Author: Craig-Peterson Agency

How Can I Benefit From Boat Insurance?

Posted on by Craig-Peterson Agency

If you own a boat in the greater Raleigh, NC region, you’re gonna need to get boat insurance. Here at Craig Insurance Group know that we can help. Besides the fact that boat insurance is required, there are a few less-than-obvious benefits to creating a policy. 

Boat Insurance Benefits

1. Investment Protection

A boat is a huge investment, and that investment deserves to be protected. Without insurance, you risk losing your investment in the event of an accident or other unforeseen incident. Be aware that a single storm can sink boats, while a fire in a nearby boat can burn your boat, or you could become a victim of vandalism. With boat insurance, you’ll have peace of mind knowing that if something terrible happened to your boat, you aren’t losing the investment you made.

2. Personal Protection

If you injure a passenger or a swimmer or damage another boat while operating yours, you will be held accountable for their bodily harm and medical expenses. You may potentially face legal action.

Even if you are not held guilty, be aware that legal fees can quickly pile up and cost you a lot of money. However, yacht insurance will cover those expenses, and you will not be personally liable for them.

3. Passenger Protection

Anyone you grant permission to use your vessel is protected, as are passengers partaking in water activities. If you or any of your passengers are injured while boating, the medical bills, and lost pay will up quickly.

Even more so if an injury occurs as a result of someone else’s uninsured watercraft. Nonetheless, you may safeguard your passengers and yourself from such expenses.

4. Total Loss Replacement

If your boat sinks or is destroyed due to fire or irreparable damage, you would face a significant financial loss. Policies may cover entire loss replacement, allowing you to get back on the water quickly. If boating is a significant family activity or a hobby, this benefit of boat insurance is well worth the expense.

Call Us Today

Here at Craig Insurance Group, we are proud to offer boat insurance to citizens in and around Raleigh, NC. Give us a call today so we can create a policy that best fits your needs. We are dedicated and ready to help answer any questions you may have. 

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North Carolina RV Insurance

Posted on by Craig-Peterson Agency

Your North Carolina RV is a vehicle, but it provides so much more value.  In order to maintain this RV-based enjoyment, however, you’ll need to follow the local laws and protect your investment. Craig Insurance Group in Raleigh, NC understands RV insurance needs and has these tips for RV owners. 

North Carolina RV Liability Coverage

RVs travel down the highways just as any car and thereby need similar liability coverage. The state of North Carolina describes three types of coverage that might apply:

  • Bodily injury is the coverage that protects you in the case of an accident where someone gets hurt. That injury could be inside your RV or someone impacted on the street or in another vehicle. This coverage provides medical care and more.
  • Property damage is the liability coverage that will support payment for the impacted vehicles, homes, or city property that may have been damaged in your accident. 
  • Supplementary liability coverage is the support you need for legal complications. This coverage can help cover bail bonds, loss of income, and legal judgments.

Uninsured motorist coverage is the policy you want to protect you from a driver who does not have any of the above.

Damage and Repair Coverage

Damage and repair of your RV will be a separate feature from your liability policies. These coverages are not typically mandatory by state law but are sometimes required for an RV loan. Damage and repair cover things from fixing a panel after a crash to hail damage to towing, depending on your policy specifics. You may also consider a personal property policy for your RV, especially if you store many of your expensive items inside your vehicle. 

Give Us A Call

Craig Insurance Group serves RV owners with all their insurance needs in Raleigh, NC. Contact us today to learn more.

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What Types of Umbrella Insurance Are There?

Posted on by Craig-Peterson Agency

Umbrella insurance is a type of voluntary indemnification. While there is no law in Raleigh, NC that compels residents to purchase a policy, this category of coverage is designed to work alongside other preexisting insurances. 

Why Umbrella Insurance?

This means that you can purchase umbrella insurance to supplement your auto insurance, homeowners, or commercial policies. Your standard insurance policy limits must be exhausted before the umbrella insurance kicks in, and these will typically have caps that are significantly higher than what your primary indemnification can offer. 

This is a good option if you have investments that are worth more than what your regular insurance will cover or if you potentially face hazards that could cost you significantly. Umbrella insurance policies can usually offer protection that runs into millions of dollars. 

Another benefit of umbrella insurance is that it will often offer subcategories of coverage that your standard policy does not include, and this will differ, depending on your contract. Ask your Craig Insurance Group representative for specifics on what would be covered. 

Your umbrella insurance can also extend to other members of your family who inhabit your home, for example, with homeowners insurance. Dog bites can be a covered peril, as can attorney’s fees with regard to lawsuits.

Umbrella insurance is usually inexpensive and works to protect your assets in the event that you encounter a costly life event. Parents of teenagers, for example, can be held responsible for paying exorbitant bills if a court of law finds their son or daughter liable in an automobile accident. 

Craig Insurance Group is Here To Help

We take pleasure in providing the residents of Raleigh, NC with insurance products and services to protect every area of their lives. Please reach out to us for more information by calling, reaching out online, or stopping by in person. We look forward to working with you. 

