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.

 

Home Insurance and Alarm Systems Provide Total Protection

Are you looking for additional ways to protect your home in the greater Goldsboro, NC area?

The team at Wayne Realty & Insurance Co., Inc. are here to help you find the peace of mind that comes with knowing that you, your family, and your home are fully protected! A top-rated alarm system can protect your family and also have a positive effect on your homeowner’s policy. Consumers who opt for the full protection of a state of the art alarm system as well as the appropriate coverage provided by a comprehensive home insurance policy, have a lot less to worry about when keeping their families safe!

Why You Need an Alarm System

Today’s alarm systems allow you to monitor your home remotely, whether you are at work or on an extended vacation. These systems also protect you and your family from unseen dangers like carbon monoxide and smoke. If you want to sleep soundly, having an alarm system in addition to your home insurance policy will do the trick! In the unfortunate event that there is a fire or burglary at your home and you are unable to call for help, your alarm system can notify the proper authorities for you. Cameras, motion detectors, sensors, and protection from smoke, fire, and carbon monoxide are included in today’s most basic systems which can even be self-installed. Don’t let your family be at risk to a home break-in or other disaster that can be prevented by an alarm system. And in the event that the unspeakable does happen, your insurance agent will be by your side throughout the claims process.

Interested in learning more about your home insurance options in the greater Goldsboro, NC area? Contact Wayne Realty & Insurance Co., Inc. today!

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.

What Is A Floodplain and Why Does It Affect Your Insurance?

At Wayne Realty & Insurance Co., Inc. residents who live in the Goldsboro, NC area can find the perfect property and buy the insurance they need to protect it at one convenient location. As realtors, we can quickly identify properties that are located in floodplains. We can also stress the importance of flood insurance to the potential home buyer. Flooding causes millions of dollars of damage each year to homes and businesses all over the country. Many of them do not have the proper insurance. A home insurance policy will not always cover the effects of water damage or flooding.

What Is A Floodplain?

A floodplain is any land near any body of water, river, stream, or waterway that can flood if the area gets too much rain. Floodplains are often low-lying areas that tend to fill with water rather quickly once the ground becomes saturated. A floodplain can extend several miles away from the original water source. All of the homes within this area can expect some degree of damage if flooding occurs.

When Do You Need Flood Insurance?

Any time you build a home or any type of building on land that is within a designated floodplain, it’s vital that you purchase the appropriate insurance. Without the right amount of coverage, you could experience a devastating financial loss if the area becomes flooded and your building receives extensive damage.

If you live in or near Goldsboro, NC and are unsure if your property lies in a floodplain, call the agents of Wayne Realty & Insurance Co., Inc. today. The agents can determine if there is a floodplain near your property and if so, how much insurance you should have in place to adequately protect your home and property.

 

 

Does Your Business Need Commercial Insurance?

As a business owner, it is important to make sure that you do everything that you can in order to protect your business in Goldsboro, NC. There are a lot of things that you can do to protect your business as well as different aspects of your business. However, here at Wayne Realty & Insurance Co., Inc., we know that the best thing that you can do is get a commercial insurance policy. 

How to Know if Your Business Needs Commercial Insurance

If you own a business, then you need to have a commercial insurance policy. There is no other way around it if you want to provide your business with the best protection possible. One of the best things about a commercial insurance policy is that it is unique to the business it protects. You can get everything you need in a commercial insurance policy, and there is no "one size fits all" options.

If you want to make sure you can protect your business, then you need to get a policy that you can use to protect it. You can also put this policy in place to help protect your employees, protect you against employees, and even to provide workers compensation coverage to your employees. What it comes down to is that there is nothing else that can protect your business the way a commercial insurance policy can. 

If you are in the market for a commercial insurance policy, we can help you get a policy that meets all of your needs. We can provide you with a free quote, or we can even take a look at a current policy that you may have in place to make sure that it is exactly what you need. Be sure to contact us here at Wayne Realty & Insurance Co., Inc., serving Goldsboro, NC, today to learn more and get started.