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The Two Main Types of Life Insurance

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When you know that you need life insurance to help your loved ones after you’re gone, it’s a good idea to know about the two main types so that you can choose the right type of policy for you. Each type has its own pros and cons, and both work very differently from each other. When you need life insurance, you can call us at Pethel Insurance Group in Kannapolis, NC to find out more.

The Two Main Types of Life Insurance

Whole Life Insurance Policies

Whole life is named the way it is because it offers protection for your whole life. The coverage never expires, and it covers you even in your older years. This type of policy pays a death benefit upon the death of the policyholder, but it also has another benefit.

During the policyholder’s lifetime, the whole life policy will build up a value over time which is its cash value. This is an amount that the policyholder can borrow just in case they should ever need to. This is paid back as any other loan. It can help families that have a financial emergency and need that help to get out of it. 

Term Life Insurance Policies

These life insurance policies have an expiration date that allows the policy to stay in place for a certain number of years. After that term has ended, the policy expires, and you will need to get a brand new policy to cover you.

There is also no cash value that builds up on these policies. However, they cost much less than whole life policies. This low price allows a lot of people to fit life insurance into their budgets that wouldn’t be able to otherwise.

Get Life Insurance Coverage

When you need to get a life insurance policy, call us at Pethel Insurance Group in Kannapolis, NC. 

What auto coverage beyond basic you should consider

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In the state of North Carolina, the basic amount of auto insurance that you are required to carry is 30/60/25. It is strictly liability coverage to protect other drivers from you. At Pethel Insurance Group in Kannapolis, NC, we have been providing the residents of this part of North Carolina with personalized service for more than 15 years. 

Auto Insurance: Beyond The Basic 

Comprehensive coverage

Comprehensive auto insurance is frequently referred to as non-collision coverage. With this coverage, no other vehicle is involved but, lots of other things are like theft and vandalism. It covers most weather-related damage and also large animals like dear. 

Collision coverage

Collision coverage covers your vehicle if it is in an accident and sustains damage. It can be because you are responsible for the accident, are the victim of a hit-and-run, or you have a single-car collision with something other than another vehicle. 

Full glass coverage

Full glass overage is a must, it covers your windshield and all the windows in your vehicle. With this coverage, your vehicle can be repaired without having to pay a deductible, and in many cases, the repair can be done at your home or even at your job. 

Gap coverage

When you purchase a new car, you may have a large auto loan. As soon as you drive out of the dealership, your vehicle has a lot less value than it did. You may find if you have an accident at this time and total your vehicle, the amount the insurance values for your vehicle is less than what you owe. This insurance coverage covers the gap between what the insurance company values your vehicle and what you have to pay back.

Give us a call

Contact Pethel Insurance Group in Kannapolis, NC when it is time to talk about changing your auto insurance. 

What commercial insurance covers

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Commercial insurance is designed to cover the costs of damages or losses that are incurred as a result of certain business activities. In other words, it protects your business from financial loss due to things like property damage and liability claims. Pethel Insurance Group, serving the Kannapolis, NC community, is here to assist with this vital coverage.

There are several different types of commercial insurance available, each with its own specific purpose.

Some common examples include:

Property insurance

This type of coverage protects your business against losses related to physical assets such as buildings, equipment, and inventory. It may also provide protection for assets that are temporarily away from your premises, like vehicles being used for company errands.

Liability insurance

If someone suffers an injury or incurs property damage while on your premises or using your products or services, liability insurance covers the cost of any legal action that may be taken against you.

Workers’ compensation insurance

In most states, employers are legally required to carry workers’ compensation coverage for all employees. This type of policy provides financial protection if an employee is injured or becomes ill as a result of their job, and it also helps to cover associated medical bills and lost wages.

Ultimately, the right commercial insurance plan depends on your company’s unique needs and risks. When choosing a policy, it’s important to work with an experienced agent who can help you evaluate your options and find the right coverage at a competitive price.

Contact Us Today

The benefits of investing in commercial insurance cannot be overstated – it can protect your business from major financial losses. For more information about commercial insurance, give us at Pethel Insurance Group a call today. We proudly serve the Kannapolis, NC area. 

What every new homeowner needs to know about home insurance

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Buying a new home is stressful. Choosing your home insurance shouldn’t be. Buying home insurance gives you the peace of mind that you require. At Pethel Insurance Group in Kannapolis, NC, we are an independent insurance agency dedicated to making sure our customers have the right insurance for their personal needs. 

What every new homeowner needs to know about home insurance

Home insurance has exclusions

As good as home insurance is at protecting you and your home, it just won’t cover everything that could go wrong. The exclusions are clearly outlined in your policy, which makes actually reading your home insurance policy vital. Exclusions include wear and tear, owner neglect, earth movement, and floods. Knowing these exclusions allows you to make other arrangements for coverage. 

