurance plans covers inpatient services, such as surgeries, treatments, and overnight stays in a hospital. It can also include outpatient services, including more minor surgeries and procedures.

Prescription Drugs

Many plans offer coverage for prescribed medications, though the extent of coverage and amount of co-pays can vary.

Specialist Care

Consultations and treatments provided by specialists, such as cardiologists, dermatologists, or orthopedists, are generally covered on this part of the group health insurance plan.

Emergency Care

Emergency care includes unexpected medical emergencies, even ambulance services if needed, and emergency room visits.

Preventive Services

Insurance plans commonly cover preventive measures, such as vaccinations, screenings, and wellness programs to promote long-term health.

Mental Health Services

Many group health insurance plans encompass mental health treatments, therapy sessions, and counseling services. Some plans also cover substance abuse and addiction treatments.

Maternity and Newborn Care

Many plans cover prenatal care, childbirth, and postnatal services.

Lab Tests and Diagnostic Services

Coverage for essential medical tests, imaging, and laboratory work is usually part of a group insurance health plan.

Rehabilitative Services

These types of services can include physical therapy, occupational therapy, and other forms of rehabilitation.

Contact Wayne Realty & Insurance Co Inc.

If you are in need of group health insurance or other types of insurance options, contact our experienced and trustworthy agents at the Wayne Realty & Insurance Co Inc. serving the Goldsboro, NC area today!

Understanding Commercial Vehicle Insurance

Small business owners sometimes do not protect themselves with commercial vehicle insurance, relying instead on their personal insurance coverage. However, this can be a critical mistake if you or an employee has an accident while driving for a work-related purpose. To avoid this mistake, allow the Wayne Realty & Insurance Co Inc. team, serving Goldsboro, NC, to create a commercial vehicle insurance plan that meets your business’s needs.

Commercial Versus Personal Vehicle Insurance

North Carolina has specific requirements for commercial truck insurance, but we will not cover them here. Instead, we’ll focus on the insurance needs for light vehicles.

Commercial vehicle insurance policies include many of the same components as those for personal vehicles, including bodily injury and property damage liability, personal injury and medical payments, and other elements. However, while they appear similar on the surface, personal insurance policies do not cover claims if you or an employee has an accident while driving a vehicle for a business purpose. Commercial vehicle insurance policies also carry high liability limits to protect your business should the unforeseen occur.

This situation makes it critical to understand that only a commercial vehicle policy will cover vehicles:

  • Owned by the company or driven for work purposes by you or an employee
  • That transport goods, tools, or people for work

If your company’s vehicle usage matches those situations, you need commercial vehicle insurance to protect you and your business correctly.

Working with Wayne Realty & Insurance Co Inc.

Wayne Realty & Insurance Co Inc. proudly serves Goldsboro, NC’s personal and business communities. Our commercial insurance experience means we can structure policies to protect your business and livelihood against unforeseen events. Call or stop in today to discuss your commercial insurance needs and options.

What is not covered under an umbrella insurance policy?

Liability insurance offers financial protection for you and your family should a significant event – like a legal matter caused by an automobile accident, occur. However, what happens when the damages exceed your auto insurance policy’s limits? The insurance professionals at Wayne Realty & Insurance Co Inc., which serves the greater Goldsboro, NC area, can help provide additional liability protection with an umbrella insurance policy.

What is Umbrella Insurance?

When used in an insurance context, the term umbrella describes a type of policy that offers coverage to the insured on a broader basis than their existing underlying policies. However, umbrella insurance (or excess liability insurance) does not provide protection for all events and situations.

What is Not Covered By Umbrella Insurance?

An insurer will list ineligible exposures, those events and circumstances that would preclude the insured from coverage –

  • Your injuries.
  • Damage to personal belongings.
  • Intentional/criminal actions or anything detailed in the underlying policy’s exclusions.
  • Certain property damage or injuries, for example, an event with an uncovered dog breed.
  • Damage/injuries to others for which your business is responsible, you will need a separate and distinct business umbrella policy. For instance, a home daycare would be covered under the business umbrella policy, not the homeowner’s insurance coverage.

In other words, an umbrella insurance policy will not reimburse you for your own costs as it is designed to cover expenses if someone sues you for damages and the event that caused the damage is determined to be your fault.  

Contact a Leading Insurance Company in Goldsboro, NC Today

For additional information regarding what is and is not covered by an umbrella policy, contact Wayne Realty & Insurance Co Inc. at 919-735-1341 or online

The Role of Group Health Insurance in Employee Retention in Goldsboro, NC

In today’s competitive job market, attracting and retaining top talent is a business priority. One effective way to accomplish this is by offering a comprehensive group health insurance plan. Wayne Realty & Insurance Co Inc. specializes in helping local companies to create group health insurance solutions tailored to their unique needs, boosting employee satisfaction and retention.

