Auto Insurance Protects You from Financial Disaster

You may wonder, how? If you are ever in an accident or if your car is stolen, the costs can mount up quickly. We at Holmes Insurance Services in Youngsville NC can help you with all your auto insurance needs.

Auto Insurance Coverage: What You Need To Know

Only two states in the country do not require auto insurance – Virginia and New Hampshire. All the other states require insurance prior to the purchase or registration of a vehicle. The federal government allows each state to set its own laws regarding car insurance.

Anyone not covered by insurance can be fined or face jail time. All drivers should have the most affordable insurance their budget can handle. Certain lenders may require drivers to have coverage prior to getting approved for a loan.

Liability is the reason for mandatory car insurance. Causing an accident is one of the most stressful and potentially expensive things that can happen to any driver. Liability insurance helps to defray the costs of the charges you will be responsible for.

Personal injury protection or collision insurance will handle the costs no matter who is at fault.

Renting and leasing a vehicle can increase insurance requirements.

Accidents are not the only reason for insurance. Weather events such as tornadoes, hail, fires, etc. can damage your vehicle. These types of “acts of God” are covered under a comprehensive policy where no one is at fault. This type of insurance is important if your car is vandalized or stolen. Certain policies will cover damaged or stolen personal property that was in the car.

Get Auto Insurance Today

Don’t allow a traffic accident to put your assets at risk. An insurance policy can protect those assets. Contact the insurance professionals at Holmes Insurance Services in Youngsville, NC today. We will be happy to answer your questions and give you the help you need.

How to Protect Your Business as a Sole Proprietor

As a sole proprietor in the Youngsville, NC area, you are the face and name of your business. You are also solely responsible for its debts and liabilities. This can be a great way to keep control over your business, but it also comes with some risks.

Here are some tips from Holmes Insurance Services to help you protect your business as a sole proprietor.

Sole Proprietorships: What are they?

A sole proprietorship is a business owned and operated by one individual, as opposed to a corporation or limited liability company (LLC). There are many benefits to running a sole proprietorship, like the ability to operate your business how you see fit, set your hours, and run it how you want to run it.

The importance of property and liability insurance for sole proprietorships

A sole proprietorship should have commercial insurance to protect the business from liability if something goes wrong. If there is an accident or injury on the premises, the company could be sued for damages. Commercial insurance can help to cover the costs of a legal defense and any damages that may be awarded.

How to choose the right insurance for your sole proprietorship

As the business owner, you are responsible for all the costs associated with doing business. This includes the cost of potential litigation if you are sued or lost after an accident. Without proper insurance coverage, you will end up paying the price out of pocket.

If you are a sole proprietor in the Youngsville, NC community, reach out to Holmes Insurance Services today to learn more about the risks small businesses face and how to insure your own business.

What every new homeowner should know about home insurance

If you think that home insurance is just one size fits all, you are mistaken. Every home and homeowner has different needs and you deserve an independent insurance agent who takes the time to get to know you and what fits your home and your requirements. Holmes Insurance Services in Youngsville, NC is dedicated to providing our customers with the personalized service they deserve. 

Home Insurance: What You Need To Know

Home insurance has exclusions

As a new homeowner, you probably feel very safe knowing that your home is covered by home insurance. Home insurance does offer a lot of protection, but it does have exclusions that you may not be aware of. Your home is not covered against flooding, earthquakes, sinkholes, landslides and mudslides, sewer backup, termites, mold, rodent infestation, and owner neglect. The good news is that for some of these exclusions, you can add a rider to your policy or get a totally separate policy to provide additional protection. 

All dogs are not covered

If you have a dog, you may never have considered the possibility that your home insurance would not be covered by your home insurance in the event that they ever have a problem with a person or another dog. If you have a dog, you need to talk to your insurance agent about the breed that you have chosen. 

Some categories of content have limits

Just because you have some beautiful jewelry doesn’t mean that it is covered by your home insurance. Typical home insurance has low limits on jewelry. In order to cover your jewelry, you need to get an appraisal and add a jewelry rider to your policy. Art and antiques also have limits that you may want to check if they apply to you. 

Contact Us Today

Contact Holmes Insurance Services in Youngsville, NC with your questions and home insurance needs. 

The Surety Bond Application Process Explained

Once you’ve determined you need a surety bond to conduct business in the Youngsville, NC area, you can get started on the surety bond application process. Fortunately, the process is quite easy and involves a few simple steps.

Here’s what you need to do: 

Figure out the bond type and amount

The three most common types of bonds in North Carolina are bid, performance, and payment bonds. But no matter the type of bond, you can expect the cost of your surety bond to be somewhere between 1% and 5% of the total bond amount. 

Collect information required for the application

This includes your business name, license number (if applicable), address, and owner information. 

