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Four Important Considerations When You Purchase Boat Insurance

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If you own any type of watercraft, you should have boat insurance. Oak Ridge Insurance Services is an insurance company that provides boat insurance. If you own a boat and live in the Oak Ridge, NC area, you can speak with us about the boat insurance coverage options we provide.

Here are four important factors to consider when purchasing boat insurance:

The Waters Through Which You Will Travel

One of the most important things boat owners should know about insurance is that it is typically limited to specific navigation territories. When you buy boat insurance, you should tell the insurance company where you intend to use your watercraft so that your boat is covered whenever you use it.

The Value Of The Boat That’s Being Insured

When it comes to collision coverage for your boat insurance policy, you should purchase enough coverage to cover the full value of your watercraft in case you need to file a claim. 

The Seasons During Which The Boat Is Used

Many boat owners use their vessels only during certain months of the year. If you keep your boat in storage for the majority of the year, you should talk to your boat insurance provider about it. You may be able to pause coverage or pay lower premiums during the months when your boat is in storage.

The Types of Coverage to Include

Boat insurance coverage options include collision, liability, fuel spill, and wreckage removal. You must decide what types of coverage you want in your policy.

Contact Us Today

Allow us to assist you in meeting your boat insurance needs in Oak Ridge, NC. If you contact Oak Ridge Insurance Services, we can provide you with a quote for boat insurance.

Types of Perils Umbrella Insurance Commonly Won’t Cover

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Just as it’s important to know what is covered under your various insurances, it is equally as vital to understand what won’t be covered. Umbrella insurance policies can attach to just about any type of indemnification that you have already purchased. 

Umbrella Insurance Exclusions

Generally speaking, your umbrella insurance will not pay for situations that are related to crimes committed or fraud. When relating to business ventures, you may encounter situations where you have been the victim of libel or slander, and it can extend to the court costs involved in fighting these actions, but not if you have been the perpetrator. 

Umbrella insurance also will not usually cover your own injuries in the event of an accident, but when attached to your liability indemnification, will be applied to pay the medical expenses and lost wages of the other driver. In addition, it will not cover repairs to your vehicle but only that of the person you hit. 

You may encounter problems associated with contracts that can cost your business money, but these are typically outside the purview of umbrella insurance. Your Oak Ridge Insurance Services agent can be of assistance when detailing the complete list of covered perils and those that are not included. Additionally, umbrella insurance is not a requirement by law for those living in the Oak Ridge, NC region but is entirely voluntary. 

Umbrella insurance may not be available for every type of watercraft, and there will generally be exclusions based on the size and category of the vessel. 

Oak Ridge Insurance Services Is Here To Help

We are pleased to offer insurance products and services to our clients living in and around the Oak Ridge, NC area. We invite you to stop in to discuss your situation further or to reach us online or by telephone. 

Do Retired People Need Life Insurance?

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Retired people often wonder if life insurance is a necessary investment, and this decision may be impacted by the fact that this benefit was, perhaps, provided by one’s job formerly. After retirement, however, life insurance is a provision that takes the financial burden off of loved ones to pay for burial expenses. It is also a good option for sending adult children to college and helping to ensure their futures. 

Life insurance is not a requirement by law for those living in Oak Ridge, NC, but many choose to pass down wealth to their families in this way. Your Oak Ridge Insurance Services representative can go over the various options available to you. 

Why Life Insurance?

Very often, you may have a spouse who is dependent on the income you are currently bringing in through your pension or social security. You may also be the parent of a special-needs child for whom ongoing support will be necessary. 

A life insurance policy can give your beneficiaries choices, such as paying off a mortgage and securing a place to live. It can assist with paying off any credit cards you have or student loan debt, which is especially important for your surviving spouse’s credit score if any of these are jointly held. Estate taxes can also come out of the death benefit. 

You may be able to leave behind the payout in the form of a lump sum or an annuity that is paid out yearly in installments, providing reliable income to your surviving relatives. 

Oak Ridge Insurance Services Is Here To Help

We help customers obtain the insurance products and services they need to be protected in all facets of life. We invite you to reach out to us to discuss your situation, and we serve those living in the Oak Ridge, NC region. 

Do I need auto liability insurance if my car is paid for?

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Auto liability insurance is required in almost every state. However, drivers are often confused about the purpose of auto liability insurance. Liability insurance is designed to cover property damage, personal injury, and damage to someone else’s car. It’s not designed to cover your car, personal injuries, or property.

If you want coverage for your car, you will need to purchase insurance for your car. Our Oak Ridge, NC team at Oak Ridge Insurance Services can help insurance people get the coverage they need to meet their unique needs.

Liability vs Full Coverage Auto Insurance?

Most states require drivers to carry auto liability insurance. All North Carolina drivers must carry liability insurance. However, liability coverage is designed to protect the other driver when you cause an accident or personal injury. Liability provides no personal injury or property damage coverage for you or your car. 

