Author: agentinsure

Why Term Life Insurance Is a Good Option for People With Young Families

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If you have a young family and a tight budget, you may not think that you can afford life insurance. You may be surprised! The professionals at Jim Boyce Insurance, servicing the Matthews, NC area, can help you with this.

We work with many insurance carriers to help our customers find the best policy for their needs. If you need life insurance and think you can’t afford it, term life insurance may be the best option. Here’s what to know. 

What Is Term Life Insurance?

Term life insurance is a type of life insurance that only lasts for a specific period, and then the policy ends. Many people choose term life insurance when their children are young and finish their policy when their children are adults.  

If the insured dies while the policy is active, a benefit will be paid to the beneficiaries. Term life insurance is often available for a lower cost than options like whole life insurance, so it is often the insurance policy of preference for young families with tight budgets. 

Why Choose Term Life Insurance for Your Household?

Term life insurance can be used to pay for important expenses like a mortgage payment, tuition fees, food, bills, and more. If you choose term life insurance for your family, you can enjoy peace of mind knowing that your family can enjoy financial stability even after you die.

Need Term Life Insurance? Call Today

If you need term life insurance, the professionals at Jim Boyce Insurance, servicing Matthews, NC and surrounding areas, can help. We provide life insurance of all kinds to our customers. We work with many insurance carriers to give our customers options. For more information, give us a call today. 

Protecting Commercial Growth in a Suburban Market

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As a business owner or commercial investor in Matthews, NC, it’s essential to protect all aspects of your investment. At Jim Boyce Insurance, we help our clients find the right commercial insurance policies for their needs.

Benefits of Commercial Insurance

Notable benefits of commercial insurance include shielding your investment from unexpected financial losses that may disrupt your ability to expand or remain operational. For example, property insurance for businesses protects your inventory, equipment, and buildings from damage and physical loss (including vandalism). The right insurance policy provides peace of mind, whether you’re in a suburban or rural area.

Protecting Yourself and Your Employees

As you continue to grow and expand your business, you’ll want to do so with workers’ compensation in mind. Workers’ compensation insurance helps employees with lost wages and medical bills if they’re injured on the job. Whenever an employee is injured, workers’ compensation matters. As a business owner in a thriving digital world, cyber liability coverage is also recommended. This can help prevent data loss and financial losses from a hack or data breach, even if you’re running a small startup or brand-new business. 

Protecting your business and investment doesn’t have to be confusing or overwhelming. Our agency will handle your insurance claims and policies in one central location. If you’re located in Matthews, NC, and you’re seeking a new commercial insurance policy, contact Jim Boyce Insurance for a quote and consultation.

How Does Home Insurance Work For Landlords?

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Standard home insurance policies in Matthews, NC, aren’t designed for landlords. They’re created for people who live in the home they own. However, other options offer the benefits you need. A landlord policy provides the coverage every landlord should have.

Property Coverage

These policies cover property damage from covered perils, just like standard home insurance policies do. Many policies cover events like fires, wind damage, and certain types of damage from natural disasters. Coverage for natural disasters varies, so it’s important to speak with an agent at Jim Boyce Insurance to learn more.

The policy will only cover structural damage to the building. It won’t cover any damage to the tenant’s belongings. Tenants are responsible for obtaining a renter’s insurance policy to cover their personal property.

Liability Coverage

Landlord policies also provide liability coverage in case someone, including a tenant, gets injured on the property and it’s deemed your fault. Liability coverage can help pay for a settlement against you or the cost of the injured person’s medical bills.

Lost Income

Some policies will reimburse you for lost rental income, but it depends on the reason why. For example, if you cannot rent the property because it was damaged by a covered peril, such as a hurricane, you may be reimbursed for lost income. However, it won’t reimburse you for lost income if the tenant doesn’t pay rent for other reasons, such as financial hardship.

Maintaining proper insurance that meets your needs is crucial as a landlord. At Jim Boyce Insurance, we’ll discuss the details of your policy so you’re aware of the covered events and common exclusions. Contact us today. We’re currently serving the Matthews, NC, area.

Why You Need Underinsured/Uninsured Auto Insurance Coverage

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Although all drivers in Matthews, NC, are legally required to carry auto insurance, not everyone complies. North Carolina is one of the states that mandates all policies include uninsured/underinsured motorist (UM/UIM) coverage. Some people may wonder why this coverage is essential, especially when the incidence of uninsured motorists in the state ranges from 7.4% to 11.8%, according to the Insurance Information Institute. Jim Boyce Insurance is here to help you understand this critical part of your policy.

Why UM/UIM Coverage Is Required

UM/UIM coverage pays for medical bills and vehicle damage if you’re involved in an accident with a driver who has no insurance, insufficient insurance, or if you encounter a hit-and-run driver who cannot be identified. Underinsured drivers may have some insurance, but their coverage may not be enough to cover the costs of a severe accident. Many motorists opt for minimal liability limits to save money. Still, these limits often fall short when medical expenses reach hundreds of thousands of dollars or when expensive vehicles are totaled.

