Insurance for Convenience Stores

Convenience stores in NC benefit from many of the specialized insurance services developed by Marshall Insurance' carriers for the retail grocery industry, including our knowledge of how to make your store safer.

Our customized programs feature coverage for: canopies, gas pumps and other outdoor property, high-crime periods, and liquor liability.

Coverage Highlights Basis of coverage Occurrence Coverage available Available coverage includes:

• Auto liability and physical damage
• Workers’ comp
• Umbrella
• Building and business personal property
• Gasoline pumps and canopy
• Business income actual loss sustained Coverage notes Key differentiators:
• Responsible claims handling — over 61% of liability claims closed at no payment
• Tailored accident prevention and safety programs
• Extensive industry experience

Specialized property coverage extension form Optional coverage available Includes:

•Liquor liability
•Market advantage enhanced coverage (includes 27 enhanced coverages, such as business income-civil authority — no waiting period, BI extended period of indemnity — 90 days)
•Building ordinance and law
•Money and securities
•Employee dishonesty
•Signs
•Computer coverage
•Food spoilage
•Utility services
•Identity recovery

Coverage extensions to qualified insured
• Businessowners’ policy (BOP)
• Package policy

Contact Us Today!

Phone: 704-684-0082

E-mail:  gary@marshallins.net

Website:  http://www.marshallins.net

Contact Form

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.

Garages & Auto Repair Shops

People come to auto service centers to have their vehicles repaired, not damaged. Unfortunately, accidents don’t just happen on the open road. Sometimes they happen in parking lots and repair bays.

At Marshall Insurance, we are proud to offer an exclusive auto service center insurance policy that can be tailored to meet the specific needs and risks of your shop. 

Our Garage/Auto Policy provides coverage for the legal liability of automobile dealers, garages, repair shops and service stations.

Coverage includes bodily injury and property damage arising out of garage related operations. It can also provide coverage for damage to customers’ autos and property, as well as damage to garage-owned autos. This coverage can be written in conjunction with business property coverages in order to provide a complete protection package for your business.

Contact us today to get a quote or to learn more about our comprehensive and affordable auto service station policy!  

Smoke Detector Safety

Most home fire deaths happen in the middle of the night between 10 p.m. and 6 a.m. A smoke detector can save your life by waking you and giving you time to escape. When purchasing a smoke alarm, look for one that is accepted by an independent testing facility such as Underwriters Laboratories or Factory Mutual.

Location, Testing and Maintenance!

The best place for your smoke alarms:
•On every level of your home, including the basement and workshop.
•Outside every bedroom.
•On the ceiling or on the wall, 6 to 12 inches below the ceiling. Keep detectors away from air vents.

Check the alarm batteries once a month by pressing the test button with your finger. The batteries should be replaced once a year.

You should clean the alarm by following the manufacturer’s instructions. The grillwork on the detector should be vacuumed periodically to keep it dust-free.

Preventing Nuisance Alarms To prevent false alarms, move the detector away from a kitchen or bathroom. You may also want to consider purchasing a smoke alarm, like a photoelectric, that’s less sensitive to common causes of false alarms. Some smoke alarms also are equipped with a silencing feature, so that nuisance alarms can be stopped quickly and easily

New Laws Regarding North Carolina Auto Insurance

Several new laws went into effect across North Carolina regarding your personal auto, insurance and other transportation issues;

1. License plate frames can no longer cover the state name or registration sticker. Initially drivers will get warnings through Nov. of 2010 then you may be subject to a fine.
2. Insured car owners now have a three day grace period after their registration expires to register the vehicle and obtain the required safety inspection.
3. Its now illegal to send text messages, e-mails and use the Internet while driving. This law applies even when the car is stopped at a traffic light. The penalty is a $100 fine.
4. Reptiles must be in secured containers while in transport. If the animal escapes and attacks someone, the owner can be charged with a misdemeanor.
5. Instead of the old safety inspection sticker in the window to remind you its time for another inspection the inspection is based on your registration renewal date. When you complete the inspection at a certified inspection station the information is loaded into a statewide database. Your registration cannot be renewed unless the inspection has been completed.

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.

Auto Accident Checklist

If you are involved in an accident:

• Remain calm and polite.
• Turn on your hazard lights.
• If safe to do so, move your vehicle away from traffic.
• Do not discuss who is at fault or your insurance limits.
• Do not leave the scene of the accident.

