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My Motorcycle is Stored: Do I Need Insurance Coverage?

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You might wonder if you are required to have motorcycle insurance if it is stored in a garage or warehouse. The answer is, "yes." The North Carolina motor vehicle law requires all motorcycle operators to purchase insurance, whether you are actively riding it or storing it. It doesn’t seem right to have to carry coverage if you aren’t riding it, but the expert team at Pethel Insurance Group, serving Kannapolis, NC, wants you to protect your investment. If you store your motorcycle for a long time, you can cancel or suspend your insurance if you give your license plate to the North Carolina Division of Motor Vehicles (NCDMV). Once the plate is turned in, you can cancel your liability insurance without penalties.

Why Should I Keep Motorcycle Insurance If It is Stored Long Term?

Insurance protects your investment. Remember that if you don’t have insurance coverage while stored, and your motorcycle is stolen, damaged, or affected by a natural disaster, you have to pay for the repair or loss. If you are storing it for a long time, consider comprehensive coverage. This insurance will protect your motorcycle from fire, theft, vandalism, or natural disasters like fire and flood.

Protect Your Motorcycle and Get Peace of Mind

It’s essential to carry insurance whether you are riding your motorcycle or not. Before you cancel your motorcycle insurance, consider the pros, cons, and risks. Your bike is a valuable investment. If you don’t have the proper coverage and the unexpected happens, you must pay for the damage or loss out of your own pocket. Pethel Insurance Group, serving the Kannapolis, NC area, offers a range of motorcycle insurance options. Our experienced agents can provide a policy tailored to your needs. Contact us today.

At What Age Should I Get Life Insurance?

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Life insurance is often associated with older individuals, people who are well into life and want further protection to ensure that those who depend on them most are capable of getting through life with the financial support left behind by life insurance. While life insurance is best for those who have dependents, these milestones may vary from person to person. So, when should you get life insurance? Is there a specific age? If you’re asking these questions, here’s some further guidance on when you should consider getting life insurance and how you can begin shopping for an insurance policy with our support at Pethel Insurance Group in Kannapolis, NC.

When Should You Get Life Insurance?

Speaking to age, the best time to consider life insurance is early in life, specifically around your 20s, although your 30s is still a good time as well. Because most 20-year-olds are young and healthy, securing a life insurance policy during this time is a great way to take advantage of early premiums and begin protecting yourself and others early on. But more than that, when in life should you get life insurance? What are the circumstances that you should consider when you’re thinking about life insurance? Life insurance is often best for those who have dependents as they will likely be unable to support themselves in the event of your untimely passing financially. However, life insurance can also be a valuable investment when you have debt, want to cover funeral costs, and even if you’re looking for alternative investment opportunities as a single person.

Shop Life Insurance With Us Today!

If now is the time to shop for life insurance, you can trust us here at Pethel Insurance Group in Kannapolis, NC to make the process seamless. Compare quotes now or contact us today!

Do Single Vehicle Accidents Require a Police Report For an Insurance Claim?

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As a conscientious driver in North Carolina, you maintain your car insurance to ensure you’re covered in case of an incident. The severity of incidents can vary, and as we at Pethel Insurance Group, serving Kannapolis, NC, know, a driver may often experience a single-vehicle accident.

Understanding Single Vehicle Accidents

A single-vehicle accident involves only one vehicle. Even if other vehicles are present on the road, only one vehicle is involved in the accident. Examples include:

  • Colliding with a tree
  • Striking infrastructure (light post, sign, curb, etc.)
  • Crashing into property (house, garage, etc.)

Is a Police Report Required for a Single Vehicle Accident Insurance Claim?

Often, single-vehicle accidents require a police report for insurance purposes, depending on the circumstances. A police report serves as an official record of the accident, providing details that can assist your insurance company in processing the claim more efficiently. While not all single-vehicle accidents legally require a report, filing one to protect your interests is generally recommended.

When a Police Report is Required

According to North Carolina law, a police report is required if the accident results in injuries, death, or property damage exceeding $1,000. This includes situations like hitting a utility pole, guardrail, or other roadside objects. Even if the accident seems minor, reporting it can provide documentation that may prevent disputes later. Without a police report, your insurer might question the legitimacy of your claim, potentially delaying or even denying coverage. Filing a report is particularly important if external factors contributed to the accident, such as hazardous road conditions, wildlife encounters, or mechanical failure. In these cases, the police report can support your claim by documenting the external cause of the accident.

If you experience any damage-related incident with your vehicle, please get in touch with Pethel Insurance Group, serving Kannapolis, NC, for assistance with your claim.

