Do all people in North Carolina need to carry health insurance?

When you are in the Clinton, NC area, having the right insurance in place at all times is very important. A form of insurance coverage that you need to have when you are here is health insurance. There are a few reasons why the typical person in this area of North Carolina should ensure they are covering appropriate health insurance at all times. 

Coverage is Required by Law

A reason people here need to have health insurance is so they can stay in compliance with the law. Having health insurance continues to be a necessity and legal requirement. When filing income taxes at the end of the year, you will have to provide evidence of full coverage. If you do not have evidence of coverage for the preceding year, you could face penalization.

Coverage Ensures Access to Affordable Care

The main reason people need to have health insurance in this area is so they can have access to affordable care. Going to the doctor, receiving medication, and having a procedure done will normally be extremely expensive without coverage. If you have a health insurance plan in place, you can receive the care you need at a much lower cost. This can help encourage a healthier lifestyle without spending too much money.

People that would like to get a health insurance plan and are in the Clinton, NC area should speak with the professionals at Powell’s Insurance. As you are looking for a new insurance plan, Powell’s Insurance will offer you the guidance needed to understand your options. They can help you choose a plan that is going to offer the right healthcare coverage to ensure you have access to affordable care and stay in compliance with your legal obligations. 

4 Areas Covered by Motorcycle Insurance

Selecting proper motorcycle insurance coverage is much like choosing a spectacular ride. You want it to suit your needs, including your lifestyle and budget. To find out what insurance is best for your bike, it’s imperative to understand all the available options. If your motorcycle is your weekend leisure companion, daily commute option, or an integral part of business in Clinton, NC, you need outstanding motorcycle insurance from Powell’s Insurance. This way, you will obtain coverage in the below areas.

Asset protection

Comprehensive coverage pays for your motorcycle’s replacement or repair costs if you encounter a non-collision peril such as theft, vandalism, hail, and falling objects. On the other hand, collision coverage reimburses the cost of repairing or replacing your bike if you are involved in a collision with a vehicle or a stationary object.

The underinsured/uninsured motorist coverage pays for damages to your bike propagated by another motorist who is either inadequately insured or not insured at all.

Medical payments

Motorcycle insurance with PIP or MedPay coverage pays for medical expenses like x-rays, hospitalization, surgeries, and medication for you and your passengers when involved in an accident. 

Liability coverage

Motorcycle insurance protects against bodily injury, property damage, and even lawsuits for accidents you are deemed liable for. 

Personal belongings protection

This form of coverage is designed to protect your possessions that you are carrying while riding your motorcycle, such as a cellphone, motorcycle gear, among others if they are stolen, damaged, or lost.

Buy motorcycle insurance today!

It’s mandatory to purchase motorcycle insurance in North Carolina. Riding without valid motorcycle insurance exposes you to fines, penalties, and financial losses since you are expected to pay for injuries and damages caused to other people. Do you need outstanding motorcycle insurance in Clinton, NC? Please contact Powell’s Insurance for a competitive quote.

An Overview of Flood Insurance in North Carolina

In North Carolina, flood insurance is not a legal requirement for homeowners. However, it is crucial that homeowners get flood insurance because standard home insurance policies do not cover flood damage.

It is even more critical for North Carolinians to get flood insurance if they live in high-risk areas. Lenders may also require these residents to get flood insurance. 

Many North Carolina residents who don’t live in high-risk areas may feel like they will never have flood damage. However, it only takes a few inches of water to make significant flood damage.

Also, North Carolina tends to have a plethora of flood-related disasters, ranging from seasonal heavy rains and hurricanes. These situations can be very extreme when floodwaters can come out of various sources, such as storm drains. This situation, in turn, can cause floods to occur in places that are usually not vulnerable.  

Do not take for granted living in an area that is less vulnerable to flood risks. You can still encounter severe flood damage in those areas.  

It will also behoove you not to assume that the National Flood Insurance Program (NFIP) will take care of all possible flood damage. The maximum NFIP allowed only covers so much for the home structure and its contents. So, one can only imagine how limited the coverage will be in rebuilding a home. 

Contact Us

For more information about flood insurance, contact Powell’s Insurance today. Located in Clinton, NC, Powell’s Insurance has provided top-notch insurance to people in North Carolina for several years. You will be in trustworthy hands with our team. So, contact our office in Clinton, NC today!

What Is Umbrella Insurance and Why Do You Need It?

Homeowners insurance, auto insurance, business insurance, and boat insurance…if you already carry all these coverages, you would be surprised if someone told you that you need another insurance. The reality is that as your financial obligations tick up, the more pressing it becomes to consider umbrella insurance in addition to your current insurance plans.

Still not convinced? Please keep on scrolling to understand the ins and outs of umbrella insurance in North Carolina. 

What is Umbrella Insurance?