* Contact emergency personnel

• If anyone is injured, call 911 for medical assistance.
• Do not move an injured person.
• Give police your version of what happened.
• Obtain the police officer's name, department and incident number.

* Exchange information

• Vehicle owner's name, address, telephone and/or email address
• Insurance information (company and policy number)
• Other vehicle information (year, make, model and registration plate)
• Driver's name, address, telephone and/or email address (if different from the vehicle owner's information)
• Obtain contact information from passengers and/or witnesses.
• Note the accident location.

* Take photos/video if safe to do so

• Accident scene
• Traffic controls
• Street names
• Road conditions
• Vehicles and other property damage

*  Contact your insurance agent or insurance company!

* Download Auto Accident Checklist Form

Trampolines: Spotting Danger in Your Backyard

Using a trampoline is supposed to be fun. Children laugh and get more excited with each jump and tumble. While the popularity of trampolines among 8 to 15 year-olds is growing, many people are unaware that playing on trampolines can result in serious injuries including fractures, dislocations, muscle damage, and broken legs. Even worse, some trampoline injuries damage the neck or spinal cord, which can result in permanent paralysis.

Why are trampolines so dangerous? Part of the reason is the tremendous power generated when people jump on them. For example, an activity such as launching involves multiple people on the trampoline at once, creating an energy force strong enough to send a full-grown person five feet in the air. This energy force can also literally catapult a person off the equipment or send someone high enough to come crashing back down on another person.

The growing trend in trampoline use is leading to more injuries every year. The U.S. Consumer Product Safety Commission showed that the number of trampoline-related injuries treated in hospital emergency rooms had grown from 19,000 in 1976 to 91,870 injuries in 2001 (the latest statistics available). Because of the potential for injury, many groups including the American Academy of Pediatrics recommend against the use of trampolines at home. However, for people who do choose to have a trampoline, the following guidelines from the American Association of Orthopedic Surgeons may help prevent injuries:

• Make sure adults are present to supervise.
• Limit jumpers to one at a time.
• Post adult spotters around the trampoline to guard against falls.
• Use adequate protective padding for the trampoline's supporting bars, springs, and surrounding landing surfaces.
• Use protective equipment for somersaults and other high-risk maneuvers.
• Make sure the trampoline frame and mat are in good condition.
• Use a trampoline in well-lighted areas.
• Disable trampoline when not in use.

Insurance for Small Retail Businesses

Do you own a small retail business? Then you’ve probably found that there is no single insurance policy that suits all small businesses. While it’s important to purchase the financial protection of insurance, it’s even more crucial to purchase the right coverage for your business needs.

• Workers’ compensation: Typically, a North Carolina small business with three or more employees is required by law to have workers’ compensation. This form of insurance helps pays for an employee’s medical costs and other associated expenses if they are injured while performing their work duties.

• Liability coverage: Although liability coverage isn’t mandatory for most North Carolina businesses, it can be a crucial coverage if someone is injured while on your business premises and files a lawsuit against you and your business for damages.

• Contents coverage: This is a vital coverage for any business to consider purchasing. Electronic equipment such as printers, fax machines, photocopiers and computers are just a few of the expensive items that could be damaged or ruined by an unexpected event. Stock, inventory, interior decorations and shop fittings and fixtures are also items vulnerable to a disaster.

• Building and property coverage: The actual structure housing your business, gates, fences, freestanding walls and car park should all be considered for insurance coverage.

Purchasing the right insurance coverage for your business may be a matter of understanding the risks your business may face and purchasing coverage to financially safeguard your business against those potential risks. The wide variety of coverage available should make your insurance choices easier.

Understanding North Carolina Personal Auto Insurance

An auto insurance policy consists of six types of damage coverage:

Bodily injury liability: Covers your legal fees, court costs and compensation due to bodily injury claims brought against you.
Medical payments: Covers the medical expenses for injuries sustained by you, resident relatives and other people in your auto as the result of an accident. (Auto insurance coverage varies by state.)

Property damage liability: Covers your legal liability for property damage claims brought against you.

Collision: Coverage that pays for damage to your auto and its equipment caused by collision or upset.

Comprehensive: Coverage that pays for damage to your auto and its equipment not caused by collision or upset. This includes, but is not limited to damage from fire, theft, glass breakage, vandalism and damage that results from contact with persons, animals, birds or falling objects.

