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What kind of insurance do I need to legally drive in North Carolina?

Drivers who want to legally drive in the state of North Carolina must meet specific insurance requirements. Oak Ridge Insurance Services is committed to helping all Oak Ridge, NC residents obtain the auto insurance needed to legally drive within the state. As with most states, all North Carolina drivers must meet the state minimum auto insurance requirements before they can operate a vehicle on the streets, roads, and highways of NC. 

North Carolina Auto Insurance Requirements

North Carolina residents must carry auto liability insurance for bodily injury and property damage, in addition to uninsured/underinsured motorist coverage. Bodily injury liability coverage must be maintained in the amount of $30K per person and $60K per accident. Property damage coverage must meet the state minimum coverage requirements in the amount of $25K. 

The state minimum requirements for uninsured/underinsured motorists must be maintained at $30K per person and $60K per accident, just like bodily injury liability insurance.’ Uninsured/underinsured motorists’ coverage must be maintained at $25K for property damage. Uninsured/underinsured motorists’ insurance is designed to pay medical bills if you or anyone in your car is injured in an auto accident with another uninsured or underinsured driver. This insurance will also pay for any repairs to your car as a result of the damage caused by an accident. 

Other Considerations

North Carolina drivers should also understand that failure to maintain the state minimum auto insurance requirements can result in fines and other punitive measures. Once your insurance lapses, your insurance company is required to report the lapse to the DMV. From that point, you have ten days to reinstate your insurance or obtain new auto insurance to meet the state minimum requirement and provide proof of coverage to the DMV. If you have questions regarding what’s legally required to operate a vehicle in NC, give us a call. Our team at Oak Ridge Insurance Services is standing by.


What Types of Businesses Need Commercial Insurance?

There are many types of businesses, each with its own unique need for insurance. But what types of companies are most likely to need commercial insurance? Here are a few examples.

1. Restaurants

As any restaurant owner knows, there are a lot of liabilities associated with running a food service establishment. From slips and falls in the kitchen to food poisoning outbreaks, restaurants can be sued for just about anything. Commercial insurance can help protect the business from these risks.

2. Retail Stores

Retail stores face many of the same risks as restaurants, but they also have unique dangers to worry about, such as theft and vandalism. A good commercial insurance policy can help protect the store’s assets in an incident.

3. Warehouses

In addition to theft and vandalism, warehouses have a few other risks, such as explosions and fire damage. Commercial insurance can help protect the business from all of these hazards.

4. Manufacturing Facilities

These businesses face different risks, including employee injuries or accidents on company property. Commercial insurance can help provide the business with an adequate safety net to guard against this risk.

5. Special Events

People who organize large events, such as concerts and festivals, need to ensure a policy that can adequately protect them from any lawsuits stemming from incidents at their special events. Whether it’s a slip and fall or something more serious, commercial insurance can help cover the liability.

6. Construction Companies

Construction companies are at risk for all kinds of losses, including accidents on-site or equipment failure that causes injury. Commercial insurance can help protect workers in these cases.

All businesses, regardless of what they manufacture, sell or provide, can benefit from commercial insurance. Commercial insurance is simply a means of protecting the business against various types of risk that it might face in day-to-day operations. Contact Oak Ridge Insurance Services to learn more about commercial insurance.

We’re a leading commercial insurance provider for small to medium-sized businesses in Oak Ridge, NC. We’ll help you find the right policy for your needs and budget. Give us a call today.

Buying A Home? What You Need To Know Before Purchasing A Homeowners Insurance Policy

Buying a new home is exciting, but it can also be scary. Purchasing the right homeowner’s insurance policy can help you feel safe and secure that your finances are protected in the event that something goes wrong with your new home. Here, we’ll take a look at everything you need to know about buying a homeowner’s insurance policy. 

Figure Out What Coverage Level Makes Sense For You

Homeowner’s insurance isn’t just about the cost of your home itself—it’s also about the cost of the possessions that you’ll store inside your home. Work closely with your insurance agent to discuss the level of coverage that makes the most sense to protect your home and the physical assets that you’ll store inside the home.

Learn More About Policy Options

There’s not a one-size-fits-all insurance policy. Talk with your insurance agent about what type of policy makes the most sense for you. If you’re purchasing a condo, for example, you may want to choose an insurance policy that’s specific to your needs. 

Consider Your Deductible

A lower deductible may result in a higher monthly cost but can make sense if you can afford to do so. When you pay a higher monthly cost, you’ll pay a lower deductible in the event that something goes wrong. This can make it easier to handle necessary repairs that are covered by your insurance policy. 

Buying A Home? We’re Here To Help

Oak Ridge Insurance Services, serving Oak Ridge, NC, is here to help you prepare to move into your new home by helping you explore your homeowner’s policy insurance options. Reach out or stop in today to get more information. 

Is my old car eligible for classic car insurance?

