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2622 Dale Earnhardt Blvd
Kannapolis, NC 28083

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Life insurance FAQs

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At Pethel Insurance Group in Kannapolis, NC, we are independent insurance agents who have been helping our customers to find the right coverage for more than 15 years. We are family-owned, and we will work hard for you to get the right policy at a price you can live with. Life insurance is not a type of insurance where everyone’s needs are the same. Your needs are personal and getting to know you is part of the process. 

Is term life insurance right for me?

Term life insurance offers coverage for a certain number of years. What you are paying for is a death benefit. If you are alive at the end of the term, the insurance ends and there is no longer a benefit. It is the perfect type of insurance when you require a large amount of coverage for a certain number of years. It is affordable and provides peace of mind that your dependents will be taken care of in the event you die. 

Do I need life insurance if I get some from work? 

Do you know exactly how much life insurance your employer provides? Is it enough to provide for your dependents in the event you pass away? Can you keep the policy if your employment is terminated either by you or your employer? Having your own life insurance is always a good idea. Consider employer-provided insurance a nice supplement to the coverage you already have. 

When should I review my life insurance coverage? 

Life is not static, it changes over the years and, like so many things, you need to take a good look at your coverage when any of these events happen:

  • When you change jobs
  • When you buy a home
  • When you get married
  • When you have children
  • When you retire

Contact Pethel Insurance Group in Kannapolis, NC to discuss your life insurance coverage. 

The Basics of Auto Insurance Deductibles

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If you’ve never had auto insurance or are new to it, you might not know about deductibles. This is a crucial element that you should learn about before you will end up needing to do anything with it. You can discuss this with an agent from Pethel Insurance Group of the Kannapolis, NC area if you have some specific questions. 

What Is an Auto Insurance Deductible? 

A deductible is what a driver will have to pay out of pocket for any repairs before they can tap into the insurance. They only apply when it comes to comprehensive and collision claims. The premium typically will be lower when the deductible is higher. This means that you’ll pay less for your insurance in general. 

Insurance companies will sometimes offer diminishing deductibles on someone’s auto insurance policy. This is also known by the terms "disappearing" or "vanishing" deductible. It is additional coverage that serves as a reward for safe drivers. Drivers who don’t get into automobile accidents and continue to have a clean driving record end up with a decreased deductible amount as a type of reward. 

Can You Choose Your Deductible? 

Yes, in many cases, you will be able to choose if you have a low or high deductible. Auto insurance deductibles are different from health insurance because there aren’t any annual deductibles that you have to meet. However, you are responsible for the stated deductible in your insurance policy each time you file a claim. Once you pay this amount, your insurance company will pay out the rest of the cost to replace or repair your vehicle. 

The process of getting and maintaining your auto insurance is made easier when you work with a trustworthy agent such as those at Pethel Insurance Group of the greater Kannapolis, NC area. Contact us today to get more information on deductibles and other aspects of auto insurance.

How commercial insurances saves small businesses

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Owning a small business is challenging. Risks are around every corner and it may seem at times as if the world is out to get you and put you out of business.  20% of small businesses fail in their first year and by year 5 it is 50%. The odds really are against you, but having the right commercial insurance can certainly help mitigate some of the risks of doing business. In Kannapolis, NC,  Pethel Insurance Group is an independent insurance agency that can help customize a commercial policy to your business. 

Commercial property insurance

Property coverage in the commercial sense covers the building where you do business. But more than that, in the event you are a renter, it covers all your business machinery, tools, and equipment. If you use it to do business, you are covered. It can be your office equipment, inventory, raw materials, tools, etc. The coverage is tailored to the type of business that you do. If a peril strikes, you will be able to get back to business as usual quicker. 

Commercial liability insurance

Small businesses are very susceptible to being sued. Every year, 36-53% of small businesses have to deal with a lawsuit. A lawsuit if you don’t have commercial liability insurance, can be devastating and it could mean your business will not survive. Between customers, vendors, and disgruntled employees, there is an almost endless supply of possibilities. 

Commercial auto insurance

If your business owns a vehicle,  it should be covered by commercial auto insurance. It is wise to keep your business and personal finances separate. 

Business interruption insurance

When a covered hazard hits your business, you won’t have any money coming in. Business interruption insurance will provide the money you need to pay your bills and meet your payroll. It can definitely save your business. 

Contact Pethel Insurance Group in Kannapolis, NC to discuss your commercial insurance needs. 

Things that home insurance won’t cover

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Home insurance is designed to protect your home from many different hazards. But like most insurance, it has exceptions, things that it won’t cover. Some of them may surprise you if you haven’t read your home insurance policy. In Kannapolis, NC, Pethel Insurance Group is your local independent insurance agent. Independent insurance agents are not like captive agents, they can offer you more than one insurance carrier, which means you have more choices and a better chance of getting the perfect fit. 

Earth movement

When the earth moves and damage results, the damage will not be covered. This includes earthquakes, sinkholes, and landslides. You can buy an endorsement to cover this type of damage if you are concerned it might happen to you. 

Flood

Floods cause a lot of damage and flooding can lead to mold and other problems if the water sits and the weather is warm.  Floods and mudflow are not covered by traditional home insurance. You can purchase dedicated flood insurance as long as you are in a community that participates in the National Flood Management Program. 

Water damage

Water damage can happen from other things besides flooding. If you have a sump pump and it backs up or you have a sewer backup into your home, it won’t be covered by your home insurance. 

Owner neglect

Your insurance company expects you to maintain your home. If there is a danger of your house is infested with termites or other bugs, it is up to you to get your home treated and to maintain the treatment. If things just wear out, like your roof or your furnace, they are not covered by home insurance. If a tree dies and then falls on your home, you could be out of luck. 

Contact Pethel Insurance Group in Kannapolis, NC when you need to update your home insurance. 

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