Uninsured and underinsured motorist coverage: Provides coverage when you are injured in an accident caused by another person who either has no auto insurance or who has lower insurance limits than you carry and which are insufficient to cover your damages. Some states require that this coverage also include property damage.

Below is list of discounts that you may qualify for:
• Safe Car Driver (no accidents or tickets)
• Multi-Car Discount
• Age 55 or Over
• Passive Restraints
• Anti-Theft Car Devices Discount
• Auto Anti-Lock Brakes
• Home-Auto Multi-Policy Discount
• Payment Plan Discount (pay in full discount)
• Advance Quote Discount
• Auto Accident Prevention Course
• Good Student Car Discount
• Driver Training
• Reduced Car Usage Discount

North Carolina Bonds

Let’s be clear: bonds are not insurance policies – they’re guarantees. It is not uncommon for business and contractors to have certain projects bonded to ensure they are completed, no matter what complications may arise. 

At Marshall Insurance, we specialize in providing both large and small businesses with the following bonds:

• Performance – to guarantee the performance of contractually agreed upon work
• Bid – guarantees the beginning of work following the winning of a bid
• Indemnity – guarantees any losses should a party fail to meet deadlines
• Payment – promises payment to all sub-contractors and vendors
• License/Permit – a bond guaranteed to a state or federal agency

Contact us to find out how our bonding services can be tailored to meet your specific needs.

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.

Cell Phones and Teen Drivers: A Dangerous Combination?

A new traffic study suggests NC teenagers have not paid much attention to state law that bans cell phone use by drivers under 18. The law went into effect in Dec. 2006.

A study was conducted by the UNC center and the Institute for Highway Safety. Researchers parked outside of 25 high schools discovered over 11% of teens were talking on cell phones while driving away from school.

Another study found 64% of teens were aware of the law forbidding cell phone use but only 39% of parents were aware of the ban.

Experts liken the use of cell phone while driving to have the same effects as being under the influence of alcohol.

Don’t Drive and Text!

How many times have you pulled up to a stop light and looked over to the next vehicle only to see someone texting away on their cell phone?

That will soon be illegal in NC.

Gov. Bev Perdue has signed a bill to prohibit the use of cell phones for texting while driving. The measure is set to go into effect Dec. 1 of this year.

Proponents claim that texting while driving diminishes your reaction time as much as being under the influence of alcohol. I think we all agree that is certainly can be a distraction.

Drivers caught texting would be subject to a $100 fine but no insurance points. Just about everyone agrees enforcement will be difficult.

Gary Sides - gary@marshallinsurance.com

5 Reasons You Should Get a Home Security System

You’ve been thinking about a home security system for some time, but you haven’t decided whether to make the commitment. On the one hand, you’d love the peace of mind it will provide. On the other, it could put a serious dent in your budget.

That said, it’s time to take a fresh look at some reasons you might want to install a system and pay the monthly monitoring fees. There’s also a reason why your system might end up costing you less than you might think.

Consider the following:

You can’t ignore the statistics

According to the FBI, a break-in occurs every 15 seconds in the U.S. The average loss from those incidents was $ 2,185. Those numbers could catch up with you sooner or later. A home security system will make it harder for criminals because the proper authorities will be notified at the first sign of an incident at your home. In the case of a home invasion, it is vital that you get help in a hurry.
But there’s another factor, too. Just having a security system sign in your yard and decals on your window, in many cases, will send criminals looking for the next house. They much prefer easy prey to a home with a security system.

What if criminals strike anyway?

There are two ways a security system can pay off in case burglars accept the challenge and break into your home. If your system has video surveillance, you’ll collect evidence that can be used by law enforcement agents to identify – and prosecute – the people that ransack your home and take your stuff.

The other way having a home security system can help is that some security providers have offers in which they will pay at least part of your deductible for your home insurance claim if your house is burglarized while the system is armed.

Systems don’t just prevent break-ins

Security systems don’t just protect you from break-ins. Many also have options to include sensors that detect smoke, carbon monoxide and other problems. Early warning of a fire can greatly reduce the damage you could suffer from a blaze. The carbon monoxide sensors can detect a menace that can affect your health with little or no warning. Many systems also have medical alert capacity in case you or an older relative suffers a problem.

Forget the creepiness factor

OK, this might seem a little Big Brother-like at first. But some security systems also allow you to monitor the comings and goings of people in your household. You’ll know when your ‘tween gets home from school. You can also tell when your teenager really got home on Friday night. All creepiness aside, this is important information for a parent.