Those interested in obtaining classic car insurance should first understand that simply having an older car doesn’t necessarily make your car eligible for this type of insurance. There are other requirements. Although the requirements can vary from company to company, there are some requirements that tend to be universal when it comes to classic car insurance. Our team at Oak Ridge Insurance Services is committed to educating our Oak Ridge, NC customers on the requirements of classic car insurance. 

What is Classic Car Insurance?

First of all, your car must be restored to or kept in good condition to qualify as a classic car. Classic cars are usually anywhere from 15 to 20 years old, but less than 40 years old. As a general rule of thumb, classic cars are usually at least twenty years old. Most classic car insurance policies will insure a car that’s not a daily driver and is driven 5,000 miles or less a year.  The original design and specifications should also be kept.  However, as stated above, the requirements may vary from company to company. That is why it’s a good idea to shop around.

How Does Classic Car Insurance Work?

Classic car insurance operates on the premise that both the car owner and the insurance company agree on the value of the car. Your classic car is appraised and an agreed-upon value is assessed. This differs from conventional car insurance. Classic car insurance also provides services tailored to the needs of older/classic cars. Your insurance company may provide expert exotic/classic car repair as well as coverage for displaying your classic car at car shows. If you have questions about classic car insurance, the requirements, and what’s covered, give us a call. Our team at Oak Ridge Insurance Services is standing by. 

Does auto insurance cover a rental car?

Auto insurance adds a lot of protection to your vehicle. But does that protection extend to a rental vehicle?  As more and more people decide the time is right to head out for a vacation, that question comes up quite frequently. At Oak Ridge Insurance Services in Oak Ridge, NC, we are independent insurance agents and that means we work for you, not the insurance companies. We can offer you more choices and customize your policy to your particular needs. 

Whether or not your auto insurance covers a rental vehicle depends on the type of insurance that you have on your own vehicle. If you have basic coverage, which is strictly liability coverage, it is going to partially cover you but not completely. The reality is, if you are comfortable with the amount of liability coverage that you have on your vehicle, then you won’t need liability coverage on a rental vehicle. 

More importantly, is whether or not your auto insurance will cover the vehicle you are renting. You need to have collision and comprehensive coverage to be fully protected and the car rental company will need to see proof that you have that coverage. You can opt to accept the collision damage waiver which is offered by the rental car company. This takes away the stress and worry of whether you will need to pay for any small or major repair that could result from even a minor fender bender. 

You can also check with your credit card company to see if you have car rental coverage. This is an option that you may not have even considered. Generally speaking, if you have full coverage on your personal auto insurance policy, it will cover a rental car. 

Contact Oak Ridge Insurance Services in Oak Ridge, NC when you want to discuss your auto insurance needs. 

Is Commercial Insurance a Worthwhile Investment?

In a bid to keep the expenses under control, most business owners are likely to put commercial insurance under the wraps. While this might seem like a wise cost-saving strategy, it will end up in tears when the unthinkable strikes your business. Despite how busy or budget-strapped you are, always create room for business insurance.

Commercial insurance from Oak Ridge Insurance Services in Oak Ridge, NC, is an asset for your business because it covers you in the following areas.

Workers protection

Where would your business be were it not for your employees? Without your staff, your efforts would be zero. Nada. For this reason, you should invest in worker’s comp insurance to protect your employees from illnesses and work-related injuries.

Liability protection

Business insurance protects your business from various liabilities, including property damage, bodily, and advertising injury. Also, business insurance comes to your rescue when sued by other people.

It’s a legal requirement

Some aspects of commercial insurance are required by law. For instance, all businesses must invest in commercial auto insurance and worker’s comp insurance to avoid non-compliance fines and penalties.

Cushions you from financial losses

Were it not for commercial insurance, most businesses would have gone under due to financial distress. Think of the financial loss it would cost you when lawsuits, liabilities, and employee injuries come knocking on your doors? What about a fire that consumes your assets?

Not many businesses can cope with the full wrath of business risks.

To boost your reputation

Customers and suppliers need to deal with credible businesses. One way to boost your credibility is by investing in commercial insurance. With commercial insurance, stakeholders are assured that their interests are always protected.

Buy commercial insurance today!

Are you ready to protect your Oak Ridge, NC business with commercial insurance? Please get in touch with Oak Ridge Insurance Services for affordable commercial insurance coverage.

How to create and store a home inventory

Your home may be your castle, but that castle can fall victim to many hazards. If you ever need to file a claim, and 10%of homeowners do file claims every year, you will need some proof of what you lost. Your home inventory will be what you turn to when you need that proof. Oak Ridge Insurance Services in Oak Ridge, NC is your local independent insurance agency. We can craft a plan that gives you the right coverage at the best price. 

A home inventory is a record of all the items you own. Once you start making it, you will be surprised by how much you own. It is most likely a lot more than you would ever suspect. You can do a traditional inventory with a pen and pad or a digital one. No matter what option you choose, you need to accompany it with photos and receipts. 

