What Is The Worker’s Compensation Law in North Carolina?

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Running your own business in and around Matthews, NC often means you must hire employees. Jim Boyce Insurance supports our local entrepreneurs. Which is why we want to educate new business owners about the state’s law about worker’s compensation, so you can feel confident that you meet the law’s requirements and understand if your business is exempt from carrying this type of insurance.

Who Is Required To Carry Worker’s Compensation Insurance In North Carolina?

Any business that employs three or more individuals is required to carry this type of insurance. This includes businesses run as sole proprietorship, limited liability companies, and corporations. Even if you call your employees "independent contractors" you may still be found responsible for such individuals as an employer. Such distinctions are ruled by the Industrial Commission. Subcontractors that do not have their own worker’s compensation insurance could also become your liability. 

Who Is Exempt From Carrying Worker’s Compensation Insurance?

Some exceptions to this law include casual employees, certain farm workers, or household servants. Some railroad employees and those who work for the federal government in the state of North Carolina can be excused from having to carry worker’s compensation. Additionally, the trucking industry has its own special insurance requirements different from what’s expected by other industries.

What Happens If I Fail To Carry Worker’s Compensation Insurance?

Depending on the severity of your failure to comply with this law, you may incur large fines, criminal misdemeanor or felony charges, and possibly face prison time. 

Understanding your insurance responsibilities as an employer can be a confusing process. If you’re a small business owner near Matthews, NC, let Jim Boyce Insurance answer your questions and make sure you have the right business insurance for worker’s comp and beyond!

Is It Covered?

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Whether it is home insurance, auto insurance, or renters insurance, knowing what your insurance policy covers is important. Be aware of the limits of your coverage so that you will not be caught off guard in Matthews, NC. 

What Is Typically Covered by Homeowners Insurance

While policies may differ, most homeowners policies cover damage to your home due to storms or fire. Most of the time, the personal property that is inside your home is covered too, so if your furnishings are ruined due to storm damage, your policy may pay toward their replacement. The same thing applies to burglary.  If your home is damaged by burglars, your policy will pay for the repairs, as well as replacing items that were stolen. Not only is your house and personal property covered by your homeowner’s policy, but structures on your property are also likely covered. So if a storm knocks trees onto your backyard fence, your policy may pay out toward repairing the fencing. Additionally, you are also covered for liability if someone is injured on your property. Therefore, if someone is hurt at your home, you are protected by your homeowner’s policy from a lawsuit. For specific coverage limits, you can read your insurance paperwork or contact your insurance agent.

What Is Not Typically Covered by Homeowners Insurance

Knowing what your policy does not cover is crucial as well. In some cases, you can buy additional insurance riders from Jim Boyce Insurance to help cover these problems that you may face in owning a home. Most of the time, things like sewage backups and the damage from them will not be covered by your homeowner’s policy. Most people do not realize it, but a basic homeowner’s policy does not pay out for damages due to floods, earthquakes, mudslides, or sinkholes. If you live in an area where these things may occur, you might want to look into buying additional insurance.

To discuss your insurance coverage and options for buying insurance riders in Matthews, NC, you can contact Jim Boyce Insurance today. 

Additional auto coverage available beyond basic

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In North Carolina, basic auto liability coverage is mandatory. Drivers are required to carry a minimum of $30,000 in bodily injury insurance per person with a total of $60,000 for everyone involved in an accident and an additional $25,000 for damage to property. While this coverage is adequate if you don’t have a lot of assets, it may be woefully inadequate if you are involved in a major collision. In Matthews, NC the knowledgeable staff at Jim Boyce Insurance can answer any questions that you may have about what coverage is best for you.

Additional liability

If you own a home or have assets, you may want to have a higher level of liability insurance to protect your current and future assets. 

Collision

If you have an auto loan or lease, collision insurance may be required by the lender or lessor. If you would have trouble repairing or replacing your auto on your own, collision coverage is something that you should consider. It will pay for repairs or replacement if your vehicle is damaged in an accident where you are at fault. 

Comprehensive

Comprehensive insurance is often referred to as non-collision coverage. Lots of things that can damage or totally destroy your car can happen without another vehicle being involved. Deer have a nasty habit of jumping into the road in front of cars. This can result in catastrophic damage. Glass coverage is one of the most used parts of comprehensive insurance, a wayward stone can cause a chip or a crack that can impair your ability to drive. These may not sound that terrifying but if you have to pay for the repair out of pocket because you don’t have insurance coverage, it can result in a financial crisis.

If you live in the Matthews, NC area why not stop by Jim Boyce Insurance for a no-obligation quote or to discuss the coverage options that might be right for you. 

  

 

Is Umbrella Insurance Just For The Wealthy?