The Benefits of Offering Group Health Insurance

Group health insurance plays a significant role in fostering a positive work environment and improving employee retention. Some key benefits of providing such coverage include:

  1. Enhanced Employee Satisfaction: A comprehensive group health insurance plan shows employees that you value their well-being and are committed to their health. This can lead to increased satisfaction, loyalty, and productivity.

  2. Attracting Top Talent: Quality health benefits can help your business stand out from the competition, drawing in skilled professionals seeking a supportive work environment.

  3. Tax Advantages: Businesses in Goldsboro, NC, may qualify for tax credits and deductions when providing group health insurance, helping to offset the cost of offering these benefits.

Creating the right group health insurance plan for your business can be complex. We are here to guide you through the process, providing expertise and personalized service to ensure your employees receive the necessary coverage.

We’ll work with you to identify the best options for your business, considering factors such as company size, budget, and employee demographics. Our goal is to help you design a plan that meets the needs of your workforce while aligning with your business objectives.

Invest in your employees’ well-being and improve retention with a comprehensive group health insurance plan. Contact Wayne Realty & Insurance Co Inc. today to explore your options and create a customized solution for your Goldsboro, NC business.

Top Five Claims Covered by General Liability Insurance

Owning a business comes with an assortment of responsibilities and risks. It’s essential to understand your company’s unique needs and invest in a general liability insurance policy that gives you the right amount of protection. Before you find yourself in a situation where you may face financial losses, take a look at a list we compiled at Wayne Realty & Insurance Co Inc. in Goldsboro, NC of the top five types of claims.

1. Bodily Injury

Accidents come out of nowhere. That’s what makes them accidents. Unfortunately, when they do, your business could be held responsible. General liability insurance provides protection for bodily injuries sustained by third parties on your property or because of something your business operations caused. The coverage includes medical expenses, lost wages, and even legal defense costs if a lawsuit arises.

2. Property Damage

Over the years, while running your business, you may inadvertently cause damage to a third party’s property. General liability insurance covers the costs of repairing or replacing the damaged items. It ensures that you don’t have to pay cash out of pocket or from the company’s revenue.

3. Personal and Advertising Injury

Claims arising from defamation, invasion of privacy, copyright infringement, or false advertising fall under the personal and advertising injury category. General liability insurance helps protect your business from these kinds of claims by handling all the legal fees and any settlements or judgments that may come your way.

4. Product Liability

If your business manufactures, distributes, or sells products, you might be held accountable for injuries or damages caused by them. General liability insurance provides protection against claims resulting from product defects or failures so you can operate with greater peace of mind.

5. Completed Operations

Once you have completed a project or service, you might still face various liability claims. General liability insurance takes care of these claims related to any work that’s been done already, so you can relax after the job is finished.

Secure Your Business’s Future & Call Today!

Don’t let unforeseen incidents threaten the success of your company. Consult with an insurance agent at Wayne Realty & Insurance Co. Inc. in Goldsboro, NC, to discuss your general liability insurance demands. Our team will provide you with the information you need to make the best decision for you, your business, and your future.

Is Property Insurance Meant for Both Personal as Well As Commercial Property?

Disaster strikes without warning. It strikes everywhere. For instance, many years ago, a plane emergency landed on I-16 just outside Savannah, GA. A car or a bus could flip over in the green area surrounding a commercial office building. In these cases, you want Wayne Realty & Insurance Co Inc. in Goldsboro, NC, to have your back. Here’s why.

Is Property Insurance Meant for Both Personal as Well as Commercial Property?

Property is property, whether you own, rent, or lease it. The rare business, for example, owns the structure in which it works. That leaves an owner needing insurance on his commercial property. 

What’s meant by "property" is personal North Carolina land, rented or leased, upon which barns, sheds protecting machinery, silos, detached garages, pool houses, and other useful buildings rest. Vandalism, storms, or a vehicle could destroy these. 

Is This Type of Insurance Different from Flood or Disaster Insurance?

Yes. If a house had flood insurance, for example, no other structure on the property would be covered, such as sheds. Property insurance protects various buildings from the vagaries of weather, fire, and other kinds of trouble.

What Does Property Insurance Not Handle?

Typically excluded from property insurance policies are:

    • Money, bonds, bills, food stamps

    • Pets and animals that aren’t stock

    • Trucks, trailers, watercraft, and aircraft

    • North Carolina docks and piers

    • Hay outside the buildings and crops

    • Excavating or grading equipment

Final Thoughts

Property insurance isn’t about the grass but the structures on the grass. Not every insurance policy covers those, but Wayne Realty & Insurance Co Inc. in Goldsboro, NC policies do. Planes have been known to emergency land on wide and empty properties. Ensure yours is covered by dropping in or calling to learn more about it.

Do I need commercial insurance for my North Carolina business?

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.