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!

What Else Does Homeowners Insurance Cover?

Homeowners insurance is designed to protect homeowners in the event of unfortunate circumstances like fire, theft, and natural disasters. However, it’s not always clear what these policies cover or don’t cover. Read on for some answers to common questions about what homeowners insurance covers and where it falls short.

Belongings coverage: Your standard policy will cover your belongings up to the limits you choose. For many, this includes clothing, furniture, appliances, and other items that might get damaged or destroyed in a fire or theft. However, there are some types of items that are only covered with additional endorsements. For example, valuables like jewelry, antiques, and collectibles typically require an endorsement to be insured for their full value.

Personal liability protection: If someone falls at your home and is injured or your dog bites an innocent neighbor walking by, liability protection will pay for the medical expenses. It will also reimburse you if you or a family member gets sued. Liability protection doesn’t cover any property damage to the victim’s property; it only pays for your legal fees and damages inflicted on other people.

Medical payments: Medical payment coverage is included with many homeowners policies and will pay for the medical expenses of whoever is hurt on your property, regardless of fault. For example, if a visitor stumbles and breaks his leg, you’ll be reimbursed for the cost of any required treatment. This type of coverage can also extend to non-resident relatives who visit you.

Living expenses: This coverage pays for the additional living expenses you’ll incur if your home is temporarily unlivable after a covered claim. For example, if there is fire damage, this coverage will help pay to put you up in a hotel or temporary housing until your home is repaired or rebuilt.

Homeowners insurance provides a wide range of coverage to protect your house, belongings, and even you from unexpected events. Holmes Insurance Services can help you find the right coverage in Youngsville, NC. Call us today to learn more.

Surety Bonds Insurance Explained

Holmes Insurance Services provides coverage to the Youngsville, NC community. We offer our clients multiple policies so that they are protected in any situation. We want to help our clients live comfortably.

Surety Bonds Insurance Explained

Surety bonds are a legal contract between the guarantor, obligee, and principal. You would be considered the principal while the guarantor insures you. Surety bonds are protection if your Youngsville, NC business is unable to perform a service. You can tailor the surety bonds to meet your individual needs. There are several types of surety bonds. Bid bonds protect the owner in the event that the project does not meet the standards outlined in the contract. Performance bonds insure the contract owner against a possible default.

As a business owner, you can also look into commercial surety bonds. Commercial bonds may be required by a state or federal government in order to complete a project. This ensures that the project adheres to the regulation. If you are a lawyer, you can inquire about judicial bonds that help make sure that the judicial proceedings run smoothly. Notary bonds are another option, as they can protect the public if a notary does not adhere to the procedures outlined in the contract.

While researching surety bond insurance, remember that there are different requirements based on the city, country, or state that you are trying to get a surety bond in. You have to be aware of what the obligee is requiring from you before making a decision. Surety bonds are essential for completing transactions. 

Holmes Insurance Services Will Guide You Through The Process

Visit our website to learn more information about surety bonds insurance.

What Is the Difference Between Term Life Insurance and Permanent Life Insurance

When shopping for life insurance, you will learn there are two main life insurance policies: term life insurance and permanent life insurance. Both of these policies provide financial protection for your family; however, they differ in premium costs, total coverage, and length of coverage. When shopping for life insurance in Youngsville, NC, you want all of your life insurance questions answered. The experts at Holmes Insurance Services can help answer those questions and find you the best life insurance policy for your family’s financial needs.

Term Life Insurance

Term life insurance typically provides a more affordable life insurance option; however, these policies only cover you for a specific term length. Term lengths are stated in the policy and typically cover you for 10, 15, 20, 25 years, or any other length you select. 

Permanent Life Insurance

Permanent life insurance provides coverage for your entire life, as long as you continue making premium payments. This policy also has a cash value that is not available with term life insurance policies. If needed, you can borrow against your policy’s cash value to help pay for your retirement or other financial emergencies. 