Certain coverage has limits

Another good reason to read your policy thoroughly is that certain types of items have limited coverage. Your jewelry, antiques, electronics, and other things are not covered after the limit is reached. They can, however, be extended with a rider. 

You have choices when it comes to content coverage

If you own a lot of things that you probably would not want to replace, getting replacement coverage is probably a good choice. If you love what you have and want to replace it, the current value is a better option. 

You can extend your coverage with riders

Riders or endorsements can provide additional coverage beyond what your traditional home policy includes. It can give your sewer backup coverage, and extend the coverage you have on your jewelry and electronics. 

You choose your deductible and liability coverage

You have options when it comes to the amount of liability insurance that you have and also the dollar amount of your deductible. You can customize your policy. 

Get The Right Coverage Today

Contact Pethel Insurance Group in Kannapolis, NC before you choose your home insurance coverage. 

Thinking about renting a place in Kannapolis? Be sure to get a renter’s policy!

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Pethel Insurance Group is here to help all residents of Kannapolis, NC with their insurance needs. This includes renters too! If you are looking to move into a new place, don’t forget to secure your renter’s policy! Give us a call when you’re ready to learn more about the renters’ policies that are available in our area.

Don’t forget to get a renter’s policy for your new place

Moving can be a stressful undertaking for many people. There are a lot of changes to manage, and things to take care of both at your old and new places. As hectic as everything may seem during a move, it’s important not to overlook the need for renter’s insurance.

 A good renter’s policy will protect the personal belongings that you have in your rental unit. This means that if loss or damage occurs due to a covered event, your policy will provide protection. Your landlord will also have an insurance policy in place, but this will cover their interests and any losses that occur to the building itself. Don’t rely on your landlord’s policy because it will not provide any protection for your personal items.

When selecting your policy, be sure to confirm the maximum coverage amount for a single item so that you have the coverage you need. With a robust policy in place, you can relax knowing that your items are protected.

Call or stop by today!

Before you move into your new place in the Kannapolis, NC area, be sure to get in touch with the team at Pethel Insurance Group. We can review your insurance needs and help you find a renter’s policy that will be the right fit. Contact our office today and find out more.

3 Pieces of Gear You Need to Ride a Motorcycle Safely

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You need three main pieces of gear to ride a motorcycle safely. These include a helmet, gloves, and boots. Each of these items provides a different level of protection, so choosing the right gear for your needs is critical. From Pethel Insurance Group, here are the reasons why Kannapolis, NC motorcycle owners need these pieces of gear every time they ride.

3 Pieces of Gear You Need to Ride a Motorcycle Safely

Wear a helmet

There are many reasons to wear a helmet when operating a motorcycle. For one, it can help protect your head in the event of an accident. Additionally, helmets can help reduce wind noise and protect your face from bugs and debris. What is the best helmet to wear when riding a motorcycle?

There is no definitive answer about the best helmet for motorcycle riding. However, many experts recommend full-face helmets because they offer the most protection for your head and face.

Wear a jacket

Wearing a jacket while operating a motorcycle has several benefits. A jacket will protect you from the elements, including wind, rain, and cold temperatures. Second, a jacket will provide some protection in the event of a fall. Third, a jacket will make you more visible to other motorists.

Wear boots

Boots are an important part of a motorcyclist’s wardrobe because they protect your feet and ankles from the elements and road debris. They also provide good traction when you need to put your foot down on the pavement.

Get Motorcycle Insurance Today

Pethel Insurance Group in Kannapolis, NC offers motorcycle insurance coverage to protect you and your bike on the open road. We have various coverage options to choose from, so you can find the right policy for your needs. Contact us today to get started on your motorcycle insurance quote.

We help Kannapolis area families find the right life insurance

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Families who live in the greater Kannapolis, NC area rely on the team at Pethel Insurance Group for all of their life insurance needs. If you are unsure about what type of life insurance, and what amount, is right for your family, we can help. Our team is here to answer any questions that you may have about life insurance. Give us a call or stop by our office today.

Do you need help finding the right life insurance for your family?

Choosing the right type of life insurance for your family may feel like a difficult decision. And, because everyone’s situation and needs are different, you may not know where to turn for advice.

One of the best ways to determine the right type and amount of life insurance that is right for your family is to sit down with a local agent. This allows them to form a clearer picture of your family’s future needs. Life insurance is especially important for families with young children, but the need for life insurance doesn’t end when those children turn 18.

Take the time to calculate your life insurance needs and take one step closer to providing your family with the protection it needs. There are many different life insurance options available. One is sure to be right for you!

Get in touch with us today!

Pethel Insurance Group is here to serve the insurance needs of the greater Kannapolis, NC area community. We can help you determine which type of policy is right for your family, and also provide information on what the appropriate level of protection may be. We are here to help! Call or stop by our office today to learn more about the life insurance options that are available in our area. 

