Homeowners & Renters
We educate people on the best ways to protect their homes, families, and assets.
Getting from Point A to Point B can be stressful. We help people protect their vehicles and passengers.
You worked hard for your assets; protect them with extra liability coverage in the event of a loss.
Most frequently asked questions regarding coverages and policies.
Homeowners & Renters
Not all homes are built the same, and not all homeowners policies are created equal. Did you know that there are multiple types of homeowners plans available? For example, some offer increased coverage amounts on guns and jewelry. Some offer mortgage expense coverage in the event of a total loss. Some offer personal injury for slander and defamation, violation of privacy, etc. You can even endorse identity theft protection on most homeowners plans now. All of these are reasons to consult with one of CCIA’s risk management professionals.
Automobile insurance also has a broad range of coverage options that may be available to you. It’s important to carry limits appropriate for your risk tolerance. Bodily injury and property damage claims are larger in today’s market, thus increasing the need to be properly insured. In addition to the appropriate liability limits, it’s important to consult with a CCIA representative about the other endorsements available to you. Endorsements such as Repair and Replacement or Accident Forgiveness.
Repair & Replacement
Agreed Value vs. Actual Cash Value
Actual Cash Value or ACV is the replacement cost minus depreciation. Depreciation being the decrease in value over a period of time, usually as a result of age or wear and tear. Replacement cost is defined as the cost to replace damaged property with materials of like kind and quality.
Agreed Value is when coverage is provided for a pre-determined amount settled upon by both the insured and the insurance company.
What is an Umbrella Policy?
Umbrella insurance is a form of liability insurance that will supplement all of your primary liability policies, such as auto, home, boat, etc. However, the limits under an umbrella policy will be higher than your underlying liability limits. The main purpose of the umbrella policy is to protect your assets from an unforeseen loss in which you are responsible.
Frequently Asked Questions
- What does Homeowner’s Insurance Cover? Covered losses such as, fire, theft, and hail to your property, which includes the dwelling and personal property inside the dwelling. Homeowners may also cover buildings on the premises, such as storage buildings.
- Am I required to carry Homeowners Insurance? In most cases where there is a mortgage or loan on the property, you are required to carry the coverage. However, if there is not a loan of any sort on the property you would not be required to carry it, but your investment would not be protected in the event of covered damage or for any liability claims against you.
- How much coverage will I need under my homeowner's insurance policy? When you schedule a consultation with one of our experienced representatives they will review your home and exposures to help determine the insurable amount you may need to cover your assets.
- What is NOT COVERED under a homeowners policy? Typically, homeowners insurance will not cover against earthquake, flood, normal wear and tear, or damage caused by the negligence of the homeowner.
- How long should it take to secure an auto quote? In most cases, a quote can be provided in person or over the phone/email within 5-10 minutes if the requestor has all the pertinent information for the quote (names, dates of birth, license numbers, and vehicle/coverage info)
- Is it mandatory for me to have auto insurance? Yes, it is required in the State of North Carolina for you to carry, at minimum, liability coverage.
- Who needs to be included on my policy? Any licensed drivers in your household that may drive the vehicles listed on your policy
- Does my credit score affect my insurance premium? Yes, your credit score is taken into account when determining your insurance premium
- What is an Umbrella policy? An umbrella policy gives extra liability coverage in an extension of the coverage you already have under a home, auto, boat, etc to protect you against large claims for injury or property damage that may have been your fault.
- How much Umbrella coverage will I need? We typically recommend $1 million to $2 million in Umbrella coverage. You will need to carry a minimum of $300,000 personal liability on your underlying homeowners policy and $250,000 per person and $500,000 per accident limit under your personal auto policy.
Other Insurance Products
From liability to asset protection, every business has unique needs. Talk to our agents that specialize in helping to protect your business.
Personal insurance is more than just Home and Auto. Our agents understand that insurance is about protecting the people, places, and things around us.
When businesses have very unique needs, we have agents with the experience necessary to help you make sound decisions on complex coverage options.