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204 Muirs Chapel Rd, Suite 100,
Greensboro, NC 27410

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5 Common Mistakes People Make When Buying Home Insurance

When it comes to protecting your home, there’s no such thing as being too careful. Home insurance can help to cover the cost of repairs or replacements if your home is damaged by fire, theft, or other unforeseen circumstances. However, many people make mistakes when buying home insurance that cost them dearly in the long run. Navigate Agency in Greensboro, NC can help you navigate this important coverage.

Here are five common mistakes to avoid when shopping for home insurance

1. Not Reading the Policy Carefully

One of the most important things to do when shopping for home insurance is to read the policy carefully. Many simply skim through their policies or don’t read them. As a result, they may be unaware of what is and isn’t covered by their policy. This can lead to costly surprises if they need to make a claim later.

2. Not Updating the Policy Regularly

Another mistake people make is failing to update their policy regularly. As your home changes over time, so too should your insurance policy. If you add new valuable items to your home or make any major changes, be sure to let your insurer know. Otherwise, you may not be fully protected in the event of a loss.

3. Not Shopping Around

Many people simply choose the first home insurance policy they come across without shopping around. However, there can be significant differences in both price and coverage from one insurer to the next. It pays to shop around and compare policies before making a decision.

4. Failing to Disclose All Relevant Information

When applying for home insurance, it’s important to disclose all relevant information to the insurer. If you fail to do so, you may end up with a policy that doesn’t fully protect you. For example, if you have a trampoline in your backyard, be sure to mention this to your insurer. Otherwise, they may not cover any injuries that occur as a result of its use.

5. Not Understanding Exclusions

Finally, many people are unaware of the exclusions that are often found in home insurance policies. These are circumstances under which your insurer will not cover a claim. It’s important to understand what is and isn’t excluded from your policy so that you know what you’re covered for.

Get Home Insurance in Greensboro, NC

Avoiding these common mistakes ensures you’re getting the most out of your home insurance policy. Contact Navigate Agency today for more information on finding the right policy for your needs. We’ll be happy to help you find the coverage you need at a price you can afford.

Does My Homeowners Insurance Cover Floods?

Depending on your coverage, your homeowners’ insurance may cover flooding. If you live in an area prone to flooding, such as the Midwest or East Coast, and you want to protect your home, you can buy flood coverage. 

If you live in a high-risk area but aren’t likely to flood, you might consider a flood policy with a high deductible. For expert guidance in the greater Greensboro, NC community, consult Navigate Agency. 

What the Policy Entails Regarding Floods 

Floods are one of the few perils that homeowners insurance will likely cover. The costs of repairing or rebuilding after a flood can be enormous, however, and you should only buy coverage for floods if it’s recommended for your location. 

Floods are one of the most common causes of home insurance coverage claims, and one of the most difficult to predict. Even if your homeowners’ insurance does not specifically cover flooding, you can purchase coverage for flooding through the team of experts at Navigate Agency.

If your home is damaged by flooding, it’s a matter of looking into whether your homeowners’ policy covers and its limits. Homes built before the year 1972 are generally not covered for damages caused by floods. Keep in mind that even properly maintained properties can experience flooding during heavy rainstorms, so be prepared to deal with any flooding that occurs. 

If your home was built between 1972 and 1978, it’s likely protected by a federally mandated limit of $50,000 per occurrence. If your home was built between 1979 and 1996, it’s likely protected by a federally mandated limit of $100,000 per occurrence. 

Contact Us Today

Flood coverage is usually included in your homeowners’ insurance policy, but it may be listed under a different category. Your homeowners’ insurance may not cover the costs of repairing or replacing damaged items, but it may cover the cost of cleaning up the property. Call Navigate Agency for help in Greensboro, NC.

Required Auto Insurance in North Carolina

When you have a vehicle in North Carolina, you are required by state law to have auto insurance for it. This protects you in a number of ways from the financial ruin that could come after an accident if you didn’t have insurance. When you need auto insurance in North Carolina, call us at Navigate Agency in Greensboro, NC. 

Required Auto Insurance

Liability Coverage

Required insurance policies in this state come with three different coverage amounts for liability. Liability coverage is what pays for the damages that are done to someone else in an accident that is judged to be your fault. The state requires a specific coverage amount for the bodily injury caused to one person. Another amount is mandated for all of the people who are injured in the accident. These coverages pay for the medical bills and lost wages of those who are injured. It is also required to have a specific amount for property damage. This pays for the other party’s vehicle damage and any other property damage caused by an accident.

Uninsured Motorist

The other type of coverage required is for uninsured motorists. Though having auto insurance is required for all vehicles in the state, getting into an accident with someone who doesn’t have insurance does happen. When the accident is their fault, you need uninsured motorist coverage to pay for the medical bills and property damage. This coverage also protects you in case there is a hit-and-run. The amount required for this coverage is the exact amount of coverage that you have for regular bodily injury liability coverage. 