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How Flood Insurance Can Help Save Your Home

Posted on by Craig-Peterson Agency

The only thing worse than experiencing a natural disaster like a hurricane or heavy downpours is to discover that you don’t have insurance when unexpected flooding leads to severe water damage in your Raleigh, NC home.

Experienced property and flood insurance agents at Craig Insurance Group can help you protect your home and valuables against devastating floods.

How Flood Insurance Can Help Save Your Home

Flood insurance falls under the umbrella of property insurance. It helps homeowners and commercial business owners to protect themselves against the financial losses that can occur as a result of flooding.

Flash flooding can occur due to heavy rain, storms, or other natural disasters. 

Having the right flood insurance policy in place can help cover the cost of flood-related repairs and help protect policyholders against financial loss.

What Does Flood Insurance Cover?

Flood insurance helps North Carolina homeowners and business owners cover the cost of damage to their homes or business in the event of flooding.

It can cover costs related to flash flooding or floods caused by hurricanes, thunderstorms, heavy rains, and other events that cause floods. 

Having flood insurance can also help policyholders with evacuation and temporary relocation expenses for residents displaced by rising flood waters. 

What Does Flood Insurance Cost? 

Flood insurance costs depend on the value of your property, its location, and whether it is in a high-risk area for flooding.

Even if you don’t live in a high-risk area or on the coast, it’s still important to purchase flood insurance, since floods can occur anywhere at any time.

Give Us A Call

Need flood insurance? Talk to a licensed insurance agent at Craig Insurance Group to learn about flood insurance and get a free quote in Raleigh, NC and surrounding areas.

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Why you should have renters insurance

Posted on by Craig-Peterson Agency

When you are a renter, you don’t have many of the risks that you have as a homeowner. However, you do have personal property, and you do still face some risk. At Craig Insurance Group in Raleigh, NC, we want to ensure that our customers understand the benefits of having the protection that renters insurance provides. Most of what you own is probably in your rental, and it needs to be covered. 

Why you should have renters insurance

You may be under the impression that your landlord or management company has insurance that protects your property in the event that your rental meets with a catastrophe. That isn’t the case if you don’t have some sort of rental insurance, you will lose everything that you own. Your property insurance also covers your possessions when you leave home with them. 

Rental insurance is more than just personal property coverage. It offers liability coverage as well. If someone is injured while visiting your rental or by a member of your family while they are not at home, this could provide the protection you need. You may think that no one will sue you if you don’t own a home, but as long as you have assets or earning potential, you can be sued. 

Another coverage that comes with renters insurance is loss of use coverage. You may have never thought about it, but where would you go if your apartment was damaged by something serious and was not habitable? If you have renters insurance, you will be able to go to a hotel immediately, and if it is long-term, you can get another rental until yours is available to use. Your insurance will also pay for some meals if you can’t cook.

Give Us A Call

Contact Craig Insurance Group in Raleigh, NC if you are a renter and need information. 

 

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Do I Need RV Insurance for my 5th Wheel?

Posted on by Craig-Peterson Agency

Many would agree that RVs are an exciting and convenient way to travel with your home on wheels. However, there are many different kinds of recreational vehicles and the insurance requirements can vary. Our team of insurance experts at Craig Insurance Group knows that it can be confusing when it comes to understanding insurance requirements regarding your RV. We’re here to take the guesswork out of insurance for our Raleigh, NC residents.

What is RV Insurance?

RV insurance is similar to auto insurance in that it provides protection against liability, bodily injury, and property damage. Like auto insurance, you can purchase more than just liability insurance and get coverage for the repair and/or replacement of your RV. Roadside service and other benefits can be added to RV insurance as well.

A motorized RV is still a vehicle of sorts. This is why you’re required to carry RV insurance on any motorized recreational vehicle. Like a car, it’s a moving vehicle prone to collisions and everything else that a person driving a vehicle would be prone to. 

Do I Need RV Insurance for my 5th Wheel?

No. A fifth wheel doesn’t have a motor. You’re not required to carry RV insurance on your fifth wheel. However, this doesn’t mean that you should go without insurance. If your fifth wheel is damaged you’ll have to pay for the damage out of pocket if you don’t have insurance. Investing in travel trailer insurance is a good way to protect your fifth wheel. Travel trailer insurance will help you pay for any damage sustained by your travel trailer.

Contact Us Today

If you have questions about RV insurance, call us at Craig Insurance Group in Raleigh, NC. We’d be happy to explore your options.

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Does Boat Insurance Cover a Boat That is Being Stored for the Winter?

Posted on by Craig-Peterson Agency

One of the most common mistakes that we at Craig Insurance Group, serving the greater Raleigh, NC area, have seen boat owners make, is canceling their boat insurance during the winter months when their boat is not being used. They do not understand whether or not boat insurance covers boats that are being stored or what types of damage can occur to boats being stored for the winter. 

What Types of Damage Can Occur When Your Boat is Being Stored? 

When a boat is being stored, damage can still happen. Boats that are stored outside are susceptible to the weather and outdoor elements. Flood waters and falling tree limbs can damage the boat. Vandals can also damage a boat that is being stored outside. Boats that are being stored inside or outside can also be damaged by fires or can be stolen. 

