Do You Have To Add A New Utility Structure To Your Property Insurance Policy?

That Tool Shed You’ve Been Eyeing Is Finally Yours!

You’ve decided to purchase that tool shed. Do you have to call your insurance agent to inform them of the new structure on your property? The short answer is no. Most homeowner’s policies include coverage for other structures. The professional staffers at Wayne Realty & Insurance Co Inc. will be happy to go over this question with you. Staffers there understand the mandates of the state of North Carolina, along with Wayne County and Goldsboro.

Though other structures are categorically covered on your homeowner’s insurance policy, it’s good to have a professional review it with you. If you purchased your home and it did not have another structure on the property, it’s possible the category"B" for "other structures," which is on a standard policy, is not a part of your policy. You may have opted not to include this in your policy because you did not have another structure on your property.

New Utility Structure? This is a Great Time to Review your Home Insurance Policy

Contact the professionals at Wayne Realty & Insurance Co Inc. Many residents of Goldsboro, NC, and the surrounding areas have decided to make this reputable agency their place for all insurance matters.

You can find more information about this topic and many other exciting aspects of your home insurance policy in the Consumer’s Guide to Home Owners Insurance issued by the North Carolina Department of Insurance.

Contact our office at Wayne Realty & Insurance Co Inc. We will help you understand your policy and ensure that you have coverage for your shed, utility structure, or garage on your property. If you are looking for a new policy, we can help with that. 

How Much Home Insurance do In Need?

Investing in home insurance not only protects your property but your family as well. So, you need to ensure you are carrying the right amount of insurance to give you optimal coverage when the unexpected occurs. That said, what’s the amount of home insurance coverage you should carry? It’s not a straightforward answer because homeowners are different. However, Wayne Realty & Insurance Co Inc. of Goldsboro, NC, guides you to help shop for home insurance sufficient for your needs.

The amount of dwelling coverage required

Home insurance protects your structure against fire, theft, falling objects, natural disasters, and other risks stated in your policy. While home insurance isn’t mandatory in North Carolina, it may be required by your mortgage lender. And the lender expects you to purchase home insurance that’s more than the mortgage amount at any given point.

Your lender’s home insurance requirements should only act as the base upon which to build. As a rule of thumb, purchase home insurance that can finance rebuilding your house from scratch. Simply said, sufficient dwelling coverage shouldn’t be less than the replacement value of your home.

How much personal contents coverage do I need?

This depends on you. Do you want the actual cash value offered by most insurance companies or a replacement value that ignores the depreciation factor? Remember that both are subject to deductibles and limits. We recommend using the replacement cost to ensure you don’t incur significant out-of-pocket expenses when filing a claim.

How much personal liability is enough?

Most insurers provide a default home insurance liability of $100,000. While it may seem like it’s a lot, it’s likely to fall short when faced with significant liability claims. Consider increasing your liability coverage to $300,000 or consider umbrella insurance if you are a high-net-worth individual.

Want more guidance on home insurance? Why don’t you talk to Wayne Realty & Insurance Co Inc. of Goldsboro, NC? We have an experienced insurance team that will offer comprehensive guidance on everything you need to know about home insurance.

5 Items to Review in Your Commercial Insurance

A smart CEO is always rechecking the numbers and making adjustments to keep their company moving forward, whether they’re on Wall Street or starting up a new small business in Goldsboro, NC. These 5 steps are guidelines for how to review your commercial insurance policy.

Your Property and Income

One half of commercial insurance is protecting your company in the case of damaging incidents that slow or stop your business. Knowing how much your company’s property and time is worth will help you adjust your coverage to properly manage the risk.

Your Covered Perils

Basic commercial liability policies are inclusively worded. Only the listed covered perils or damaging events will be recognized in your claim. If you purchase commercial umbrella insurance, it has exclusive wording, so anything not mentioned as an exclusion in the policy can be covered once your other insurance is tapped out or after a small amount similar to a premium if no other policies apply.

Your Fleet of Vehicles

Commercial auto insurance is covered separately from the rest of commercial insurance, so you may need to expand your policy if you pick up a company car or get a truck to haul your equipment.

Your Workers’ Compensation Needs

Small businesses with only one or two employees are not required to have workers’ compensation insurance, but companies that have more than that will need coverage. Even if you aren’t required, workers’ compensation is a good idea if your employees are taking on a lot of risks.

Your Alternatives

Shopping around from time to time may get you lower prices or a better suite of benefits. Wayne Realty & Insurance Co Inc. in Goldsboro, NC is always ready to help you review your financial risks and sort through your commercial insurance options.

3 Things Your North Carolina Umbrella Insurance Will Cover

When you are worried about financial risks or losses that your current liability coverages won’t cover, you want to consider umbrella insurance. Umbrella insurance is the insurance policy that holds an umbrella over your head during those losses.

At Wayne Realty & Insurance Co Inc., we want Goldsboro, NC residents to be protected financially in the event of any liability that you do not knowingly assume. 

How Will Your Umbrella Insurance Work?