Conversely, full coverage auto insurance covers both you and other drivers. Full coverage insurance includes liability coverage as well as coverage for your car and personal injuries. Full coverage insurance also includes coverage for theft, vandalism, and some natural disasters. 

Do I need auto liability insurance if my car is paid for?

Yes. You still need liability insurance if your car is paid for. Liability insurance doesn’t cover damage, personal injury, or property damage for you, but instead for the other driver. It has no benefit beyond liability protection for you.

However, if you finance your car, your lender will more than likely require you to carry both liability insurance as well as full coverage insurance to protect your car. Auto liability insurance is required in most states. However, it provides no coverage beyond liability protection for the driver.

Contact Us Today

If you have questions regarding liability insurance, call us at Oak Ridge Insurance Services in Oak Ridge, NC. We’d be happy to answer your questions. 

How can a commercial insurance policy cover my North Carolina business?

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Oak Ridge, NC continues to be a growing community with plenty of opportunities for small business owners. Those that are going to start a business here will need to ensure they are insured with a quality insurance plan. A full commercial insurance policy offers a variety of forms of coverage that will help to fully protect your business in this state. 

Why Commercial Insurance?

Ensure Business Assets are Covered

One of the ways that you can benefit from having a commercial insurance policy is by getting protection for your business. If you are going to run a company, you need to invest in various assets to help grow and develop your organization. Due to the importance of these assets, ensuring they are protected and covered needs to be a top priority. 

Offset Liability Risks

It would also be a good idea to have a commercial insurance policy to offset your liability risks. Those who are going to run a business in North Carolina will need to ensure they are mitigating their risk of liability. If you are insured with a commercial insurance policy, it will include a section for liability insurance that will offer the support you need if you are determined to be responsible for an accident that results in a loss for another person or company. 

Contact Us Today

There are many great reasons for a business to have a commercial insurance policy. If you are looking to get this type of insurance in Oak Ridge, NC, it would be a good idea to call Oak Ridge Insurance Services. There are a lot of choices to make when looking for a new commercial insurance policy and Oak Ridge Insurance Services offers all of the support that you will need to create a new plan and properly support your business. 

Three misconceptions you shouldn’t believe about home insurance

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Any homeowner needs to understand the importance of purchasing home insurance. If you own a home in Oak Ridge, NC, you can buy home insurance from us at Oak Ridge Insurance Services.

Homeowners should know that there are a lot of misconceptions out there regarding home insurance.

Below are three misconceptions you shouldn’t believe about home insurance:

You must purchase home insurance

Although purchasing home insurance is always advisable, you are not technically required by law to purchase this type of insurance.

However, mortgage lenders do require borrowers to have home insurance. Therefore, you are required by your lender to carry home insurance until you’ve completely paid off your mortgage loan. 

Your home insurance policy will always cover you for items that are stolen from your home

It’s true that home insurance covers you for items that are stolen from your home. However, there are policy maximums in place that limit the amount that your policy will cover when it comes to stolen items.

If you have especially valuable items in your home like art collections or jewelry, you should make sure that you have enough personal property coverage to cover the full value of these items. 

Your home insurance policy will cover you for damage caused by pests

A standard home insurance policy does not cover you for damage caused by pests. That’s why it’s so important to maintain your home properly to prevent pest infestations. 

Get Home Insurance Today

When you’re ready to get a quote on a home insurance policy for your property in Oak Ridge, NC, call or email us at Oak Ridge Insurance Services. We’ll provide you with the home insurance you need to protect the investment you’ve made in your property. 

Why You May Need Classic Car Insurance

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If you have a classic car, you need to have it covered with the best insurance policy possible. Classic cars often represent a significant investment, and your classic car insurance has to take that into account. For a classic car, it isn’t enough to have a regular auto policy. You specifically need a classic car policy. If you don’t have the insurance policy that you need, give us a call at Oak Ridge Insurance Services in Oak Ridge, NC.

Classic Car Policies

If you have a standard auto insurance policy on your classic car, it isn’t likely to pay out what the car is actually worth if a problem happens to it. When you get a regular auto policy, the coverage is based on the age of the car, its condition, and how many miles it has. When you go by these criteria, it may not reflect what the car is actually worth as a classic that is sought after. You need a policy that will take into account the popularity of the car and how much people are really willing to pay for it. Aspects of the car like its mileage may factor into its value, but many other factors are important when the car is a classic. This can mean its place in popular culture or the scarcity of that model of car. When you have a classic car insurance policy, all of these factors are considered, and the policy is written for the specific car rather than being a generic value. 

Stay Insured

The amount of coverage is so important because you may be in an accident that damages or destroys the car. This would be extremely expensive for you if you didn’t have this important coverage. You need to stay covered with a classic car policy so that your investment in your car is protected. 

Get Classic Car Insurance

To get your coverage, call us at Oak Ridge Insurance Services in Oak Ridge, NC.

