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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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Is Commercial Insurance Required in North Carolina?

If you are a North Carolina business owner then you are required to carry at least two types of commercial insurance: workers’ compensation and commercial auto insurance. Only businesses that employ three or more individuals regardless of whether they are full-time or part-time are mandated to have workers’ compensation coverage; however, even North Carolina businesses that have just one or two employees should strongly consider a policy. Workers’ compensation insurance helps pay medical bills for work-related injuries or illnesses and protects you, as a business owner, from liability associated with that injury or illness. 

Additionally, any business-owned vehicles in North Carolina are required to be covered under a commercial auto insurance policy. If you ask your employees to use their personal vehicles for work use, then it is strongly recommended that you have a hired and non-owned auto insurance policy because many personal use policies will exclude business use from coverage. 

In addition to workers’ compensation and commercial auto insurance, it is recommended but not required for businesses to carry additional coverage depending on the type of work that they do. For instance, if you own a company that stores personally identifiable information like a social security number, bank account information, or phone numbers tied to customers then you should consider cyber liability insurance in case you suffer a data breach or hack. A reputable agency, like the team at Young Insurance Associates Inc in Raleigh, NC, will help you find the perfect policy for your needs. We’ll take the time to ask questions about your business so that we can recommend a customized policy that is tailored to your company.

Is boat insurance a requirement in Raleigh, NC?

Nothing beats the feeling that comes with using your hard-earned savings on savory things like a boat. For a water enthusiast, a watercraft can be a special vessel in Raleigh, NC, where there are lots of fun things to do for boaters. However, with the fun comes unfathomed risks that can quickly wipe out your savings; that is why you need boat insurance.

While it is not a requirement in North Carolina, boat insurance is a vital policy that every boater should have. Young Insurance Associates Inc can help you find a plan that will protect your boat.

Why is boat insurance important?

Even if it is not a requirement, boat insurance gives you the assurance that your vessel is well protected and safe throughout the year. Sometimes accidents are inevitable, especially in Raleigh NC, but with boat insurance, you are sure to get compensation in case your boat is stolen or damaged. Most boat insurance policies cover physical damage, medical payments, and liability.

Major coverages

Boat insurance provides coverage for the following:

  • Physical damage: This coverage protects your boat against physical damage caused by windstorms, lightning, fire, or vandalism. The insurance company will typically pay for the repairs or replacements. However, your personal effects not related to the boat may not be covered, but you can buy premium coverage for that.
  • Medical payments: This coverage pays for medical bills up to the covered limits in case you are injured or another person in your boat. It also pays funeral expenses.
  • Liability: Your liability coverage compensates for property damage or bodily injury. It also covers lawsuits in case you are sued.

While these coverages are the most critical, you are eligible to buy additional coverages based on your budget, style, and preference. You can purchase coverages such as emergency towing, spare parts, and other plans that fit your needs.

Feel free to contact Young Insurance Associates Inc for more information on boat insurance.

Will Home Insurance Cover What I Keep At The Office?

Your home insurance policy covers everything that you keep inside your home, even when it’s not inside your home. If your laptop is stolen from your car, for instance, your home insurance will likely cover it as long as it’s on the policy. So, generally speaking, anything you take to the office with you is going to be covered by most home insurance providers in Raleigh, NC.

That said, there are some things that you’ll need to keep in mind, here. Namely, if your possessions are not in your home, they will be covered as part of the "off-premises" coverage, which typically extends to 50% the limits of your standard home policy for possessions. This means that if you, say, forget your expensive watch in your desk at work one night and it’s lost in a break-in, you’re probably covered, depending on the value of the watch. But you don’t want to use your office as a storage facility for thousands of dollars worth of personal possessions. In other words, the office might not be the best hiding place for a big pile of expensive Christmas gifts.

To make sure that you’re covered, you need to keep an accurate inventory of your possessions, and you need to know what your limits are, and what your limits are for off-premises possessions so that you know exactly how much protection you have away from home.

If you’re still shopping around for home insurance in Raleigh, NC, get in touch with Young Insurance Associates Inc. At Young Insurance Associates Inc we can compare quotes and get you a good deal on a great policy, so call, stop by or get in touch through our website and let’s see what we can do for you.

Questions To Ask Yourself When Buying Auto Insurance

Shopping for auto insurance is a tricky process, and not everyone is an expert. Many people buy a policy solely based on their friends’ and family members’ recommendations by not considering their own needs and other factors. However, in order to make the right choice and not to regret about it afterward, there are certain questions you need to ask yourself when shopping for car insurance: 

What Is My Risk Assessment?

The cost of your insurance depends on numerous factors. One of them is the risk you are posing towards an insurance company. The higher risk is, the more expensive your insurance will be. In order to determine the overall risk you pose, the following factors are taken into consideration: your age, sex, driving history, location, credit score, and some others. Think about your risk level and do some research before reaching an insurance company

What Type of Car Do I Drive? 