A system can save you money

You’re convinced now that you need a system, but there is still the matter of the expense. However, buying a home security system actually could save you money elsewhere in your budget. Home insurance providers typically offer discounts for policyholders with monitored security systems. Will it offset the total cost of the system? No. But it will cut the price down enough that it could make a system fit within your price range.

Peace of mind is hard to quantify. But be sure to consider the question of buying a home security system from a number of perspectives before ruling it out.

Flood Insurance

Flood insurance provides protection for destruction and financial devastation caused by floods. Although it may not seem like much even a few inches of water can cause serious damage; resulting in thousands of dollars in repair and restoration costs. Homeowners insurance does not cover floods.

Purchasing a flood insurance policy through Marshall Insurance can protect you.
Although it may not seem as necessary as homeowners insurance, flood insurance is important if you want to keep your home safe and your possessions secure. Flood coverage offers protection against losses that result from heavy and lengthy rain falls, storm surges, blocked storm drainage systems, snow melts, etc.

Different types of policies are available based on your property’s location and flood history:

• Standard Flood Insurance Policies

  If you live in a community that participates in the National Flood Insurance Program (NFIP), your building and its contents can be covered by a standard flood insurance policy. The NFIP was established by the Federal Government to help communities who “voluntarily participate in the NFIP by adopting and enforcing floodplain management ordinances to reduce future flood damage.” To be considered a flood, the waters must cover at least two acres or affect at least two properties. You must apply for building coverage and contents coverage separately if you choose to invest in a standard flood insurance policy.

• Preferred Risk Flood Insurance Policies

  If your home or business is in a low or moderate risk zone, your building may qualify for a low-cost preferred risk policy. While you aren't required to purchase flood insurance in low-to-moderate risk areas, a preferred risk policy will protect your home and its contents if you are affected by a small flood or a larger flood that has extended into your low-risk area. In truth, many flood insurance claims occur in low-to-moderate risk areas.

Don't wait until it's too late. Contacting Marshall Insurance today will get you on the path to flood protection with an affordable and comprehensive insurance policy.

NC Identity Theft Insurance

Having someone steal your identity and use your personal or financial information is a terrible experience. With over 10 million victims each year, NC Identity Theft is the country’s fastest growing crime.

Here at Utica we’re proud to offer Identity Recovery Coverage – designed to provide you with a practical solution to a very real problem. The real cost of Identity Theft The cost of recovering a stolen identity can reach into the thousands of dollars. However, the time and emotional toll identity theft and recovery take on you can be the greatest loss.

It’s frustrating, confusing, and, at times, frightening. Included in your Personal Edge Homeowners’ policy, our Identity Recovery coverage addresses these issues. And in this day and age, it’s a coverage you just don’t want to be without. With Utica National, you can purchase auto insurance, motorcycle insurance, boat insurance, homeowners insurance, commercial insurance, and more.

So, when getting a quote, remember your other insurance needs, too. With our insurance rates, your savings can add up! Contact your local independent agent today to learn more about the advantages of insuring with Utica National.

North Carolina Workers Compensation

At Marshall Insurance, we pride ourselves on being experts within the NC insurance industry. Our extensive insurance knowledge and ability to form mutually beneficial relationships with our clients has enable us to recognize unique sets of risk – and furthermore develop advances insurance strategies in which we can battle them.  One issue in particular that demands expert attention – North Carolina workers compensation.

At Marshall Insurance, we understand that your business is your greatest investment, which is exactly why we are dedicated to helping you distinguish what you need to safeguard your team your business venture right now.

In its simplest form, the North Carolina workers compensation system strives to be the most effective process available to get an injured workers back to the workforce as soon as possible. It provides the employee with peace of mind; reassuring them that if an on-site accident did occur, they would receive appropriate medical attention – without the heightened cost.

As a business owner, you are required to have coverage for workers compensation in North Carolina, in order to comply with state and federal regulations; but that doesn’t mean that just any policy from just any agency will do.  You need expert coverage strategies and advice tailored by the leading NC insurance specialists found here at Marshall Insurance.

The right North Carolina workers compensation package will help protect your employees in the event of injury or illness during the course of employment. Our extensive solutions can provide coverage for:

• Medical expenses
• Lost income/wages
• Rehabilitation costs
• Death benefits
• And more…

Here at Marshall Insurance, we can provide you with a North Carolina workers compensation policy that is specifically designed to meet your distinct business needs. Through a careful evaluation and review of your operation, we can determine exactly what your unique business venture needs to adequately protect your employees.

