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Young Insurance Associates, Inc.

3824 Barrett Dr, Ste 101
Raleigh, NC 27609

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15720 Brixham Hill Ave, Suite 300
Charlotte, NC 28277

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Do All Businesses Need to Have Commercial Insurance?

As any business owner knows, there are many different decisions that need to be made on a regular basis. One decision that will need to be made if you are the head of a business is whether or not to get commercial insurance. While it may be an additional expense that you would like to avoid, there are several reasons why all businesses need to have commercial insurance in place.

Meets State Requirements

One reason why you will need to have a commercial insurance policy in place is that it will help to ensure that you can meet the state insurance requirements. In North Carolina, you are required to carry workers compensation insurance if you have three or more employees. This type of insurance will provide the necessary coverage in the event someone is injured while working for you.

Lender Requirements

Another key reason why you need to have commercial insurance is that it will be required by a lender. If you have a business, you may eventually need to take out a loan to finance your growth. If you do take out a loan for any reason, the lender will undoubtedly require that you carry liability insurance at all times. This will provide you and your lender with protection in the event you are sued for liability. Many customers and investors will also want to confirm that you are covered by liability insurance.

If you have a business in the Raleigh, NC area and are considering your commercial insurance needs, you should speak with the team at Young Insurance Associates Inc. When you meet with the insurance professionals at Young Insurance Associates Inc, you will learn far more about the different benefits that come with commercial insurance. You will then be able to pick a policy that is right for you. 

Insuring a Vacation Home and a Primary Residence

It is nice to have a vacation home. Of course, a vacation home also needs to have home insurance. There are special considerations that come up for those who have both a primary residence and a vacation home. It is important to discuss the specifics with your agent at Young Insurance Associates Inc, serving Raleigh, NC and the surrounding communities. This helps when making decisions about how to have adequate insurance coverage for both properties.

Things to think about and talk about with your agent include:

  • Occupancy: Insurance coverage requirements will be different depending on how each home will be occupied during a full year. Homes that are left vacant for part of the year have a different risk profile than homes that are always occupied.
  • Regular Maintenance: Unoccupied homes may suffer from neglect if they do not receive regular maintenance. Landscaping, exterior finishes, and the general condition of the property all need to be maintained properly, especially if the home is not occupied.
  • Rentals: If either your primary residence or your vacation home will be rented to others for part of the year, this affects the type of home insurance coverage needed. Renting a property creates a commercial use of the home, which requires different insurance.
  • Benefits of Insuring with a Single Underwriter: Sometimes there are benefits that come from using the same insurance underwriter for both homes. Ask your agent to explain the particulars.
  • Home Security: Alarms, video surveillance systems, and security companies that watch a property are beneficial in protecting the property and may have a positive impact on the insurance coverage.
  • Caretakers: For luxury properties, having a professional caretaker, whose background has been checked thoroughly, may be desirable. Be aware that having an employee means the property may need commercial insurance. Ask your agent about this issue before hiring a caretaker.

Contact your agent Young Insurance Associates Inc in Raleigh, NC for all of your home insurance needs for a primary residence and a vacation home.

3 Tips to Prepare Your Boat For Winter Storage

Unfortunately, summer in Raleigh, NC is coming to an end, which means it’s time to put your boat in storage for the winter. Whether you spend every free minute on the water or you only occasionally take the boat out to go fishing, you know how tedious it can be to prepare your boat for the winter. Whether you are storing your boat in a rented storage facility or your garage, here are a few tips to make sure it’s ready for winter storage.

Fill the Gas Tank

If the gas tank is empty, it will start to get moisture in it any gas that is left in the tank will turn to water, which will cause your gas tank to rust and corrode. So, make sure the gas tank is filled and you should add a fuel stabilizer before storing it for the winter. You should also change the oil before parking it in storage and if it’s being stored outdoors, be sure to remove the battery and any other electronic devices.

Do a Thorough Cleaning

There are a couple of reasons why it is essential that you thoroughly clean your boat before putting in storage. First, this will give you an opportunity to identify any issues with the boat, such as areas that need to be repaired or painted. Second, making sure the boat is clean before storing it will help to prevent the risk of mold and mildew growing. Once the boat is completely clean, be sure to apply an anti-corrosion spray to help protect the exterior. The boat should also be covered to keep dust and moisture out.

Drain Coolant & Pump the Holding Tank

Be sure to drain the coolant from the engine and replace it with a propylene glycol based antifreeze, which is non-toxic and if it is in an enclosed storage facility, you won’t need to worry about the release of toxic fumes. One of the last things you’ll need to do is make sure to pump the holding tank, making sure to flush the head several times with clean water.  

The last thing you should have to do before leaving your boat for the winter is to make sure you clear the boat out. Remove the fire extinguishers, cushions, personal items and don’t forget to clean out the refrigerator and/or fish holders. Also, remember to contact Young Insurance Associates Inc to inquire about any changes in your boating insurance, such as discounts for seasonal storage.

Residents of Raleigh, NC who are interested in learning more information about boat insurance should contact Young Insurance Associates Inc.


Which Is Better Comprehensive of Collision Coverage?