The cost of your insurance also depends on the type of car you own. For example, if you have an expensive sports car, it is at risk of being stolen. Moreover, the repairs of sports cars are generally cost more than repairs of average standard vehicles. 

Where Do I Live and Park My Car? 

Your address and location where you park your car plays an important role. For example, if you live in an apartment in Raleigh, NC, and park your car on the street, you are more prone to theft or vandalism. This factor will most likely increase the rate of your auto insurance. Therefore, before getting a certain plan, think where you are planning to park your car and how safe the environment is. 

Choosing the right coverage for your car is not easy. Even if you have answered the questions above, you still might be not sure what policy is better for you. Do not worry – Young Insurance Associates Inc serving Raleigh, NC and other surrounding towns are ready to assist you and guide you through this process. Call Young Insurance Associates Inc today to find out how we can help to protect your vehicle. 

When should I start considering an umbrella insurance policy?

Umbrella insurance is a key consideration for a variety of people. However, it becomes an even more important investment when you have substantial assets or property holdings. A good rule of thumb is to start considering an umbrella policy purchase when your total assets exceed the amount of liability insurance you possess. This includes liability coverage on home and auto policies. Umbrella policies are available with various amounts of liability protection. To ensure you buy a policy capable of meeting your needs, visit Young Insurance Associates Inc serving Raleigh, NC to discuss options.

What do you mean assets? 

For the purpose of liability, your assets include anything able to be accessed if you were sued for damages resulting from a wreck, accident, or professional conflict. Assets excluded from tapping in a civil lawsuit vary from state-to-state. The most consistent exclusion is limited to employer-sponsored retirement plans. Everything else needs to be considered an asset worth protecting, and it’s best to consider covering your retirement holdings as well. Laws can always change, and you do not want to lose your safety net.

Common assets will be your home, properties owned, vehicles, recreational vehicles, watercraft, furniture, artwork, jewelry, cash, stocks, and other forms of savings and collections. When you speak with an agent regarding policy options, you can review a full range of asset types. 

Should I have an umbrella policy if I have few assets? 

If you work in an industry with a high-risk for a lawsuit, such as communications or law enforcement, many umbrella policies also provide liability protection if you are sued. Whether it’s a libel, false arrest, or slander allegation, this coverage serves as key protection and helps provide a legal defense for you. 

How do I buy an umbrella policy? 

Different insurance companies feature different policy terms. It is common to require "maxed out" liability on existing policies for automobiles and your home or rental. The umbrella policy then steps in to provide liability coverage in various increments — typically of $1 million. 

Still have questions?

Young Insurance Associates Inc serving Raleigh, NC has answers, and we’re ready to take a call to discuss coverage options with you.

Does RV Insurance Cover Interior Appliances?

Regardless of the type of vehicle, there’s insurance coverage to provide protection, and RVs are no exception. There is a special type of insurance specifically designed to protect RVs from risks both on and off the road. Those who are interested in purchasing RV insurance may wonder if that protection also extends to any interior appliances.

RV Insurance Protection

Each RV insurance policy is different, so it’s important to understand the terms and conditions before making a policy purchase. Some companies, however, will offer coverage for appliances through collision and comprehensive coverage. The best way to ensure you get complete protection is to work with an agent and specify what type and level of protection you need to feel completely covered. 

Let An Agency Help

A reputable insurance agent will be able to guide clients through the selection process and enable them to get RV insurance that will provide peace of mind wherever they travel. An RV is a large purchase that can hold value equal to a home, which is why getting the right level of coverage is so important. If there is a covered event, having complete coverage will minimize losses. The agents at Young Insurance Associates Inc, serving Raleigh, NC are there to assist RV owners with the insurance selection process. They can offer sensible solutions and answer any questions that they may have.

Get the RV insurance coverage you need to feel secure on and off the road and for any additional appliances or personal belongings inside the RV. Call or stop by Young Insurance Associates Inc and let them help you get the protection you can count on if you live in or near the Raleigh, NC area. 

Can Renters Insurance Help Me Pay for a Lawsuit?

When you live in an apartment or rented home, you’re responsible for the safety of your guests. But not everyone realizes this when they sign their first (or even their fifth) lease. They may assume that friends, family members, and neighborhood staples (e.g., postal workers, etc.) are all responsible for their own property and well-being. If you live in Raleigh, NC and want to know more about liability though, Young Insurance Associates Inc doesn’t want you to be caught unawares. 

Liability and You 

There are a variety of incidents that can happen in a rented space, including falls, slips, and property damage. Maybe your child spills their chocolate milk over your friend’s laptop, or they leave out a toy car in the hallways only to cause a vicious fall halfway through the visit. You may not think that a friend or family member would hold you responsible for this, but consider just how financially devastating one incident can be for the other person. This can lead to demands that only insurance can cover. 

