Disaster strikes without warning. It strikes everywhere. For instance, many years ago, a plane emergency landed on I-16 just outside Savannah, GA. A car or a bus could flip over in the green area surrounding a commercial office building. In these cases, you want Wayne Realty & Insurance Co Inc. in Goldsboro, NC, to have your back. Here’s why.

Is Property Insurance Meant for Both Personal as Well as Commercial Property?

Property is property, whether you own, rent, or lease it. The rare business, for example, owns the structure in which it works. That leaves an owner needing insurance on his commercial property. 

What’s meant by "property" is personal North Carolina land, rented or leased, upon which barns, sheds protecting machinery, silos, detached garages, pool houses, and other useful buildings rest. Vandalism, storms, or a vehicle could destroy these. 

Is This Type of Insurance Different from Flood or Disaster Insurance?

Yes. If a house had flood insurance, for example, no other structure on the property would be covered, such as sheds. Property insurance protects various buildings from the vagaries of weather, fire, and other kinds of trouble.

What Does Property Insurance Not Handle?

Typically excluded from property insurance policies are:

    • Money, bonds, bills, food stamps

    • Pets and animals that aren’t stock

    • Trucks, trailers, watercraft, and aircraft

    • North Carolina docks and piers

    • Hay outside the buildings and crops

    • Excavating or grading equipment

Final Thoughts

Property insurance isn’t about the grass but the structures on the grass. Not every insurance policy covers those, but Wayne Realty & Insurance Co Inc. in Goldsboro, NC policies do. Planes have been known to emergency land on wide and empty properties. Ensure yours is covered by dropping in or calling to learn more about it.

Being a business owner has continued to be a dream for many in the Goldsboro, NC area. When you want to build a business in this region of the state, you must evaluate all risks and mitigate them as well as you can. An excellent way to mitigate various risks is by getting a commercial policy offering the support you need. There are various reasons you will need this coverage.

Receive Financial Protection

A reason that all businesses here should have this coverage is so they can receive adequate financial protection. With commercial coverage, you will have financial support if you are named liable for damages. Further, if you lose commercial assets due to a covered risk, you will be supported to replace or repair these assets. 

Comply with any Requirements

A business today is also going to need to have this coverage so they can comply with any requirements that they have. When you start and grow a business, you will have to sign various documents that will require you to have insurance. This includes loan agreements, investor contractors, and documents signed with your top vendors and clients. If you have this coverage, you will meet these requirements and can remain in good standing. 

Those residing in the Goldsboro, NC area will want to know if they have selected the right insurance for their business. As there are complexities that come with choosing this type of coverage, starting your search with Wayne Realty & Insurance Co Inc. is a good option. The professionals at Wayne Realty & Insurance Co Inc. know how important this coverage is, and they will give you customized guidance to help you build your following policy. 

Commercial property insurance is not a legal requirement for Goldsboro, NC business owners, but very often, a lender will require you to purchase a policy. Even when this is not the case, there are important reasons to consider opting into this protection. 

Consider Where Your Inventory is Stored

If you house a fleet of machines needed to move stock or perform other tasks, these can be damaged when a storm, high winds, or water damage occurs. In addition, your building may be subjected to a fire or even an electrical surge.

In such an event, your raw materials can be obliterated, taking your ability to earn an income with them, and finished products can also be destroyed. Commercial property insurance gives you some recourse in these situations, and your Wayne Realty & Insurance Co Inc representative can answer specific questions about what is included. 

Do You Have Visitors?

Depending on your business, you may have customers that enter the premises and that can be subjected to falls, hurting themselves. When this happens, you can be responsible for paying for medical expenses due to injuries and even lost wages.

There are scenarios when you can be taken to court if a reasonable outcome is not achieved. Any accidents involving your equipment can occur, and incidents of this type can be devastating to a business owner. Your reputation is also at stake, and commercial property insurance allows claims to be handled promptly and professionally. 

Wayne Realty & Insurance Co Inc. Can Help

We specialize in personalizing insurance plans to meet our client’s needs, and we work with business owners in the Goldsboro, NC region. Contact us for more information by calling, stopping at our office, or visiting us on the web. 

