Should I Get Full Coverage Auto Insurance for a New Vehicle?

Posted on March 28, 2025March 25, 2025 by admin

When you have a brand-new vehicle, you know how important it is to keep your vehicle looking beautiful and functioning well. One way to keep your vehicle looking and functioning its best is to get the right level of auto insurance.

The right level of auto insurance gives you the resources to repair your vehicle when it is damaged. The professionals at Allen Insurance Agency, serving Ramseur, NC, can help you decide which level of auto insurance is best for your vehicle. Here’s what you need to know.

Understanding Full Coverage Auto Insurance

Full coverage auto insurance provides maximum damage coverage. Full coverage auto insurance is a range of insurance types, including:

Liability insurance, which provides protection for the other driver and their car if you cause an accident
Comprehensive insurance, which provides coverage for a range of non-collision events
Collision insurance, which provides coverage for your vehicle if you are involved in a collision

In other words, if you have full coverage auto insurance, your new vehicle is covered in many ways. If your vehicle sustains damage for a covered event, you’ll have a policy to help it get repaired.

Do I Need Full Coverage Auto Insurance for a New Vehicle?

You are not required to get full coverage auto insurance for a new vehicle unless you have a car loan. Your lender will likely require this level of insurance for you to be approved for your loan. However, many people choose to get this level of insurance for a new vehicle because they want resources to keep their vehicle in good condition.

How Can I Get Full Coverage Auto Insurance?

To get full coverage auto insurance, contact Allen Insurance Agency, serving Ramseur, NC. We can help you find a policy that meets your needs.

Should My Small Business Have Commercial Insurance and Commercial Vehicle Insurance?

Posted on February 28, 2025February 24, 2025 by admin

Commercial insurance is a crucial component for small businesses to meet their legal and contractual obligations and manage their risks. However, small business owners sometimes unknowingly take risks when they rely on their personal auto insurance to cover their business vehicle use. To avoid this potentially costly mistake, let the Allen Insurance Agency team, serving the Ramseur, NC market, create a tailored commercial and commercial vehicle insurance plan for your business.

Understanding Commercial and Commercial Vehicle Insurance

Small businesses in North Carolina come in all shapes and sizes, and their commercial insurance needs vary based on their industry, legal entity, number of employees, and how they use motor vehicles in their business. Nearly every small business uses motor vehicles to conduct business, and that vehicle use should be covered by commercial vehicle insurance.

While small business owners often acquire property, liability, and workers’ compensation coverage, some fail to acquire commercial vehicle insurance, assuming their personal auto policy offers the necessary protection. However, only commercial vehicle policies properly cover vehicles:

That is leased or owned by the business
Used by you or an employee for business purposes, such as taking a client or employee to lunch or a business meeting
That transport tools or deliver products to clients or work locations

Personal vehicle insurance generally has lower liability limits than commercial vehicle policies.

If any of the factors mentioned above apply to your vehicle use, talk to your agent to ensure you adequately protect yourself and your business while avoiding unnecessary risks.

Working with the Allen Insurance Agency

The Allen Insurance Agency proudly serves the Ramseur, NC, and surrounding business communities. Our commercial insurance experience can help guide your commercial insurance planning. Stop in today or call us at (336) 824-4130 to schedule an appointment.

Does Home Insurance Cover the Sewer Line?

Posted on January 31, 2025January 27, 2025 by admin

Homeownership in Ramseur, NC, is idyllic, with properties surrounded by rolling hills and scenic views of the distant Blue Ridge Mountains. Part of life here is having home insurance to help cover you when things go wrong. But at Allen Insurance Agency serving Ramseur, NC, we’ve noticed that many homeowners don’t often think about an important aspect of their homes, which is understandable because it operates sight unseen.

What is a Sewer Line?

We’re talking about the sewer line. This underground pipe is a vital component of a home’s plumbing system. It carries wastewater from the house to the municipal sewer system or a private septic tank. The sewer line connects to your home’s plumbing fixtures, such as sinks, toilets, showers, and appliances like dishwashers or washing machines, ensuring that all waste and gray water are safely transported away from your property.

