The Importance of Maintaining Homeowners Insurance

Your home is most likely the biggest thing you own and the most expensive. You’ve put a lot of money into it. You made repairs to the roof, updated the fixtures, and installed new flooring. This has become a huge investment. Why not protect it? Homeowners insurance is the only way to make sure that your home is safeguarded from disasters.

Why You Need Homeowners Insurance

The #1 reason to have homeowners insurance is protection. Coverage usually applies to the buildings’ structure and its contents. Depending on your policy, you can get protection for everything inside of your home. Talk with your independent insurance agents in Matthews, NC at JC Demo Insurance Group, so they can help you tailor your coverage to include:

  • The House – repairing or rebuilding the homes’ structure.
  • Personal Belongings – could include furniture, electronics, appliances, clothing, and other valuables.
  • You, Your Family, and Guests – accidental injuries can be added to your policy to cover medical bills, hospital stays, and therapeutic costs.
  • Additional Costs – if you have to stay at a hotel for a few days while your home is being repaired because of fire or water damage.

What Happens If Your Homeowners Insurance Lapses

Homeowners policies were meant to pay for damages to your home if there is a disaster such as a fire, vandalism, lightning, earthquake, hurricane, or other catastrophes. If you allow your policy to lapse, you would not only have to pay for damages that arise, but your mortgage could go into default. At the time of closing, most lending companies agree to the loan if you acquire and maintain insurance coverage. When there is a lapse, the lending company may put your home in default.

Get in touch with JC Demo Insurance Group in Matthews, NC. Their independent agents can discuss with you the details of maintaining your homeowners insurance policy.

Why Teens Have Higher Insurance Rates

If you’re a teen driver or a parent of a teen driver you may already be aware that the insurance rates for these youngest of drivers are quite high. If you live in the Matthews, NC area, you may be wondering why adding your teen to your insurance costs so much.

Why the rates are higher

According to the Centers for Disease Control, the accident rate for drivers between the ages of 16 and 19 is higher than in any other age group. Driving is a complicated skill that takes time to develop. The problem is that the only way to get experience driving is to do it, and driving itself can sometimes be dangerous. Insurance companies know that teen drivers are at a higher risk for a claim, not because they’re necessarily more reckless, but because they don’t have the experience and mature judgment that older drivers have developed over time. Insurance companies aren’t "out to get" teen drivers. However, all drivers in higher risk categories, such as those with several tickets or accidents and, yes, teen drivers too, will pay higher insurance premiums.

What teens can do to keep rates as low as possible

While teens can’t do anything about their ages, they can keep their insurance rates as low as possible by doing a few things. First, teens should drive safely to keep a clean driving record. Things like traffic tickets and accidents can make insurance rates go even higher. Second, teens can ask the insurance agents at JC Demo Insurance Group about discounts for things like good grades or taking drivers’ education classes at school. Third, teens should consider carefully which cars are driven. Different cars have different insurance costs, so it may pay to shop around.

If you have questions about teen automobile insurance or any other insurance questions, contact the folks at JC Demo Insurance Group, serving the Matthews, NC area.