Collecting Death Benefits from a Life Insurance Policy

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Thinking about the end of our lives may be difficult for all of us. However, if we want our family and loved ones to be provided for after we pass away, it’s essential to buy life insurance. If you live in the Matthews, NC, area and have questions about life insurance, our agents at Jim Boyce Insurance will gladly offer you a wide range of insurance options. We’ve been working with clients in your area since 1973.

The Process for Collecting Death Benefits

You may wonder how your beneficiaries will be able to collect death benefits from your life insurance policy. According to the North Carolina Department of Insurance, your insurance company must receive a copy of the policy, a completed claim form, and proof of your death. Acceptable proof of death is either a certified copy of a death certificate or a signed letter from the physician with details of the death.

If the insurance company doesn’t pay out the benefits within 30 days of receiving the necessary documents, interest will begin to build up on the amount of death benefits owed to the beneficiary. Once the claim is approved, the beneficiary may choose how the payout is administered. Some beneficiaries will take the payout in a lump sum, while others may request it be placed into an interest-bearing account, which they can access when they need funds.

Call Us Today for Your Appointment

There is more than one type of life insurance policy you may be interested in, and you may want more information before making a decision. Our agents at Jim Boyce Insurance can explain how each type of life insurance works and which might fit your needs. Potential clients in the Matthews, NC area can feel confident when placing their insurance needs in our hands. Call us for an appointment today to discuss your life insurance needs.

Insurance Add-Ons for Your Commercial Property

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Commercial insurance add-ons offer an additional layer of protection that can benefit business owners. This article reviews some standard add-ons that could provide the extra protection you need.

Extra Coverage That May Reduce Loss

Add-on coverage is designed to mitigate financial loss. It can also help business owners maintain relationships with customers, employees, and other key stakeholders necessary for business operations.

A standard insurance policy may cover the facility and property, but it might not provide adequate protection for some unforeseen situations.

Insurance Considerations for the Matthews, NC region

Consider the type of business you operate and the potential issues you may encounter during your ownership. An unexpected weather event or multiple crimes occurring at your business location may prompt you to increase the coverage for your land and commercial buildings.

Commercial Add-On Protection Types

  • Business interruption coverage
  • Cyber liability coverage
  • Theft and vandalism coverage
  • Liability coverage
  • Commercial fleet coverage
  • Storage unit and inventory coverage

An Assessment of Your Business Plan

Review your current business plan and compare it with the coverage provided by your commercial policy. Identify any gaps or unique circumstances that may require additional insurance coverage.

For instance, if you have invested in new decor or furnishings, you might be concerned about potential damage or theft of these items.

Acquiring add-on commercial insurance coverage can be beneficial for high-risk items. This coverage can protect commercial inventory, computers, furnishings, and more.

Ask An Agent at Jim Boyce Insurance

Contact one of our insurance agents serving the Matthews, NC region. An agent can discuss the commercial add-on protection that interests you and assist with upgrading your commercial insurance policy, if requested.

Home Insurance and Natural Disaster Coverage Gaps

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Homeowners around Matthews, NC often assume that their standard insurance policy will cover all types of natural disasters, but this is not always the case. Understanding the gaps in your coverage is essential to avoid financial surprises when disaster strikes. Natural disasters like floods, earthquakes, and hurricanes can cause significant damage, and many policies have limitations or exclusions for these events. Our insurance agency can offer greater insight.

Understanding Flood Damage Exclusion

One of the most common coverage gaps in home insurance is flood damage. Most standard home insurance policies do not cover damage caused by flooding, whether from heavy rain, storm surges, or overflowing rivers. To protect your home from flood-related risks, you may need to purchase separate flood insurance, which is often required in flood-prone areas. The National Flood Insurance Program (NFIP) offers coverage, but it’s important to assess your home’s risk and ensure you have adequate protection.

Earthquake Damage Coverage

Earthquake damage is another common exclusion in home insurance policies. If you live in an area prone to seismic activity, such as California or the Pacific Northwest, you will likely need to purchase additional earthquake insurance. Earthquake coverage typically protects your home from damage caused by ground shaking, including foundation cracks, structural damage, and even the collapse of the house.

Limitations of Hurricane Protection

Although most home insurance policies cover wind damage from hurricanes, they often have higher deductibles for hurricane-related claims. Additionally, water damage from storm surges is not covered unless you have flood insurance. In hurricane-prone areas, reviewing your policy’s wind and flood coverage is essential to ensure you are fully protected.

Contact Jim Boyce Insurance for More Information

Jim Boyce Insurance is here to provide the best explanations for answering your insurance questions as we serve Matthews, NC and surrounding cities. Call today.

Explaining Medical Payments Coverage in Auto Insurance

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Understanding Medical Payments Coverage in Auto Insurance

Medical Payments Coverage, often termed "MedPay," is an integral auto insurance feature that facilitates immediate financial relief for accident-related medical expenses for the driver and passengers in Matthews, NC. MedPay aids in overcoming potential financial distress without waiting for fault determination or sorting out other insurance complications.

What Does Medical Payments Coverage Include?