Vulnerability of Sewer Lines

Sewer lines are typically made of durable materials like PVC, cast iron, or clay, designed to withstand the pressure of wastewater and the weight of the soil above them. However, they can become vulnerable to issues such as blockages, cracks, or collapses caused by aging, tree root intrusion, and ground shifting over time. All properties are vulnerable to these issues, not just the ones in Ramseur, NC.

Sewer Lines Not Usually Covered

Problems with the line can lead to serious issues like sewage backups, slow drains, or unpleasant odors. In severe cases, a damaged sewer line can cause flooding in the yard or inside the home, potentially resulting in costly repairs and health hazards. Home insurance may not cover this without adding this specific coverage to the policy.

To ensure your home is covered for the eventuality of a sewer line problem, contact Allen Insurance Agency in Ramseur, NC, today.

Self-Insured Drivers: Is It a Viable Option for High-Net-Worth Individuals?

Posted on December 23, 2024December 22, 2024 by admin

For high-net-worth individuals (HNWIs) in and around Ramseur, NC, traditional auto insurance may not always be the most appealing or cost-effective option. The concept of self-insuring, which involves opting out of traditional insurance policies in favor of setting aside funds to cover potential damages or liability, is becoming an increasingly viable alternative. However, this approach requires careful consideration, especially in terms of the potential risks involved.

Exploring the Concept of Self-Insurance

Self-insurance involves setting aside a designated fund to cover potential losses. HNWIs often have the financial capacity to assume the risk of paying for damages out of pocket, especially if they own valuable, low-risk vehicles or have an excellent safety record. This model can save money on premiums and administrative costs but also exposes the individual to significant financial risk in the event of a major accident or liability claim.

Assessing the Viability of Self-Insurance for High-Net-Worth Individuals

Self-insurance can be an attractive option due to the potential for reduced insurance costs and more control over risk management. However, having a well-funded reserve is crucial to cover significant liabilities such as medical costs, vehicle repairs, or legal expenses. Additionally, self-insured drivers must ensure they comply with local laws, which often require certain levels of liability coverage, especially in accidents involving others.

Understanding the Risks and Considerations

The main challenge with self-insurance is the unpredictable nature of accidents. A major incident, such as an accident causing injury to others or extensive property damage, could lead to significant financial strain. It’s always advisable to explore options with a financial advisor or insurance agent for protection.

Allen Insurance Agency: Tailored Insurance Policies for Your Needs

Allen Insurance Agency underwrites policies to meet customers’ needs. We serve Ramseur, NC, and the surrounding cities. Contact us today.

How commercial insurance can save your small business?

Posted on November 25, 2024November 23, 2024 by admin

The overall failure rate for small businesses is relatively high. The potential is excellent, but the risks are many. Being aware of potential pitfalls can help you mitigate them to some extent. That is where commercial insurance comes in. At Allen Insurance Agency in Ramseur, NC, we work with our small business clients to help them get the right commercial insurance to protect their small businesses.

Commercial liability coverage

Being sued is arguably the most significant risk that every small business faces. One in three businesses is sued every year. Commercial liability coverage will protect you from customers, vendors, or even a disgruntled employee who sues you. Not only does it cover a judgment, but it also helps with legal costs. It can be costly to defend yourself.

Business interruption insurance

Things happen. If one of the things that happens makes it impossible for you to do business, your expenses will not go away. With business interruption insurance, you will be able to pay your bills and make payroll for your employees and yourself until you can reopen your doors.

Commercial property insurance

Commercial property insurance covers not only the physical building but also its contents—all the things you need to do business. Having the right insurance can replace these things and get you back in business as quickly as possible.

Commercial flood insurance

Over 70% of small businesses are unprepared for a natural disaster. Floods are America’s number 1 natural disaster. Typical business property insurance won’t cover flood damage, which can cost you your business.

Give our office at Allen Insurance Agency in Ramseur, NC, a call to discuss the risks facing your small business and how we can help you protect yourself.

What is additional living expense coverage on my homeowner policy?

Posted on October 28, 2024October 23, 2024 by admin

When it comes to a home insurance policy, many consumers seek the benefit of having their homes repaired or rebuilt in case of a covered peril. They are also concerned with repairing their fences, sheds, walls, barns, and other structures on their land.

