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Does Homeowners Insurance Cover My Liability While Remodeling?

Remodeling or renovating your Oak Ridge, NC home raises your home’s value and creates an exciting new living space for you. It does require a bit more liability coverage while undergoing construction. At Oak Ridge Insurance Services, we want you to understand why you need to temporarily increase your liability coverage during the remodeling process.

Home Insurance Liability Coverage

While undergoing remodeling, a homeowner should increase their liability coverage because of the increased number of people in their home and the dangers of the work involved. The person doing the work for you should carry their own business liability policy, but many independent handypeople do not.

Although every licensed and certified contractor must carry liability insurance in the US, individuals who refer to themselves by the generic term “handyman” don’t carry licenses or trade certifications nor must they purchase insurance. Why the difference?

Licensed Contractors Carry Their Own Liability

Licensed contractors attend a trade school for a specific job, such as a plumber, electrician, masonry, master carpentry, etc. They typically belong to a union, and those unions require certification. Each city creates its own building code which must meet its state’s building code and can exceed it. These codes require that a worker conducting renovation or construction work must carry a current license to do that job.

The state, city, and unions can create insurance requirements. To obtain a permit to do work on any building, these licensed individuals or homeowners must make an application and pay a fee. Without proof of licensing and insurance, they cannot obtain a permit. Only the homeowner can.

Most States Don’t Require Handypersons to Carry Insurance

Because handypersons don’t specialize, they cannot legally complete certain work. For example, a handyperson cannot legally install electrical wiring since they do not carry a license for that job. Hiring them for small jobs like fixing holes in drywall works great; avoid hiring them for large jobs that require specialization and license.

They might be an experienced do-it-yourselfers with no training and no professional experience, but they won’t get in trouble unless they use a professional title they did not earn, such as a plumber or master carpenter. These independent contractors rarely carry business liability insurance.

As long as you hire licensed union construction personnel, the general contractor will carry business liability. You should ask to see proof of their insurance before they start work. You should still increase your coverage temporarily, but you can probably get away with adding less than if you hired a handyperson who isn’t insured.

Home Insurance Revaluation Post-Remodeling

Also, when you finish your remodeling project, your home should undergo a re-valuation. This process ensures that you insure your home for its current value, not for the value that you originally purchased it. In case you need to file a claim, updating your home insurance covers your home’s full value.

Reach Out To Us

Protect your equity and your finances with home insurance for your Oak Ridge, NC home. Contact Oak Ridge Insurance Services today to make an appointment.

What Classic Car Insurance Misconceptions Should You Avoid?

You can’t rely on regular auto insurance to fully cover your classic car. However, you don’t need deep pockets for adequate coverage. If you think you can’t get insurance for your classic car, think again. Oak Ridge Insurance Services has the answers you need to debunk these myths about your restored antique vehicle.

Classic Car Insurance Misconceptions 

Classic Car Insurance Is Not Affordable (Not True)

Getting into an accident can set you back thousands of dollars without the right classic car insurance. Don’t let your hard work go to waste. Instead, protect your investment with coverage that meets your specific needs. One of our helpful agents can walk you through the different insurance options available and within your budget.

You Can’t Qualify for Classic Car Insurance (Probably Wrong)

Insurance companies that offer classic car insurance understand that you have an older vehicle. Different rules apply to your rebuilt sports car or vintage Mustang. Therefore, these policies are built and priced to meet the needs of classic car enthusiasts.

It’s Similar to Regular Auto Insurance

Your regular insurance policy won’t cover your classic car. So, you need a policy geared for a well-maintained, show-ready vehicle that happens to have many years under its tires.  Under typical car insurance, you can drive your vehicle regularly without affecting your coverage. In fact, it’s designed for frequent usage. However, classic car insurance comes with mileage and other restrictions. Our agents can walk you through the differences between regular and classic car insurance in Oak Ridge, NC.

It’s for Rich People

Unless you’re independently wealthy, chances are you made some sacrifices to buy and maintain your classic car. You don’t have to be rich to afford protection for your vintage vehicle. Speak to your insurance representative about cost-effective ways to protect your vehicle.

Give Us A Call

Contact Oak Ridge Insurance Services to discuss your auto and classic car insurance needs in Oak Ridge, NC.

4 Reasons Why You Never Want To Be Without Renters Insurance

Many landlords now require proof of renters insurance before handing over the keys to the unit; however, consider whether you could afford to replace all of your belongings, from furniture to clothes to electronics, if your Oak Ridge, NC rental unit was damaged in a fire, vandalized, or any number of other covered incidents. 

Why Renters Insurance?

Don’t Count on your Landlord.

Just because your landlord has insurance on the condo, apartment, or house you’re renting doesn’t imply it covers your goods or protects you from liability in the event of an accident. The only way to avoid having to replace all of your belongings in the event of a tragedy or being sued because a third party was wounded on your property is to have insurance coverage.

It pays for disaster housing.

Assume your apartment has been destroyed by a fire and will be uninhabitable for one month while repairs are completed. If you do not have renters insurance in this circumstance, you will be responsible for paying for accommodation while you are evacuated.

It Covers You While on Vacation.

Many people choose not to acquire renters insurance because they travel frequently for work or pleasure and believe that coverage applies only when they are living in their rental; nevertheless, renters insurance protects you even if calamity strikes while you are away.

You have more property than you realize.

We’re not accusing you of being a hoarder, but most individuals own more than they realize, and the bills may soon add up. Renters insurance protects everything off your possessions, from shoes to a laptop.

Oak Ridge Insurance Services Is Here To Help!

We specialize in renters insurance at Oak Ridge Insurance Services in Oak Ridge, NC. Call us to find out how we can provide you with peace of mind. 

Four Important Considerations When You Purchase Boat Insurance

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

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?

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?

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?

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

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

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.

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