What does business interruption insurance cover?

You probably feel confident that the commercial insurance you purchased through Kale Insurance is adequate protection for your Lincoln, NC small business. Hopefully, you have coverage for liability and property, auto, and any other important needs.

You may not have considered business interruption insurance, because you don’t expect for your business to be closed for an extended period. But if there is a disaster and your business is temporarily shut down, your bills will pile up while you wait to get back to work. When you can’t provide your normal services or produce your products, you won’t have the income to pay those bills.

What is Business Interruption Insurance?

If there is a disaster big enough your business will be closed and you may even have to rebuild. Business interruption insurance is a kind of policy that will kick in to replace your income so that you don’t have to depend on savings or loans just to stay afloat.

There is also contingent business operation coverage, which can protect you if one of your major suppliers, partners or customers is shut down because of a disaster.

What Does Business Interruption Insurance Cover?

Here are some of the items usually covered by business interruption insurance:

  • Profits you would have earned during the interruption, based on prior financial records for prior periods.
  • Operating expenses, again based on records kept by your company showing historical costs.
  • A temporary location might be provided for if your regular location is temporarily unavailable because of the disaster.
  • Civil authority or government-mandated closures, caused by special circumstances like curfews or temporary street closures.
  • Other expenses may also be covered if it can be proven that they are necessary for business operation.

If you have any question about business interruption insurance, or if you would like to discuss a policy for your Lincoln, NC business, please feel free to give us a call at Kale Insurance so we can help you out.

How much life insurance is enough

Life insurance is one of those things that almost everyone needs. It is not an easy thing to think about, but it is a responsible thing to do. You don’t want to leave your loved ones holding the bag if you pass away. It is all part of planning for the future and in Lincoln, NC, Kale Insurance is there to answer all the questions that you may have.

How much life insurance do I need?

Determining how much life insurance you need depends on a few different factors. All of them go into the amount and type that you will need to purchase.

Who depends on me?

The first thing is to determine is who is dependent on you financially.  The basic rule of thumb is that you want to have insurance that will give your family several years of income when you are gone. If your children are young, you may need to cover the family for more yours. You also need to provide funds for your final expenses and to pay any outstanding debt you may have, this is important even if no one is actually dependant on you.

Age

Your age and health when you take out the policy will affect the cost and to some extent determine whether you will be purchasing whole life or term insurance. Term insurance is less expensive but in most cases, it is only good for a specified number of years and does not have any value at the end of that time. Your ultimate goal for life insurance is also a consideration.

If you live in the Lincoln, NC area Kale Insurance can help you to develop a plan to meet your needs today and into the future. Your loved ones are counting on you.

Can Singles Benefit from Life Insurance, Too?

Most anyone can benefit from what life insurance has to offer. Whether you’re young or old, single or married with a family, life benefits can provide financial security for loved ones after you’re gone. Here are a few ways singles can benefit from a life policy from Kale Insurance in Lincoln, NC.

Liquidate Debts

If you attended college, chances are you have student loans to repay. Your parents may have even co-signed for some of these loans to make it possible for you to complete your education. If you were to suddenly pass on, these debts could be passed on to your parents. Life insurance can be used to pay off outstanding debts so your family doesn’t have to bear this burden. 

Financial Support for Family/Business Associates

Life benefits can provide financial support to aging parents, siblings or a significant other after your demise. If you’re currently supporting your parents or a younger sibling, your sudden passing could leave them in a financial crisis. By obtaining a life insurance policy and designating that benefits be distributed to family members after your demise, you can continue to provide the assistance loved ones need after you’re gone. Life benefits can even go to a business partner to cover your share of financial responsibilities so the business can continue after your demise.

Funeral Costs

Few young, single people plan for their funeral in advance. If an accident unexpectedly takes your life, your family will bear the brunt of funeral costs. Life insurance can alleviate loved ones of this burden by covering the cost of funeral expenses, so they can grieve in peace without feeling the pinch of financial stress.

To learn more about life insurance options and costs, feel free to contact a Kale Insurance agent in our Lincoln, NC office.

How to Choose a Home Insurance Policy

Picking a home insurance policy may not be a very exciting exercise for your day (especially if you were hoping for some much-needed relaxation). But picking the wrong policy can end up being more catastrophic than first meets the eye. So before you choose based solely on the price of the premium, keep these tips in mind before you settle on your individual level of coverage. 