Obtain your free no-obligation quote through Holmes Insurance Services

Opting to work with our surety bond experts means choosing professionals who have your best interests at heart and offer competitive rates. 

Purchase your bond

By working with one of our surety experts, you’re working with professionals who are fast and efficient and keep your information secure. Although the amount of time it takes to receive your bond after purchase depends on different factors, such as the type of bond, you can generally expect to get it within three days. 

File the surety bond

You’ll have to get in touch with the obligee to determine if they need a digital or raised seal. Once that part is out of the way, you can sign your bond as the principal before submitting it to the obligee. After that, you’re all set! 

Give Us A Call

As you can see, the surety bond application process is quite simple and painless. And, with the help of our surety bond professionals at Holmes Insurance Services, we can make the process even easier for you. Serving the Youngsville, NC area, our surety experts can help you with all your surety bond and insurance needs. Contact an agent now to get a free no-obligation quote. 

How Whole Life Insurance Works

When it comes to life insurance, there are two main types- term and whole life. Both have their pros and cons, and both can provide great coverage. If you are thinking about getting a whole life policy, we’d love to talk to you. Call us at Holmes Insurance Services in Youngsville, NC.  

How Whole Life Insurance Works

Lifelong Protection

When you get a term life policy, it’s good only for the specific term of the policy, often 20 or 25 years. When you get a whole life policy, it can cover you for the rest of your life. When you get a policy, it is good for as long as you live- as long as you keep paying the premiums. This is a great way to lock in coverage when you’re younger so that you don’t face a hard time getting insurance when you’re older. 

Building a Cash Value

Another thing that people love about whole life policies is that they build up a cash value over time. As you continue to pay for your premiums, after a few years a part of the profits made by investing your premiums gets put into a cash value for your policy. This is an amount that you can then borrow against. When policyholders get into a financial bind and need cash, these policies can certainly come in handy. When the policyholder borrows against that cash value, that amount is subtracted from the eventual death benefit until the amount is paid back. 

Get a Whole Life Policy

If you need a life insurance policy, getting a whole life policy is a good choice for many people. If you want to learn more about these policies and get started, call us at Holmes Insurance Services in Youngsville, NC to talk to an agent about a policy of your own. 

 

When To Shop For Auto Insurance

Because auto insurance is a unique type of expense, you want to be careful how you choose your service. Auto insurance is unique because it is one of the few expenses that are required by law. At Holmes Insurance Services, serving Youngsville, NC, we can help you better understand when to shop for insurance so that you are always getting the best deals.

When To Shop For Auto Insurance

Purchasing A New Vehicle

If you are considering the purchase of a vehicle, you will want to shop around and get the best quotes. If you are financing this vehicle, the finance company will most likely require that you have insurance ready to go before finalizing the purchase. 

Adding A New Driver

If you are adding a new driver to your policy, you may first want to consider comparing quotes from a few different companies. You may be surprised to see how your costs change when adding a driver. If this new driver will also be bringing a vehicle to the policy, you will want to determine which vehicle will be the primary vehicle. This will also affect your costs.

If the new driver you are adding is a new teen driver, you will want to find out about any discounts or benefits you can take advantage of for driver’s ed classes or good grades.  

Getting Married

If you are getting married or have recently gotten married, you will want to discuss insurance changes on your policy. Adding a spouse can sometimes earn you special benefits.

If you would like to learn more about auto insurance, or any of our other products, please contact us at Holmes Insurance Services, serving Youngsville, NC, and the surrounding areas.  

Commercial Insurance FAQs

Knowing exactly what commercial insurance is right for your business is not something most business owners are experts on. Insurance agents know how to evaluate risk and suggest the right protection to mitigate that risk. At Holmes Insurance Services in Youngsville, NC, we strive to provide every customer with the highest level of service. We want to have a long-term relationship with each person we serve. 

If you have questions about commercial insurance, you are not alone. 

Do I need to own a building to benefit from commercial property insurance?

No, even if you are a renter, you can reap many benefits from commercial property insurance. Commercial property insurance covers the content as well as the building. All the things you need to do business are display cabinets, tools, machinery, raw materials, inventory, electronics, and all your office equipment. 

What type of commercial insurance is required in North Carolina?

In North Carolina, if your business has any vehicles, you need to have commercial auto insurance, and workers’ compensation is also required. 

For auto insurance, the basic requirement for commercial vehicles is 30/60/25. This is $30,000 for a single injury in an accident with a total of $60,000 if more than one person is injured with $25,000 in property damage. 

For workers’ compensation insurance, if your business has three or more employees, you must cover them with workers’ compensation. 

How much liability insurance should I have for my business?

