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. 

Commercial Insurance for Small Business Owners: Workers Compensation

Many employers in the Lincolnton, NC area are required to carry workers compensation coverage. The experts at Kale Insurance want to ensure that all neighboring businesses are in full compliance with the law.

  • Under North Carolina law, employers must fulfill certain duties when confronted with an injured employee. This includes promptly reporting the injury to their insurance carrier. If the injury causes the employee to miss more than one day of work or incurs more than $2000 in medical fees, the employer must file a form with the Industrial Commission within five days of the occurrence.
  • Employees have responsibilities under the law as well. They are required to seek medical attention immediately and report the accident to their supervisor promptly. It is also suggested that injured workers present employers with a written notice of the event. This can be a simple, handwritten note that details the time, place, and circumstances surrounding the injury. 
  • Workers compensation provides funds for medical payments and living expenses to injured employees. However, these policies benefit employers too. A generous workers compensation package can help lure highly-skilled candidates to your company. It may also be possible to package your employee health insurance plan with your workers’ compensation coverage. This can significantly lower your out-of-pocket insurance costs. Your policy also provides funds for legal defense if an employee sues over a workplace injury.
  • A lot of the paperwork, scheduling, and reporting for workers compensation cases in North Carolina can be done online. This makes the entire process easier, faster, and more accurate.

The experts at Kale Insurance can help you understand how your Lincolnton, NC area business is affected by workers compensation laws. Contact us today for a personalized review of your coverage needs.

When Can a Life Insurance Claim Be Denied?

When you purchase a life insurance plan, there is no guarantee that the insurer will pay your beneficiaries the claim – and it is vital to know how this can happen. Usually, insurance companies have to study the terms of the policy carefully before they can pay claims. This helps them ensure that the policyholder has fulfilled their obligation. In case the carrier realizes some policy terms were violated, your beneficiaries may get nothing.

Are you wondering how your life insurance claim can get denied? Kale Insurance serving the Lincolnton, NC area will help you understand the terms of your life insurance policy to avoid such eventualities. Here are some top reasons why your insurer can reject a claim:

Misrepresentation of material on the policy

If the insured passes on during the first two years after the life insurance plan became effective, the insurer can contest the policy. They will check if information like income, age, weight, criminal history, hobbies, and so forth are reflected in the application while reviewing the plan. If there is any misrepresentation of information, the company may deny the claim.

Nonpayment or lapse of premiums

A life insurance plan can only be active when the premiums are paid. The policy may lapse or be terminated when premiums aren’t made when due. Denied claims caused by policy lapses are common, and insurers often use this reason as an excuse to deny paying a claim even when they need to pay it. Being a beneficiary, you need to know whether the insurer sent the insured premium-due notices to the right address and if the policyholder was clearly warned of the impending lapse.

Failure to name a beneficiary

If no beneficiary is named in the policy document, the insurer can deny paying a life insurance claim. Each policy has certain provisions regarding the person who should get the payment in case there isn’t a designated beneficiary. Such claims result in denial of lengthy delays since the insurer will be trying to find the right person to pay the benefits to.

There are many reasons insurance companies can deny a claim. Kale Insurance, serving the Lincolnton, NC area, is here to answer any questions you may have concerning life insurance coverage and the claim process. A denied claim doesn’t mean you are out of options provided you get accurate information from the professionals.

How Umbrella Home Insurance Can Protect Your Dependents in Lincoln NC

If you have a spouse or children living at home who are dependent on your income, umbrella insurance for your home can protect them if you experience a catastrophic loss. Ask your Kale Insurance agent how umbrella insurance can enhance your estate planning efforts in Lincolnton, NC and throughout the state.

What is Umbrella Insurance?

Umbrella insurance is supplemental coverage that sits on top of existing policies. It’s not a substitute for home, auto, or other policies. However, if you experience damages that exceed those policy limits, umbrella insurance helps you avoid financial devastation due to major claims, lawsuits filed against you, and other risks.

If you need additional liability insurance on your estate, this protection takes over once your regular insurance has maxed out. It can also cover you for any events specified in the policy, including libel, slander, false arrest, and liability on rental units.

When Does Umbrella Insurance Kick In?