Get the Auto Coverage You Need

When you own a vehicle in North Carolina, it’s important to have at least as much insurance as the law requires. If it’s time for you to get auto insurance, call us at Navigate Agency in Greensboro, NC.

 

Commercial insurance lines your business can benefit from

Commercial insurance is not just one type of insurance. There are lots of different lines that you can choose from to customize your insurance. You need to have the right amount of the right kind of insurance. Nobody wants to pay for insurance they don’t need. When you need advice, you can count on Navigate Agency in Greensboro, NC to help you to make sure that the insurance you end up with meets the needs of your particular business. 

Commercial Insurance Benefits

Commercial property insurance

Commercial property insurance covers your building if you are the owner but it also covers all your business property, the things you need in order to do business. Depending on the type of business that you own it can be machinery, display units, inventory, raw materials, office equipment, electronics, and more. 

Commercial liability insurance

Getting sued is all too common for businesses and being prepared with liability insurance gives you the layer of protection your business needs to survive it. 

Business interruption insurance

If something happens to your business and you are not able to function, your income may go down to nothing. Unfortunately, your obligations won’t go down to zero. You will still need to pay bills, rent, and payroll. That means either you have a load of savings, or you have business interruption insurance. Not every hazard is covered with this insurance, so read your policy carefully. 

Workers compensation

In North Carolina, if you have three or more employees, you must provide workers compensation insurance for them. It is actually good for your employees and for your business. If you don’t have insurance, they could sue your company over their injury and that would not be a good thing. 

Contact Navigate Agency in Greensboro, NC to get the customized commercial insurance that your business needs. 

3 Flood insurance facts in Greensboro, NC

Floods are unavoidable. Rising water always brings risk, no matter where you live.

Luckily, Navigate Agency can throw you a life raft. Located in Greensboro, NC, they can find a policy that’s right for you. But they are also a great resource for information. 

To debunk some common misconceptions about flood insurance, Navigate Agency shares these three flood insurance facts.

Flood insurance is excluded from other policies.

Many assume that they already have flood protection. Unfortunately, this is incorrect. Floods are usually not covered in standard homeowners or renters policies. Only a designated flood insurance plan can grant the protection you need. But these policies are easy to add. Most flood insurance is privately issued and federally supported by the National Flood Insurance Program. In the event that damage does occur, flood insurance shields both a building’s structure and any belongings inside.

Flood insurance is necessary everywhere.

Flood insurance isn’t often required. Yet, it’s always encouraged. Residents who live in high-risk zones or hold government-assisted mortgages are typically mandated to purchase flood protection. However, anyone can experience flooding. In fact, FEMA states that people in low to moderate risk areas are still nearly five times more likely to face a flood when compared to a house fire.

Flood insurance isn’t just for homeowners.

Everyone needs flood insurance. This can’t be stressed enough. When renting, a landlord’s policy covers the exterior of the building only. Interior damage to fixtures, furniture, appliances, and personal possessions would be excluded. Flood insurance fills in this gap.

Call Navigate Agency today

Navigate Agency provides more than just information. Serving Greensboro, NC, their experienced agents can build a policy that ensures you’re protected from floods. Schedule an appointment today.

What types of coverage does home insurance provide?

Home insurance is not just one type of coverage. It offers a variety of different types of coverage, including property coverage, content coverage, liability coverage, and loss of use coverage if you can’t live in your home. At Navigate Agency in Greensboro, NC, we want to help you navigate the insurance highway and as independent insurance agents, we can provide more choices than traditional captive insurance agents. 

Property coverage

Your home insurance covers the physical structure of your home It also covers any exterior attachment such as porches, decks, and garages. It also covers detached buildings such as garages, sheds, or casitas. The types of coverage that are included will be detailed in your policy as will the exclusions. 

Content coverage

Your content is also covered. It is usually a percentage of the amount that your home is covered for. You have two options when it comes to content coverage; you can have current value or replacement cost. With replacement cost, you collect the amount you need to replace the lost items at today’s cost. With current value, depreciation is taken into account and you will get the value of the item lost today. 

Liability coverage

Liability coverage is one of the most important types of coverage and one that everyone hopes never to have to use. It will pay for injuries if someone is injured while visiting your property or by a member of your family. It also includes legal fees. 

Loss of use

If your home is damaged by a covered hazard, you may need to stay in a hotel for a time while it is being repaired. Your home insurance will pay for the hotel if you have loss of use coverage. 

Contact Navigate Agency in Greensboro, NC with your home insurance questions and needs. Give us a call or stop by our office. 

When to File an Auto Insurance Claim

Being in an automobile accident is stressful and knowing when or how to file an insurance claim is often the last thing on your mind. If you are involved in an accident with another vehicle, then you’ll want to contact your insurance company – particularly if you are at fault.

If the accident is your responsibility, the other party’s insurance may come after you for damages. Prepare for a possible auto claim by providing the other driver with a copy of your insurance information and driver’s license. In addition, it is always a good decision to contact the police as they will file a police report and help adjudicate the situation if both parties claim to not be responsible.