When you have umbrella insurance, you have an extra policy that covers you when your other liability coverages will meet their limit. When you have a liability claim with your insurance company, the existing coverage will be used first.

That could be your home, auto, or commercial insurance.

If the claim is higher than that, your umbrella insurance will cover that.

3 Things Umbrella Insurance Covers

Umbrella insurance is there when your other insurance policies can not be used. It is there when your coverage limits are met, or in unique situations.

These are the three most common things that umbrella insurance covers:

•    Injuries: When there is an accident on your property, or with your car, where you are liable, umbrella insurance can cover what those policies will not.
•    Property Damage
•    Legal matters: Umbrella insurance can help in certain legal situations such as false arrest, malicious prosecution, defamation, and others.  

Get a Quote

When you are looking for peace of mind over life’s liabilities, umbrella insurance is the most common policy to get. It will serve as insurance when liability maximums are met in other policies, and also help you in the event of unique legal situations.

At Wayne Realty & Insurance Co Inc., we want Goldsboro, NC residents to feel secure with their policy limits and coverages. Call us for a quote with umbrella insurance today.

6 Business insurance policies you may need as a consultant

There are several risks associated with a consulting business. Below are six policies you may need as a consultant:

Cyber liability insurance

There are two types of policies:

Third-party cyber liability insurance: In the event that a client suffers a breach of information and decides to file a suit against you and your company. This policy will cover settlements, judgments, court costs, and attorney fees.

First-party cyber liability insurance: This policy covers data breaches and also cybercrimes that affect your business directly. Costs covered include public relations, cyber extortion demands, the cost of notifying clients, credit monitoring, and public relations. 

Workers compensation

Covers employees for work-related injuries which may lead to lost wages, and medical expenses in the event that an employee gets injured on the job. 

Business owner’s policy

This policy covers two separate policies, including general liability and commercial property insurance. Not all consulting companies will qualify for this insurance. This policy is available to companies that have less than 100 employees, work in a small office space, make less than $1 000 000 a year, operate in a low-risk industry, and need less than a year’s business interruption insurance. 

General liability insurance

This policy covers a business in the event of a third-party liability claim such as bodily injury, property damage, or advertising damage. 

Professional liability insurance

This policy protects your company when a client decides to sue for poor work or unsatisfactory work delivered.

Fidelity bonds

This policy offers protection if an employee steals from you or your client. 

Speak to an expert at Wayne Realty & Insurance Co Inc. serving Goldsboro, NC today to find out which insurance policy is best suited to you and your family.

What are the Risks of Not Having North Carolina Property Insurance?

Owning a property in North Carolina means that you take on a number of liabilities. If an accident happens on your property, you are responsible for the costs. If bad weather happens to your property, you have to find a way to cover that too. These are just a few examples of the risks of not having North Carolina property insurance.

At Wayne Realty & Insurance Co Inc., we want Goldsboro, NC residents to be protected from every risk. We can help you to identify your risks, and build the best home insurance policy for your needs.

Legal Costs From General Liabilities 

General liabilities refer to general mishaps that happen with life. Your dog might bite a neighbor, your boss might fall down the stairs at your kids birthday party, a contractor might hurt himself on something in your backyard.

You are responsible for any problems like these that happen on your property. Many of these matters are things that you can control, which is why you are held responsible for them when they happen.

You can submit claims on your home insurance to cover those problems. If the problem is not resolved quickly, you could be sued for any of these things. Your home insurance would cover that to a certain extent.

Acts of God and Other Matters

Your home is a building that is susceptible to a number of other risks that you can not control. That includes:

• Fallen objects such as trees and other matters
• Fire
• Earthquakes
• Floods
• Hurricanes
• Hail
• Power outages
• Wildfires

These are just a few of the many risks that come with homeownership. North Carolina home insurance can help you with all of these things.

Get a Quote

When you own a home, you are buying into a dream, but it’s a dream that comes with a lot of big responsibilities. That is what home insurance is for. At Wayne Realty & Insurance Co Inc., we want Goldsboro, NC homeowners to have every risk covered. Call us for a quote today.

All You Need to Know About Auto Insurance

Auto insurance is what every driver in North Carolina must carry because it is required by law. This means that driving without valid car insurance is illegal. If you are currently shopping for auto insurance but do not know where to start, an insurance company Wayne Realty & Insurance Co Inc. serving clients in Goldsboro, NC, and other nearby towns, prepared a list of things you should know: 

What Should You Know About Auto Insurance? 

  • There are certain factors affecting auto insurance rates. These factors include your driving record, age, credit score, gender, insurance history, location, annual mileage, years of driving experience, claims history, and marital status. 
  • Insurance prices may vary by company. Therefore, experts recommend getting quotes from several companies and compare them in order to make sure that you are buying the most cost-effective insurance plan. 
  • Higher deductibles lead to lower premiums. The deductible is the amount you have to pay out of pocket first before your insurance starts covering. If you pick a policy with a higher deductible, then your monthly insurance payment will be lower. 
  • There may be discounts available. Do not hesitate to ask about discounts. Many insurance companies offer auto insurance discounts that you may be qualified for. 
  • There is a difference between comprehensive and collision coverage. Collision coverage covers damage to your vehicle that occurs as a result of a collision with another car or object. Comprehensive coverage is coverage that provides protection against theft and damage caused by an incident other than a car accident. 