Also referred to as excess liability insurance, umbrella insurance is the coverage that covers potential gaps left out in your typical insurance. If you need to pay for expenses exceeding the coverages you have in place, umbrella insurance can come to your rescue.

In other words, you can think of umbrella insurance as an extra layer of protection to safeguard your assets when your standard insurance plans run dry.

Why is umbrella insurance important?

Consider your personal assets — the car, house, investments accounts, and saving accounts. Now assume you get involved in a significant lawsuit. Perhaps, it’s a car accident, and you caused severe injuries to another driver. Here, medical costs are involved, and the person can go ahead and sue you for negligence.

While you may have auto insurance with liability coverage of, let say, $50,000, medical and legal costs from your incident can go up to $90,000. In this case, your auto insurance will cover the liability of $50,000, but you are supposed to cover the difference of $40,000 from your pocket. Without umbrella insurance, your assets will be on the line. 

To put it all together, when you obtain umbrella insurance from Powell’s Insurance located in Clinton, NC, it’s likely to cover the below areas.

  • Bodily injury: Pays for medical costs and possible lawsuits for injuries caused to another person.
  • Property damage: Covers damage to third-party properties.
  • You could be sued for other personal liabilities, such as libel, slander, malicious prosecution, and false arrest.

Now that you are convinced that you need umbrella insurance, it’s time to secure one from Powell’s Insurance located in Clinton, NC. Partner with us today and let us be your preferred one-stop-shop for all your umbrella insurance needs.

Benefits of Condo Insurance

Compared to homeowners, condo dwellers don’t own the building or land where they live. If you live in a condo, the master policy often insures the main building and other common areas. But what happens to your uninsured personal belongings in case of damages?

Condo insurance is designed to bridge this gap. If you live in Clinton, NC, you need Condo insurance to help you repair your unit, replace personal belongings or seek medical care in case of damage or theft. 

Condo insurance presents multiple benefits to tenants. 

Replacement Cost coverage 

When your condo suffers damages caused by fire or other Acts of God, the losses can be immense. Dealing with the financial implications on your own can be overwhelming. The good news is that condo insurance provides the much-needed replacement cost coverage for your property. 

You can utilize this coverage to undertake structural and related property repairs with this plan. The policy also provides replacement cost coverage on your personal belongings. With such coverage, condo dwellers living in Clinton, NC can return to their normal lives after dealing with a disaster. 

Living Expenses Coverage   

In case of loss or damages to your condo, you might have to incur additional tenancy costs. This is due to the temporal inability to access your unit. Condo insurance helps to cover such expenses. Our policy at Powell’s Insurance offers additional living costs coverage for all covered losses. 

Medical Payment

Some risks, such as fire, may cause bodily harm. In case of such unfortunate outcomes, accessing medical support can be costly. Specific condo insurance policies offer medical payment options in case of bodily injuries.

Consider Our Condo Insurance Plan

A condo insurance policy is different from a master policy. In case of damages, losses, or injuries while living in a condo, you might end up stranded unless you have specific insurance coverage. Our plans at Powell’s Insurance are tailored to help condo dwellers get back on their feet following unforeseen damages. 

Are you looking for a reliable insurance agent around Clinton, NC? Our agents are a call away.

Why would people in Clinton need health insurance?

People that live all over Clinton, NC need to make sure they have a proper personal insurance plan in place. There are many important forms of insurance the average person needs to get, which includes health insurance. There are a few different reasons that the typical person here will need to get a health insurance plan. 

Insurance is Needed to Get Access to Affordable Care

People need health insurance because it is a great way to get access to affordable care. If you are ever sick or hurt, you may need to receive medical attention. If you go to see a doctor or go to a local hospital, your bills can quickly add up. Fortunately, those with health insurance will have a network of doctors that they can see and out of pocket caps, which can help reduce your total costs.

Law needs insurance

Today, all people across the country are required by law to carry health insurance. When you file your income taxes at the end of the year, you will have to provide evidence that you held health insurance coverage for the entire year. If you do not have this coverage the whole time, you could be left with a penalty applied to your tax bill. 

People that are shopping for health insurance in the Clinton, NC area should call Powell’s Insurance to discuss their insurance needs. When you call Powell’s Insurance, you can learn a lot about the benefits that come with this insurance. If you call the team here, they can explain your options and help you pick the right policy for you and your situation. 

How much life insurance is enough

Life insurance is the one type of insurance you don’t buy to protect yourself. You buy it to protect the ones you love. No two people have the same life insurance needs. It makes good sense to start acquiring life insurance when you are young, and it is at its least expensive. If you are purchasing term insurance, keep in mind the term may end while you still need the insurance, and it will not be the same price to renew it. At Powell’s Insurance in Clinton, NC, we can offer bilingual service and the top carriers in the business.