Every business has different assets and different liability requirements. Some businesses are a lot more prone to legal action than other businesses. Your insurance agent will measure your risk level to come up with the correct amount. 

Contact Holmes Insurance Services in Youngsville, NC when you are ready to discuss your commercial insurance needs. 

 

How Home Insurance Protects You

If you own a home, one of your responsibilities is to have a home insurance policy on it. Changes are, your lender requires you to have this coverage. However, even if you are not required to have it, it only makes good financial sense to do so. If you need a home policy, contact us today at Holmes Insurance Services in Youngsville, NC.

Financial Protection for Your House

There are a few types of protection that are included in a home policy, and one of those is for the dwelling. There are many accidents and other incidents that can cause major damage to a house- or even destroy it. When this happens, the repair costs can be extreme. Many people would not be able to come up with the money needed for these repairs. But with home insurance, you won’t have to. The insurance policy pays for the repairs or the rebuilding if necessary. This is important financial protection to have for as long as you own your home. 

Protection for Your Possessions

Next to the house itself, your biggest financial outlay has probably been to all of your possessions inside it. That makes coverage for these items important protection to have. With this coverage, if your possessions are ruined in a covered incident such as certain accidents, the policy would help you to pay to replace those items. Without this coverage, it could be hard to replace items because of the cost, but with a home policy, this is taken care of. 

Liability Protection

Another form of protection offered by home insurance is protection against your liability. If someone were to have an accident at your home that results in an injury, you are likely to be held liable for that accident. Home insurance covers you against this risk so that those medical bills will be paid. 

Home Insurance

If you need a home insurance policy, call us at Holmes Insurance Services in Youngsville, NC.

Why Relying On Minimal Auto Insurance Coverage Isn’t Ideal

Holmes Insurance Services assists the Youngsville, NC community. We are committed to helping our clients find the coverage they need to protect their assets. We want to make sure that our clients have a safety net to rely on when an emergency strikes. We work closely with multiple carriers through the South. This helps us offer flexible policies that align with our client’s unique needs. We will sit down with you and help you find a policy that aligns with your individual situation.

Why Relying On Minimal Auto Insurance Isn’t Ideal

Auto insurance helps you stay protected as you travel through Youngsville, NC and other parts of the state. Liability coverage protects you if you are responsible for injuring someone. Perhaps you take your eye off the road for a split second and that causes your vehicle to swerve. Liability coverage will protect you by covering the injured party’s medical treatment. Collision coverage protects your vehicle if it suffers damage due to being involved in an accident. Collision coverage gives you peace of mind that the repairs will be handled. Comprehensive coverage protects your vehicle if someone attempts to steal or vandalize it. The humid weather in Youngsville NC can lead to severe storms sometimes. Comprehensive coverage will protect you if your vehicle suffers a cracked windshield or mirror due to inclement weather.

If you opt for minimal liability coverage, you’re at risk if your vehicle suffers damage. Minimal coverage will cover any damages that your vehicle sustains in an accident. You may also be left unprotected if your vehicle has a dead battery, and you need urgent roadside assistance. Adding as much insurance coverage as possible prevents you from being in an uncomfortable situation in the future.

Holmes Insurance Services Will Help You Protect Your Assets

Visit our website to learn more information about auto insurance.  

Types of Commercial Insurance

Not all businesses are the same, and neither are their insurance requirements. So, today, we at Holmes Insurance Services, serving Youngsville, NC are talking about the different types of commercial insurance available to you, the business owner.

Property Insurance

Property insurance is for your property, including your buildings, inventory, and equipment, but usually excludes glass. It may also be structured to cover vandalism and theft.

Commercial Auto Insurance

This one is for your business vehicles and functions much like normal auto insurance, and there will be different sections, including liability, damage and theft.

Fire and Extended Coverage

This one protects you from physical loss due to fire. Extended coverage can either be named peril, meaning you are insured for all the perils you have specified in your policy, or all risk, which means you are insured for all risks, excluding those specifically excluded in the policy. Flood and earthquake insurance will need to be purchased separately.

Business Interruption

This insurance type is for when your business is interrupted to such a point that it affects your income. But your expenses remain the same. It is usually linked to physical disruption.

Commercial General Liability

This type of insurance provides financial protection from liability. This may mean liability when someone is injured on your premises or hurt when using your products. Because liability is expensive, some liability sections include cover for defense costs.

Umbrella Insurance

Umbrella insurance is additional liability insurance sitting above your other insurance policies and is triggered when your other liability policies are exhausted.

Combination or Package Policies

These are most often used by smaller businesses and combine several types of insurance, including general liability, property insurance, and business interruption.

Contact Us

Speak to Holmes Insurance Services, serving Youngsville, NC, about your commercial insurance requirements today!