6 health factors that impact life insurance policy

Life insurance is important protection. Yet, for many, it’s also a mystery.

Most Americans have no clue how life insurance is calculated. In fact, many actually overestimate the cost. According to the Life Insurance Marketing and Research Association (LIMRA), this is a major reason why many Americans are uninsured.

Jim Boyce Insurance can determine what coverage you need. Known as underwriting, their experienced Matthews, NC professionals will evaluate risk factors to decide your insurance rates. While there are numerous items to consider, the agency lists six common factors that influence life insurance rates the most.

Policy type

Coverage limits and payout impact pricing. Term life insurance is often the least expensive since it provides coverage for a fixed term. By comparison, permanent life insurance policies cost much more since death benefits are guaranteed.

Age

Costs increase with age too. Younger individuals have longer life expectancies. Therefore, they also have more time to pay premiums. For this reason, locking in rates early is preferred.

Gender

On average, men pay more than women. Again, this is a direct result of life expectancy.

Medical History

Any agency will review your medical history. Any pre-existing conditions will increase rates. If you suffer from a life-threatening disease, like heart conditions or cancer, your policy could be denied altogether.

Family History

Insurers will examine your family’s health history as well. If you are at risk of developing issues later, this will likely influence your options.

Occupation & Lifestyle

Dangerous jobs raise the price of premiums. Agencies may look at other behavioral factors as well, like hobbies, criminal history, financial background, and driving records.

Schedule an appointment with Jim Boyce Insurance

Serving Matthews, NC, the agency can evaluate these factors and find an ideal life insurance policy that protects you and your family. Call today.

Why should someone get commercial insurance in North Carolina?

Those that are in the Matthews, NC area are going to find the community offers a lot of support for small businesses. If you are going to start a company when you are here, it is important that you always get the right insurance for it. With a commercial insurance plan, you can properly cover your organization. There are a few reasons that someone here should get commercial coverage.

Coverage Protects Company Assets

A reason that companies should insure their business is to ensure they get support and protection for their company assets. When you want to grow a business, you will have to purchase core assets for the company including equipment, inventory, and other major assets. With the right commercial insurance plan in place, you will get the coverage needed to protect these valuable assets.

Protect Against Risk of Liability

You should also get a commercial plan to ensure that you can protect against liability risk. If you want to operate a business, you will take on liability risks on a regular basis. If you are ever named in a liability lawsuit, having commercial coverage will be beneficial as it will ensure you are protected against these claims. Ultimately, it can help to protect the solvency of your organization. 

Business owners that are in the Matthews, NC area need to ensure they get the proper insurance in place. When you are looking to protect your business, a great place to start is by calling Jim Boyce Insurance. Anyone that does work with Jim Boyce Insurance will find the team offers various services that can help ensure your organization is protected. This includes helping you assess all of your options and needs to ensure you choose an ideal plan for your situation. 

Why should I have umbrella insurance?

When you are in the Matthews, NC area, having proper insurance protection continues to be very important. Those that live in this area of the state should consider getting an umbrella insurance plan, which is a personal liability insurance policy. There are several reasons why you should have an umbrella insurance policy in place when you are here. 

Coverage Protects for Serious Situations

A reason that you should always have an umbrella insurance plan is so you can get protection for serious situations in which you will have a significant liability claim against yourself. Anyone that is a property or vehicle owner will have liability coverage through their current insurance plans. However, there will always be scenarios in which damages in an accident can exceed the policy. In these cases, you will want to have umbrella insurance coverage as it will offer the additional protection needed. 

Coverage for More Scenarios

You should also have an umbrella insurance plan to get coverage for more scenarios. With an umbrella insurance policy, you can get coverage for situations that may not be covered under your other insurance plans. This can be quite helpful as it will provide you with peace of mind knowing that you are protected from situations that are less predictable. 

There are a lot of situations when having an umbrella insurance plan in the Matthews, NC area will be a good idea. If you are looking for this coverage here, you could find that calling Jim Boyce Insurance will be a great idea. The team with Jim Boyce Insurance understands the value of this coverage and can help you assess your needs. They can then give any support you need to build a plan that will ensure you are fully covered and have peace of mind. 

How Renters’ Insurance Protects You

When you rent a residence, having renters’ insurance is a must. It protects you in a number of ways, and it can ruin you financially if you don’t have this coverage. If you need renters insurance, contact us today at Jim Boyce Insurance in Matthews, NC. 

Renters’ Insurance for Your Belongings

Unlike home and condo insurance, renters’ insurance does not cover the building or unit that you live in. The landlord has to insure it and is responsible for fixing it after a disaster or calamity. However, like those policies, renters’ insurance covers the belongings that you have inside your home. If a serious incident should happen that ruins, or destroys, your possessions, your renters’ insurance will pay for you to replace them. This is important coverage for every renter, and no renter should be without it. 