Medical payment coverage generally handles a variety of accident-related medical expenditures. This may encompass ambulance services, hospital visits, surgeries, X-rays, doctor appointments, referrals, and even rehabilitation services. It also tends to cover necessary dental treatments arising from an accident. Occasionally, it may extend to funeral costs in the unfortunate event of an accident leading to a fatality.

One primary advantage of MedPay is that it goes with the policy holder, meaning it can cover medical costs whether you’re the driver, a passenger in another car, or even when you’re struck by a car while walking.

How Does Medical Payment Coverage Work?

MedPay operates on a no-fault basis, implying it attends to your medical costs irrespective of who’s liable for the accident. Contrary to liability insurance which pays only for other parties’ injuries when you’re at fault, MedPay focuses on the policy holder and their passengers. It acts as supplemental protection, covering expenses that may surpass what your health insurance covers or managing deductibles and co-pays. Medical Payments Coverage provides immediate financial assistance, ensuring peace of mind.

Understanding Insurance with Jim Boyce Insurance

Jim Boyce Insurance offers comprehensive information related to insurance needs. Catering to areas in and around Matthews, NC. For more information, don’t hesitate to get in touch with us today.

What Factors Should You Consider When Buying Umbrella Insurance?

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When considering umbrella insurance, it’s essential to understand what it can do for you. At Jim Boyce Insurance, we provide insurance products to greater Matthews, NC residents. We’re here to guide you through the process. Let’s explore the key factors to keep in mind.

Understanding Your Needs

Umbrella insurance provides additional liability coverage beyond your regular home or auto insurance. Start by assessing your assets. Do you have significant savings, property, or investments? Umbrella insurance can protect these from potential lawsuits.

Evaluating Your Risk

Consider your lifestyle and activities. Do you entertain guests frequently, own a pool, or have young drivers in your household? These factors can increase your risk of liability claims. Umbrella insurance offers peace of mind by covering a wide range of scenarios.

Coverage Amount

Deciding on the right coverage amount is crucial. A typical starting point is $1 million, but you might need more depending on your assets and risk exposure. Analyze your total net worth and potential risks to determine the coverage that suits your situation.

Cost Considerations

Umbrella insurance is typically affordable, especially compared to the protection it offers. Premiums can vary based on the amount of coverage, your location, and your insurance provider. It is wise to get quotes from different companies to find a competitive rate.

Seamless Integration

Ensure that your umbrella policy integrates smoothly with your existing coverage. Coordinating with the same provider, like Jim Boyce Insurance, can simplify claims and improve service continuity.

Call Jim Boyce Insurance to Get an Umbrella Insurance Quote

Ready to protect your assets with an umbrella policy? Contact Jim Boyce Insurance, serving the greater Matthews, NC area, today, and let us help you find the perfect coverage to meet your needs.

Review Types of Protection for The Contents of Your New Rental

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Are you getting ready to move into a rental unit? If so, review the types of insurance that will protect your personal belongings from damage and theft.

Risk Level

Renters’ insurance prevents monetary loss if possessions are damaged or stolen. It also provides protection if an injury takes place within your rental unit. Assess your risk level. You may need additional protection if you live in a region where storms are prevalent.

Any items that will be stored outdoors could be at risk of being destroyed while you are renting the space. Your risk level will help you choose enough coverage for your personal possessions.

Contents

You do not need to insure all of your possessions. However, it would be best to consider insuring high-priced items that would be difficult to replace.

  • Artwork
  • Clothing
  • Furnishings
  • Heirlooms
  • Electronics

Insurance Products

Use the list above when categorizing your possessions. Compare various insurance products. You may want to purchase a liability policy and one that will protect you against theft, vandalism, and weather-related damage.

Add-Ons

Don’t forget to review insurance add-ons. Add-on coverage is specialized coverage. This type of coverage will provide protection for unique circumstances. You may benefit from purchasing one or more add-on insurance products for your personal possessions.

Review

Once you have selected the insurance coverage you need, review your chosen policy. You will be furnished with coverage amounts. You will also be provided with information that you can refer to if you ever need to file an insurance claim.

Contact Jim Boyce Insurance for more guidance.

Contact one of our agents serving Matthews, NC. An agent at Jim Boyce Insurance will assist with any renters’ insurance concerns you have.

Flood Rehabilitation – How Cleaning Processes Work

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The aftermath of a flood can often be shocking. Your property may be in disarray, with the looming threat of mold growth proving to be a significant concern. However, these temporary setbacks can be dealt with effectively through a comprehensive flood rehabilitation plan. It is beneficial to review the coverage provided by your flood insurance policy.

Get Started: The Initial Response

Before any cleanup begins, an insurance adjuster must inspect the damage. It is essential to report the flood through the appropriate channels. An insurance agent representing your insurance company will perform the preliminary steps necessary to rehabilitate your flooded property.

Important Cleaning Considerations

Once the insurance adjuster has documented the damage, your insurance claim will either be approved or denied. If your claim is approved, arrangements will be made to professionally dry and clean your belongings.