Predictive Analytics: Revolutionizing Underwriting for Commercial Policies

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The landscape of commercial insurance underwriting is undergoing a significant transformation, driven by the power of predictive analytics around Kannapolis, NC. Predictive analytics allows insurers to make more accurate, data-driven decisions by analyzing vast amounts of data and identifying patterns. This evolving technology enhances underwriting processes, improves risk assessments, and delivers more personalized policies for businesses.

Improving Risk Assessment with Predictive Analytics

Traditional underwriting methods rely heavily on historical data, such as past claims and financial stability, to assess a business’s risk profile. Predictive analytics takes this a step further by analyzing real-time data and external factors, such as industry trends, weather patterns, and even social media activity. These insights enable insurers to comprehensively evaluate risk, leading to more precise premium pricing and policy terms.

For example, predictive models can identify emerging risks that might not have been apparent using traditional methods, such as cybersecurity threats for tech companies or supply chain disruptions for manufacturers.

Personalizing Coverage with Predictive Analytics

Predictive analytics also allows insurers to tailor policies to each business’s specific needs. By leveraging company size, operations, and industry data, insurers can offer customized coverage options that align with a business’s unique risks. This personalized approach not only helps businesses secure the right level of protection but can also result in cost savings by avoiding overinsurance.

Enhancing Claims Management with Predictive Analytics

Beyond underwriting, predictive analytics plays a role in optimizing claims management. By forecasting a claims likelihood and severity, insurers can streamline claims processes and respond more efficiently. This proactive approach benefits both the insurer and the policyholder, fostering a more efficient, customer-centric insurance experience.

Contact Pethel Insurance Group for Your Insurance Needs

Pethel Insurance Group underwrites policies to fit our customers’ needs. We serve Kannapolis, NC, and the surrounding cities. Contact us today.

How do you further protect your home after a covered peril?

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When your home is damaged by a peril covered by your insurance policy, each homeowner has specific responsibilities to ensure that no further damage occurs to the property before a claims adjuster can come and assess the damage. This prevents a $2000 claim from becoming a $20,000 situation and aids in your faster return to your home and return to the normalcy you and your family desire.

At Pethel Insurance Group in Kannapolis, NC, we understand that during a time of loss, your emotions are high, and your stress is unbelievable. So, we are here to help guide you through what to do next.

What is a Covered Peril?

A covered peril is a thing that your insurance policy covers your home against. Those things include fire, smoke damage, explosion, lightning strikes, wind and hail, theft, and falling objects. In addition, you can get coverage to protect your home against water damage, vandalism, malicious mischief, the weight of ice and snow, and damage from aircraft or vehicles. There are other damages, such as floods, earthquakes, and volcanic eruptions, that you can also get coverage for.

Check your homeowner’s policy to see what perils are covered.

After an Incident Has Occurred

Once you have filed a claim, you need to protect your home. First, you should document any damage you see in the house by writing it down and taking pictures. Then, take an inventory of everything that was damaged or destroyed, including the cost and what you believe it will cost to replace the items.

Next, you take steps to prevent additional damage, such as boarding up broken windows or placing a tarp on a leaking roof. You also make any temporary repairs needed in order to avoid further damage. Finally, save receipts for any supplies and materials you purchased to be reimbursed by insurance.

Then, you will need to provide any information that the insurance company may need during the investigation so that they can get your claim processed in a timely manner. Contact the fire department or police authorities for any relevant information to process your claim.

Lastly, never admit fault when speaking to an insurance adjuster; instead, disclose all events as they happened.

Give us a call today!

If you have any more questions or concerns about your responsibility after a covered peril, we are here to help. Call Pethel Insurance Group in Kannapolis, NC, at (704) 933-9488 today.

Does Renters Insurance Cover My Roommate?

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Renters insurance provides financial protection in the event of a covered incident. If you rent an apartment, having renters insurance can save you money should you need to replace your belongings due to events like a fire or theft. If you need renters insurance, the professionals at Pethel Insurance Group servicing Kannapolis, NC can help. If your roommate also needs renters insurance, we can provide answers to help both of you get the coverage you need.

What Does Renters Insurance Cover?

Renters insurance covers the repair or replacement of belongings when a covered event occurs. For example, if a kitchen fire damages your apartment, your renter’s insurance will pay to repair or replace damaged belongings.

Every policy is different, but standard renters insurance typically covers events such as:

  • Windstorm
  • Fire
  • Smoke
  • Theft
  • Vandalism
  • Explosion
  • Lightning

Your renter’s insurance policy may also cover certain types of water damage.

Will It Cover My Roommate’s Stuff?

If your roommate’s items are damaged in a covered event, they will not be covered by your renter’s insurance policy unless your roommate has been added to your policy. Most insurance companies require roommates to have their own separate insurance policy.

My Roommate Wants Insurance – What Should They Do?