Read the Fine Print 

Insurance is such a complicated subject that it’s easy to see why there are a lot of assumptions about it. Few people have the brain power to really sit down and dissect every clause. But these assumptions can really haunt homeowners who believed a certain event would be covered, when in fact, it was always excluded from their policy. They may believe that their possessions could be replaced in the event of a flood or theft only to find that they’re fully responsible for the damage or the loss. If you live in Lincoln, NC and want to protect what is likely your largest investment, you need to be certain you understand the policy long before you ever sign up. 

Pick the Right Company 

Some insurance companies promise the world until you actually call to file a claim. Kale Insurance has made it our mission to help people rest easy when they’re going through an unexpected event. We’re here to give you the advice you need to take action, so you can get back to your regularly scheduled life. If you have questions or need some help deciphering one policy from the next, it’s time to give Kale Insurance a call. We’re here to help the people of Lincoln, NC get the home insurance that works for them. 

3 Ways Commercial Liability Benefits Your Business Right Now

Business owners in the Lincoln, NC area understand the importance of commercial liability coverage. If a client gets hurt, these policies can save your business from financial disaster. However, you don’t have to wait for problems to occur to get benefit from your coverage. Here are some ways your commercial liability coverage helps your business every day.

Gain Customer Trust

For companies involved in the building trades, having a commercial liability policy can make the difference between gaining a new customer and losing out to your competition. Clients who hire you to work on their properties feel more confident with insured contractors. This is because they know they’re protected from potential problems related to your services. Other service-based businesses like hair salons and dance studios can use their insurance status to draw in resistant customers.

Get a Better Rental Rate

Do you rent your office or production space? A commercial liability policy protects your rented portion of the property, even for spaces in large complexes. Property managers may be willing to offer reduced rental rates if they know you have your own commercial liability policy, as your active policy lowers their own overall liability. Depending on the nature and location of your business, there may be other policies that positively impact your rental rates. Talk to one of the experts at Kale Insurance for more information on how insurance can help you fit into a more comfortable rental rate.

Borrow for Less

Looking for a loan to expand your business? Banks may offer preferred rates to business owners with comprehensive insurance coverage. If something happens during your loan period, it’s much more likely that you’ll be able to meet your obligations if you have adequate insurance. Leverage your coverage status into lower interest rates or a more generous line of credit.

Kale Insurance carries commercial general liability policies for businesses of all sizes and industries in the Lincoln, NC area. Let us know how we can help you keep your business secure.
 

Facts about home owners insurance cover.

Owning a home is considered a great investment. It is important to properly protect it against unexpected perils since it takes a great part of your budget. Besides, if you used a mortgage to purchase your home, your lender will demand the property to be appropriately insured as a condition of sustaining the mortgage.

Understanding the basic facts about homeowners insurance will be of great help to help you get the most out of it. Below are five facts about commercial insurance that will ensure you capitalize on it.

1. There are different categories of homeowners insurance.

A homeowner’s insurance cover could be HO-3 which gives you coverage for open perils, HO-5 which gives coverage for both your structure and property and an HO-6 which gives coverage for structural parts of the building.

2. Not every single type of damage is actually covered.

A standard policy only protects your structure, personal property, liability and loss of use. Certain natural disasters such as sudden floods, war, normal wear and tear, terrorism and earthquakes are not covered.

3. Maintenance of your home is considered while filing claims.

As a homeowner, you should ensure to keep your property in good shape to prevent any vulnerability to damage. Your insurance company can deny a claim if it is determined that the damages were due to negligence or too many claims.

4. You can get discounts with deductibles.

Increasing your deductibles for your home owner’s policy will reduce your premiums depending on your potential risks which in turn guarantee you discounts.

5. Insurance rates differ.

The amount of premium you pay is determined by a number of variables such as area, size, age and level of risks which in turn determines your insurance rates.

If you are shopping around for home insurance quotes, visit us at Lincoln, NC, Kale Insurance to get free and adept advice from our top rated insurance professionals.

How Many Life Insurance Policies do I Need?

As an adult, you have several responsibilities. You have to work, support your family, and look out for the future of the people you love. One of the best ways to do this is by purchasing life insurance in Lincoln, NC from Kale Insurance. However, if you are like many other people, you may wonder – “how many life insurance policies do you really need?” This is a great question and one that’s answered here.

Life Insurance: Its Importance

When buying life insurance, one of the first things you need to understand is why it is so important. Life insurance is designed to cover the costs of end of life arrangements – i.e. your funeral, cremation, or other arrangements. However, the money that is left over can go to settle your affairs, and then be given to your spouse, children or other family member’s to help them deal with the loss financially.

How Many Policies are Necessary?

The number of policies that are needed is dependent on your situation. For example, if you are single and don’t have much debt, a single $10,000 or $20,000 policy could be enough – in some cases, $5,000 may even be enough.