How much life insurance is enough depends on who depends on your income to maintain their lifestyle. If you are single and have no dependents, you only need enough life insurance to pay off any debt you might have and for your final expenses. If you own a home, the amount of life insurance you have should cover the outstanding amount on your mortgage. You don’t want to leave your loved ones struggling to deal with it. 

When you have dependents, whether it is aging parents, children, your spouse, or anyone else who counts on you, it is more complicated trying to figure out how much life insurance is enough. You have to consider what your annual income is. The lower your income, the less you will be replacing. How many years will your dependents require assistance? It can be many years with young children, and if you want to make sure college is in their future, figure that in as well. 

Somewhere between 7 and 10 years’ worth of income is what experts suggest, but depending on your lifestyle and income, you may feel that more or less is what you need. 

Contact Powell’s Insurance in Clinton, NC to discuss your life insurance needs.

What auto insurance is required in North Carolina

North Carolina drivers face the same challenges as drivers in other parts of the country. Driving takes all of your attention, and unfortunately, these days, too many drivers are distracted. It makes having the right kind of auto insurance even more important. Before you hit the road, you need to know you are protected. If you live in Clinton, NC or the surrounding area, Powell’s Insurance is there for you, with 40 years of experience and top carriers. We will make sure you have the coverage you need at a price you can afford. 

In North Carolina, drivers need to have more than just liability auto insurance before they hit the road. They also need to have uninsured and underinsured motorist coverage. Insurance companies are required by the law to notify the DMV if liability coverage is canceled or if coverage lapses for any reason. The DMV will then send the person a notice to respond within 10 days. Failure to respond could result in the revocation of the registration and other things like late fees and civil penalties. If it a case where you have just changed companies, a copy of the new insurance declaration page can be faxed in as proof. 

The amount of coverage required is 30/60/25. This means $30,000 for injures for a single person in an accident, with $60,000 total for all passengers and $25,000 for property damage. This is basic coverage. It doesn’t mean that you should have only this amount. If you have a significant amount of assets, having more may not be required, but it is a good idea. 

If it’s time to renew your current policy or you are ready for a change, give us a call or stop by our office. At Powell’s Insurance in Clinton, NC, we can help you to be comfortable with the coverage that you choose. 

How commercial insurance protects a small business

Operating a small business comes with risks. As a savvy business owner, you will assess your risks and use that information to determine what type of commercial insurance can protect your business. Not all businesses have the same level of risk, but some commercial insurance types are beneficial to most businesses. At Powell’s Insurance in Clinton, NC, we understand the risks your business faces, and we will work with you to put together a business policy that makes sense. As an independent agency, we can offer coverage from a selection of top-rated carriers. 

Business property insurance helps to protect your business’  physical assets. It doesn’t matter if you own the building your business operates out of or rent. It would help if you still had property insurance to protect you from fire, theft, or other covered hazards. In addition to the building, this insurance also covers your business equipment, computers, records, machinery, inventory, and raw materials. All the things you need to do business. 

Business liability insurance is vital to any business. Getting sued or being involved in a legal action can be emotionally and financially devastating. Having enough insurance to feel safe is important. This insurance can cover a judgment against you and the legal expenses that result from it. 

Business interruption insurance is something that most small businesses can benefit from. If your business is closed by a covered hazard, this coverage will get you the money you need to meet payroll and your regular operating expenses. Be sure to read your policy to make sure that you are aware of any exclusions included in the policy. 

With over 40 years of experience, Powell’s Insurance in Clinton, NC has the expertise to help your small business get the coverage you need. Gives us a call or stop into our office for a no-obligation quote. 

Why do I need to have a home inventory

Owning a home comes with a lot of responsibility and worries. So many things can go wrong; the world is filled with hazards. Having a home insurance policy with enough coverage to provide peace of mind helps. It also helps to have an insurance agent you trust to be there when the time comes to file a claim on your home insurance. Powell’s Insurance in Clinton, NC has more than 40 years of experience serving the resident of the area. 

When you file a home insurance claim, having a home inventory makes the process go a lot smoother. When you lose your personal property, you will have to tell the insurance company what you lost. When you have suffered a loss, sometimes there is not a lot left to remind you of all your possessions. What a home inventory does is to provide all the backup information that your carrier will ask for. It gets things moving a lot quicker.

You can make an inventory with a pad and pen, or you can make a digital one using pictures. No matter which option you choose, it is vital that you give as much detail as possible. Be very descriptive with brand names, date of purchase, model, and serial number where appropriate. Attach any receipts that you have for the items included. Once you have created the inventory, you must put it someplace safe to easily get to it after a covered event. 

When you need an insurance agent who can assist you in Spanish and English, Powell’s Insurance in Clinton, NC is the one to call. We will be here to help you if you ever need to file a claim. If you are looking for an agent you can count on, we won’t let you down. Give us a call or stop by and let us make sure you have the coverage you need.