Moreover, homeowners are often overwhelmed by the thought of losing their personal property in a fire, storm, or other covered peril. You all have items that have great sentimental value, not to mention your furniture, TVs, appliances, clothes, and other personal items you may have. However, at Allen Insurance Agency in Ramseur, NC, we find that one of the most underrated coverages available on a home insurance policy is the additional living expense coverage.

What is Additional Living Expense Coverage?

Additional living expense coverage (ALE) on your home insurance policy is a benefit that reimburses you for extra money spent to find lodging while your home is being restored. This great coverage provides financial support and convenience, allowing you to focus on getting your life back to normal. You can get reimbursed for hotel stays, temporary apartment rentals, and other short-term lodging circumstances you must pay for while displaced from your home.

Additional living expense coverage also covers the cost of meals for you and your family if you are displaced from your home after a covered peril and cannot use a kitchen to prepare meals.

Moreover, ALE coverage will cover the cost of excess mileage you are required to drive to and from your place of employment while away from your home while it is repaired.

Lastly, ALE has limits that equal a percentage of your home insurance amount. For instance, if you have $300,000 worth of insurance on your home, and your ALE will pay up to 10% of the amount of insurance you have, it would pay up to $30,000 toward your additional living costs. Rates and percentages vary by company.

Questions? We are here to help.

If you have any questions about your home insurance policy or want more information about your additional living expense coverage, call Allen Insurance Agency in Ramseur, NC, at (336) 824-4130 today.

The Importance of Uninsured Motorist Coverage

Posted on September 30, 2024September 28, 2024 by admin

At Allen Insurance Agency in Ramseur, NC, we understand that when consumers seek the proper auto insurance coverage for their vehicle(s), many try to stick with the minimum coverage that the law or their finance companies allow. They are looking for the cheapest options to be legal on the roadways. However, an affordable yet much-needed option for drivers is to include uninsured motorist coverage in their auto policies. This coverage is not only essential but also a practical and cost-effective choice.

What is Uninsured Motorist and Why is it so important?

Uninsured motorist (UM) coverage offers added protection to you and your loved ones when you are in an accident with a driver who is operating on the roadways without insurance coverage. Uninsured Motorist coverage also applies to instances when there has been a hit and run, and you are unable to locate the party who damaged your auto and caused injuries to you and your loved ones. This coverage provides a sense of security and peace of mind, especially with the rise of drivers on the roadways without insurance coverage.

Types of Uninsured Motorist Coverage

Most auto insurance companies offer UM coverage for bodily injuries (UMBI) and property damage (UMPD). With UMBI, if you are involved in a hit and run or had an accident and the guilty party who hit you doesn’t have insurance, you can have medical coverage to take care of your injuries and those of any of your passengers, up to your coverage limits. Usually, the limits for bodily injury on your insurance policy mirror those of your liability bodily injury coverages, but never to exceed it.

For instance, you could have UMBI limits of 25/50, meaning an uninsured motorist bodily injury claim will cover $25,000 per person or up to $50,000 total for injuries incurred to you or any passengers during this single accident.

The same conditions apply to uninsured motorist property damage. However, UMPD is concerned about the repair of your vehicle. Typically, you pay a deductible toward the repairs. For example, if you come out of the grocery store and your car has been damaged. The guilty party cannot be identified. So, you can have your vehicle repaired up to the coverage limits minus the deductible.

Contact Allen Insurance Agency today!

At Allen Insurance Agency in Ramseur, NC, we understand that your priority is protecting your family. Call us today at (336) 489-4415 with any questions or concerns about uninsured motorist coverage. We want clarity and peace of mind when protecting your family on the roadway.

Commercial Insurance is Every Business Owner’s Safety Net

Posted on August 30, 2024August 27, 2024 by admin

Every business owner aspires to success, and every successful company plans for it. From small-scale firms to large corporations, each business carries inherent risks, and success inevitably brings greater concerns. That’s why successful businesses and companies in and around the Ramseur, NC, area rely on the friendly and professional staff at the Allen Insurance Agency for all their commercial insurance needs.