Choosing the right type of insurance coverage for your vehicle can be confusing. While you want to save money, you need to protect your investment as much as possible in case an accident occurs. If you live in the Raleigh, NC area, you can call Young Insurance Associates Inc if you have questions about what collision and comprehensive forms of coverage.

Collision Coverage

Collision insurance will only cover damages received during a collision. This is basically accident insurance that covers damages to the exterior of the car if it is involved in any type of accident that involves a collision with another vehicle or an object. In some cases, if the dollar amount of the damage exceeds the value of the vehicle, the insurance adjuster will declare the vehicle a total loss.

Comprehensive Coverage

Comprehensive insurance coverage is often required by lenders who hold a lien on a vehicle. This ensures that their investment is protected as long as the buyer owes money. A comprehensive insurance policy covers all types of loss including broken windshields, hail damage, theft, vandalism, and collision. While this type of policy is more expensive, it provides full coverage for events that occur more frequently than a collision.

The agents at Young Insurance Associates Inc encourage their clients to get a policy evaluation every few years to determine if their insurance needs have changed. If your vehicle is old enough, comprehensive insurance may not be needed. In some cases, a PL/PD policy may suffice. If you live in Raleigh, NC or any of the surrounding communities, contact your insurance agent and schedule an appointment today! They will make sure you have a policy in place that best suits your needs. 

What Kind Of Risks Are Covered By Boat Insurance?

Did you know that boat insurance is one of the earliest forms of insurance? Even ancient sailors knew the risks that come with traveling by sea and chose to protect their vessels against unpredictable waters. This still applies today. Insuring your boat will give you peace of mind each time you are using it.

One of the most reliable insurance companies you can rely on when you need boat insurance in Raleigh, NC is Young Insurance Associates Inc.

Boat insurance coverages vary widely depending on what they are designed to protect, among other considerations like the type of boat, the duration the vessel will be used, and the traffic on the waters. Still, there are some basic coverages you can expect to get. They include:

Physical damage

This policy protects your vessel against loss or damage caused by common risks like fire, theft, sinking, storms, and collision. Even though the covered limit can vary, such a policy usually covers the hull as well as other permanent components like anchors, extra batteries, fuel tanks, motors, and on-boat safety equipment like fire extinguishers and protection devices. The trailer may also be covered depending on the insurance plan.

Liability coverage

This insurance plan applies if the boat causes damages to other boats, structures or docks, or injures other people. Note that the damages or injuries can occur as a result of direct contact with your vessel, or certain situations created by the boat like large wakes. Liability coverage may also offer protection against a lawsuit and pay for legal fees and settlements.

Other coverage

Your Raleigh, NC insurance company can provide additional coverage to offer more protection. So, if you have extra needs, consider talking to your insurance agent to know the available options.

For more information on the risks covered by your boat insurance coverage, contact Young Insurance Associates Inc today.


No Matter the Boat, You Need Boating Insurance

Boating insurance isn’t just for large vessels you tow out for weekend beach activities. Whether you own a large sail boat or a small fishing boat, it is important to protect the investment with boating insurance. So whether you live in Raleigh, NC or in a surrounding community, Young Insurance Associates Inc is here to assist you in understanding the importance of boating insurance. 

What Kinds of Boats are Covered

Just about any watercraft with an engine is covered under boating insurance. This means anything from a pontoon to a jetski is protected with boating insurance. Vessels without an engine, such as a sailboat, require slightly different boating insurance coverage. This is because there is no engine to insure but instead a mast.

What Boat Insurance Covers

There are different kinds of boat insurance policies, so selecting the right coverage is important. However, boat insurance can cover collision damage, property damage, bodily injury damage and comprehensive coverage (which protects your boat if it is stolen or vandalized). 

There are additional forms of boat insurance coverage that provides coverage for fishing equipment, offers roadside assistance, plus coverage caused by boaters who do not have their own boat insurance. 

Boating insurance provides you with a number of safeguards against potential damage. From an accident while in transit to the body of water or you run out of gas while on the water and require a tug to the dock, boat insurance is here to provide you peace of mind and adequate protection. So when living around the greater Raleigh, NC area, if you have any concerns regarding boating insurance or you’re interested in adding it to your current lineup of insurance policies, now is the perfect time to reach out and contact Young Insurance Associates Inc. 

What is Umbrella Insurance?

There are a lot of different type of insurance policies that are available out in the world but that doesn’t mean that every single option makes sense for you and your needs. A type of insurance policy that people tend to not know a lot about is the umbrella insurance policy. While it is one that many people may not be familiar with, it is a very useful policy. You may be wondering what this type of policy can actually cover. This guide from Young Insurance Associates Inc, serving Raleigh, NC, can help you to better understand what it is and if you need it.

An umbrella insurance policy is a policy that acts like an umbrella. It is a policy that you would have in addition to other policies and it provides additional coverage that others may not provide to you. For example, it can give you more liability coverage if you are well known in your community and need that coverage. It can also cover your home or car if your home and car are more expensive than a traditional policy covers. It is essentially a policy that is used in addition to what you already have in place if you need more coverage.

