Working out in your front yard the other day, you noticed something strange in the wooden posts near the front door. Little holes had formed near the ground where your shrubs are, and there are all kinds of white bugs near the worst section.
Uh oh. You realize you might have termites. You begin imagining collapsing ceilings, crumbling walls, and much more. It’s your worst nightmare as a homeowner.
The question now is, do you call your insurance company? Will your policy cover the damage?
You’ve made the decision to go for it. You’re finally going to build your North Carolina home, new business, or commercial building! You know exactly what type of wood floors you want, the color of the marble for your bathroom, the exact brick you’ll use on the outside. The plans are finished, and you’re ready to go.
You’ve read through the contract between you and the builder multiple times. Your contractor has all of the necessary insurance policies in place, but do you have the insurance that you need? If you don’t have a Builder’s Risk insurance policy, the answer is “no.”
When one first moves in to their new home, the one thing in common is they must purchase a homeowners insurance policy. Most people do not understand the importance of periodically reviewing their policy and evaluating their needs. Often, the cost to rebuild increases, but some policies may not allow for an increase. What if there’s been a renovation or upgrade? How would one know whether this is covered without a review? Having a major loss is not the time to find out.
June 1 was the start of hurricane season. You’ve probably purchased your batteries and flashlights. You may even have a hurricane kit already set up and waiting. The moment a storm is named and headed your way, you know to fill up on gas, stock up on shelf stable foods, and hunker down to wait it out. You’re as prepared as you can be.
Or are you?
You’ve worked hard to build the life you’ve always wanted. A large home on a private estate, the collection of antique cars in a luxury garage, a private yacht – it’s all yours. You take pride in everything you’ve accomplished. Looking around, it’s satisfying to see the luxurious life you’ve built for you and your family.
But it can be threatened in an instant.
While average people are often perfectly honest and would never think to commit fraud against anyone, there are plenty of people who are not. Insurance fraud may seem harmless enough, but when schemers are paid money they’re not due, the result is higher premiums for everyone. Insurance fraud is expensive and illegal. Honest, law-abiding citizens are encouraged to report insurance fraud when you see it. Take a look at these common types of insurance fraud so you know what it looks like.
The gecko says you can save 15 percent in 15 minutes. The lady with the name tag says her company has the best prices – but they don’t have price tags. Another insurance company will zap you out of trouble with a jingle.
They’re all fun and make great commercials.
But do you really have time to check out three, four, or more insurance companies for your auto or home insurance needs? Each time, you have to submit your information, wait for a quote, and then compare.
First-time homeowners: so you have finally settled in, unpacked all boxes and have some time to catch a breath. Everything is good to go now, right? Well, almost! If you have not created a home inventory list yet, it is that time. This list may seem like an intimidating task but it is sure to go hand-in-hand with your new home insurance policy. Our North Carolina insurance agency has a few tips to help you tackle this project with ease!
In the event of a sudden emergency such as a hurricane, you may have just minutes to gather your family and important papers, and get out of your house, possibly for good. Are you prepared? Where would you go? What would you take with you?
With preparation and practice, you stand the best chance of getting out with what you and your family need, and ending up in the right place.
Planning ahead is crucial; this five-step plan can help get you and your family on the road to safety.
