Renters Insurance and Displacement Benefits: What You Need to Know

There are many benefits associated with renters insurance that you may not be aware of. At Jim Boyce Insurance, serving Matthews, NC, we believe it is important that you understand the benefits of the insurance products you purchase. With that being said, one of the benefits of renters insurance that you may not be aware of is displacement benefits. Here is some key information you should know about renters insurance and displacement benefits. 

What Are Displacement Benefits? 

Displacement benefits help to pay your living costs above and beyond what you normally pay in rent in the event that the home you are renting becomes inhabitable during the course of your lease due to a covered event. Having to pay for a few nights at a hotel or renting out a short term rental can be pricey. Your renter’s insurance policy helps to cover these extra costs, so an unexpected event does not financially impact you. 

When Might Displacement Benefits Be Needed? 

There are many reasons why displacement benefits may be needed. If the home you are renting catches fire and has severe damage, you may need somewhere to live while repairs are being made or you search for a new rental. The same is true if a pipe bursts in the home and causes a large amount of damage. Some policies may also provide displacement services if mold is found in the home, allowing you to stay out until it is safely removed. 

No one plans on something catastrophic happening to the place that they are renting. Having renters insurance can help you in case the unexpected becomes a reality. If you are a renter who does not have renters insurance in the greater Matthews, NC area, now may be the time to start thinking about purchasing a policy. Contact Jim Boyce Insurance today for a free estimate. 

How flood insurance in North Carolina can protect you.

When you buy a home you know that you are making a major purchase and investment. Along with this, you need to make sure that you are doing everything that you can to protect your asset. One of the best ways to do this today is by getting a flood insurance policy. A flood insurance policy can protect you a number of different ways. 

Protect Your Home

The main way that flood insurance in North Carolina can protect you is by protecting your investment in your home. Due to the proximity to the ocean, many people in North Carolina are in flood zones that have a higher chance of being impacted by major storms. If your home is damaged by a flood, the impact could be catastrophic. The flood insurance policy will give you the protection that you need to either repair or completely replace your home if it is damaged by a flood.

Ensures Compliance

Having flood insurance can also protect you by ensuring that you are in compliance with all regulations. When you purchase a home there is a good chance that you took out a mortgage. If the mortgage was insured by the FHA, the lender will undoubtedly require that you have flood insurance if you live in a flood zone. When you have this insurance in place, you can stay in compliance with your policy. 

When you are looking for flood insurance in the Charlotte, NC area, you should speak with the team at the Jim Boyce Insurance agency. The professionals at Jim Boyce Insurance will be able to provide you with the support that you need to pick a quality flood insurance policy. This will help to ensure that your Charlotte, NC area home is properly covered and protected. 

Is Charlotte, NC The Recreational Vehicle Capitol of America?

I See A Lot Of RV’s Around Here

With all, there is to do in our beautiful corner of the country RVing is a popular pastime. Getting out on the open road and enjoying various campsites and landmarks  Falls dead center into what we call fun. You may decide to take a recreational vehicle across the country. No need for a hotel or motel when you have your personal accommodations traveling along with you. No matter how you’d like to enjoy your RV it is made just for that purpose. Getting out there and seeing it for yourself. Though you may see a lot of recreational vehicles around Charlotte we are not the recreational RV capital of the country. Believe it or not, the region of the country that can boast the highest RV ownership is out west.  Next in ranking order is the midwest and then the south after that comes the northeast. That can be attributed to the weather, a strange coincidence or just a regional state of mind that fixes on camping.

 Insuring your RV is a simple process as long as you know how you want your vehicle to function. Do you plan on renting the vehicle or driving cross country or driving internationally? Come into your insurance office with that information. 

At Jim Boyce Insurance we promise to make you feel good about your decision to purchase insurance for your recreational vehicle.  We have been serving Charlotte, NC since 1973, so we know the area and we know the needs of the residents. With more than 75 years of experience, we can help you insure your automobile, home, business, life, classic car,  and motorcycle. We also underwrite flood insurance products. Stop by today, we’ll see you soon.

3 Reasons You Need Motorcyle Insurance Today

As fun as they can be dangerous, motorcycles are unique vehicles with unique insurance coverage needs. For residents of Charlotte, NC, the following is an overview of 3 reasons you need to purchase motorcycle insurance today. 

Affordable and Flexible

One of the top reasons you need motorcycle insurance is that it is affordable and flexible. Unlike other types of insurance, you have a lot more options with regard to limits, deductibles, discounts, etc.  Purchasing a motorcycle insurance policy will likely be a much easier process than other more common types of coverage.

Liability Coverage

No matter how skilled of a driver you are, accidents still happen. In the event that the accident is caused by you, you will certainly want to make sure you are properly covered. Otherwise, you could be on the hook for property damages, costly medical bills, and much more.