Anytime serious damage or significant injuries occur, you’ll want to contact your insurance company. Even if you hit another vehicle and the damage looks minor, the repairs may cost substantially more than you think – particularly with how much technology new vehicles contain. While it can be difficult to determine at the scene if injuries have occurred, particularly because many like whiplash can be delayed, you don’t want to be responsible for paying another person’s medical bills so let your insurance company handle it by filing a claim.

Additionally, if your vehicle has damage and you carry collision coverage the insurance company will cover the cost of the repairs minus your deductible. Waiting for weeks or months after an accident could result in non-payment as most insurance companies require reporting within a reasonable timeframe. 

At the Navigate Agency in Greensboro, NC we understand that accidents happen and we want to help. Give us a call to learn more about our auto insurance offerings. 

How Can Commercial Businesses Prepare for Significant Storms?

When the weather forecast calls for heavy rain and high winds or a natural disaster, is your business prepared? Extreme weather of any kind has the potential to interrupt the daily operations of your commercial business, but it doesn’t have to bring it to a complete halt. Navigate Agency wants to help Greensboro, NC business owners are prepared for storms and ensure they can get back to business as quickly as possible when a storm blows through. Here are a few tips.

Have a Plan

First and foremost, it is imperative that your commercial business has a disaster preparedness plan in place. With this plan, you will be able to identify key risks, back up essential functions of your operation, budget for emergency costs, protect your commercial assets, and get back up and running much quicker.

Send Out an Alert

If your hours of operation will be impacted due to a storm, it is imperative that you inform your customers and employees. It is best to be proactive about this, as opposed to letting them know after the fact, which lets them know you are staying on top of everything. Take advantage of all types of technology to send out alerts, such as text alerts, e-mail, and social media.

Back-Up Your Data (and Protect Physical Files)

If the electricity goes out or your equipment is struck by lightning, are your sensitive data and important information backed up? If your area floods threatening your building, are your electronics and physical paper documents safe? Consider keeping copies of physical documents and a backup server at a separate location. Alternatively, save everything to the cloud on a regular basis.

Be on the Offense

You never know when a storm may pop up and threaten your business. The key to a good defense is a solid offense. Therefore, you should do everything you can to be prepared for the worst possible situation. This includes ensuring you have the proper commercial insurance coverage for your property, assets, and the like.

Is your commercial business prepared to weather any storm that Mother Nature may send it’s way? If you’re not sure, contact us at Navigate Agency so we can sit down and take a look at your current policy. We currently serve the Greensboro, NC area and want to ensure that you have sufficient commercial insurance coverage before the next storm hits.

Home Insurance Tips: Understanding Fire Hazards in the Home Around the Holidays

The most wonderful time of year is coming up where there are delicious dinners, memorable moments with the family, and presents. However, it is also one of the most dangerous times for household fires/accidents. Navigate Agency wants to share some holiday safety tips with the residents of Greensboro, NC to help ensure that the surprises this season are good ones.

Holiday Fire Hazards

There are numerous opportunities for a fire to begin throughout the holiday season. Here are a few of them.

  • Fireplaces – Before the weather gets too cold and your fireplace needs to be used frequently, you should have a professional clean out the chimney. This will remove any creosote buildup from inside the chimney, and this is important because creosote is flammable.
  • Cooking – Make sure that all pot handles are always turned inward on the stove so no one accidentally knocks over a pot while in the kitchen. After all, there is a good chance your kitchen will be jam-packed come the holidays. Make sure pot holders, towels, and other flammable items are kept away from the burners.
  • Christmas Trees – If you opt for a real tree this year for the holidays, make sure you keep it watered on a daily basis. The drier your tree is, the more flammable it is.
  • Candles – If you like to decorate the home with candles or use candles for a Christmas scent in the home, ensure they are out of the reach of pets and children. You should also keep them out of high-traffic areas where they can easily be bumped and knocked over. Don’t forget to blow them out before leaving the house or going to sleep at night. If you’re only using them for décor, consider battery-operated ones.

Review Your Home Insurance Coverage

While you can take all the safety measures in the world, there is always a risk that a fire may break out in your home. Because of the increased risk of a fire during the holiday season, you should take the time to review your home insurance coverage. You should ensure you have sufficient liability coverage since you’ll have more guests on your property.

The holidays can be busy, which is when a lot of mistakes can occur. Watch for fire hazards and keep the aforementioned safety tips in mind. Navigate Agency is here to help Greensboro, NC homeowners ensure they have the proper home insurance coverage as they enter the holidays as well as the rest of the year.

Partner Carriers

  • Foremost
  • Hartford
  • Heritage Insurance
  • Homeowners of America
  • Kemper Auto
  • Liberty Mutual
  • National General
  • NC Grange Mutual
  • NCIUA
  • Neptune Flood
  • Orion180
  • Progressive Auto
  • Prudential
  • Safeco
  • Transamerica
  • Travelers Insurance
  • Utica National