When your home sustains damage that exceeds the limit on your homeowner’s policy, umbrella insurance kicks in to protect you and those who depend on you. If you have large assets, including your home, umbrella insurance is highly recommended. This insurance helps safeguard you and your dependents against major claims and lawsuits. If you want to protect your wealth fully, umbrella insurance is useful for the following assets:

  • home
  • auto
  • boat and other recreational assets

What Does Umbrella Insurance Cover?

Here are just a few incidents that can be written into your personalized umbrella policy:

  • Injuries that occur on your property
  • Damage sustained to your property
  • Damages awarded against you in certain laws suits
  • Personal liability

If you think your homeowner’s policy won’t cover reasonable risks to your home, it’s time to think about an umbrella policy.

Ask your Kale Insurance agent what umbrella policies could best fit your family’s needs. Call today to schedule an appointment for a quote to protect your Lincolnton, NC home.

Commercial Insurance Offers a Financial Shield Against Attacks On Your Digital Assets

North Carolina business owners enjoy the benefits of a diversified economy that includes significant operations in financial services, energy, information technology, furniture retail, and textiles. In fact, North Carolina is home to the third-largest financial center in the nation. Carolina businesses that operate in financial services and retail are particularly vulnerable to cyber attacks, which aren’t usually covered under standard commercial insurance policies. At Kale Insurance, we provide all types of insurance products to North Carolina businesses. We also generate policies in South Carolina.  

While businesses within North Carolina’s burgeoning tech industry strive to stay ahead of hackers to protect computer systems against data breaches, the cybercriminals sometimes get through. They damage your brand by exposing your customers to identity theft and fraud. A call to our agents at Kale Insurance in Lincoln, NC can help to mitigate the risks that are associated with these types of attacks on your digital assets.

The Rise of Cyber Theft

Data breaches that are caused by hackers are more than just cute pranks. According to a recent study, cyber attacks cost companies millions on average each year. Some recent examples of well-known companies that have experienced costly data breaches include Equifax, Dun and Bradstreet, and UNC Health Care.

Recent Cyber Attacks

The credit agency giant Equifax was the target of one of the most significant hacking incidents to date. Cybercriminals exposed Equifax’s customer records, which included full names, email addresses, dates of birth, addresses, credit card numbers, driver’s license numbers, and social security numbers. The Dun and Bradstreet data breach exposed corporate customers’ records to anyone with internet access; CVS Pharmacy and Walmart were among the companies that had exposed data. While healthcare is a relatively second-tier sector in the Carolinas’ economies, the data breach at UNC Health Care that exposed patients’ personal contact and healthcare information was significant.  

Final Thoughts

Data breaches like the ones that are described here can result in disrupted operations, costly lawsuits and identity theft on a large scale. At Kale Insurance, we provide all types of commercial insurance products to Vale and Lincoln, NC businesses as well as those in the surrounding areas. Call us today about insurance that specifically protects digital as well as physical commercial assets.

Why Should You Increase Your Life Insurance Amount After Each Child You Have?

Here at Kale Insurance, serving the greater Lincoln, NC area, we recommend increasing the amount of your life insurance policy after the birth of each new child in your home. This is a standard recommendation made by most insurance companies. However, many people wonder why it is recommended that they increase their life insurance policy amount after the birth of each new child. Here are a few of the reasons why. 

Your Household Expenses Increase With Every New Child

One of the reasons why your life insurance policy should increase after the birth of a new child is because your household expenses increase when a new child is added to your family. Another person living in your home causes your water and power bills to increase. You also have to feed and clothe this new child. As such, your household expenses increase. If you were to pass away, these expenses would be passed on to your spouse. If your life insurance policy didn’t increase after the birth, there might not be enough money to provide for all of the members of your household comfortably. 

Your Future Expenses Increase With the Birth of a New Child

The second reason why your life insurance policy should increase after the birth of a child is that your future expenses may now be higher thanks to the new child. Do you plan on sending your children to college or paying for their weddings? If you haven’t increased your policy limits after each birth, there may not be enough money to provide for these events in the future if you pass away. As such, increasing the limits is important, so your kids have everything you dream of providing for them, even if you pass away. 

If you have recently added a new child to your household, but have yet to increase your life insurance amount, now is the perfect time to do so. Contact Kale Insurance, serving the greater Lincoln, NC area today and let us help you determine what amount of insurance you need. Reach out to our agents for more information.