However, there is no limit to the number of life insurance policies that you can have. As a result, you should consider how much money your loved ones will need after you pass. Are you the primary bread winner? If so, choosing more life insurance policies is always better – as your family will receive much-needed support after you pass away.

Do you need help determining how much life insurance you need in Lincoln, NC to ensure your family is taken care of after you pass? If so, reach out to the professional staff at Kale Insurance. Here, you can speak with professionals who can help you determine what you need.

Do I need commercial insurance if I work from home?

Your life as an entrepreneur working from home in Lincoln, NC could encounter hard times if you do not plan carefully. Despite what others may think, you absolutely need commercial insurance if you work from home. Kale Insurance can help you find the right policy. 

The Purpose of Commercial Insurance

Contrary to popular belief, commercial insurance is not just a safeguard for those who have a brick and mortar business. You also need coverage if you own a virtual company that conducts most of its business via the Web. Consider the notion of your online business being sued for negligence after you fail to clearly label one of your products as having dairy ingredients. A commercial insurance policy can pay for damages so that you do not have to come up with the costs out-of-pocket. 

You also need a commercial insurance policy if you invite clients to your house to inspect goods before making a decision to either purchase on pass on products. Your homeowner’s insurance will not cover you if the customer falls on the premises. Renter’s insurance will also prove itself as null and void if the items you are trying to sell are damaged or stolen. A commercial insurance policy will not only pay for injuries to the customer that falls on your property, but a plan may also provide funding so that you can replace damaged or lost products. 

Types of Commercial Insurance

There are many types of commercial insurance available in Lincoln, NC. A few policies may include:

  • Liability Coverage
  • Business Property Insurance 
  • Product Liability Coverage
  • Business Automobile Coverage

Contact a friendly agent at Kale Insurance for a full explanation regarding the scope of commercial insurance. A knowledgeable representative can ensure that you find the indemnity policy that best suits your lifestyle and business model. 

What’s the difference between term and whole life insurance?

Many residents of Lincoln, NC have not obtained a life insurance policy because they don’t know enough about the different kinds of policies to know which one will best suit their needs. At Kale Insurance, we like to educate our clients, to make sure that they don’t miss out on a policy which could benefit their lives. 

Many people who already get life insurance through work also wonder if a separate policy would be helpful. There are two basic kinds of life insurance, and they are quite different.

Term Life Insurance 

Term life insurance is self-descriptive. It is only useful during a specific term, and once the term is up the benefits expire. This is the kind of life insurance most commonly offered through employment, and the entire purpose of term life insurance is to offer death benefits.

There is no question how important it is when a loved one dies that this money is available to take care of necessary expenses. Especially when someone depends on your income, it will be difficult, if not impossible, to pay for the funeral, any related health bills, and even normal bills you shared.

Whole Life Insurance 

Whole life insurance has its value, and you can benefit from it while you are still alive. The premiums that you pay every month accumulate, and you may be able to withdraw funds when you need to. While it may initially cost more, this kind of insurance can be used in estate planning.

A life insurance policy brings peace of mind to you and your loved ones who depend on you. If you are in Lincoln, NC, please feel free to call Kale Insurance today to find out the life insurance policy that best suits your lifestyle.

Do You Need to Update Your Homeowners’ Insurance Policy?

Homeowners should always look at their insurance policies as a work in progress. With every major change in life — you need to update your coverage. Should you fail to make these critical changes, you could be left without the right level of protection. Learn about some of the life events that require an update.

Performing Home Renovations

A significant renovation adds to the overall value of a home. Whether it’s a new bathroom addition or a kitchen update, the fact remains the same. Whenever the value of your home increases, the coverage limit of your policy should also increase. If you’re unsure if your property update requires a policy change, a professional at Kale Insurance can help you determine if it’s necessary.

Making Big Ticket Purchases

Homeowners’ insurance policies offer two-fold coverage in that they protect the structure of your home, as well as your personal belongings. To ensure the coverage limits of your household goods, you should consider increasing the policy whenever you buy big-ticket items, such as new appliances, expensive furniture, or high-value electronics.

Having Children

Lincoln, NC is a great place to raise a family. When you add to your family, you want to contact an insurance agent to update your coverage to ensure your child’s name is listed on the policy. Additionally, should you add a pet to the family, you may need to update your coverage to ensure you have ample liability coverage. 

Follow these tips to ensure your home is protected, no matter what changes life brings. Contact Kale Insurance for all your policy needs. We’re happy to assist Lincoln, NC homeowners like you.