Renters Insurance 

In the case of a covered event, renters insurance will help you either settle a liability charge or defend yourself if you believe you weren’t at fault. A lawsuit can be complicated for renters, especially if it takes weeks or months to settle. In the case of a complex claim, renters insurance gives you the coverage you need so you can stay afloat during a crucial time. 

Young Insurance Associates Inc doesn’t want anyone in Raleigh, NC to make the wrong assumptions when it comes to their personal responsibility. If you want to learn more about how you can protect yourself, we’re here to answer your questions and help you find a policy that will ensure you sleep at night. 

Why you need motorcycle insurance in Raleigh

When someone is looking for a new place to live, the Raleigh, NC area is often a popular option due to the great local economy and good weather. For those that want to enjoy the weather, getting a motorcycle as a mode of transportation could be a great option. If you do purchase a motorcycle, it is important that you get all the proper insurance in place. There are a few reasons why a Raleigh motorcycle owner needs insurance. 

Complies with Legal Requirements

One reason why someone in Raleigh, NC needs to have motorcycle insurance is that it will allow them to comply with the legal requirements. Anyone that operates a motorcycle at any time is taking on the risk that they could be found at fault in an accident. If this occurs, you may have to pay a lot of money to pay restitution. Due to this risk, the state of North Carolina will require someone to carry motorcycle insurance at all times to give liability coverage.

Lender Requirements

Beyond having the minimum level of liability insurance, all people in North Carolina need to consider requirements set forth by their lender. If you have a loan out against your motorcycle, the lender will require that you have a full comprehensive and collision policy. This is important for a lender because it provides assurances that their collateral will be properly protected.

There are many reasons why someone needs to get motorcycle insurance for their Raleigh motorcycle. If you would like to get motorcycle insurance coverage, you should call Young Insurance Associates Inc as soon as you can. When you call Young Insurance Associates Inc, you can get more tips and insight necessary to choose a quality insurance policy. This will ensure that you are properly protected. 

How Much Condo Insurance Do You Need?

If you plan to lease or own a condo, you should begin the process of finding good condo insurance coverage. The master policy that the building carries only protects the structure, minus the walls and interior of the condo in most cases. Find out what the master policy covers and then begin the process of shopping for your condo policy.

Condo Insurance

If you are searching for adequate condo insurance, you must first know how much the condo is valued at, and then have a solid figure related to your belongings inside. You may, in some cases, opt for additional coverages if you have valuable items inside. Work closely with an insurance agent to help you determine how much coverage you need, as well as if there are any insurance additions or policies that would more completely protect you from losses. 

Quality Condo Insurance

You need to find condo insurance that is reliable and can be arranged to fit your needs. Your insurance agent can help you decide which options fit those needs and explain the terms and conditions to you so you are making an informed purchase. Those who live near Raleigh, NC, can depend on the agents at Young Insurance Associates Inc to help them make sense of the available options and find options that provide complete coverage. 

The key is to have enough coverage to avoid gaps and possible losses if there is a covered event. Call or stop by Young Insurance Associates, serving Raleigh, NC, today to find out more about how to calculate your condo insurance needs, as well as which policies work for you. 

How Much Renter’s Insurance Do I Need?

Renter’s insurance is very affordable and important to have. It doesn’t just cover your possessions, it protects you from liability as well. If you need renter’s insurance in Raleigh, NC, contact us at Young Insurance Associates Inc.

What are Your Valuables Worth?

Don’t just guess what the contents of your apartment are worth. Conduct a home inventory. You’ll make a list of everything valuable, and how much it would cost to replace it. If you have particularly valuable items like art or jewelry, you’ll need to check your policy’s individual coverage limits. Many policies have a specific limit on jewelry, electronics, and art. A home inventory is useful for selecting a coverage amount and in case you ever need to make a claim. Be sure that your coverage limits equal or exceed the cost of your possessions. 

Liability Coverage

Renter’s insurance also covers liability. If someone slips on your floor and breaks their leg, for example, you can be held legally liable for damages and medical expenses. Most policies have a separate limit for medical expenses and one for legal liability. If your home or living situation is riskier than most, you may want to choose a higher limit. Swimming pools, garages with power tools, and living on a steep slope are examples of situations where the risk of guest injury is higher. 

You should also consider what you can afford to pay in this situation (could you cover the medical bills and liability) and whether you would be at risk of losing valuable assets if you failed to pay. 

Displacement Coverage

If your residence is damaged in some way and you have to relocate temporarily, many policies will cover these living expenses. This is particularly important if you are on a tight budget and can’t afford a lengthy motel stay while your home is being repaired. Consider getting enough coverage for a few months of living expenses.

If you are renting in Raleigh, NC, Young Insurance Associates Inc can provide you with an insurance policy that fits your needs. We will be glad to talk to you about your situation and help you determine the right coverage limits. Contact us today for more information!