What North Carolina Requires

North Carolina recently increased the minimum requirements for UM/UIM coverage. State law now mandates a minimum of $50,000 per person and $100,000 per accident for injuries. The minimum for property damage is $50,000. Your policy should include UM/UIM coverage equal to or greater than your own liability coverage to ensure adequate protection.

The Importance of UM/UIM Coverage

UM/UIM coverage acts as a safety net and extends protection to passengers in your vehicle. This coverage is especially beneficial for individuals without health insurance or those with high-deductible health plans. Without UM/UIM coverage, you and your passengers could face significant financial burdens from medical bills and property damage.

Let Jim Boyce Insurance help you select an auto insurance policy with sufficient limits to protect your health and financial investment. Contact our Matthews, NC office today to schedule an appointment and learn more about your options.

Does Umbrella Insurance Cover You When You Travel?

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Planning a trip is always exciting—whether it’s a weekend getaway or a month-long overseas adventure. Amid booking flights and packing bags, it’s easy to overlook an important question: does your umbrella insurance follow you when you leave home? At Jim Boyce Insurance in Matthews, NC, we often hear this question, and the answer might surprise you.

What Does Umbrella Insurance Cover?

Umbrella insurance provides extra liability coverage that goes beyond your home, auto, or boat policies. Think of it as a financial safety net that steps in when your other policies reach their limits. It can help cover legal fees, medical bills, and damages if you’re found responsible for an accident or injury. But does this protection extend beyond your local area?

Does Umbrella Insurance Travel With You?

Good news: in most cases, umbrella insurance does cover you when you travel—both domestically and internationally. This means that if you’re on vacation and accidentally injure someone or damage property, your umbrella policy can help cover the costs. However, every policy is unique, and exclusions may apply depending on the situation or location. It’s always a good idea to review your coverage details before you travel.

Travel with Peace of Mind

Traveling should be about exploring, relaxing, and creating memories—not worrying about liability issues. With the right umbrella insurance in place, you can enjoy your trip knowing you’re protected from unexpected events.

If you’re planning a trip and want to ensure your coverage is up to date, contact Jim Boyce Insurance in Matthews, NC, today. Let us help you travel with confidence and peace of mind.

What to Do After a Fire or Flood in Your Apartment: A Renter’s Response Plan

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Experiencing a fire or flood in your apartment can be overwhelming. Whether it’s minor water damage or a significant disaster, knowing what steps to take can make all the difference. At Jim Boyce Insurance in Matthews, NC, we believe that being prepared is just as important as having the right renters’ insurance.

Safety Comes First

Your safety and the safety of your loved ones should always be the top priority. If the situation is still unfolding, evacuate immediately and contact emergency services. Once the immediate danger has passed, avoid re-entering your apartment until authorities confirm it is safe. Structural damage or lingering hazards can pose serious risks.

Document Everything

After ensuring your safety, take detailed photos or videos of the damage. This documentation is essential for filing a renters’ insurance claim. Capture both wide shots and close-ups of damaged items. Even minor damage should be recorded—it’s better to have too much documentation than too little.

Contact Your Insurance Agent

Reach out to your renters’ insurance provider as soon as possible. At Jim Boyce Insurance, we guide our clients through every step of the claims process, from assessing damage to replacing lost or damaged belongings. Promptly reporting the incident can help expedite your recovery.

Take Care of Temporary Needs

If your apartment is uninhabitable, your renters’ insurance policy may cover temporary housing and living expenses. Keep receipts for hotel stays, meals, and other essentials, as these costs are often reimbursable under your policy.

Dealing with a fire or flood is never easy, but having a plan—and the right coverage—can help you recover more quickly. If you have questions about your renters’ insurance or need assistance after a disaster, Jim Boyce Insurance in Matthews, NC, is here to help. Contact us today for support and guidance.

Does Flood Insurance Cover Damage From All Heavy Rainfall?

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Floods are notorious for leaving behind a trail of destruction. Buildings collapse, electrical systems fail, and homeowners often return to salvage what they can and begin the rebuilding process. However, heavy rainfall can also cause significant damage. Will your flood insurance help if there’s no officially declared flood in Matthews, NC?

What Does Flood Insurance Typically Cover?

Flood insurance is designed to cover damage caused by water that accumulates on the ground or seeps up from the ground. It typically includes coverage for water damage resulting from heavy rainfall, storm surges, or overflowing rivers and lakes. However, flood insurance does not cover all types of water damage, even if it occurs during a flood.

Wind-Driven Rain Damage

Flood insurance generally excludes coverage for wind-driven rain damage or standard rain damage. For instance, if wind blows rain through a hole in your house, this type of damage may not be covered by flood insurance. Similarly, water damage caused by a leaking roof during a flood may also be excluded. Jim Boyce Insurance can help you understand the specific exclusions in your flood insurance policy.