Contact us at 704-684-0082 or e-mail us to learn more about our North Carolina workers compensation policies and how you can better protect your business and your team!  If you would like a workers compensation quote, please complete this form.

Insurance Guide for Older Homes

Owning an older home can be a dream for many people. These homes were built in prime locations, contain larger rooms than many newer homes, and have loads of charm. But people who own homes 50 or 100 years old or more may find themselves running up against some nightmares with insurance that they didn’t bargain for when they fell in love with the house.

The majority of mortgage lenders require home owners to have home insurance as a condition of their mortgage, but older homes have many problems that make them a bigger risk to insure. Many times, elements of the house may be so worn out that insurance companies will refuse to insure the house without some repairs or replacements.
“Depending on the age of a home, most insurance company require the parts of the home to be updated,” says Brian Boak, an underwriter who has worked in personal insurance for 25 years and works for Singer Nelson Charlmers. “Depending on the company, if these are not updated, they may not insure the location due to the additional risk.”

Even if insurance companies don’t outright refuse to cover your home, insurance premiums for older homes can shoot through that outdated roof. With an older home comes an increased chance for damages caused by parts not functioning properly, and insurance companies don’t take on these risks without charging you more.

Replacement costs for homes that are considered antique or historic are also higher since specialized materials and labor are required to restore the home to historical accuracy.
A home inspection can help reveal the age of components of your home, whether you’ve just put in an offer or have lived in your home for years. Many insurers will perform their own inspections to determine if the home is insurable, particularly if the house has a high replacement cost.

“Some companies rely on their agent to provide the replacement cost; some companies hire an outside inspection service to do either an exterior inspection or a full interior inspection. Some companies do the inspections themselves,” Boak says. “The higher the replacement cost the more likely (and desired) that you will get a comprehensive inspection inside and out.”

Biggest problems for insuring older homes

Older homes across the country face many of the same problems that scare insurers away. Inspectors will be looking for these issues and fixing them will likely bring your premium down significantly.

• The roof: Roofs typically have a life expectancy of about 25 years, according to Boak, so if you have a roof older than that, your chance of a leak is greater. And with water damage being so serious, old roofs can be a sign to insurers that your premium should be raised.
• The electrical system: Most older homes were originally outfitted with small circuit breaker boxes. This combined with old fuses and old wiring can become a problem when faced with the demands of today’s home, Boak says. Air conditioning, electric heat, microwaves, and electric ovens and stoves weren’t used when the home was built, so the extra workload on the electrical system can increase the chance of a fire.
• The plumbing system: Besides plumbing problems being unpleasant to live with, they can also cause leaks and water damage. The invasive nature of repairing water damage makes old plumbing systems costly to insure.

Finding the right policy

If you care about preserving the original features of your home, you’ll want to make sure your policy will pay for the materials that are no longer standard.

Lath and plaster: Older homes often had walls of lath and plaster instead of sheetrock. “Depending on your insurance company they may not pay to replace your lath and plaster walls as they may say that sheetrock is equivalent (and less expensive for them),” Boak says. “Lath and plaster is much more expensive and if you want to keep your old home accurate, you want lath and plaster. Ask your broker what your company will do.”

Lumber measurements: Another consideration to make is your home’s lumber. Today, two-by-fours are actually only 1.5 by 3.5. If you have an old home with “full dimensional” lumber, Boak says, many insurance companies may want to replace it with the cheaper “equivalent,” but you’ll want the original dimensions if you’re trying to preserve the home’s accuracy.

Other added costs to consider are custom molding, solid core doors, and trim that must be custom-made. Anyone with a historic home should make sure they find a company who will insure them for the full replacement value for original features. “You want to make sure you have a true guaranteed replacement cost,” Boak says. “Many companies have replacement cost but it is capped at 20% or 25% above the insured value. You want a company that will rebuild the home exactly how it was with all the quality you had, regardless of the cost.”
Watch out for any cash value policies. These will only pay for what’s damaged including depreciation, so you could be covered for much, much less than you need or even realized with one of these policies.

Buying an old home

So what do you do if you’re house hunting and have fallen in love with an old house? Don’t rush into anything!