Wayne Realty & Insurance Co Inc.  – Your Safety On the Road Is Our Priority

If you live in Goldsboro, NC and you are looking for auto insurance for your vehicle, Wayne Realty & Insurance Co Inc. is the right company to contact. We provide different auto insurance options and will help you find a perfect policy. You can visit our website or call us any time – our experienced insurance agents are here for you. 

3 Benefits Of Group Health Insurance

Wayne Realty & Insurance Co Inc. serves the Goldsboro, NC community. For over 50 years we have helped local residents find the coverage they need to protect their assets. We have relationships with multiple carriers throughout the region. We take the time to assess each of our client’s unique situations, so we can help them find a custom policy.

Benefits Of Group Health Insurance

As a Goldsboro, NC resident, you are aware of the state’s Small Employer Group Health Coverage Reform Act. The act highlights the benefits of businesses choosing group health insurance policies for their employees.


If you are a business owner, you’ll notice that group health insurance policies are efficient. It’s equally beneficial for both you and your employees. Your employees receive the security that they are protected if they get ill on the job or if they suffer a serious injury that requires surgery and rehabilitation. You are protected because your business should continue to function without any major issues.

More Options

Group Health insurance policies involve a large pool of people receiving coverage under one plan. Your employees should have more options to find coverage that specifically suits their needs. Group health insurance policies are flexible.

Improves Employee Morale

Your employees are the foundation of your business. When you show your employees that you value their hard work, you create a positive work environment. Your employees will be excited to come to work every day knowing that you will look out for them if they have health issues.

Wayne Realty & Insurance Co Inc. Will Help You Protect Your Assets

Visit our website to learn more information about group health insurance.

Do all people need to have commercial insurance in North Carolina?

Being a small business owner can be a good idea for anyone that has a good idea, wants to work hard, and has a dream of being their own boss. As you are looking to start your company, you may find that Goldsboro, NC is a great business location. Those that do want to start a company here need to make sure they get proper insurance. You need to have commercial coverage for a few reasons.

Meet Investor and Lender Requirements

An important reason to have a commercial insurance plan here is so you can comply with requirements and standards set by various parties. A lot of businesses will take out a business loan or raise outside equity to help fund their business. Those that are going to raise these funds will have various insurance requirements set by the lender or investor. Not complying with these requirements could result in various violations. 

Protect Your Business

Business owners that do not have specific insurance requirements will also want to have this coverage as it can protect their business. A commercial plan can provide the coverage needed to repair or replace your key business assets and mitigate commercial liability risk. All of this coverage can prove to be very helpful if you do incur a loss or are named in a commercial liability claim. 

There are a lot of advantages that come with starting a company in the Goldsboro, NC area. As you are looking for coverage in this area, it would be wise to call Wayne Realty & Insurance Co Inc. There are plenty of advantages that come with starting a company in this area and Wayne Realty & Insurance Co Inc. can offer the support that is needed to build a plan that is ideal for your situation. 

What Areas Does Umbrella Insurance Cover?

Umbrella insurance is a cover designed to provide extra liability coverage when your auto, boat, and homeowners insurance get exhausted. However, unlike other policies, it can only provide compensation to help you offset 3rd party expenses. For more information on what this means and the areas covered, Wayne Realty & Insurance Co Inc. explains what a Goldsboro, NC resident can expect from umbrella insurance.

Bodily Injury Liability

The first instance that umbrella insurance will come in handy is when you cause injuries to 3rd parties. Bodily harm can arise from auto accidents that you cause, pet bites during a guest’s visit, and fall accidents in your home. If any of these occur and your primary cover can no longer cater to other parties’ medical costs, umbrella insurance will help you offset the balance.

Rental Unit Liability

Rental unit liability protects you from claims that you face as a landlord. When your tenants get injured due to defective structures and sue you for damages, umbrella insurance helps you pay the ensuring costs. These can be legal fees and damages when you are found liable for the harm caused.

Property Damage Liability

Property damage liability protects you when you destroy other people’s property. Examples of events that lead to this include auto accidents and when your guest’s property gets damaged in your home. Umbrella insurance provides compensation needed to cover the repair and replacement costs when policies such as home and auto are insufficient.

Everyday Liability Claims

Umbrella insurance also helps you cater to everyday claims when primary policies reach their limit or when they are not included in your coverage. Examples of these include slander, libel, and mental anguish. In addition to this, if you are also liable for claims related to malicious prosecution and false arrest, umbrella insurance helps you pay your legal fees and damages.

To get umbrella insurance in Goldsboro, NC, call Wayne Realty & Insurance Co Inc. today for a tailor-made policy.