Differences in Premiums

Term life insurance tends to be the less expensive option; however, your premium rates are calculated by several factors. These factors may include the policy type, the death benefit amount, term length (term life policies only), your age, and your overall health. Additionally, the company you purchase your life insurance policy from affects the overall premium costs. 

When shopping for life insurance in Youngsville, NC, reach out to Holmes Insurance Services to discuss your different options. Our agents can help you determine which life insurance policy is the best for your family’s future financial needs. 

Commercial Auto Insurance Vs. Personal Auto Insurance Coverage

Everyone who owns and drives a car needs auto insurance, including business owners. There are a good deal of different insurance policy coverage options, including different ones designed for personal auto insurance coverage and commercial auto insurance coverage. Businesses in Youngsville, NC could compare the different types of policies and learn where each one comes into play in the event of an accident. 

Then, if you still have questions, call our agents at Holmes Insurance Services today. 

What Does Personal Auto Insurance Entail?

Personal insurance covers everything you own, including home to car. Personal auto insurance protects your personal vehicle that is not used for commercial or business purposes. This type of insurance is for vehicles personally owned and the title is in your name. Your personal auto insurance policy covers you when you commute to work or drive on your own time. When you begin to use your vehicle for work purposes, personal insurance no longer covers it. 

What Does Commercial Auto Insurance Entail? 

Commercial auto insurance covers more than personal insurance does. The added coverage is because the risks are higher when a vehicle is used for business purposes. Commercial auto insurance covers similar personal auto insurance items, including legal, medical, and damage costs. The added coverage protects you against the higher liability involved in owning and operating commercial vehicles. 

When Would I Need Commercial Auto Insurance? 

Here are some situations where you would need to have a commercial auto insurance policy: 

  • Transportation Service: You work transporting passengers or goods with your vehicle. 
  • Truck Driving: Drivers of semi-trucks may need this add-on policy, especially if they are an owner-operator. 
  • Providing a Service: You are a contractor, landscaper, or other similar service providers.
  • Drive for Business Reasons: Real estate agents or those who often drive to see clients. 

Those who use their car in Youngsville, NC may want to reach out to Holmes Insurance Services to discuss commercial insurance options available for business-related driving. 

Why Commercial Insurance is an Asset

Is commercial insurance an expense or asset? Most business owners in Youngsville, NC and other parts of America think of insurance as an expense. In fact, accounting practice dictates we treat commercial insurance as such. While insurance is an expense in the strict sense, you should view it as an investment (asset) that cushions your business when the unthinkable strikes. As a matter of fact, insurance is a promise to pay in the near or long-term future. And like the purchase of any other investment, the purchase price is a consideration, but the value shouldn’t be put on the wayside.

If you have been viewing commercial insurance as just another expense, think again. Here is why commercial insurance is an asset for your business.

Liability protection

When you buy commercial insurance from Holmes Insurance Services, it safeguards your business against liabilities like bodily injury, property damage, and advertising injury that your business could cause to other people. 

Since liability claims can be expensive, commercial insurance ensures that you don’t have to dip in your pocket when third-party claims come calling. 

Protects your employees

Your employees’ productivity could be affected by work-related injuries and general illnesses. And since you are responsible for your employees’ welfare, paying for your employees’ medical costs can cripple your business finances. Thankfully, when you have workers’ comp insurance, your employees’ medical expenses, partial loss of income, and funeral costs are taken care of by commercial insurance.

Protects your assets

Think of the value of your business assets. Ranging from your building, inventories, furniture to computer equipment, it would be catastrophic to lose your assets when a disaster strikes. Thankfully, when you have invested in commercial insurance, your insurer compensates you for losses and damages to your assets.

The list above isn’t exhaustive. There is a lot more you can benefit from commercial insurance. If you are looking for proper commercial insurance in Youngsville, NC, contact Holmes Insurance Services.