Protect Against Other Damages

Moreover, there are plenty of ways in which your motorcycle could become damaged outside of an accident. For instance, your bike could be vandalized, it could catch on fire, be stolen, and more. By purchasing a motorcycle insurance policy, you will make sure your bike is covered even if it becomes damaged in other ways.

Overall, for residents of Charlotte, NC Jim Boyce Insurance is a great option for securing motorcycle coverage. Simply call, email them, or visit the office today to find out how you can start your policy at once and save. There is no need to worry about your motorcycle coverage any longer. Contact  Jim Boyce Insurance to start your policy on your terms and as soon as possible. 

Why the Additional Coverage of Umbrella Insurance is Smart

You may have heard the term umbrella insurance but felt adequately protected with your current home and auto coverage.  So, you may be surprised when you agent at Jim Boyce Insurance suggested that you consider the additional protection that umbrella insurance provides.  Your existing home and auto liability coverage protects in the event of an accident where you are found to be at fault.  Umbrella insurance, as a secondary liability policy, significantly extends that coverage with a minimal investment.  In the Charlotte, NC area, the agents can show you in detail how this type of policy works for you. 

When you most need the help, an umbrella policy provides extended coverage to protect your assets.  In an accident situation, either a car wreck or on your property, where you are found to be at fault, you will be responsible for the repairs and medical expenses of the other party.   Should they decide to sue, you could also be held responsible for their legal fees, as well as your own.  Between vehicle repair, medical care and rehab, legal fees and potentially an award for damages, it’s easy to see that the liability policy allowances can quickly be exhausted.  When that happens, you’re responsible for the additional expenses. 

An umbrella policy changes this situation.  For instance, say your home policy has a liability coverage limit of $350,000.  If someone is injured and you are responsible, your home insurance policy will go into effect.  When the policy’s limits are reached, the umbrella policy will kick in with additional coverage to protect you.  They also can have clauses that provide for libel or slander cases.

The team at Jim Boyce Insurance in the Charlotte, NC area are ready to help you get the coverage you need.  Give them a call and visit them today.

I Just Rented My First Apartment – What Do I Need to Discuss During My Insurance Consultation?

Hey, fellow North Carolinians we’re here for you.  Jim Boyce Insurance in Charlotte, NC encourages all renters to acquire renters insurance as soon as possible. Whether you decide to purchase the insurance before you sign the lease or after making it one of the first decisions you make as an apartment renter. 

When you consult with an insurance agent be ready to discuss:

  • the location of your apartment 
  • If you will be living with another person (such as a roommate, co-tenant or even a family member) – the agent would be interested in knowing that information
  • a comprehensive and accurate listing of the personal property that you would like protected

The personal property that you would like protected is an essential part of your initial consultation. If you have items of great value you may want to take out additional insurance specifically for those items the insurance agent will also be interested to know if you have any type of security measures at your apartment.

  • Is there a secure place as part of your rental agreement or is there a security guard present on the property? Is there a place to keep your valuables with the new apartment? These are some items that your insurance agent will be curious to know in order to best serve and protect your assets. 

Located in Charlotte, NC, Jim Boyce Insurance specializes in various types of insurance. Among these are auto, flood, umbrella, life, home, motorcycle, business, recreational vehicle and classic car insurances. Stop by our office today or call us to discuss how we can make your experience as an apartment renter the very best it can be.

3 Advantages Of Classic Car Insurance

If you treasure your collector cars, you surely want to be able to maintain them for as long as possible.

If you use them regularly for fun or for display in Charlotte, NC, you also want to keep them insured. Regular auto insurance won’t do your classic car any justice, though. Here’s why you should consider a classic car policy like the ones from Jim Boyce Insurance instead

1. An Agreed-upon Valuation Of Your Classic Car

When you use your everyday modern car on a regular basis, its value depreciates. Typically, as soon as you drive your car off the dealership’s lot, the value depreciates.

The exact opposite is true with classic or antique cars, though. The longer you keep them in good condition, the more they are worth.

Classic car insurance providers take this fact into consideration. When you purchase your policy, you and your insurer agree upon the value of your car. the insurance company doesn’t decide an arbitrary valuation; the car’s value in its current state is well-researched, and you, the customer, agrees to the value listed on the insurance policy prior to purchasing it.

2. Roadside Assistance

If you use regular auto insurance for your classic car, you might have to pay a lot out of pocket if the car breaks down in the middle of the road.

You also don’t want a random repair person to carelessly troubleshoot your classic engine. Therefore, classic car insurance coverage may also come with the benefit of roadside assistance.

If your collector car breaks down, an experienced classic car technician is sent out to aid you. He’ll help you transport the car to the shop of your choosing, or bring it back home for you. Some policies even offer troubleshooting services, where the technician can fix the issue at the expense of your insurance.

3. Coverage For Spare parts

If you’re an avid classic car collector, you know that spare parts for these automobiles are expensive and hard to find.