Start in the room of your choice and write down everything you see. Open closets and drawers. Give as much detail as possible. The better your inventory, the better your end results will be. When it comes to electronics, giving brand name, model and serial numbers will help. If you have expensive items, have an appraisal to maximize your benefits. 

Make sure you go to your attic, basement, and garage. Once you have everything listed, you need to store your inventory someplace where it won’t be destroyed if your home is a total loss. Making a copy and placing it in the cloud works. If you don’t have a cloud, a waterproof and fire-resistant box is an option or a safe deposit box. 

It does take time to make an inventory, but if you ever need it, you will be very grateful.

Contact Oak Ridge Insurance Services in Oak Ridge, NC for all your insurance needs. 

Should You Buy Classic Car Insurance for an Older and Rougher Model?

Many classic car collectors keep their vehicles looking perfect for ensuring that their value remains high. But what if your car was just declared a classic, and it is in rough condition? Do you need an insurance policy? We at Oak Ridge Insurance Services, serving Oak Ridge, NC, think that you do. And here is why we suggest getting a policy. 

Why Classic Car Insurance is Wise 

Classic car insurance for an old and rough vehicle is a wise decision for many reasons. Just a few things it will do includes how it:

  • Helps Pay for Upgrades – Some insurance policies may help pay for upgrades to your classic car to enhance its value.
  • Ensures Your Car is Protected – Classic cars need specialized insurance options to protect them from long-term damage issues common to these vehicles.
  • Minimizes Your Cost Angle – Cut down on the amount of money you have to pay for your car and keep it looking great. 

Even if you don’t plan to get into a long-term classic car collection, protecting the one car you own is a wise choice. For example, it can ensure that your vehicle is strong, secure, and more than worth the money they want to spend if someone comes looking to purchase it from you.

We Can Help You 

As you can see, insuring even a rough car is a wise decision that will cut back on many of your expenses in a powerful way. So, if you’re interested in getting classic car insurance and want to make sure that it is as high-quality as possible, contact us at Oak Ridge Insurance Services to learn more. We serve the Oak Ridge, NC, area and will do what we can to help your car stay solid and secure.

4 Boat Insurance Must-Know Tips Before A Day On The Water

Buying that boat was a lifelong dream come true! Before you set sail, you will need to bring along more than sunscreen for a day on the water. There is much more to boating than climbing aboard.

The knowledgeable and helpful agents at Oak Ridge Insurance Services want to share some important must-know tips about boat insurance. Here are 4 boat insurance must-know tips before a day on the water.

  1. Get boat insurance before you hit the water. You will need to know the size, type value of the boat for your agent to determine what type of insurance and how much you will need. Some small boats may be covered under a homeowner’s policy. While large yachts or speed boats will need a separate policy.
  2. What does boat insurance cover for an Oak Ridge, NC boat owner? Boat insurance policies will pay the cost to replace a vessel less depreciation. A partial or total loss will be calculated differently. Policies typically cover theft, bodily injury, liability, medical, towing, trailer and accessories, and loss or theft of belongings.
  3. Safety First – Always follow best practices for boat safety. Watch your speed, watch the weather, and never drive while drinking too much alcohol.
  4. You May Qualify For A Discount – Always ask if there are discounts that you qualify for. For instance, if you have ship-to-shore radios or Coast Guard-approved fire extinguishers, you may qualify. If you are operating a diesel-powered boat, it is not as dangerous as a gasoline-powered one. If you have taken boating education classes or have years of experience you may have earned a discount as well.

Make sure you’re covered before you hit the water. Contact Oak Ridge Insurance Services serving Oak Ridge, NC before you set sail.

Who needs umbrella insurance in North Carolina?

If you are in the Oak Ridge, NC area, spending time to consider your insurance needs is a good idea. A form of coverage that many people will benefit from having is umbrella insurance coverage. This is a form of liability insurance that will provide coverage for a wide range of risks, which offers some valuable protection and support to policyholders in the area. There are a few reasons people here will want to have this protection. 

Coverage Protects Against Major Claims

A reason to have an umbrella insurance plan is that the coverage will give protection against major claims. Most people are going to have personal liability coverage included with their auto or home insurance plans. However, there is always a chance damage in an accident can exceed these levels. Fortunately, if you do have appropriate coverage, you will have protection against these claims. 

Coverage Offers Support for Wider Mix of Risks

You should also get an umbrella insurance plan to get support for a wider mix of risks. With an umbrella coverage plan, your liability support will include many risks that are not included under other standard insurance plans. This can help ensure you remain properly insured and prepared for situations and risks that are otherwise unexpected. 

Having an umbrella insurance plan in place can benefit many people in the Oak Ridge, NC area. If you would like to get a new plan in this area, calling Oak Ridge Insurance Services can be very helpful. As you are looking for umbrella coverage, you can quickly find out that there are a lot of choices to make. The team with Oak Ridge Insurance Services can help you assess your situation and give the support needed to choose a plan that meets your needs.

Brent Schroyer

Brent Schroyer

Insurance Advisor
Chastity Spofford

Chastity Spofford

Insurance Specialist

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