The Benefits of Having Commercial Insurance to Cover Special Risks

Most business owners know about the basic commercial insurance needed to protect a business, which includes workers’ compensation, general liability, property insurance, and commercial vehicle insurance. A business may need product liability insurance if it produces or distributes products.

Depending on a person’s occupation there may be a need for professional liability insurance as well. The is also called malpractice insurance for those in the health care sector and attorneys. It may be called errors and omissions (E&O) for those professionals providing financial services, such as financial planners, stock brokers, and tax accountants.

Basic commercial insurance for a business may not be adequate because new risks are becoming more common.

Protection From New Risks

To address these new risks, which are now being experienced by most businesses, there are customized commercial insurance policies that work in combination with umbrella insurance to provide protection for things like:

  • Terrorist Attacks: Mass shootings and product tamperings.
  • Industrial Accidents: Oil spills, gas leaks, and biohazards.
  • Cybersecurity Breaches: Stolen personal information, fraud, and malware.
  • Severe Weather Damage: Flooding and hurricanes caused by climate change.
  • Lawsuits: Defamation, slander, libel, discrimination, and sexual harassment in the workplace.

Talk with your agent at JC Demo Insurance Group, serving Matthews, NC, and the surrounding area, about these risks and others that are potentially serious. The goal is to reduce these risks that could negatively affect your business. Your agent can help to determine how insurance can alleviate some of your exposure.

Business Interruption Insurance

Many businesses find it wise to carry business interruption insurance. For example, even if a business is not damaged when a natural disaster hits the area, it still may not be able to operate due to the power-down condition and/or dangers. Business interruption insurance helps pays the bills for an ongoing business if it is temporarily not able to operate normally.

Contact your agent at JC Demo Insurance Group in Matthews, NC by calling 704-541-5155 or using the convenient online form to get a quote for new commercial insurance or to upgrade your commercial insurance for your business.

Retiring to North Carolina? – Life Insurance Review!

Is There Ever A Bad Time To Review Your Life Insurance Needs?

Are you in Matthews, NC right now? If so, come in today and pose that question to the professionals at JC Demo Insurance Group. We dare you. Do you know what our response will be? A resounding "no" , there is never a bad time to review your life insurance needs.  

Life Insurance Review For Retirees

North Carolina is a popular location to retire in. Retirement is a great time to take a careful review of your financial situation. Life insurance is not just a means to pay for final expenses. Life insurance can be an investment tool to ensure you can cover major life expenses. Depending upon the type of life insurance product you currently own, chances are your needs have changed greatly with retirement. You may want to travel more extensively, pay off an existing mortgage and downsize your living accommodations, essentially the sky is the limit to the choices that are in front of you as you retire. This is the logistical freedom you have worked for all of your life. Reviewing your policy with one of our professionals will give you a clear view of how your coverage can adapt to your retired lifestyle.    

As the old adage says, there is no time like the present. JC Demo Insurance Group is located in Matthews, NC. Our telephone number is 704-541-5155. Call or come right into our office today to learn how we can assist you with your insurance issues. We serve both North and South Carolina. We provide coverage for several different aspects of your life.  Our professionals can discuss your; Business, Auto, Home and personal insurance for your recreational vehicle or just about any insurance question you can think of. 

Bundling your business indurance coverage

Business insurance is complicated because of the many issues involved in creating coverage for business owners. One solution is the Business Owners Policy, or BOP, that combines protection from all the areas of risks and liabilities in one package. The JC Demo Insurance Group in Matthews, NC can help you determine the level of coverage our business needs. You can get the whole package or any part of the package that you decide you need.

The policy starts with coverage for the building and contents. If you don’t own the building, you would still need contents coverage. There is also specialized coverage for certain types of content coverage.

The BOP also includes business interruption coverage which covers the loss of income if you are unable to operate your business. If there is a fire or some other catastrophe that stops your business from operating, you would have your income covered. It can also cover the costs of operating from another location.

A third part of the package is liability coverage. This would be a basic liability policy covering things like accidents where people get hurt o your property. It would also cover you for any liability from a product you made that was used off the property.

 A business owners policy does not cover auto insurance, workers compensation or health insurance for employees. Those would have to be bought separately but could be included in your overall portfolio of coverages.

Bundling your coverages like this can save you some money. They also offer you a lot of flexibility as you can mix and match portions to your needs. Stop by or call the JC Demo Insurance Group in Matthews, NC to learn more about getting insurance for your business. We can help you understand all your options and help you get the best insurance for your situation.

 

 

What does life insurance cover?

Life insurance is an asset that some take for granted in Matthews, NC. It is not until the unfortunate happens, though, that an indemnity plan as such becomes an absolute treasure. You should understand the details of any assurance plan before agreeing to pay a monthly premium.

An agent from JC Demo Insurance Group can help you determine which indemnity policy works best for your lifestyle. Read this article about the basics of life insurance before scheduling your meeting!

What is life insurance?

Life insurance is a plan that allows you to have a bit of serenity. A life assurance policy pays for your final expenses so that your loved ones do not have the extra burden of trying to figure out how to cover funeral costs and other bills. A life indemnity plan may also cover lingering expenses such as mortgage payments and credit card bills left behind after a death.