Coverage for Your Liability

It is possible for a guest in your home to have an accident or get sick and for you to be found liable for it. This can mean lawsuits and huge legal and medical bills that you would be responsible for. However, renters’ insurance comes with coverage for that liability. If someone does get sick or injured in your rented home, your renters’ insurance liability coverage will pay for those bills up to the policy’s maximum so that you don’t have to. 

Insurance for Your Standard of Living

If a serious incident like a disaster or other tragedy were to occur and your rented home was left uninhabitable, you will have to live somewhere else while it is being fixed. Renters’ insurance can help in this situation as well. It pays for you to move out and to live elsewhere while the landlord has the rental fixed. This keeps you at a higher standard of living instead of forcing you to stay in a ruined home. 

Renters’ Insurance

If you don’t have renters’ insurance yet, call us at Jim Boyce Insurance in Matthews, NC.

Flood Insurance Explained

When floods strike, they result in property damage and even loss of lives. And woe unto you if you don’t have flood insurance for your home. Why? While you may have home insurance, it doesn’t protect you against floods. And if the federal state doesn’t declare that the floods in your area as a national disaster, you will have to finance repairs to your home from your pocket.

Understanding flood insurance can be frustrating if you are not familiar with this coverage. With this in mind, Jim Boyce Insurance of Matthews, NC wants to dissect flood insurance to its basics for you to understand it in detail.

What is flood insurance? 

If your home is damaged from water accumulation from the inside (perhaps due to faulty pipes), this is considered unexpected, and your typical homeowner’s insurance should pay for the damages. However, flooding from the outside is considered common, and in such instances, you need stand-alone flood insurance coverage to cover your damages. 

What does flood insurance cover?

Your flood insurance has two types of coverages, namely: dwelling coverage and contents coverage. The dwelling coverage protects your building structure, including the foundation, electrical and plumbing system, air conditioning system, cabinets, and other fixed appliances. If you get coverage from the National Flood Insurance Program (NFIP), your home is protected up to $250,000, but you can increase the limit at an additional premium.

The contents coverage protects your assets, including clothing, furniture, electronics, curtains, portable appliances, and other assets. The maximum coverage limit is $100,000.

  • Pro-tip: Since flood insurance requires 30 days to come into effect, you need to avoid a last-minute rush if you want optimal coverage. 

Is flood insurance mandatory?

No law in North Carolina requires homeowners to purchase flood insurance. However, you may need flood insurance if a mortgage finances your house. 

Buy flood insurance today!

Because every home is at risk of flooding, you need to protect your home with flood insurance? If you are in Matthews, NC, and its environs, please talk to Jim Boyce Insurance for an affordable flood insurance quote. 

What Does an Umbrella Policy Cover?

At Jim Boyce Insurance, we’re a committed insurance company that offers the best to our clients. That is why we have been offering umbrella insurance to our customers in Matthews, NC. 

What is Umbrella Insurance?

Traditionally, most insurance policies have some limits. This means that there is an extent to which they will not cover. This is where umbrella insurance comes in. It helps you cater to expenses that have gone beyond the standard limit of your insurance policies.

If you already have an insurance policy, it doesn’t mean that you’re fully covered. You should make sure that you have umbrella insurance for complete coverage. Here are some of the areas where umbrella insurance will cover. 

Bodily Injury Liability

Bodily injury liability is coverage that helps you to cover for the injuries you have inflicted on another person. It involves medical expenses and compensation for lost wages. If your bodily injury liability is exhausted, umbrella insurance will come in handy and help you to cover such expenses. 

Property Damage Liability

If you damage other people’s property, your property damage liability helps you out by taking care of the necessary repairs or replacements. However, such liabilities might be too much to cover using your property damage liability. Umbrella insurance will cater to the extra costs that your policy is not covering. 

Personal Injuries

If you get injuries in a car accident, your auto insurance is supposed to cover your medical expenses and any other arising charges. However, when your injuries are severe, personal injury protection might not be enough. Instead of paying out-of-pocket, you can use umbrella insurance to cater for such expenses.

If you live in Matthews, NC, you cannot afford to live with the fear that your insurance policies might not provide full coverage. At Jim Boyce Insurance, we will help you get umbrella insurance to cater to what goes beyond your limits.

Understanding North Carolina’s Helmet Law

Jim Boyce Insurance is committed to the safety of our Matthews, NC motorcyclist customers. According to the North Carolina Department of Motor Vehicles, one in five motorcycle crashes will cause neck or head injuries. These types of injuries account for the most fatal injuries to motorcyclists. This is why North Carolina law requires a motorcycle operator and all passengers to wear a helmet while riding. 

Choosing The Right Type Of Helmet

Motorcycle safety helmets must conform to the Federal Motor Vehicle Safety standard number 218. The standards apply to all styles of the helmet including three-quarter and full face. These requirements include:

  • Thick Inner Liner  – Each helmet must have a 1inch thick polystyrene foam inner liner. You should be able to feel the thickness of the liner as you wear the helmet.
  • DOT sticker – A compliant helmet will have a DOT symbol sticker permanently installed on the back of the helmet. Purchasing a sticker separately does not mean the helmet is compliant.
  • Manufacturer’s Label – This label found on the inside of the helmet will contain important information such as the manufacturer’s name, model, and date of manufacture. It will also include the type of shell and liner used in the helmet’s construction and instruction label for maintaining the helmet.