Renters Insurance FAQs

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Renters are an independent sort and, obviously, they are very confident as well, since only 40% of them have renters’ insurance compared to 93% of homeowners. Not having renters insurance is risky. At Oak Ridge Insurance Services in Oak Ridge, NC, we try to explain the value of renters insurance to our customers. We can provide lots of affordable choices to provide the necessary protection. 

Renters Insurance FAQs

Can you count on your landlord for insurance?

You can count on your landlord to have insurance on their building and any of the built-ins or appliances that your rental comes with. They will not, however, cover your personal property. That is your responsibility. 

What are the types of content coverage? 

Two types of content coverage are available. You can choose a replacement or current value. The difference is the current value allows for depreciation, so if you have a 10-year-old sofa, that will be reflected in the amount you get for it. With replacement cost, you will be covered for the amount it would cost to buy that sofa today. 

What is loss of use insurance?

If your rental was damaged so badly that you could no longer occupy it, where would you stay? If you have renters insurance, you could stay at a hotel or a temporary rental unit and even get money for meals if you are without a way to cook. 

Why do I need liability insurance for my rental?

Nobody likes to think about the possibility of being sued by someone who comes to our home. Unfortunately, it does happen and this insurance will provide the money you need for legal fees and a judgment against you or just for injuries. 

Contact Oak Ridge Insurance Services in Oak Ridge, NC to discuss how renters insurance can be of great value to you. 

What Are The Different Types Of Boat Insurance?

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If you’re a boat owner in Oak Ridge, NC it’s important to have boat insurance. But what kind of policy should you get? There are several different types of boat insurance, each offering different protection. Consult with Oak Ridge Insurance Services for expert insurance advice.

Here are the different types of boat insurance that you can choose from:

1. Liability Insurance

Liability insurance is the most common type of boat insurance. It protects you from financial damages if you’re held responsible for an accident.

For example, let’s say you’re out on your boat and accidentally collide with another vessel. If the other boat sustains damage or someone is injured, liability insurance will help pay for the repairs or medical bills. Liability insurance also covers you if you damage someone else’s property with your boat.

2. Collision and Comprehensive Insurance

Collision and comprehensive insurance is similar to the coverage you have on your car. It covers damage to your boat caused by things like accidents, storms, fire, theft, or vandalism.

Comprehensive insurance also covers you if your boat is damaged while in storage. This type of coverage is not required by law, but it’s a good idea if you want to protect your investment.

3. Uninsured and Underinsured Motorist Coverage

This coverage protects you when you get into an accident with a driver who lacks sufficient insurance to cover the damages. For example, let’s say you’re in a boat accident that wasn’t your fault, but the other driver only has liability insurance. If the damage to your boat exceeds the other driver’s policy limit, you could be stuck with a huge bill. However, if you have this coverage from Oak Ridge Insurance Services, your insurance will help pay for the damages.

Give Us A Call

There are several different types of boat insurance, each offering different protection. Be sure to talk to your Oak Ridge Insurance Services agent in Oak Ridge, NC about which type of policy is right for you.

Do I Need Umbrella Insurance?

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Umbrella insurance can help protect your home or company if your insurance plan has a major claim or goes out of business. Umbrella plans are different from other types of coverage because they are governed by a contract. 

Umbrella plans are often expensive, costing 10% to 20% more than other types of coverage. Due to this, it’s important to compare them to other options and consider their cost before purchasing one. For inquiries in Oak Ridge, NC and the surrounding areas, call Oak Ridge Insurance Services. 

Umbrella Insurance: What You Need to Know 

The unfortunate fact is that a variety of natural disasters can happen at any time, and they may not be predictable. No matter when a disaster strikes, it’s important to be prepared. 

Many homeowners purchase Homeowner’s Insurance to protect their property against perils like fire, storms, and earthquakes. But what about other disasters like floods, ice storms, or solar flares? What if you’re not sure when these types of disasters will strike, and you want to be prepared? 

Umbrella insurance is designed to protect you from financial risk if your primary insurance policy does not cover a certain risk. Unfortunately, you can be struck by a car and end up in the hospital. 

You’re investing in your future, and with that comes the responsibility of protecting that investment. That’s why you may consider protecting your home or business with an umbrella insurance policy. 

Umbrella insurance is typically more expensive than basic home insurance, but it’s a valuable policy you can’t live without. 

Contact Us Today

There are many different types of insurance that you can buy, and many people think that you don’t need any of them. This couldn’t be further from the truth! 

Even though it’s a common misconception, you do need to have some form of insurance. Umbrella insurance is one of the most common types of insurance, and it’s a great place to start. For expert help, consult Oak Ridge Insurance Services, a company serving in Oak Ridge, NC.

Brent Schroyer

Brent Schroyer

Insurance Advisor
Chastity Spofford

Chastity Spofford

Insurance Specialist

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