Certain cleaning tasks may be carried out on-site if the damage is minimal. It can be most efficient to clean items in their original location. The contractor managing the cleaning team will provide details about the cleaning methods they plan to use during rehabilitation.

Offsite Cleaning

The company you hire to restore your possessions may transport damage-infested items offsite for thorough cleaning. Items such as wet floor coverings, furnishings, and other large items may require extensive drying and cleaning, which may need to be carried out at a specified location.

Contaminants will be removed from damp surfaces throughout the drying and cleaning processes, and items will be dried and disinfected meticulously.

Contact us at Jim Boyce Insurance.

Get in touch with one of our agents serving Matthews, NC. The representative from Jim Boyce Insurance will organize a consultation with you to talk about flood insurance and the services included in your personal insurance policy.

RV Insurance: Does It Cover Everything Inside?

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Understanding RV Insurance Coverage Before Hitting The Highway

The open road is calling, and for RV owners, there’s nothing better than planning on heading out for an adventure and enjoyable experience. Planning ahead to make sure you and your investment are fully covered by insurance is essential in the event of an unexpected occurrence. Standard RV insurance usually covers the vehicle but not all the contents inside. Our professional team at Jim Boyce Insurance in Matthews, NC, recommends a line-by-line review of your current RV insurance policy.

Comprehensive Insurance Protection

  • Personal Property Insurance: Personal Property insurance protects what is inside your vehicle, such as clothing, electronics, and other personal items, in the event of theft, fire, and damage.
  • Umbrella Insurance Protection: Umbrella coverage offers special coverage for major accidents and legal claims.
  • Special Considerations: If you own valuable items like jewelry you want to protect, additional endorsements must be added to your regular policy.

Insurance Needed When Your RV Is Garaged

When your RV isn’t on the road and parked in a garage, it is still at risk of fire, natural disasters, and vandalism. You should consider removing the collision coverage and have comprehensive to ensure it is adequately protected.

Contact Jim Boyce Insurance Today

Ready to pack your RV and head out on a vacation this year? Our team of independent insurance agents is here to help you understand your coverage options and your insurance policy. Proper coverage is just a phone call away. Contact our team of insurance experts at Jim Boyce Insurance in Matthews, NC, to discuss the best coverage for you. We are here for your RV and all of your insurance needs.

The Protection You and Your Bike Need to Hit the Open Road

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North Carolina’s scenery and vibrant communities make places like Matthews a choice home for many. Experiencing these wonders on a motorcycle provides an unmatched sense of freedom. However, the joy of biking in this beautiful state comes with the responsibility of safety. The team at Jim Boyce Insurance is here to provide Matthews’ residents and the North Carolina area with insightful and practical motorcycle insurance solutions.

Prepare for the Open Road

Prior to embarking on your bicycle journey, helmet-up! Advocates and safe motorcyclists globally endorse this easy safety measure. Besides helmets, safety preparation encompasses using other tools, equipment, and techniques. From gloves and boots to defensive driving, safety measures largely contribute to your peace of mind on the road.

Pair these safety measures with the right motorcycle insurance to further your protection on the open road. Whether eliminating the financial worries related to bike repairs due to an accident or covering your medical bills, a fitting motorcycle insurance solution can make a difference.

Securing Motorcycle Insurance in Matthews, NC

If you need answers to insurance-related questions or are hunting for a customized motorcycle insurance solution in Matthews, NC, look no further. The friendly and professional team at Jim Boyce Insurance is ready to serve. Reach out, and we’ll ensure you ride with the peace of mind and safety you need. Secure your bike and hit the open road with confidence today.

Umbrella Insurance for At-Home Businesses: A Checklist

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Umbrella Insurance: A Must-Have for Matthews, NC Homeowners

At Jim Boyce Insurance, we understand the importance of having excellent home insurance coverage to safeguard homeowners in Matthews, NC. This includes the invaluable umbrella insurance that extends your liability protection. If you’ve previously faced liability-related issues, here’s what you need to know about this type of insurance and its extensive coverage.

Extended Liability Protection

The primary function of umbrella insurance is to boost your liability protection beyond the limits of your basic home insurance. For instance, if a visitor sues you for an amount exceeding your home insurance’s liability limit, your umbrella policy will come to your rescue.

Coverage Parameters

Many homeowners ask, "What exactly does umbrella insurance cover?" The policy can extend to events within your home and property and even unattached sections of the house. However, the coverage scope may vary across policies, so it’s important to understand your specifics thoroughly.

Identifying Your Payout Scope

Understanding where your payouts will be directed and how they can impact you is critical to establishing a policy. Discussing this with your insurance company is vital to ensure you’re getting the most from your policy.

Learning the Approval Process

Umbrella insurance approval can differ based on the kind of claim you’re making. Some policies activate automatically once your basic coverage limit is reached, while others require additional claim information. Ensure to discuss this thoroughly with your insurance agent.

Get Covered with Jim Boyce Insurance

Ready to secure an umbrella insurance policy for your home? Contact us at Jim Boyce Insurance today! Together, we can protect your home in Matthews, NC. Our team will guide you through this process, ensuring you get the protection you need and minimizing potential complications.