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Pethel Insurance Group

2622 Dale Earnhardt Blvd
Kannapolis, NC 28083

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Pethel Insurance Group Blog

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Commercial Insurance Covers More Than You Might Expect

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The Pethel Insurance Group serves business owners in Kannapolis, NC, and all of western North Carolina. Although most of our customers are aware that their commercial insurance covers their buildings and personal property, some find certain add-ons to commercial coverage highly desirable.

Basic Commercial Insurance Coverage

Your commercial policy covers your building. This can be a building you own or a net lease, a property you don’t own but are responsible for insuring. Any machinery that is permanently attached is considered part of your building.

Your commercial policy also covers your business property. This includes furniture and fixtures, movable equipment, inventory, upgrades you make to a space you rent, and leased equipment you have a responsibility to insure.

Where do you need an agent to ensure you get the right coverage? Your policy’s cause of loss page can be special, basic, or broad.

Why does this make a difference?

  • The particular cause of loss form means that every peril that can cause you damages is included unless it is specifically excluded.
  • Basic and broad cause of loss means that every peril that can cause you damages is excluded unless it is specifically included.

Your Pethel Insurance Group agent can verify the kind of coverage you have.

Two Kinds of Commercial Insurance You May Want to Add to Your Policy

Many of our customers in Kannapolis, NC, and beyond need business interruption insurance. This rider to your commercial policy pays your payroll, normal operating expenses, and even your expected net income while your business is non-operational (or losing money) due to a covered event.

It’s also possible to get coverage for equipment breakdowns. This rider offers coverage when, for instance, your boiler goes out, your elevator doesn’t work, electrical systems fail, or your manufacturing equipment is nonfunctional.

Don’t forget to ask your Pethel Insurance Agent about commercial insurance!

Pethel Insurance Group has the experience and expertise to help you make sure you have exactly the coverage you need. Call us today!

What First Time Homeowners Need to Know About Insurance

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Buying your first home is a momentous accomplishment. Your home will probably be one of your biggest investments in life, and you want to do everything you can to protect it. At Pethel Insurance Group, serving Kannapolis, NC, we want to help first-time homeowners get educated on insurance.

Required for Your Mortgage

If your new home will have a mortgage payment attached to it, it’s most likely required by the mortgage company that you carry homeowners insurance. This is to protect the money that the mortgage company has put on the line for the home. This way, if the house is damaged or destroyed, the insurance company can pay off the mortgage on the home. 

Protection for Your Financial Future

Most people think of homeowners insurance as a nuisance and just an extra expense, but this is a way of protecting your financial future. Even if you don’t have a mortgage on your home, having insurance in place is highly advisable. This is because if the house is damaged or destroyed and there isn’t insurance in place, you’d be personally responsible for paying for repairs or home replacement out of pocket. Most families could not handle this type of enormous expense unexpectedly. This can lead to homelessness. 

Getting sufficient insurance in place for your home is necessary for your housing security and your financial security.

Personalized 

Every home and family is different, so home insurance policies must be unique as well. The best way to figure out how much coverage you need is to talk with an insurance professional. They can evaluate the value of the home and belongings inside to determine a coverage amount.

If you’d like to learn more about home insurance, please contact Pethel Insurance Group, serving Kannapolis, NC, and the surrounding areas.

Loss Of Use Coverage for Renters

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Loss of use coverage provides protection when you are unable to occupy your rental unit. Review some situations that would benefit from this type of coverage. If you want to update your existing renters’ insurance policy, contact one of our agents representing the Pethel Insurance Group.

Flooding

If your rental unit becomes flooded, you cannot safely remain in it. A loss-of-use coverage plan will provide you with alternate accommodations while you are temporarily unable to stay in your home.

Burglary

If your rental is robbed, the severity of the incident could prevent you from living there. If criminal activity occurs that will take a while to investigate, you may be advised to seek a temporary living situation.

Renovations

An active renovation in your rental may require you to live somewhere else while the project is underway. Your loss of use coverage would pay for a hotel room or another type of dwelling where you will be staying for the time being.

Structural Damage

An unforeseen weather event could damage the structural materials of your rental. If your rental unit is deemed uninhabitable, you will need to seek an alternate living situation. Your insurance coverage may pay for the accommodations you need while the damage is being repaired.

Additional Guidance

Loss of use coverage can benefit you in many situations while actively renting your residence. Contact an agent who serves Kannapolis, NC. The agent will consult you about the loss of use coverage you need while renting your apartment or house.

What First-Time Riders Must Know About Motorcycle Insurance

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Motorcycle riding brings a unique sense of freedom and thrill, particularly to the residents of Kannapolis, NC. But if you are a novice, there are legal requirements you need to be aware of before hitting the road. One crucial requirement is motorcycle insurance, which varies significantly from your car insurance policy. The team at Pethel Insurance Group is ready to guide you on the mandatory insurance coverage for your newly acquired motorcycle.

