Posted by Benji Riggins on May 19, 2009 under Safety | 
Be Safe, Be Smart On A Long-Distance Road Trip!
Whether you’re traveling alone, with a buddy or with your spouse and a car full of kids, there are few things more “American” than the long-distance road trip. Countless vacation travelers will drive the highways looking for fun and making memories with every mile. If traveling down the “holiday road” is in your plans, take the time to prepare for your trip. You’ll have a more enjoyable vacation if you plan carefully. Here are a few driving tips, courtesy of Statewide Insurance Group, Inc.
To learn more about what an independent insurance agency offers you, visit:
Statewide Insurance Group, Inc.
5718 Hwy 74 West
Indian Trail, NC
28079
704/821-7630
Posted by Benji Riggins on May 18, 2009 under Saving money |
It can be easier than you think to put the brakes on high auto insurance rates – as an independent agency, Statewide Insurance Group, Inc. can help! We can review your policy and possibly help you find a variety of illuminating ways to save money. Here are some things you may want to consider:
• Ask us to check several companies’ rates. This is the single most important thing you can do to get the best possible rate—and we can do it for you quickly and easily. The difference between the highest and lowest rate available to you from different companies could vary by hundreds of dollars.
• Reduce or drop physical damage coverage on an older car. Depending on your car’s age and where you live, comprehensive and collision coverage may not be worth keeping. We can give you advice on whether it makes sense to reduce or drop this coverage altogether.
• Raise your deductible. According to the Insurance Information Institute, raising your deductible from $250 to $500 could reduce your collision and comprehensive cost by 15 to 30 percent. In addition, because the average driver files a collision claim only once every ten years, odds are that over the lifetime of your car, a higher deductible will save you money. We can show you how raising your deductible will lower your premium.
• Look for discounts. Many insurance companies reduce premiums for certain driver traits or car features. For example: being a homeowner for more than three years, nonsmoker, nondrinker, students with good grades, senior citizens who have taken an approved defensive driving course, people who only drive for pleasure, cars kept in garages, antilock brakes, antitheft devices, air bags, etc. Ask us to check.
• Don’t assume having your car and home insured by the same company is the best option. Because auto insurance rates vary so much from company to company, it may make sense for you to have your car and home insured by separate companies. Let’s talk about it.
To learn more about all an independent agency can offer you, stop by or call:
Statewide Insurance Group, Inc.
5718 Hwy 74 West
Indian Trail, NC 28079
704/821-7630
Posted by Benji Riggins on May 13, 2009 under Boat Insurance |
1. Dropping Insurance Coverage Because The Boat Is Paid Off.
Boat Insurance covers more than just the vessel, providing coverage for personal injuries, environmental cleanup and liability issues out on the water.
2. Shopping On Price Alone.
Paying less for insurance could mean lower policy limits and less coverage.
3. Lowering Liability Or Other Limits To Save On Monthly Premium Costs.
An Indepedent Insurance Agent can help a boater identify the proper amount of coverage needed to protect other personal assets, ensuring the boater does not have too much coverage or too little.
4. Choosing A Deductible You Can’t Afford.
While choosing a higher deductible can help save on monthly premium costs, boaters should make sure to choose a deductible that they can affod in the event of a claim.
5. Intentionally Cancelling Boat Insurance Coverage During The Offseason.
This overlooks many risks that could damage the boat when it’s not in the water such as fire at a storage facility or a fallen tree during a storm.
Posted by Benji Riggins on May 6, 2009 under Insurance Requirements |
The state of North Carolina began registering vehicles for the first time on July 1, 1909. Since that time, the North Carolina highway system has become the largest state-maintained road system in the nation. During the same period, the number of uninsured vehicles grew so rapidly that in 1957 North Carolina became one of the first states to adopt a compulsory insurance law.
A license plate must be surrendered whenever insurance has been deleted for any reason.
LIABILITY INSURANCE REQUIREMENTS:
The Vehicle Financial Responsibility Act of 1957 requires that all motor vehicles registered in the state must be covered by an automobile liability insurance policy and that the insurance must remain in effect with continuous coverage until the registration is terminated.
When titling/registering your vehicle you will need to provide proof of insurance.
Acceptable proofs of insurance include:
- Owner provides insurance company name and policy number (Self Certification)
- Or a Certificate of Insurance (FS-1), obtained from an Insurance Company that is licensed to do business in North Carolina.
Minimum Liability Insurance Requirements for Licensing:
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The minimum requirements of liability insurance for a private passenger vehicle is $30,000 for bodily injury for one person; $60,000 bodily injury for two or more people and $25,000 property damage. North Carolina law requires each company to notify the DMV when coverage has been cancelled.
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INSURANCE COMPANIES:
Liability coverage must be continuously maintained with a company licensed and authorized to do business in this state.
LAPSE OF INSURANCE COVERAGE:
If you change insurance carriers or you have a lapse of coverage, your insurance company is required by law to notify the Division of Motor Vehicles. When the Division receives this information, they are required to send Form FS 5-7 Notice, and you are required to respond within 10 days.
If there has not been a break in coverage:
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You must enter your correct insurance information on the Form FS 5-7 and return it to the Division within 10 days from the date on the FS 5-7 Notice.
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If there has been a break in coverage:
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You must re-certify with the correct insurance information and submit the listed penalty amount within 10 days from the date of the letter in order to retain your license plate.
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Failure to respond within the required time can result in the loss of your license plate for 30 days.
Re-licensing after loss of license plate:
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In order to relicense after 30 days, you must:
- Provide proof of insurance coverage Form FS-1 (which you can obtain from your insurance agent);
- Pay a civil penalty fee of $50.00, $100.00 or $150.00 (depending on how many prior paid lapses you have General Statute 20-311).
- Pay a $50.00 service fee;
- And pay the appropriate license plate fee.
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WRONGFUL TERMINATION OF INSURANCE COVERAGE:
If you feel the termination of your insurance is unjustified you do have a recourse:
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An insurance hearing may be requested when you feel the action is unjustified or when circumstances were beyond your control. You may call 919-715-7000 to set up a hearing. (An FS-1 is required for this option)
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Posted by Benji Riggins on May 2, 2009 under Insurance News |
Homeowners in 18 coastal North Carolina counties whose homes are insured by a state-backed insurance pool shouldn’t expect a delay of higher rates taking effect May 1.
A powerful state legislator said a comprehensive effort to fix the overextended Beach Plan won’t delay the premium increases of up to 30 percent. House Majority Leader Hugh Holliman said he’s negotiating with insurance companies and state regulators for an overall solution.
The plan’s $72 billion in commitments well outstrip its ability to pay if there’s a catastrophic hurricane.
Coastal lawmakers wanted legislation postponing the higher premiums, as well as insurance deductibles and surcharges that a judge last month ordered the insurance commissioner to reconsider.
The judge’s ruling blocked surcharges the Beach Plan was set to charge on new policies as of Feb. 1. The judge also froze a planned rise in the deductible level to 2 percent of a home’s insured value per occurrence.
However, that court order did not affect premium changes scheduled to begin in May as part of a deal insurers worked out with former Insurance Commissioner Jim Long. This settlement cuts premiums for homeowners in central and western counties, but increases insurance rates on homes by up to 30 percent in some coastal counties.