Exploring Other Insurance Options

It’s important to recognize that you may need multiple types of insurance to cover different types of damage. Flood insurance often helps cover structural damage and items like replacing electrical systems. Meanwhile, many homeowners’ insurance policies offer personal property protection, which can help replace belongings damaged during a disaster.

If you live in an area prone to flooding, it’s crucial to consult with a professional at Jim Boyce Insurance. Our experienced representatives can guide you through the various types of insurance available to ensure you have the right coverage to rebuild after a natural disaster. Contact us today to learn more about your options. Jim Boyce proudly serves the Matthews, NC, area.

Does RV Insurance Cover Damage to My Car While Towed?

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Traveling through North Carolina and the rest of the great American open roads with your RV can be an adventure, especially if you’re towing a car behind you. This affords you the convenience of simpler travel for smaller side trips. Whether you’re headed to the mountains or parked at a local campground, you might wonder: if something happens to the towed vehicle, will your RV insurance cover it? Jim Boyce Insurance, serving Matthews, NC, has the answer.

Towed Vehicles Aren’t Always Covered

Most RV insurance policies are designed to protect the motorhome itself, covering collision, liability, and comprehensive losses. However, that coverage typically does not extend to a vehicle towing behind the RV. If your car is damaged while being towed, the RV policy won’t automatically cover it unless your carrier offers a specific endorsement or add-on.

Depending on Your Auto Insurance

In many cases, the coverage for your towed car comes from your existing auto insurance policy. This means if your car is damaged while in tow—due to an accident, road debris, or another hazard—your car’s comprehensive or collision coverage would apply. That said, confirming that your policy remains active and includes the proper protection even when the vehicle isn’t being driven is important.

Additional Coverage May Be Available

Some RV insurance providers offer special options to extend limited coverage to towed vehicles. These options could include liability protection or even physical damage coverage in certain situations. These options vary, so it’s best to review your policy with an agent.

If you regularly tow a car with your RV, speak with your insurance agent at Jim Boyce Insurance, serving Matthews, NC, about how to best protect your RV and your towed vehicle. A quick review of your policies can help prevent surprises and give you a sense of security every time you hit the road.

Does Motorcycle Insurance Cover Accessory Damage or Loss?

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Motorcycle owners often form a strong bond with their bikes, similar to how car owners might name their cars and treat them like an extended member of the family. For motorcycle riders, investing a lot of time and money into customizing their bikes is quite common. Whether it’s adding saddlebags for storage, upgrading to a more comfortable seat, or installing a GPS system, these extras can add up quickly. Naturally, one question arises whether these accessories are covered by motorcycle insurance from Jim Boyce Insurance serving Matthews, NC. The answer truly depends on the type of coverage you have.

Adding Accessory Coverage

Many insurers offer optional "accessory coverage" or "custom parts and equipment coverage " to fully protect a bike owner’s motorcycle accessories. This coverage can be added to your policy to increase the protection limit for non-factory parts, including saddlebags, windshields, lighting kits, custom paint, or electronics. Coverage typically applies whether the loss is due to a crash, theft, vandalism, or other covered incident.

What to Know Before You Add Coverage

When considering accessory coverage, keeping an updated list of all non-standard parts installed on your motorcycle is helpful. Keeping receipts and photos, even if they include you or a friend enjoying the bike, can make the claim process easier if you ever need to file one.

Your motorcycle is more than just a mode of transportation—it reflects your personal style and interests. Accessory coverage gives you reassurance knowing that the time and money you’ve invested in customizations are protected. Talk to your insurance provider at Jim Boyce Insurance, serving Matthews, NC, to review your current policy and ensure your accessories are fully covered.

Unexpected Liability Risks: Why Umbrella Insurance is a Smart Investment in Matthews, NC

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Did you know that your home and auto insurance may not actually be enough to protect you from financial ruin in Matthews, NC? No matter how much you plan, there are unexpected liability risks. The only thing you can do is be smart about your investments. That’s why we recommend umbrella insurance at Jim Boyce Insurance.

Understanding an Umbrella Policy

An umbrella policy provides added financial protection beyond what your standard policies offer. While it’s great that you have auto and home insurance, an umbrella policy is only used if you exceed the coverage limits of your existing policies.

Think of it as your final source of protection against massive financial loss. You shouldn’t have to go bankrupt because of one accident, right?

How an Umbrella Policy Protects Against the Unexpected

Liability risks are everywhere. We can’t anticipate when or how bad they’ll happen. The only thing we can do is be smart about how we protect ourselves in the event that they do.

Even the best laid policies for auto, home, boat, and other insurance products can leave you vulnerable. You choose coverage levels based on what you think might happen.

If an accident results in a massive lawsuit, extensive medical bills, or significant damage and repairs, your umbrella insurance is what kicks in to save you.

Explore Umbrella Insurance Today

While you hope that you never have an accident that drains the coverage of a particular policy, there’s no telling what could happen in Matthews, NC. Make a smart investment by exploring an umbrella insurance policy. At Jim Boyce Insurance, our agents can guide you through the considerations when choosing coverage and get you various quotes.

Contact us today to find out the many ways we can help!