Now that you have a better idea of what an umbrella insurance policy is and what it can cover, you can figure out if it is something that you need. However, if you are still not sure if you need it or if it is right for your needs, be sure to reach out to us here at Young Insurance Associates Inc, serving Raleigh, NC, today. We can not only help you make this decision but can also get you a free quote for coverage so you can sign up as soon as possible.

Differences between condo and homeowners insurance

If you’ve never lived in a Raleigh, NC condo before, you may be surprised to find that there are differences between homeowner’s insurance and condo insurance. The structure by which a condo is purchased, owned and managed is different, and so is the insurance, as you will find out if you give Young Insurance Associates Inc a call.

Here’s the simplest way to explain how it breaks down in most cases: Everything inside the condo is your responsibility, everything outside the condo is the management’s, and those insurance costs will typically be covered by the fees you’re paying to the condo association. So when you go out to buy your own coverage, you’re making sure that if someone breaks in, you’ll be covered if you want to replace your stolen TV and sofa. The broken window is going to be covered by the management. Everything inside the condo that was damaged or stolen will be covered by your provider.

We could go a little further into it than that, but that’s the basic difference. Many people who live in condos skip buying their own insurance, either because they don’t know that the association will not cover their possessions, or because they don’t really care, or have another insurance plan in place to cover their most expensive belongings. Whatever the case may be, just know that your condo association does not cover you in the same way that a homeowner’s policy does. If you want to be one hundred percent covered, you need to give Young Insurance Associates Inc a call and get your Raleigh, NC condo protected with a policy of your own.

What to Do If You’ve Been the Victim of a Break-In

Home burglaries happen all the time, but when it happens to you, it is difficult to handle. Your home, the supposed place of peace and safe haven, was rudely violated. The items you have worked for years to acquire are gone, and you feel vulnerable and exposed. Burglary is definitely an emotional experience, but you need to handle it correctly so law enforcement can do their jobs and the insurance agent can do his. Remember these tips from Young Insurance Associates Inc if your home is burglarized in Raleigh, NC.

Leave the House and Call the Police

Your first impulse may be to check out what is missing in the house or see if the thieves are still there. However, as soon as you realize that your home has been broken into, you will want to go outside and call the police. Don’t make the call from inside the home because the thieves may still be in there and they may be armed. Let law enforcement arrive and clear the house for you. They will collect evidence and make a police report on the incident. While they’re there, you can start making a list of any valuables that are missing.

Don’t Start Cleaning Up

Yes, it is hard to see your lovely home trashed, but don’t start cleaning up yet. Call your insurance company, preferably while the police are still there. Don’t begin making repairs on damaged doors or broken windows until the insurance adjuster comes by. He will want to take pictures and videos of the damage to the house and collect your list of missing items. Don’t worry if you miss a few items, you will probably be able to add to the list in the next few weeks if you need to. 

Clean Up and Repair

Once you’ve been given the all clear by your insurance agent, you can start cleaning up and making repairs. You’ll want to board up windows until they can be replaced. If your door locks were tampered with or your door was broken, figure out a way to secure your home before you stay in the house. Use reputable repair people for your permanent repairs.

Secure Your Home

Take steps to make sure that this never happens again. Install outdoor lighting, upgrade your door locks, and maybe install security cameras. You may want to trim hedges and trees to make your home more visible from the street. You may also want to install a security system.

Being the victim of a robbery in Raleigh, NC is hard, but you can recover from this. If you have questions about your insurance coverage, contact Young Insurance Associates Inc.


Does Commercial Insurance Cover Natural Disasters In North Carolina?

Business insurance is the most common type of indemnity policy that entrepreneurs seek when starting a new company. A good plan provides peace of mind in knowing that your assets are protected in the instance of tragedy. All commercial insurance policies are not created equally and, thus, do not always cover damages caused by natural disaster. Here are three endorsements that your indemnity plan should have if you are doing business in Raleigh, NC. Young Insurance Associates Inc. can, of course, help you find the right policy to suit your business’ needs. 

Flood Insurance
Did you know that standard commercial insurance plans do not cover damages caused by flooding? You could find yourself paying out-of-pocket costs in the thousands if you fail to add this endorsement to your policy. There are roughly 81,000 flood claims in North Carolina every year, and more than $10 billion in damages are reported annually due to flooding in the region. Do you want to take a chance and go without flood insurance?

Business Personal Property Coverage
This addition pays for equipment damages and inventory loss at a specific location. You should be aware that business personal property coverage may not pay for equipment and furniture damaged while away from the premises of your company. You should invest in a different type of commercial insurance to cover company items that travel in your vehicle. 

Business Income
What happens if a fire ravages through your retail store and forces you to close for months? You will be out of luck if you lack a business income endorsement on your plan. Also called business interruption coverage, this policy feature pays for your loss of income caused by unexpected disasters such as fires, storms, and even regional power outages. Every company owner who relies on utilities or uses a specific location to conduct business should invest in this plan. 

Young Insurance Associates Inc understands the time and money that goes into making your business great in Raleigh, NC. Our friendly agents will be happy to assist you in finding the commercial insurance policy that is best for your situation. Contact us today for a quote.