The path to success often presents many pitfalls, potential hazards, and its fair share of construction and warning signs. Commercial insurance helps businesses maneuver these obstacles and protect them from risks on the journey to success.

Every Business Owner’s Safety Net: Commercial Insurance

Whether you’re a large and established company or a successful small-scale business, being a business owner can sometimes feel like a balancing act on a tightrope. Fortunately, for those situations that disrupt your equilibrium or threaten your business, commercial insurance often provides the solution – and the much-needed safety net every business owner requires.

Indeed, companies could intentionally downscale their volumes, shorten their operating hours, limit their services, and take many other strategies to undermine their own success to appear as less appealing targets for potential criminals. Alternatively, they could opt for commercial insurance solutions. Planning for success includes preparing for potential risks along the way, and commercial insurance can provide assistance.

Commercial Insurance Solutions in Ramseur, NC

If you are a business owner in or around Ramseur, NC, and have queries about or need commercial insurance, don’t look beyond the Allen Insurance Agency. Contact us to learn more and schedule an appointment to engage with our friendly, experienced, and professional team about all your commercial insurance needs today.

Four Questions to Ask When Shopping for Home Insurance

Posted on July 30, 2024July 29, 2024 by admin

Buying a home insurance policy can be a complex process. It involves asking the right questions to ensure the policy you’re considering aligns with your needs.

At Allen Insurance Agency, servicing Ramseur, NC, we assist homeowners in seeking the most suitable home insurance policy. Below are four questions you should ask when shopping for home insurance.

1. How much coverage do I need?

It is vital to opt for a home insurance policy that offers just the right amount of coverage. Over-insuring your home means you’ll pay more for your premium. Under-insuring means you might face difficulties repairing or rebuilding your house after a covered event.

2. What is the cost?

Home insurance is usually paid in one lump sum per year. Knowing the cost of your insurance policy is a critical part of budgeting.

3. What’s covered under this policy?

While there are standard items across home insurance policies, there is variation from one insurance product to another. Knowing what’s covered by the policy you’re considering is essential to the process.

4. Should I get flood or umbrella insurance?

Standard home insurance policies do not cover floods. Accordingly, if you live in a high-risk area for floods, having this type of insurance can offer you financial protection. Umbrella insurance can extend your coverage beyond your home insurance policy. An umbrella policy can offer additional protection if your home insurance policy doesn’t offer sufficient coverage in a certain area.

Do you need home insurance? Contact Allen Insurance Agency, servicing Ramseur, NC. We’ll help answer your questions and guide you to the right insurance policy.

Should I Change My Auto Insurance After Paying Off My Vehicle?

Posted on June 28, 2024June 28, 2024 by admin

It is common to use a bank loan to finance a car purchase in Ramseur, NC. Have you ever wondered what happens once the loan is fully repaid? At Allen Insurance Agency, we often receive this question, so we’ll provide you with a detailed response here.

Updating Your Insurance

The lender will likely impose certain coverage prerequisites if you’ve bought a vehicle with a loan. Until the loan is fully repaid, the bank holds certain entitlements. In the event of vehicle damage resulting in an insurance payout, the bank is usually the first recipient to satisfy the remaining loan balance. Any funds left over would then belong to you.

It’s vital to remember to inform your insurance company once you’ve paid off your loan. They need to be aware that the bank no longer holds an interest in the vehicle, so any future claim payouts are directed to you.

Choosing the Coverage You Want

Furthermore, the insurance guidelines decreed by the bank may not perfectly align with your needs as a vehicle owner. When buying a new vehicle, the bank requires a coverage level that guarantees loan payment.

However, when most vehicle loans are paid in full, the vehicle has often depreciated, and it can be more advantageous to reduce your overall coverage levels.

That’s not to say there are no strict rules. Provided the insurance company knows you don’t owe the bank any money, you can opt for the coverage that you feel suits you best.

For ideal coverage in Ramseur, NC, it’s advisable to consult with your insurance representative. Feel free to contact the Allen Insurance Agency to explore your options and find the perfect policy for your needs.

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