If your roommate is interested in renters insurance, you can provide them with the contact information for Pethel Insurance Group servicing Kannapolis, NC. We offer renters insurance to clients who want to protect their belongings during a covered event. We work with a range of insurance carriers to make this possible so you and your roommate can find the best policy for their needs. Call today.

Preparing Your Motorcycle for Winter

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Pethel Insurance Group provides insurance coverage to numerous motorcyclists in Kannapolis, NC, and we want to ensure their bikes are well maintained. Proper motorcycle maintenance can help lower insurance claims, so follow these tips when preparing your motorcycle for winter storage.

Taking Care of Your Battery

When it comes to keeping your battery charged, you have a couple of options. You can either connect it to a trickle charger that charges your battery until it’s full and then stops, or you can disconnect your battery entirely from the motorcycle before storing it for winter.

Maintaining Your Fuel Tank

An empty fuel tank can rust over winter. Prevent this by filling your gas tank before storing your motorcycle. However, gas can thicken over time, leading to blocked fuel lines or carburetor issues when you ride again. Adding a fuel stabilizer to your gas tank before storing your motorcycle during the colder months can help prevent this.

Preservation of Cables and Chains

Use oil and lubricant on the motorcycle’s cables and chains before storing them. This can prevent them from corroding and make them less likely to stick when you ride in the spring.

Cleaning Your Bike

Similar to how people prefer a thorough cleanse, motorcycles benefit from a thorough wash and wax. After washing your bike, apply wax to all painted surfaces to protect them from corrosion. Spray WD-40 on all the chrome and metal parts of your motorcycle. As "WD" stands for water displacement, it protects your bike’s metals by creating a protective layer. Make sure to wipe it off before you ride your bike in the spring.

Secure Your Motorcycle with Us

You take care of covering your bike after parking it safely for winter. Let Pethel Insurance Group handle insuring your motorcycle in Kannapolis, NC. Connect with us today to start building your motorcycle policy.

Tips for Having Life Insurance Conversations With Your Family

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Discussing life insurance can sometimes feel awkward and melancholy. People naturally avoid contemplating mortality, but preparing for inevitable life challenges requires honest discussions. At Pethel Insurance Group, serving Kannapolis, NC, and the surrounding areas, we aim to assist families in navigating these challenging topics. The following are several tips for facilitating these difficult discussions.

Properly Prepare Family Members For the Conversation

Most people are uncomfortable when unwittingly thrust into intense discussions, particularly concerning subjects that they already find disconcerting. It’s important to notify your family members ahead of time about the significance of this topic to you and schedule a time for a collective discussion.

Be Gentle

If you have a family member who is particularly sensitive to discussions about death or dying, you should approach this conversation with extra care. Explain the necessity of these tough topics, emphasizing that avoiding further pain following a loss is important.

Explain How Insurance Helps

It’s also crucial to elucidate how insurance can provide relief during the distressing time of losing a loved one. It helps cover final expenses, ensuring the deceased obtains their preferred final arrangements. Furthermore, insurance ensures that the remaining family members are financially cared for without the deceased’s income.

If you’d like to learn more about life insurance, contact Pethel Insurance Group, serving Kannapolis, NC, and the surrounding regions. We’re here and ready to answer your questions.

The Importance of Renewing Your Auto Insurance Policy Annually

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Kannapolis, NC residents often enjoy driving due to its subtropical climate, southern charm, and convenient location near the interstate. However, unexpected vehicle accidents do occur, and preparedness for such incidents is key. At Pethel Insurance Group, we offer comprehensive auto insurance for financial protection against covered losses. Renewing your auto policy each year safeguards you and others on the road, granting you peace of mind.

Reasons to Renew Your Auto Insurance Policy

There are several reasons to renew your auto insurance each year, including the following:

1. Legal Requirements

In North Carolina, all vehicles with a valid registration must have continuous liability insurance from a company licensed to do business in the state. Out-of-state policies are not accepted. Annual auto insurance renewal keeps you compliant with local laws and regulations.

2. Financial Protection

Auto insurance provides policyholders with financial protection in accidents, vehicle damage, or theft. Without adequate coverage, you could personally be liable for covering such expenses. Auto insurance also covers injuries and damages caused to third parties involved in an accident where you are at fault.

3. Lender Compliance

Many individuals work with lenders to finance their vehicles, making payments over time more manageable. Often, these lenders require borrowers to maintain comprehensive and collision coverage until the loan has been paid in full. Annual renewal of your auto insurance policy ensures continued compliance with these requirements.

Speak with an Experienced Insurance Agent Today

Located in Kannapolis, NC, Pethel Insurance Group is an independent insurance agency that has served the local area since 2006. To learn more about our auto insurance options, call us today at 704-933-9488.

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!

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