It’s a huge advantage when a classic car insurance policy can provide coverage for spare parts. Typically, you are in control of what to purchase and where. then, the insurance reimburses you for the cost of the parts.

Are You Ready To Invest In Classic Car Insurance?

If you’re ready to take advantage of all the perks that a classic car insurance policy has to offer in Charlotte, NC, call your local Jim Boyce Insurance agent today. Your friendly agent can walk you through getting the best possible protection for your vintage beauty.

Should A Life Insurance Policy Be Part Of Retirement Planning?

Retirement planning can be a tricky for a Charlotte, NC senior. While Jim Boyce Insurance is able to provide assistance, there are certain elements of the process that can remain confusing. Fortunately, your decision is even easier than you may have realized.

Is a Life Insurance Policy a Necessary Aspect of Retirement Planning?

In a word? Yes. There are a number of people who view retirement planning and life insurance policies as separate entities but they are more closely intertwined than most are aware of. Life insurance is usually viewed as a means of keeping a family protected after the policyholder has passed away. 

However, life insurance is a much more important aspect of retirement planning. It should be considered an integral aspect of any retirement plan and those who allow themselves to believe otherwise are placing themselves in a precarious position going forward.

Why Is a Life Insurance Policy So Important?

Proper utilization of life insurance policies allows for a far more comprehensive retirement plan. Loved ones are able to recover from any financial risks that are created. Unexpected costs are handled far more easily. As our lives begin to change, our financial situations change as well. Having a life insurance policy that reflects these changes is pivotal. 

By choosing the correct form of life insurance, you are not only making life easier in the present…you are ensuring the future financial stability of the people you care about most. Income is protected, tax-free cash flow is provided and tax concerns are managed far more easily. The peace of mind that is created is something that you cannot put a price on. 

Charlotte, NC residents who are looking for additional guidance on the life insurance policy and retirement planning are welcome to contact the good folks at Jim Boyce Insurance as soon as possible. 

My Kids Have Moved Out, Do I Need To Review My Home Insurance?

Any time that there is a major life change, it’s important to review your insurance. Since you want home insurance that you can rely on in Charlotte, NC, you should review your policy once your kids move out. Independent insurance agents at Jim Boyce Insurance can help you, too.

Your home insurance policy in Charlotte, NC may have coverage that you no longer need. For example, you may have had a high-value rider on your insurance policy to cover the valuables belonging to your kids. Now that they have moved out and taken all of their electronics with them, you need to consider conducting a new home inventory.

You may also want to make some modifications to your home. With the new found money of not having kids in the house, you might want to build a detached garage or install a swimming pool. Any changes to your property need to be updated in your home insurance policy.

When you first get a home insurance policy, you identify that you have kids. It could affect your liability coverage and more. Once they move out, it might actually save you some money by not having them under your roof. If you can save a little money, you will want to take that opportunity.

Policies change all the time. Since your kids moving out is a big deal, it only makes sense that you review your policy to see if some changes need to be made to the coverage levels. Some levels may need to go up while others can go down.

At Jim Boyce Insurance, we’re here to help you every step of the way. Let a professional independent insurance agent review your policy and help you add or drop coverage to ensure you have the coverage you need without paying for what you don’t need.

 

 

Can Your Business Survive Without Commercial Insurance?

Many small business owners think that insurance is too expensive or that they can just go without it.  But what they don’t realize is that four out of ten business will experience a property or liability loss in the next ten years. Topping the list for most common is burglary and theft but thanks to the internet age the most costly for small business owners is reputation harm that includes violation of privacy, libel, and slander coming in at a whopping $50k. The majority of small businesses would not be able to survive such a claim, and some may not have the funds or resources to keep the doors open after some of these other costly scenarios either. At Jim Boyce Insurance we are here to provide Charlotte, NC business owners with tools they need to run a successful business. 

Most Costly Reported Claims 

  • Reputation Harm ($50,000) Less than 5% of all claims filed 
  • Vehicle Accident ($45,000) Less than 5% of all claims filed 
  • Product Liability ($35,000) Less than 5% of all claims filed 
  • Fire ($35,000) 10% of all claims filed 
  • Customer Injury or Damage ($30,000) Less than 5% of all claims filed 
  • Wind and Hail Damage ($26,000) 15% of all claims filed 
  • Customer Slip and Fall ($20,000) 10% of all claims filed 
  • Water and Freezing Damage ($17,000) 15% of all claims filed 
  • Struck by an Object ($10,000) Less than 5% of all claims filed 
  • Burglary and Theft ($8,000) 20% of all claims filed 

It’s important to note that these numbers only represent those that carry commercial insurance and have filed claims. These situations play out every day for those that don’t have insurance as well.  

Could your business survive if you have you had one of the above happen to you? At Jim Boyce Insurance we want to make sure Charlotte, NC businesses are protected.