North Carolina Auto Insurance Basics

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Insurance is a "must-have" for Kannapolis, NC automobile owners. Quite simply, it’s the law to have automobile insurance if you have an automobile. Understanding what type of insurance you need and why, however, can be significantly more complex. 

Explore some of the basics of auto insurance in North Carolina. Pethel Insurance Group can help you navigate this important insurance coverage.

You Can’t Skip Out on Auto Insurance

Have you ever heard of people paying insurance sometimes and then letting it lapse? Well, in North Carolina that isn’t legal. The law requires automobile liability to be continuous — meaning you should always be covered and not have gaps in your coverage.

Minimum Auto Insurance

Not only must your insurance be ongoing, but it must cover a certain amount of damages. As listed by the state you must carry:

  • $30,000 Bodily Injury for each person
  • $60,000 total Bodily Injury for all persons in an accident
  • $25,000 for Property Damage

What these legal guidelines mean is that you must meet a minimum of insured medical coverage for any person who may be involved in a car accident with you including those in your car and the other vehicle or vehicles. In addition to having basic medical coverage, you need to have a minimum amount of insurance for property damage that you may cause to the other party, such as engine work or body work needed for repair.

Uninsured Motorist Coverage

North Carolina also requires uninsured motorist coverage — this is your protection against people who don’t follow the rules. Uninsured motorist coverage may include your medical costs and sometimes vehicle repair if you are hit-and-run or have an accident with a person not holding legal insurance.

Learn about the auto insurance specifics that matter to you with Pethel Insurance Group in Kannapolis, NC.

What Should I Look For In A Commercial Insurance Policy?

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Commercial insurance policies typically come in two types. The first is a liability insurance policy. This type of policy will protect against financial losses caused by another party. 

The second main type of commercial insurance is coverage for property, liability, or both. This type of policy will protect against financial losses caused by things such as natural disasters or accidents. For questions, consult Pethel Insurance Group serving the greater Kannapolis, NC community. 

What to Look For in a Commercial Insurance Policy 

Commercial insurance is purchased by a company or business rather than an individual. A commercial policy typically covers what a standard homeowners’ or auto policy would cover, such as property damage or accidents. But it goes beyond to insure things such as your business, advertising, inventory, and stock. 

Commercial insurance is designed to protect businesses against the risk of financial loss due to a covered peril. The most common types of commercial insurance policies include liability insurance, which protects a company against the risk of being sued due to an injury or loss to third parties. Typically, the policies are: 

  • Unique in that they are not tied to a specific business, industry, product, or a single location. Therefore, there are a number of different types of commercial insurance available, and it is important to know the difference between them. 
  • Have a shorter duration, typically ranging from one to five years.
  • Have a higher deductible, which means you must pay a percentage of the claim before the insurance company is responsible for paying anything. 
  • Have a maximum claim limit.
  • Have a minimum amount of coverage that you must have, which means you can be left without enough coverage to cover the cost if something happens. 

Contact Us Today

A commercial insurance policies come in different forms and you can purchase them directly from an insurance company or through a broker. First, you should ensure the policy comes from a reputable insurance company. 

Second, make sure the coverage you purchase is exactly what you need. For expert assistance in the Kannapolis, NC area, consult Pethel Insurance Group.

How Often Should I Review My Home Insurance Policy?

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It’s best that you stay on top of your home insurance policy to ensure that you are not only getting the best protection for your home but also the best deal on your premiums. This is why you should frequently review your home insurance policy. Here’s how often you need to do this as a Kannapolis, NC homeowner. 

How Often Should I Review My Home Insurance Policy? 

Annually, at renewal time:

Most home policies offer protection for 12 months, after which the policy will expire unless you renew it, or it will be automatically renewed. You should take advantage of this renewal to review your home policy. You can change your home insurance policy to fit your current protection needs, like adding or removing some coverages or increasing or lowering deductibles. 

When renovating or remodeling:

Renovating or remodeling your home will typically increase its value. Therefore, you should contact your insurer to review your home insurance and make sure that it reflects the renovations and the remodeling done and the increased value of the property. 

When you purchase expensive stuff: 

At Pethel Insurance Group, we recommend that whenever you purchase something pricy, such as a piece of art or jewelry, you review your home insurance policy. This will ensure that your recently priced possession is covered under your home insurance in case of loss or damage. 

When you rent your basement or a room:

You should let your insurer know when you lease your basement or a room in your home while still living there. This will prevent your home policy from getting canceled by the insurer for violation of terms. Also, review your home insurance policy to increase your coverage since more people live there and there is more personal property in the home. 

 

Give Us A Call

If you need more info on your home insurance policy in Kannapolis, NC and surrounding areas, Pethel Insurance Group is happy to help. Contact us today.

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