Other Important Safety Features

The helmet should fit snugly All the way around your head. There should be no obvious defect such as frayed straps, loose padding, or cracks. Helmets should always be securely fastened, so they won’t be lost during a crash.

Eye and face protection are an important consideration. Goggles or shatter-resistant face shields protect your entire face during an accident. They also protect you from general hazards while riding such as wind, dirt, rain, and insects.

If you are a motorcyclist in the Matthews, NC area, please reach out to Jim Boyce Insurance today to learn more about motorcycle safety and insurance.

Benefits of Umbrella Insurance for NC Businesses

One hard lesson that many business owners learn is that commercial policies have coverage limits. This means that once a policy coverage level is reached, coverage is exhausted and liability falls to the policy owner. Fortunately, commercial umbrella policies are available to commercial policyholders whose primary policy is exhausted. Jim Boyce Insurance is here to provide the guidance and information necessary for Matthews, NC area business owners to determine if an umbrella policy is right for them.

Benefits of a Commercial Umbrella Policy

Liability insurance can make the difference between easily recovering from a catastrophic, covered event and failure. Too many businesses suffer from frivolous lawsuits or employee-driven issues that can quickly deplete their primary or basic commercial coverage. Those that have umbrella coverage are able to rest assured that if their primary policy is exhausted their hard work and business will remain protected. 

In today’s litigious environment, there are often unfair and unscrupulous lawsuits that can all but destroy a business. Whatever your industry, knowing that your firm will be protected to a higher level than a basic policy provides can offer peace of mind. When you know that you have the insurance protection that you need, you are able to fully focus on the important work of your business. 

Commercial coverage needs to be robust and comprehensive in order to provide adequate protection for many situations. Now is an ideal time to find out the umbrella policy options that are available to NC businesses. 

Find out more about the benefits of umbrella insurance today

If you are a business owner serving the greater Matthews, NC community, call Jim Boyce Insurance today and schedule a consultation. We can work with you to help you choose a robust insurance portfolio that covers your protection needs. 

Why should I get renters insurance?

People that are in the Matthews, NC area could be better off renting instead of buying in some cases. Those that rent will have more flexibility on an annual basis and will not have the same responsibilities as a property owner. Along with renting, you also need to get proper insurance. There are a few reasons that you should get a renters insurance plan when moving into a new home. 

Insurance Protects Personal Assets

A reason that you should get a renters insurance plan is that it can protect your personal assets. When you move into a new rental property, you are going to bring your furniture, electronics, and other assets that you will have invested a lot to acquire. If you do not have coverage and are a victim of theft, fire damage or another form of loss, you will not have coverage for these. With renters insurance, you can have coverage to replace these items. 

Insurance is Often Required

You will also want to get renters insurance as it could be a lease requirement. Many landlords require all tenants to get renters insurance. This coverage can help to provide liability protection for the tenant, which can ultimately protect the landlord as well. Usually, you will need to provide evidence of your coverage before moving into your new home. 

Anyone that wants to rent a home in the Matthews, NC area should spend time assessing their insurance needs. For those that are going to get coverage here, speaking with the team at Jim Boyce Insurance is a good option. The insurance professionals with Jim Boyce Insurance can help you assess your needs and build a plan that will provide the right coverage to ensure your assets are protected and you are in lease compliance. 

Exploring The Benefits Of Classic Car Insurance

For over 20 years, Jim Boyce Insurance has proudly served the Matthews, NC community.  We strive to ensure that our clients find the policies they need to protect their assets. As an independent agency, we have established partnerships with multiple carriers around the country.

The Benefits Of Classic Car Insurance

Your classic car is one of your most valuable possessions. In order to protect your investment, explore the benefits of classic car insurance. Classic car insurance helps you maintain the value of one of your most prized possessions. The state of North Carolina is known for its love of classic cars. Classic car insurance protects you as you travel to car shows in Matthews, NC and on other special occasions. In order for your vehicle to maintain its classic status, it’s important that you only drive it selectively. You should not use it as your everyday method of transportation. Your classic car policy will likely include a mileage limit that outlines the number of miles that you are allowed to put on your vehicle during the calendar year.

Classic car insurance does cover your vehicle in the unfortunate event that you are involved in a collision or if someone vandalizes your vehicle. Liability coverage protects you if you are involved in an accident and you cause someone to get injured or you cause damages to someone’s property. Storage coverage is important. As your classic car is such a valuable asset, you should store it somewhere safe and secure.

However, accidents can happen at any time. The policy covers your vehicle if the storage unit is damaged due to a fire or another type of natural disaster. This should give you peace of mind that you’ll be protected regardless if something unexpected happens.

Jim Boyce Insurance Will Help You Protect Your Asset

Visit our website today to learn more information on classic car insurance.