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Do You Need Umbrella Insurance in Matthews, NC? Visit  Jim Boyce Insurance 

The truth is umbrella insurance is for everyone. There are many circumstances where umbrella insurance will be suitable protection. It really doesn’t matter if you are wealthy or not. The determining criteria for whether umbrella insurance fits your situation is very variable. Umbrella insurance may be a good idea depending on a laundry list of factors. Speaking with a professional insurance agent is the best idea to determine if your particular situation could benefit from this added protection.

Umbrella insurance is an extended arm on a standard insurance policy. Some situations leave a larger area of liability. Standard insurance policies only cover a certain amount. Individuals choose to have an umbrella insurance attachment when they want to add it a layer of protection. Once the standard level of insurance liability is reached, umbrella insurance will pay out for any amounts that exceed this level. 

Umbrella insurance can be an extension of a home insurance policy, commercial insurance policy or a personal insurance policy. Your agent will inform you if it’s permissible to add an umbrella policy as an attachment to any other insurance product.

Come in and speak with one of the dedicated agents at Jim Boyce Insurance today to decide if umbrella insurance should or could be a part of your financial future. 

The agency is located in Matthews, NC 28105.  Our agency takes the time to learn the ins and outs of all insurance products so that we can explain it to you in layman’s terms.  In addition to umbrella insurance, we have extensive product knowledge of the following insurance products: auto, home, business. life, classic car, renters, motorcycle, RV and flood insurance.  

Renters Insurance and Displacement Benefits: What You Need to Know

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There are many benefits associated with renters insurance that you may not be aware of. At Jim Boyce Insurance, serving Matthews, NC, we believe it is important that you understand the benefits of the insurance products you purchase. With that being said, one of the benefits of renters insurance that you may not be aware of is displacement benefits. Here is some key information you should know about renters insurance and displacement benefits. 

What Are Displacement Benefits? 

Displacement benefits help to pay your living costs above and beyond what you normally pay in rent in the event that the home you are renting becomes inhabitable during the course of your lease due to a covered event. Having to pay for a few nights at a hotel or renting out a short term rental can be pricey. Your renter’s insurance policy helps to cover these extra costs, so an unexpected event does not financially impact you. 

When Might Displacement Benefits Be Needed? 

There are many reasons why displacement benefits may be needed. If the home you are renting catches fire and has severe damage, you may need somewhere to live while repairs are being made or you search for a new rental. The same is true if a pipe bursts in the home and causes a large amount of damage. Some policies may also provide displacement services if mold is found in the home, allowing you to stay out until it is safely removed. 

No one plans on something catastrophic happening to the place that they are renting. Having renters insurance can help you in case the unexpected becomes a reality. If you are a renter who does not have renters insurance in the greater Matthews, NC area, now may be the time to start thinking about purchasing a policy. Contact Jim Boyce Insurance today for a free estimate. 

How flood insurance in North Carolina can protect you.

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When you buy a home you know that you are making a major purchase and investment. Along with this, you need to make sure that you are doing everything that you can to protect your asset. One of the best ways to do this today is by getting a flood insurance policy. A flood insurance policy can protect you a number of different ways. 

Protect Your Home

The main way that flood insurance in North Carolina can protect you is by protecting your investment in your home. Due to the proximity to the ocean, many people in North Carolina are in flood zones that have a higher chance of being impacted by major storms. If your home is damaged by a flood, the impact could be catastrophic. The flood insurance policy will give you the protection that you need to either repair or completely replace your home if it is damaged by a flood.

Ensures Compliance

Having flood insurance can also protect you by ensuring that you are in compliance with all regulations. When you purchase a home there is a good chance that you took out a mortgage. If the mortgage was insured by the FHA, the lender will undoubtedly require that you have flood insurance if you live in a flood zone. When you have this insurance in place, you can stay in compliance with your policy. 

When you are looking for flood insurance in the Charlotte, NC area, you should speak with the team at the Jim Boyce Insurance agency. The professionals at Jim Boyce Insurance will be able to provide you with the support that you need to pick a quality flood insurance policy. This will help to ensure that your Charlotte, NC area home is properly covered and protected. 

Is Charlotte, NC The Recreational Vehicle Capitol of America?

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I See A Lot Of RV’s Around Here

With all, there is to do in our beautiful corner of the country RVing is a popular pastime. Getting out on the open road and enjoying various campsites and landmarks  Falls dead center into what we call fun. You may decide to take a recreational vehicle across the country. No need for a hotel or motel when you have your personal accommodations traveling along with you. No matter how you’d like to enjoy your RV it is made just for that purpose. Getting out there and seeing it for yourself. Though you may see a lot of recreational vehicles around Charlotte we are not the recreational RV capital of the country. Believe it or not, the region of the country that can boast the highest RV ownership is out west.  Next in ranking order is the midwest and then the south after that comes the northeast. That can be attributed to the weather, a strange coincidence or just a regional state of mind that fixes on camping.

