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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Choosing a Renter’s Insurance Policy

Posted on by Craig-Peterson Agency

You may think you don’t need insurance in Raleigh, NC because you don’t own your home. But if you’re renting an apartment, condo, or house, your landlord’s insurance only covers the building itself—not your belongings. Even if you’re recently on your own and have a few things of value, renter’s insurance is a must.

What is Renter’s Insurance?

Renter’s insurance is an insurance policy that covers your belongings in the event of certain disasters, such as a fire. It also provides liability coverage if someone’s injured in your home.

And, it can even cover your costs if you have to live elsewhere while your rental is being repaired. Your Craig Insurance Group agent can help you customize your policy to get the coverage you need.

Benefits of Renter’s Insurance

There are several reasons you should get renter’s insurance, even if you’re on a tight budget. For one, it’s relatively inexpensive—often just a few dollars a month. And, if something happens to your belongings, you won’t have to pay out of pocket to replace them.

But even if you have very little, a fire, flood, or other covered event can leave you with nothing. Many people don’t think about it.

Renter’s insurance also provides liability coverage, which protects you if someone’s injured in your home. This is important even if you don’t think you have anything worth suing for. And, if someone sues you, renter’s insurance can help pay for an attorney.

How Much Renter’s Insurance Do I Need?

We will be happy to help you figure out how much coverage you need. It’s a good idea to insure your belongings for their replacement value—what it would cost to buy them new.

You can also insure them for their actual cash value, which is what they’re currently worth. This option is often less expensive, but remember that it may not cover the total cost of replacing your things.

Contact Craig Insurance Group in Raleigh, NC today to get a quote on renter’s insurance. We’ll help you find the coverage you need at a price you can afford.

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Do I Need Rental Reimbursement Coverage?

Posted on by Craig-Peterson Agency

If you have been shopping for car insurance in Raleigh, NC, you have likely been advised to consider adding rental reimbursement coverage to your policy at some point. You should get rental reimbursement coverage because it’s among the essential auto insurance add-ons that you can get.

Here’s what to know.:

1. What Is Rental Reimbursement Coverage? 

Suppose you get into a collision, and your vehicle is damaged, and you have collision or comprehensive coverage as part of your auto insurance cover. In that case, the insurer will pay to repair it. According to reliable statistics, the average duration for a car repair after a collision is 11 days. This means that you will not have your car for the period of the repair and you need alternative transport which will cost you extra. Rental reimbursement coverage will pay the additional cost of you using alternative transportation.

2. Why Do You Need Rental Reimbursement Coverage?

There are numerous advantages to having rental reimbursement coverage on your auto policy. This is why at Craig Insurance Group, we encourage you to get this coverage. The advantages are:

  • Cheaper cost: Paying for alternative transportation out of pocket when your vehicle is being repaired after a collision can be very expensive. This is especially true if you have to rent a car. Getting rental reimbursement coverage is a cheaper alternative. The coverage is usually affordable because most insurers have business deals with car rental companies. 
  • Convenience: Not having a mode of transportation can be very disruptive to your life, especially if you hadn’t set aside some emergency money for this purpose in advance. Having rental reimbursement coverage as part of your auto policy eliminates this hurdle. Additionally, your insurer will conveniently provide you with a rental car as soon as they take away your vehicle for repair. 

Are you a Raleigh, NC, resident looking for auto insurance with useful coverage add-ons? Contact Craig Insurance Group today.

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Boat Safety Tips

Posted on by Craig-Peterson Agency

There are few things better than spending a day on the water with your friends and family. Keep yourself, your friends, your family, and other boaters safe by following these five tips outlined below:

