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Consent to Rate Letter -North Carolina

Insurance rates in North Carolina can be confusing, especially when working with an online company. Using an independent insurance agent can help in navigating your way through these tough times in the insurance industry. As claims rise and underfunding prevails, the insurance companies are looking for new ways to increase their rates outside the scope of what is regulated by the state.

Each state is different in how it determines its rates. In North Carolina, for example, the insurance rates are set by the North Carolina Rate Bureau. The Bureau tells the insurance companies the maximum rates they can charge consumers for home and auto policies. Your insurance company can decide they want to charge you a higher rate depending on several factors. But, they can’t charge this additional rate without your consent.

Consent to Rate Letter

That’s where the “Consent to Rate” letter comes into play. If the insurance company deems you a high risk, a “Consent to Rate”letter will be mailed to you. The letter will basically ask you to give the insurance company permission to charge you rates on your policy that exceed the state maximums. When you sign and return this letter you are essentially giving the insurance company your permission to be charged rates higher than those established by your insurance commissioner. This letter can be held in your file until the insurance company deems it necessary to use.

Why the Higher Rates?

Why would your insurance company ask to charge you a higher rate? There are a few factors they consider before mailing the Consent to Rate letter. Insurance companies are singling out high risk insurers for numerous reasons:

-Your home is located in a storm area susceptible to tropical storm surges or hurricanes.

-Your insurance company deems you high risk because of numerous claims

-Some insurance companies are looking at your credit score to determine their risk in insuring you

What is Final Expense Insurance?

With a final expense insurance policy from one of our life insurance carriers, you can have peace of mind knowing your loved ones will have the money they need to help cover your burial and other final expenses. Don't leave them with bills to pay - leave them with cash benefits that cover your final expenses.

Benefits: We have products to help cover final expenses which take into account your age and health. As long as premiums are paid on time, policies guarantee cash benefits between $2,000 and $50,000. Plus, there's no medical exam.

FAQs

Q: When is the best time to buy final expense insurance?
A: The sooner the better. Accidents and illness strike suddenly and without warning. Protect your loved ones from paying for your final expenses - we encourage you to get coverage today.

Q: Can I get final expense insurance if I already have life insurance?
A: Absolutely. This can be in addition to any other coverage you may already have.

Q: Will I need to take a medical exam before I can begin my coverage?
A: No, you will not.

Q: How much money will I need to cover a funeral?
A: The average cost of a funeral in 2009 was approximately $8,000*, but the cost is even higher in some areas of the country. This $8,000 may not include the cost for a burial plot or marker, And remember - the Social Security death benefit is only $255**

Q: Will my final expense insurance policy be cancelled if my health declines?
A: As long as you pay your premiums on time, your coverage will stay in force, even if there are drastic changes to your health.

Q: I like what I'm hearing about final expense insurance. What should I do next?
A: For immediate service, simply call us at 704-684-0082. You can also complete a "Quote Request" on our website.

Renters Insurance

Protect your apartment and your belongings from burglary, fire or other damage with a Renters Policy. This coverage is for:

• Personal property, wherever it may be.
• Loss of use, which covers the additional living expenses you incur due to temporary relocation.
• Personal liability for bodily injury, property damage or personal injury claims brought against you anywhere in the world.
• Medical payments to others who are injured in an accident arising from your premises or personal activities.

Extra Features

The Renters Policy protects you with many features, including:

• Coverage for loss due to theft, forgery or unauthorized use of a credit card and unknowingly accepting counterfeit money.
• Payment up to the personal property limit for loss to contents of a refrigerator or freezer from either power or mechanical failure.
• Coverage for theft of jewelry, watches and furs.
• Reimbursement for fire extinguisher recharge after a fire loss.
• Payment for replacement of automatic garage door transmitters which have been stolen. Coverage is also provided for cost to reprogram the frequency on additional transmitters and/or the control unit box.
• Coverage for theft of guns and related equipment.

Optional Coverages:

Some optional coverages you may choose to add to your Renters Policy include:

• Replacement cost settlement on personal property
• Sewer or drain backup
• Incidental business occupancy
• Earthquake coverage
• Scheduled personal property
• Expanded endorsement
• Identity recovery coverage

Need a quote? To get started, give us a call at 704-684-0082 or fill out our quote form.

NC Among Deadliest for Teenage Drivers

For Trey Ward, there’s no room for argument. The No. 1 rule when you get into his 1997 Chrysler: “No seat belt, no ride.”
Nationwide, North Carolina ranks fifth in fatal car accidents involving young occupants (16 or older), according to a new study released Monday by the National Highway Transportation Safety Administration. The study shows that young drivers and passengers around the country are more apt to not buckle up at night–males more that females. Two-thirds who died in accidents did not heed “click-it” pleas from parents and authorities.
In the 16-20 age group, 68 percent who died in car crashes at night in 2006 were unbuckled. In NC, of the 525 young people killed in nighttime accidents in 2006, 61 percent didn’t use selt belts. In all, 1,116 young NC people died in day and nighttime crashes that year. More than half weren’t buckled.
Another recent study by Allstate shows that Charlotte’s teen fatal crashes ranks ninth among the top 50 US metro areas. Speeding and not buckling up contributed to 80 percent of Charlotte’s teen driving deaths, the study showed.