Life isn’t always predictable. You could be in the best of health today and experience a significant health event tomorrow. That’s why it’s essential to have health insurance that will cover you in an emergency. If you live in Goldsboro, NC, Wayne Realty & Insurance Co Inc. will help you compare different plans, including a catastrophic policy.

What Is a Catastrophic Health Insurance Plan?

A catastrophic health insurance plan is a type of health insurance that provides coverage for medical expenses related to accidents or illnesses that are considered life-threatening. Catastrophic health insurance plans typically have high deductibles. You’d have to pay for most of your medical expenses before your insurance would kick in.

If you are considering a catastrophic health insurance plan, there are a few things to keep in mind:

• Ensure your plan meets the minimum requirements for coverage under the Affordable Care Act (ACA). 
• Decide how much coverage you need and whether you want additional benefits such as prescription drugs or mental health coverage. 
• Compare the costs of different plans to find one that fits your budget.
• Review the plan’s terms and conditions to ensure you understand what is covered and what is not.

Catastrophic health insurance plans can help care for high medical costs if you experience a significant health crisis. However, short-term health insurance might be an option if you’re healthy and don’t think you need major medical coverage. But it’s good to be safe than sorry.

Wayne Realty & Insurance Co Inc. can help you weigh your options and find the perfect health insurance plan for you and your family. If you’re in Goldsboro, NC, give us a call today!

Owning a business has risks, and there is not much you can do except try to protect yourself with commercial insurance. Each company has its own set of risks, and having an insurance agent who understands your type of business is essential. Wayne Realty & Insurance Co Inc. in Goldsboro, NC has a team of experts who can help you to choose the correct elements for your commercial policy to maximize your protection. 

Should I have commercial property insurance for my business if I don’t own the building?

Commercial property insurance covers a lot more than just the building. It will cover the building if you own it, but if you are a renter, it will cover everything you use to do business. It covers machinery, office equipment, records, inventory, raw materials, display units, and tools. Whatever your particular business uses. 

Do I need workers’ compensation insurance in North Carolina?

If you are an employer with three or more full or part-time employees in North Carolina, you are required to protect your employees with workers’ compensation insurance. 

Is commercial insurance necessary for home businesses?

Yes, it is. You’re mistaken if you think your home property insurance will be adequate for all your business property. Your home liability coverage will not protect you if someone is injured while visiting you on business. You also can’t use your personal vehicle to do business; it needs a commercial auto policy. 

Is business interruption insurance worth it?

It can mean the difference between surviving a hazard and closing your business. But, you need to read the exclusions, and what types of hazards are covered to determine if the coverage will be of value to you. 

Contact Wayne Realty & Insurance Co Inc. in Goldsboro, NC to help choose the perfect coverage for your business. 

Umbrella insurance is arguably the most important type of personal liability coverage that you can get in Goldsboro, NC. Why do you need to pay for another liability insurance coverage yet already have regular liability coverage? Umbrella insurance covers liability that exceeds your homeowners, renters, auto insurance coverage, or liability that isn’t covered by these policies. Here are reasons you need umbrella insurance:

1. If You Live With Inexperienced Drivers in Your House

Handing your car keys to an experienced driver such as a teenager requires a lot of faith. This is because their inexperience can result in nasty accidents with many injuries to persons and a lot of property damage that exceeds your auto insurance policy limit. Umbrella insurance will pay for the above-the-policy limit costs of medical bills and property damage that you would otherwise pay out of pocket.

2. If You Have High-Value Assets or Significant Savings

The more high-value assets like property and significant savings you have, the more you are bound to lose in case of a lawsuit. Substantial savings and high-value assets make you a target of nefarious lawsuits from unscrupulous persons. Getting umbrella insurance in such a situation means that your high-value assets and savings are protected from being used to settle a lawsuit. Wayne Realty & Insurance Co Inc. usually advise our clients to get umbrella insurance to protect their wealth.

3. If You Keep Certain Dog Breeds

Although we like to keep dogs as pets, they still have their natural predator instinct. Certain dog breeds like Pit Bull, German Shepard, and Rottweiler are highly aggressive and can viciously attack your neighbors and even passers-by and injure them badly. Umbrella insurance will cover such liability as it isn’t covered under the homeowners’ policy. 

Contact Wayne Realty & Insurance Co Inc. for the best umbrella insurance deal in Goldsboro, NC.