Essential Coverage for First-Time Riders

At first glance, motorcycle and automobile insurance may seem similar, but the reality is quite different. Motorcycle insurance requires a standalone policy for legal compliance. While it may have similar categories like bodily and property liability for covering accidents, remember that the two policies function independently.

If your motorcycle is financed, the lender may likely require comprehensive and collision coverage on your policy. Comprehensive coverage pays for theft or damage that didn’t result from an accident, while collision coverage assists in repairing your bike if you collide with another vehicle or damage it while avoiding a potential accident. Depending on your policy, it might even replace your bike up to its limit, less the deductible.

Additional Coverage to Consider

Aside from the mandatory coverage, a savvy motorcycle rider may want to explore additional coverage for optimal protection. Medical payment coverage is wise, as it helps compensate for medical expenses if you and a passenger are injured in an accident. Furthermore, uninsured/underinsured coverage would cover damages to your motorcycle and medical bills if the at-fault driver does not have adequate insurance coverage.

Contact the Pethel Insurance Group, serving Kannapolis, NC, today to develop a tailored motorcycle insurance policy that fits your needs and guarantees your safe and legal rides.

Life Insurance for Your Kids

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We believe life insurance is appropriate for every child at the Pethel Insurance Group, serving Kannapolis, NC, and all of Cabarrus and Rowan counties. There is no more horrible experience for any parent than losing a child. Making sure you have enough life insurance can cover final expenses and give you the resources for taking some time off to mourn the loss of your child. And even if you raise your child to a happy and healthy adulthood, as most of our customers do, insuring your kids has some other advantages.

Buying Life Insurance Now Locks In Rates

When a child turns 21, the ownership of their life insurance policy transfers from the parents to the child. Coverage that starts when the insured is a child generally continues at the same monthly, quarterly, or annual rates when they are adults. These rates are locked in even if they develop medical conditions that make them hard to insure.

Whole Life Insurance Grows in Value

Buying a whole life policy for your child gives them a source of ready cash they can access through loans later on. Your child’s credit rating doesn’t limit these loans. 

Depending on the policy you choose, whole life can insure your child’s life until they turn 65 or even 100. There are whole-life policies that are paid in full after a stated number of years, available to be cashed out or paid on death, as needed.

High-Income Parents Can Use Whole Life to Transfer Money to Their Children Tax-Free

At Pethel Insurance Group, we can advise high-income parents on how to use whole life insurance to transfer wealth to their children while legally avoiding North Carolina and federal gift and income taxes. For wealthy families, this is a powerful incentive to maximize their investments in life insurance for their children.

Pethel Insurance Group is convenient to families in and around Kannapolis, NC. Call us to make an appointment to discuss all of your life insurance needs.

What to Do If You’re in a Car Accident

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If your car is in an accident, you’ll need to turn to your auto insurance to help cover the cost of repairs for damages to your vehicle. If you live in the Kannapolis, NC area, our professional team at Pethel Insurance Group invites you to contact us to discuss your auto insurance needs. We can provide a policy you can afford but that meets your car insurance needs. We want you to drive your car with the confidence that the right insurance is covering your vehicle.

What to Do After You Have a Car Accident 

If you have a car accident, it’s essential for you to know the right actions to take. First, move your car to a safe place where it won’t get further damage. Call the police, and let them know if there are any injuries. Ask the other driver for their driver’s license, and copy down their name and address.

In addition to that information, you’ll need their phone number and insurance information. If there are any witnesses, ask the witnesses to give you their names and phone numbers. Never agree to forget about calling the police or the insurance company since there could be hidden damage or injuries. Call your auto insurance policy and report the accident. 

Call for Your Insurance Quote Today 

Although we hope you won’t have a car accident, when you buy one of our policies, we’ll be there for you. Our experienced team serves the greater Kannapolis, NC area and we’d love an opportunity to show you why our clients express their satisfaction with our insurance. Today is the day to get the auto insurance you need. Call us today at the Pethel Insurance Group to discuss the right auto insurance for you. 

Commercial Insurance Coverage That A Restaurant Owner May Need

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Commercial insurance will provide coverage for your new restaurant. Learn how this type of insurance could benefit you as a new restaurant owner.

Commercial Insurance

The manner in which you operate your business will influence the type of insurance coverage that is needed. First, prepare a list of the restaurant equipment, commercial vehicles, and other assets that you own.

This list should indicate the value of each item that is used during normal business operations. Pethel Insurance Group serving Kannapolis, NC will go over the items on your list. We can make insurance recommendations that will benefit you as a business owner.

Amount Of Sales

The amount of sales that are projected to take place at your restaurant will influence how much coverage you need. The agent who assists you will need to be provided with information about the manner in which you plan to operate your business. You can provide this overview during a scheduled meeting with an insurance agent. 