Does Boat Insurance Cover a Boat That is Being Stored? 

Boat insurance may cover your boat while it is not being used if you have a comprehensive boat insurance policy. Not every policy will cover a boat while it is being stored, but it is highly recommended that you find a policy that does fully cover your boat, both on land and in the water. 

Contact Us Today

Boat damage can occur when a boat is on the waterways being used, or when a boat is being stored in the winter months. Here at Craig Insurance Group, serving the greater Raleigh, NC area, we help to find you boat insurance that fully covers your boat when it is being used on the water and when it is being stored in the winter. Call us today and let us find you the ideal boat insurance policy for your needs. 

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Does Umbrella Insurance Cover Accidents?

Posted on by Craig-Peterson Agency

Many people have both home and auto insurance policies. Each of those policies comes with a number of different kinds of coverage. One of those is your liability coverage.

When an accident happens, your liability coverage is what pays for the medical bills and other costs that are due that you are responsible for. Home and auto policies come with this protection, but often not enough of it. When there is an overage after these policies have paid out, you are responsible for paying it. However, that’s not the case when you have umbrella insurance. To get yourself this coverage, reach out to us at Craig Insurance Group in Raleigh, NC.

Here is how umbrella insurance provides liability coverage:

Paying for Accidents

When an accident happens and someone is injured, and the accident is your fault, you are generally responsible for paying for the costs associated with it, including the medical bills that can be so expensive. If you don’t have much liability coverage in your home and auto policies, a bad accident can often eat through all of the payment from the insurance company and leave more for you to pay. To combat this, many people get umbrella insurance. It covers you by giving you more liability coverage so that you won’t have to pay those overages. 

After an accident has happened and someone is injured, your home or auto policy will come in and take the claim. They will then pay up until they reach the limit of your policy. If you have an umbrella policy, anything that is left over after that is paid for by the umbrella insurance. This can save you many thousands on medical bills and other expenses. 

Get Umbrella Insurance Today

To keep yourself better protected against liability, you need an umbrella insurance policy. Call us at Craig Insurance Group in Raleigh, NC.

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3 Facts about flood insurance

Posted on by Craig-Peterson Agency

It’s easy to get drowned out by all the misinformation surrounding flood insurance. Luckily, Craig Insurance Group can keep you anchored. 

Our skilled staff can help you add a flood insurance policy that protects you, your loved ones, and your home. But, even more importantly, the agency is a great resource.

Here are four key flood insurance facts that everyone should know:

Flood insurance is a necessity

Flood insurance is rarely required. Yet it’s always warranted. And not just for high-risk areas. Under the right conditions, anyone is at risk of flood damage. In fact, FEMA reports that individuals who live in low to moderate-risk zones are five times more likely to face a flood than a house fire.

Flood insurance is likely missing from other policies

Many people incorrectly assume they already carry flood protection. This misconception can be costly. Although renters have some coverage through their landlord or building association’s plan, this is limited. It typically applies only to the building itself, excluding any interior damage. Only a dedicated flood insurance policy can safeguard your belongings.

Flood insurance is easy to add and federally supported

All policies are backed by the National Flood Insurance Program. These are then issued through local, private agencies, like Craig Insurance Group in Raleigh, NC. Although pricing will vary based on coverage needs, location, and a risk assessment, it’s easily added to existing policies.

Contact Us Today

No matter where you live in the state, floods are often unexpected and unavoidable. It’s important to be prepared. In addition to providing protection, a flood insurance policy provides peace of mind. Craig Insurance Group in Raleigh, NC is here to help. Schedule an appointment today.

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What Are The Three Main Types of Life Insurance?

Posted on by Craig-Peterson Agency

Life insurance can be a difficult topic, both emotionally and practically. With eight different types of life insurance available, how would you know which is the best option for you? At Craig Insurance Group, we’re committed to helping people just like you navigate the world of life insurance, so they walk away with a policy that suits their needs. We’re happy to serve the Raleigh, NC area, and appreciate all of our clients.

There are three main types of life insurance that you may be interested in exploring:

1) Term Life Insurance

Cheaper than other types of life insurance, term life insurance lasts for a set number of years. You make payments when you buy the insurance and your beneficiaries receive the money once you’ve passed away. If this occurs before the term is over, a set amount of money will be paid to your beneficiaries, typically in a lump sum.

2) Whole Life Insurance

Unlike Term Life Insurance, this insurance does not expire. Instead, there is a death benefit and a cash value, essentially an investment-like savings account. You will be covered as long as your premiums are paid.

3) Universal Life Insurance

Much like Whole Life Insurance, Universal Life Insurance is set up with a death benefit and cash value. It should be noted, however, that the interest rate on Universal Life Insurance is influenced by the current market rate. Therefore, if the interest falls below a minimum threshold, your premium will have to rise in order to make up the difference.

Give Us A Call

Contact us today at Craig Insurance Group to speak to one of our qualified agents about your life insurance options. We’re proud to serve the Raleigh, NC area and are available to help you navigate the world of life insurance.

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