Call us before closing on your mortgage. By giving yourself and us time to shop around for home insurance before closing, we can work together to see what you can reasonably expect to pay in premiums, find the best prices, and maybe even stumble on some discounts. You may find that the replacement cost is going to be significantly higher than what you’re paying for the house and that the house isn’t affordable for you because of insurance costs.

Getting quotes from insurance companies will probably also help you find the problems with the house. If you find a few small problems during an inspection, you can budget for it. And if you discover that the whole electrical system and plumbing system need to be replaced, you can walk away.

If you do decide to go ahead with buying a house that needs repairs to make it insurable or bring down your premiums, consider asking the current owner to make the fixes. “If items are old and you are buying the home, you would either want to have the current owner discount the price of the home or update the items for these improvements you will need to make ,” Boak says. “Or expect to add that cost into your budget.”

Tips for home owners

If you already own an old house, you may worry about your insurer raising your premiums significantly or even dropping your coverage altogether. Many insurance companies change the status of your coverage if you file a big claim or several claims in a row. So if your roof gives out and you file a claim, you could be hurting your chances of continuing to be insured.

To avoid this problem, it’s best to try to stay ahead of all repairs and updates if you can. They can certainly be costly, so keep an eye out for warning signs of problems so you can choose what absolutely needs to be fixed first.

Roof: Roofs really aren’t made to last more than 20 or 25 years, but even younger roofs might need replacing. Check for several shingles lifting up, broken, or gone, and then go into your attic to see if you can see any pinholes of light or new water stains.
Electrical system: Look out for flickering lights when you turn on an appliance, switches and plates that are hot to the touch, two-prong outlets, burning plastic smell at switches and outlets, and improper fuses.
Plumbing system: Check out any exposed pipe in your house and look for discoloration, dimpling, stains, and flaking, which could mean your pipes are corroding. It’s a good idea to also look at the color of your water, especially after it’s been sitting in the pipes for a while — try filling your bathtub after a vacation. If it’s brown or yellow, there is probably rust in your pipes.

Old homes can be beautiful investments if you’re prepared to take care of them and keep them up to modern safety standards. If you don’t have the time and money to dedicate to updating your systems, you could find yourself buried under insurance premiums that may cost as much as the repairs in the long run.

Contact Us Today!

Phone: 704-684-0082

E-mail:  gary@marshallins.net

Website:  http://www.marshallins.net

Contact Form

NC Rental Insurance

As your trusted North Carolina insurance agent, we value the simple fact that we can protect you far beyond simple home, auto and business insurance — we are proud to get you the custom coverage you need for all aspects of your life.

Our ability to build tailored policies and offer the highest quality insurance advice is especially helpful for those who own rental properties. You may think that your generic home insurance policy covers all of your worries, but guess again. Having the appropriate insurance coverage is absolutely essential.

Whether you are renting out a long term property like a home or condo, or are simply allowing others enjoy a much needed getaway in your luxury vacation rental, you need to consider all of the risk exposures you face — and you certainly cannot rely on the coverage the your homeowners insurance may or may not provide.  Our specialized rental property insurance can help assume the risk for damages to your premises as well as cover you against any unexpected injuries or accidents that occur involving others while on your property.

These realistic risk exposures are exactly why we at Marshall Insurance want to be your insurance ally, and help you determine the best coverage options for your unique needs. We can help protect you against a variety of issues and our specialized insurance knowledge allows us to insure all levels of rental property including:

• Properties that are vacant or up for sale
• Properties that are under construction
• Luxury high risk and high value vacation rentals

Furthermore, we offer effective dwelling fire insurance that is specifically designed to protect rental property owners, such as yourself, from losing rental income as the result of a fire. In most cases, this coverage will provide you with a year’s worth of rental income, allowing you the time and resources to rebuild and rent.

With so many options and alternatives to choose from, selecting the best rental insurance package may seem tricky — but with Marshall Insurance on your side, we guarantee to secure you the most effective coverage that not only meets your needs but exceeds your expectations, so give us a call today!

Changes to NC Auto Safety Inspection

NCDMV has announced changes to the safety inspection process to go into effect 1/1/09

1. The safety inspection sticker will go away in 2009. Instead you will be required to have your vehicle inspected prior to your registration renewal. If the vehicle is not inspected prior to the renewal date the system will not allow you to renew your tag.
2. If any repairs are required in order to pass the safety inspection you will have 60 days instead of the previous 30 days to complete repairs and pass the inspection.

For more information go to the NC DMV website; http://www.ncdot.org/dmv/