Business Risks

An agent who represents Pethel Insurance Group will consider risks that could affect the amount of coverage your business needs. The location of your restaurant, for instance, will be taken into account.

If you operate your business in a region where theft or vandalism is likely to occur, the agent who serves you may recommend that you seek more coverage. All the risks that are identified will be discussed during your meeting with a Kannapolis, NC agent.

Consult With Us

The agents who represent Pethel Insurance Group are trained to educate business owners about the types of insurance products that are available. Feel free to contact an agent about any insurance coverage questions or concerns that you have.

Questions you should ask an insurance agent when shopping for home insurance

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Are you a lucky homeowner residing in Kannapolis, NC or any other town in the state of North Carolina? Searching for home insurance to protect your valuable investment but do not know where to begin? Here is a list of the most important questions you should ask an insurance agent when shopping for this type of insurance:

Do I Have To Purchase Home Insurance?

In North Carolina, home insurance is not mandatory. However, a mortgage lender may require homebuyers to get it first. You can decide for yourself whether you want to spend money on home insurance or not. Just keep in mind that it is very risky to own a home without insurance because you never know what might happen. 

What Is Typically Covered By Standard Home Insurance?

Usually, standard insurance will compensate homeowners if lightning, storm, vandalism, hail, or any other unpredictable and unfortunate situation causes damage to their home. A home insurance policy also usually covers the loss of personal belongings. 

Do I Need To Have Separate Coverage For Earthquakes And Floods?

Unfortunately, standard home insurance policies do not cover flooding and earthquakes. So, the answer is yes – you will have to get separate coverage for these situations. Analyze the area you live and decide whether earthquake and flood insurance is really necessary. 

Schedule A Consultation Today

Home insurance is not a luxury and is not a waste of money – it is the most efficient way to protect your home and personal belongings. If you are a lucky homeowner residing in the greater Kannapolis, NC region and you are looking for home insurance, Pethel Insurance Group is here to offer you help. At Pethel Insurance Group, we are ready to find a policy for that will satisfy your needs. All you need to do is to give us a call today to have protection tomorrow!

When am I required to get a renters insurance plan?

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Renting a home can be a good idea for a lot of people in North Carolina. When renting you will enjoy fewer responsibilities and risks and will have more flexibility when it comes to moving. If you would like to rent a home in the Kannapolis, NC area, you will want to get the right insurance. Renter’s insurance tends to be a requirement for many reasons when here. 

When Signing a Lease

A common situation when you will need renters insurance is when you are going to sign a lease. It is very common for a property owner to require a tenant to carry renter’s insurance. When a renter is covered, they will receive both liability coverage and personal property protection. This ensures they have support during an accident. If you do not have this coverage, it could invalidate your lease. 

When Looking to Maximize Protection

You also will need to get a renter’s insurance plan when you are trying to maximize your personal coverage. If you are going to rent a home, you will need to purchase various personal assets including kitchenware, electronics, and other important items. When you have renter’s coverage, you will get the support needed to replace or repair such items following a loss. You will also receive helpful liability support. With all necessary coverage, you will remain appropriately supported. 

Consult With Us

It is always helpful for people who are in the Kannapolis, NC area to get a renter’s insurance plan. If you are looking for a plan when you are here, you can call our team with the Pethel Insurance Group. When you call our team at the Pethel Insurance Group, you will get the help necessary to build your next policy. This will ensure you are appropriately covered at all times. 

Does Motorcycle Insurance Feature Hospitalization Coverage?

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If you ride a motorcycle, it’s essential to have the right coverage and understand the terms and conditions of your policy. If you need to acquire reliable motorcycle insurance protection, the experts at Pethel Insurance Group in Kannapolis, NC can help. 

Motorcycle Insurance Coverage

Motorcycle insurance works much like auto insurance but with different coverage, limitations, and options. If you were involved in a motorcycle accident with injuries and need emergency care or hospitalization, your motorcycle insurance will cover your medical bills. If you would like to learn more about motorcycle coverage, its terms and conditions, and options for coverage, our insurance agents can assist.

When you work with our team of agents, take the time to understand your needs and match you with high-quality insurance products that meet those needs. They’ll also educate each customer about the terms and conditions and explain the fine print to ensure you understand your purchase product. We also provide superior customer service before, during, and after the policy purchase. We can assist you with any changes you may have during the policy’s lifetime or help with claim submissions. It’s all a part of our commitment to exceptional customer service.

Find Out More Today

If you would like to learn more about motorcycle insurance or any other reliable Insurance options we offer customers, please feel free to contact us today. Call or stop by the office of Pethel Insurance Group, serving the greater Kannapolis, NC community, to schedule a consultation with one of our agents. We take pride in providing support and services to the residents in and around the area. Don’t take risks with motorcycle coverage. Get the advice and guidance you need to make a decision that provides protection and peace of mind.

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