The best life insurance policy provides enough financial support for family members to survive after an individual’s untimely death in Matthews NC. Such is the reason why some breadwinners choose to pay higher premiums for more coverage.

Call us for help!

There are various stipulations in a life assurance plan that could lead to forfeiture of coverage. Such is the reason why it is important that you speak with an agent from JC Demo Insurance Group before agreeing to a policy that may not fit your lifestyle needs.

An agent can help you understand the criteria used to determine your monthly premium amount. He can also explain your responsibilities as a policyholder. Call JC Demo Insurance Group today for a life insurance quote that gets you headed in the direction of better financial security in Matthews, NC!

Can Anyone be a Life Insurance Beneficiary?

Although you can name practically anyone to be the beneficiary of your life insurance policy, it only makes sense to select individuals you want to help financially after you’re gone. Life proceeds can provide financial support to one or more people for years to come. By choosing wisely, you can ensure these funds are put to excellent use. If you’re unsure who to select as a beneficiary, consider the following:

You Can Choose More Than One Beneficiary

You can choose more than one beneficiary to receive proceeds from your life insurance policy. You can divide proceeds evenly between your beneficiaries or designate the percentage you want each beneficiary to receive. Having control over the distribution of life benefits makes it easier for you to help loved ones in Matthews, NC in the way you feel they need it most.

Beneficiaries Can Be Primary or Contingent 

Your primary beneficiary is your first choice for receiving life proceeds upon your demise. This can be one or several people. If all your primary beneficiaries expire before you do, life benefits automatically go to your contingent (or secondary) beneficiary, which may be one or more people as well. Having both primary and contingent beneficiaries ensures funds are distributed the way you want.

Beneficiaries can be Revocable or Irrevocable

A revocable beneficiary can be replaced if you change your mind later on. An irrevocable beneficiary cannot – unless he or she gives consent. If you purchase a life policy when you’re young, it may be to your advantage to designate your beneficiaries as revocable as it gives you a chance to reconsider if your situation changes later down the line.

A life insurance policy from JC Demo Insurance Group can provide financial security for loved ones after you’re gone. For greater insight into life insurance options and costs, contact JC Demo Insurance Group in Matthews, NC.

How do I know if I need business interruption insurance?

When you choose a commercial insurance policy at  JC Demo Insurance Group, you get a lot of options. You know the obvious needs of your small business in Matthews, NC, such as property insurance and general liability. You may need business auto insurance or worker’s compensation.

You may not realize how vulnerable you are if you don’t also have business interruption insurance. Before making your final decision, you should consider the kinds of expenses covered by this sort of policy and when it comes into effect. 

When does a Business Interruption Policy start working?

Nobody wants to think their business could be the victim or a disaster, but it happens all too often. A fire, vandalism or a natural disaster could cause your business to stop operations.

During that time, your creditors, vendors, utilities, and others will still expect you to meet your responsibilities. Money won’t be coming in, but it will continue to go out.

What kinds of expenses your Business Interruption Policy will cover

Your policy will protect you for the amount of money you would have been able to earn, based on your financial records, if you were doing regular business. That means that if you have a Business Interruption Policy, you will still be able to pay

  • Utility bills
  • Employee wages and benefits
  • Payments on your property, whether a mortgage or rent
  • Taxes
  • Other regular business needs.

Even a short outage could cause you to lose customers forever. In the meantime, you will be dipping into savings or scrambling to pay the bills.

You want to protect your Matthews, NC business from any serious losses. If you think this kind of policy could benefit you, feel free to call JC Demo Insurance Group today to discuss your options.

3 Reasons Why Young People Need Life Insurance

Chances are, if you’re in your 20’s or 30’s, you’re not sure why you should buy life insurance. But purchasing this type of coverage while you’re young carries many benefits. In order to protect your young family and try your hand at investing, here’s why you should buy life insurance in Matthews, NC.

1. Pay Off Loans In Case Of Death

Since you’re still young, you may feel invincible. You’re not immune to death, however. Unfortunately, if you should die young, your debts will not die with you.

If you have student loans, for instance, they can’t be forgiven, even if your family demonstrates that you cannot pay them back. In the case of your passing, your next of kin would automatically adopt those debts.

If you purchase life insurance from JC Demo Insurance Group, though, you can opt for a policy that would pay your debts off.

2. Protect Your Business And Family

As the breadwinner of your family, what would happen if you suddenly passed away?

In an instant, your family would lose its main source of income. On top of lacking money to live off of, they would have to cover your burial expenses.

Buying life insurance while you’re young provides a financial cushion for your young family Not only would your funeral expenses be covered, but your family would get enough money to tide them over in the wake of your sudden death. They can have an income to tide them over as they get back up on their feet.

3. Life Insurance As An Investment

Have you ever thought of life insurance as an investment?

As a young policyholder, you can profit from this investment. Certain life policies can offer you payout’s even while you are alive. Those life policies can be used as a loan of sorts; you can borrow against them in order to pay off your other possessions, such as your home or car.