 Insuring your RV is a simple process as long as you know how you want your vehicle to function. Do you plan on renting the vehicle or driving cross country or driving internationally? Come into your insurance office with that information. 

At Jim Boyce Insurance we promise to make you feel good about your decision to purchase insurance for your recreational vehicle.  We have been serving Charlotte, NC since 1973, so we know the area and we know the needs of the residents. With more than 75 years of experience, we can help you insure your automobile, home, business, life, classic car,  and motorcycle. We also underwrite flood insurance products. Stop by today, we’ll see you soon.

3 Reasons You Need Motorcyle Insurance Today

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As fun as they can be dangerous, motorcycles are unique vehicles with unique insurance coverage needs. For residents of Charlotte, NC, the following is an overview of 3 reasons you need to purchase motorcycle insurance today. 

Affordable and Flexible

One of the top reasons you need motorcycle insurance is that it is affordable and flexible. Unlike other types of insurance, you have a lot more options with regard to limits, deductibles, discounts, etc.  Purchasing a motorcycle insurance policy will likely be a much easier process than other more common types of coverage.

Liability Coverage

No matter how skilled of a driver you are, accidents still happen. In the event that the accident is caused by you, you will certainly want to make sure you are properly covered. Otherwise, you could be on the hook for property damages, costly medical bills, and much more.

Protect Against Other Damages

Moreover, there are plenty of ways in which your motorcycle could become damaged outside of an accident. For instance, your bike could be vandalized, it could catch on fire, be stolen, and more. By purchasing a motorcycle insurance policy, you will make sure your bike is covered even if it becomes damaged in other ways.

Overall, for residents of Charlotte, NC Jim Boyce Insurance is a great option for securing motorcycle coverage. Simply call, email them, or visit the office today to find out how you can start your policy at once and save. There is no need to worry about your motorcycle coverage any longer. Contact  Jim Boyce Insurance to start your policy on your terms and as soon as possible. 

Why the Additional Coverage of Umbrella Insurance is Smart

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You may have heard the term umbrella insurance but felt adequately protected with your current home and auto coverage.  So, you may be surprised when you agent at Jim Boyce Insurance suggested that you consider the additional protection that umbrella insurance provides.  Your existing home and auto liability coverage protects in the event of an accident where you are found to be at fault.  Umbrella insurance, as a secondary liability policy, significantly extends that coverage with a minimal investment.  In the Charlotte, NC area, the agents can show you in detail how this type of policy works for you. 

When you most need the help, an umbrella policy provides extended coverage to protect your assets.  In an accident situation, either a car wreck or on your property, where you are found to be at fault, you will be responsible for the repairs and medical expenses of the other party.   Should they decide to sue, you could also be held responsible for their legal fees, as well as your own.  Between vehicle repair, medical care and rehab, legal fees and potentially an award for damages, it’s easy to see that the liability policy allowances can quickly be exhausted.  When that happens, you’re responsible for the additional expenses. 

An umbrella policy changes this situation.  For instance, say your home policy has a liability coverage limit of $350,000.  If someone is injured and you are responsible, your home insurance policy will go into effect.  When the policy’s limits are reached, the umbrella policy will kick in with additional coverage to protect you.  They also can have clauses that provide for libel or slander cases.

The team at Jim Boyce Insurance in the Charlotte, NC area are ready to help you get the coverage you need.  Give them a call and visit them today.

I Just Rented My First Apartment – What Do I Need to Discuss During My Insurance Consultation?

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Hey, fellow North Carolinians we’re here for you.  Jim Boyce Insurance in Charlotte, NC encourages all renters to acquire renters insurance as soon as possible. Whether you decide to purchase the insurance before you sign the lease or after making it one of the first decisions you make as an apartment renter. 

When you consult with an insurance agent be ready to discuss:

  • the location of your apartment 
  • If you will be living with another person (such as a roommate, co-tenant or even a family member) – the agent would be interested in knowing that information
  • a comprehensive and accurate listing of the personal property that you would like protected

The personal property that you would like protected is an essential part of your initial consultation. If you have items of great value you may want to take out additional insurance specifically for those items the insurance agent will also be interested to know if you have any type of security measures at your apartment.

  • Is there a secure place as part of your rental agreement or is there a security guard present on the property? Is there a place to keep your valuables with the new apartment? These are some items that your insurance agent will be curious to know in order to best serve and protect your assets. 

Located in Charlotte, NC, Jim Boyce Insurance specializes in various types of insurance. Among these are auto, flood, umbrella, life, home, motorcycle, business, recreational vehicle and classic car insurances. Stop by our office today or call us to discuss how we can make your experience as an apartment renter the very best it can be.