  1. Have a Boat Safety Kit: Since you can’t always predict when an emergency or accident will happen, you want to be prepared as best as possible with essential items like a flashlight, duct tape, first aid kit, fire extinguishers, bucket, garbage bags, whistle, and a mirror to signal for help. 
  2. Check Your Life Jackets: Many people believe that a life jacket’s only job is to keep you afloat, but this is far from the case with the majority being designed to keep you face up if you lose consciousness and prevent hypothermia. By law, you must have a Coast Guard-approved life jacket for each person on the boat and anyone under the age of 13 must wear a life jacket at all times. 
  3. Know the Weather: Inclement weather can move fast so be sure to check that there are incoming storms before you leave the house.
  4. Participate in a Boating Safety Course: With the majority of boats being caused by operator error, it is imperative that everyone on the vessel knows how to safely operate a vessel and any state-specific requirements. BoatUS Foundation maintains a number of free boating safety courses that can be taken online. 
  5. Have Your Vessel Inspected: The U.S. Coast Guard Auxiliary offers free Vessel Safety Checks that ensure your boat is ready for the water. As an added benefit, there are no penalties if your watercraft does not pass.

For more information on boat insurance, schedule a complimentary consultation with an employee at Craig Insurance Group in Raleigh, NC. We look forward to helping you with all your insurance needs.

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4 Key Areas Covered by RV Insurance

Posted on by Craig-Peterson Agency

Owing an RV is quite an investment as it doesn’t come cheap. It’s also an exciting feeling touring with everything under one roof. But before you hit the road, think about your safety and your huge investment. RV insurance is a safety net you ought to think about in case of an unfortunate occurrence. That said, you need proper coverage for your RV. Many coverage options are available, making it essential for you to understand them before signing that policy.

Craig Insurance Group is here to help you understand four key areas covered by RV insurance. Let’s explore.

  • Liability coverage: North Carolina requires you to have at least a minimum liability coverage if your RV is on the road. Liability insurance protects you from damage or injuries caused by your RV to others like legal costs, medical, or property damage.
  • Comprehensive coverage: Some accidents do not necessarily happen on the road. You never know what can happen outdoors, so comprehensive coverage is ideal. It covers most of the things that may happen to your RV, like fire, vandalism, theft, etc.
  • Collision coverage: Collision coverage foots the cost of repairing or replacing your RV regardless of who is at fault. However, you will have to pay for the deductible as stated in your policy.
  • Underinsured/ uninsured motorist: Not everyone will follow the law. You still find uninsured motorists on the road. If your RV got hit by someone with no insurance, you would have to foot the bill. It is the same case if the underinsured hit you. The cost may not come cheap. That’s why underinsured and uninsured policies come in handy.

RV insurance in Raleigh, NC

You don’t want to be on the wrong side of the law, and nor do you want to wipe out all your savings in the name of RV damages and claims. Be smart, buy RV insurance, and travel the world with nothing to worry about. If you live in Raleigh, NC, or the surrounding area, contact us at Craig Insurance Group for your policy.

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What exactly is umbrella insurance and why do I need it?

Posted on by Craig-Peterson Agency

Umbrella insurance is one of those types of insurance that makes most people just shake their heads. They are not sure exactly what it is and why they need it. At Craig Insurance Group in Raleigh, NC, we want to make sure that all of our clients know what umbrella insurance is and why it would be a good idea to have it. As independent insurance agents, it is our job to provide our clients with the information they need to make informed decisions about coverage. 

It is not surprising that the term umbrella insurance confuses people. It is not insurance that protects your umbrella. But, if you picture an umbrella and the type of protection it offers you from a rainstorm, you get a better idea of why it is called umbrella insurance. 

In order to purchase umbrella insurance, you already need to have a primary policy that has liability coverage. Umbrella is excess liability coverage above and beyond what your policy has. When you have an umbrella policy, it works with all the other liability coverage that you have. It can protect your assets from legal action from an auto accident, injury at your home, and more. 

What liability insurance does is protect your assets. If you have no assets, then you don’t need umbrella insurance, but most people have more assets than they realize. If you get sued, your assets could be lost to a judgment against you if you don’t have enough liability coverage. A typical umbrella insurance policy starts at one million dollars and goes up from there. With the size of judgments these days, having enough liability insurance is essential. You don’t need to be wealthy to benefit from this important insurance coverage.  

Contact Craig Insurance Group in Raleigh, NC for all your umbrella insurance needs. 

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