Building enough equity through your life policy to make it a viable investment requires you to hold the policy for many years. The younger you are when you purchase your policy, the better an investment it will be for you in the future.

Are you ready to future proof your life while you’re still young? Contact a friendly JC Demo Insurance Group agent to determine what policy works best for you. Purchase a life insurance policy in Matthews, NC today.

Three Insurance Mistakes That Put Your Business At Risk

Like most business owners, chances are you’re constantly looking for ways to cut unnecessary expenditures from your budget. But when it comes to your business insurance, cutting corners can be costly. Here are the top three costly insurance mistakes JC Demo Insurance Group has found many business owners make when it comes to their insurance coverage. 

Lack of Risk Management Strategies 

With proper risk management programs in place, you can lower your insurance premiums. Preventative strategies such as installing a central burglar alarm, using security cameras, updating older buildings, and using client contracts can reduce your Property, and General Liability premiums, and reduce E&O lawsuit risks.  

Paying For Unnecessary Insurance Policies 

Spending money on something your business doesn’t need is like putting cash in the trash. Every business is not alike and does not have the same insurance needs. When you work with an agent who is experienced with your type of business or industry, they already know the risks you face and can tailor your coverage accordingly. Smart business owners don’t pay for coverage they don’t need and maximize the coverage of insurance they may need for unforeseen events.  

Not Updating Your Insurance Plans 

Changes in your business, even small changes, can affect your insurance policy coverage and needs. If you don’t update your policies to reflect those changes, you could either be lacking in crucial coverage or be paying too much for coverage you no longer need. If you move to a new location, hire or fire employees, start offering new services, or invest in expensive new equipment or real estate, you will probably need to amend your policy to reflect those changes. In general, even if you think you haven’t made any significant business changes, you should have your insurance plans reviewed every six months to a year.  

Talk to your Matthews, NC business insurance experts today about the safety measures you can implement to protect your business and assets. At JC Demo Insurance Group, our agents can steer your business in the right direction and ensure you have the coverage you need. 

Top five trends in life insurance 2018

Often at times, planning for death may sound bizarre. The fact of the matter is, death is inevitable and it’s important that an individual plan for it. It is for this reason that one should consider getting a good life insurance policy.

With 2018 slowly coming to an end, there have been a number of key trends in the life insurance industry which will definitely affect both customers and insurance companies. Here are the top five trends that have had a vulnerability in 2018.

1. Use of cloud computing

Most millennial have kept off from getting a life insurance plan due to the hustle in getting all the required details. This process has been thought to exhausting and time-consuming. With the introduction of cloud computing, most information required will be easily accessed.

2. The internet advantage

Previously, most steps in getting an insurance cover required a physical meeting between the insurance agent and customer. The internet has however improved convenience since you are now able to purchase an insurance plan from the comfort of your home.

3. Automated underwritings

Introduction of automation tools in the insurance sector has improved customers satisfaction with insurance agents effectively interacting with customers and automatically tracking changes in their underwriting details.

4. Incorporation of the blockchain.

Integration of blockchain in the life insurance industry has led to the provision of a more transparent system for both insurance agents and clients. In addition, it has made the process more flexible and improved security with its audit-ability technique.

5. Multi-channel access

With the fact that most customer needs are digitally inclined, insurance companies have had to embrace the use of smart and seamless was in order that their customers can easily follow through their plans and get the opportunity to regularly update their details from anyplace.

At Matthews, NC, JC Demo Insurance Group, we offer a wide range of life insurance options to both new and existing customers. Call us or visit us today so that we can provide advice and solutions in regards to the 2018 life insurance trends which will be of great benefit to you.

Make Sure Commerical Insurance Covers Business Interruption

Property damage is an obvious risk from natural disasters like hurricanes. Less obvious is damage that can be caused by business interruption. Even if the commercial building for the business is not damaged, the lack of electricity for extended periods, after a natural disaster, can cause such a severe loss of business revenues that the business may fail unless it has adequate business interruption insurance.

The good people at JC Demo Insurance Group, serving Matthews, NC, and the surrounding area, know very well about the impact of hurricanes on the businesses in the state of North Carolina. They highly recommend that all businesses conduct a commercial insurance review to make sure they have adequate coverage. Business interruption insurance is an important part of their overall protection.

How does business interruption insurance work?

Business interruption insurance is meant to cover the expenses that continue during the period when a business is forced to stop operations. Some expenses are variable and can be paused while the business is not operating. Other expenses are fixed and continue if the business is operating or not.

Work with your insurance agent to separate the business expenses into those two categories to make a monthly estimate of those expenses that must be paid and cannot be stopped.

The next part of the estimate needed for adequate coverage is making an educated guess about how long a business will be forced to stop operating. Minor emergencies, such as street repairs that block customers from being able to enter the facility, are less challenging. Major natural disasters are able to stop a business from operating for many months.

It is bad enough when the area where your business is located suffers severe damage caused by a natural disaster. A wise business owner has business interruption insurance so they do not also lose their business in the aftermath. Contact your agent at JC Demo Insurance Group in Matthews, NC to get a quote.