Hausmann Insurance & Financial Services

2313 Randolph Rd
Charlotte, NC 28207

Get Directions
Hausmann Insurance & Financial Services Blog

Why College Students Need Renters Insurance

Going to college can be an exciting time. You can finally go off on your own and live your life. However, with that comes responsibility. You have to find a place to live and start acting like an adult. 

Part of that includes getting insurance. Here are some reasons why you should think about renter’s insurance. 

Your landlord may require it. If you live off of campus, your landlord may require you to have renter’s insurance to protect you (and him or her). 

It will protect your belongings. Many college students take everything they own with them when they go to school. This may include plenty of clothing, computers, printers, cell phones, and many other possessions that they can’t live without. If anything is stolen or damaged due to theft, fire, storms, and other disasters, renter’s insurance will cover these costs. That being said, if you have a lot of expensive pieces, you may need additional coverage. 

It also covers liability. If someone gets injured when they come to your apartment, you could be held liable for their medical bills. This can quickly add up, so you should have insurance to help pay for these expenses. If someone keeps something at your place, and it gets damaged, it will also cover those costs. 

Renter’s insurance will cover emergency housing. If your rental gets damaged, and you can’t live there for an extended period of time, your renter’s insurance will cover the costs of relocating until you can move back in. 

If you are unsure about whether or not you need renter’s insurance, don’t hesitate to contact us today at Hausmann Insurance & Financial Services serving Charlotte and Waxhaw, NC. 

What auto insurance is required in Charlotte & Waxhaw, NC?

Auto insurance isn’t an option. It’s the law.

Like most states, North Carolina has specific auto insurance requirements. When it comes to accountability for an accident, it’s an "at-fault state." That means you may be on the hook for damages if you’re found responsible for an accident. Having inadequate coverage can leave you at risk.

Fortunately, Hausmann Insurance & Financial Services can help. Here are the three necessary items that any auto insurance policy must include.

Bodily injury liability

North Carolina mandates liability coverage for all drivers. Bodily injury liability is the first part of this protection. As the name implies, this pays for any physical harm or severe injury that results from a collision caused by you. By law, motorists must carry $30,000 for each person. A total of $60,000 is needed for all people involved in an accident.

Property damage liability

Another component of liability, property damage, covers any destruction to someone else’s property. This most often applies to other vehicles and includes damage to buildings, mailboxes, and other structures. The minimum requirement in North Carolina is $25,000.

Uninsured and underinsured coverage

Auto insurance that contains only the minimum amounts listed above must include uninsured and underinsured coverage. While liability covers other drivers, uninsured and underinsured policies protect you from other drivers with insufficient coverage. In North Carolina, uninsured and underinsured coverage is typically bundled with liability and follows the same minimums. When combined, this is referred to as "30/65/25" protection.

Contact an agent serving Charlotte & Waxhaw, NC.

Auto insurance isn’t just a legal requirement. Hausmann Insurance & Financial Services knows auto insurance protects you, your family, and your assets. Their expert agents can find an auto insurance policy that meets your needs. Schedule an appointment today.

Can You Bundle Your Motor Home Insurance with Other Types of Insurance Policies?

Insurance can be a tricky matter, especially if you require several types of insurance coverage for different things in life. Fortunately, there are some instances when you can bundle your motor home insurance, among other things. You’ll have to discuss your options to do this with an agent at Hausmann Insurance & Financial Services of the greater Charlotte area. 

Bundling Motor Home Insurance – Is It Possible? 

You may wonder if you can bundle your motor home insurance with ease. The truth of the matter is this is not so cut and dry. There are certain policies with which it makes sense to bundle your motor home insurance, including your regular automobile insurance policy. 

In North Carolina, you only need to have liability coverage for your motor home. No other motor home insurance is required by the state. However, it’s in your best interest to think about what you should have for your unique situation. If you need some kind of personal property insurance added to your standard coverage, then you can request this for the most comprehensive insurance package possible. 

Benefits of Bundling Insurance

One of the top benefits of doing this is that you’ll most likely save a decent amount of money overall. Also, you won’t have to go through the hassle of reinstating each different type of insurance on a yearly basis. You can do this all at once for your convenience. 

Motor Home Insurance Made Easy

Here at Hausmann Insurance & Financial Services, we offer a range of insurance types to meet your needs. This includes motor home insurance that you can bundle with some of our other offerings. Contact us using our online form to get a quote today if you’re in the Waxhaw, NC area. 

Can Boat Insurance Cover Older Boats?

With attention, care, and knowledge, a well-made boat can last for centuries. The USS Constitution has been afloat since the 18th century, and you can still walk her deck today. Hausmann Insurance & Financial Services serving Charlotte, NC wants you to know your boating insurance needs so you can be financially confident whether you’re cruising the Atlantic or boating around Lake Norman.

Does Insurance Cover Older Boats? 

In a broad sense, insurance policies may cover just about anything that is not a crime perpetrated by the policyholder. Residents of Waxhaw, NC or the larger Charlotte area do not have to worry directly about the age of the boat. Instead, the split is between smaller boats under 26 feet as boatowners’ policies, with larger boats covered under yacht policies. Like any other insured vehicle, the insurer will assess the condition of the boat and the intended operators when determining the terms of a policy.

Do Older Boats Need Insurance?

Insurance requirements vary between states, but North Carolina residents do not have to carry a minimum level of insurance. Smaller boats may also qualify for limited coverage from a homeowners’ policy. In a financial sense, being in a boating accident without at least minimum liability coverage can be a recipe for disaster.

Check If Your Old Boat Needs Insurance Today

Hausmann Insurance & Financial Services knows that Waxhaw, NC and nearby friends work hard and need to carefully balance costs like insurance premiums with the realities of day-to-day life. Contact us today to find out your options for boat coverage, including ways to prepare your older boat before an insurance inspection.

What Does Condo Insurance Cover?

As a condo owner, you own your unit but not the exterior of your unit. This can create a unique situation in terms of liability. As an owner, you are responsible for protecting the contents and the interior of your unit. As a result, condo insurance is designed to provide this function. This insurance protects the interior of your unit but excludes protection for the exterior of your unit. Hausmann Insurance & Financial Services of Charlotte and Waxhaw, NC is committed to educating our customers.

What is Condo Insurance and What Does it Cover?

Condo insurance is also referred to as HO6 insurance. Condo insurance provides protection for losses and damage to the interior of your condo unit. The protection includes theft, water damage, fire damage, vandalism, and more. Condo insurance covers the things that your HOA insurance doesn’t cover. For example, HOA insurance doesn’t cover the above-listed situations in addition to liability costs. 

What Coverage Does Condo Insurance Include?

Condo insurance can include several specific situations. However, standard coverage items accompany most condo insurance policies. This coverage protects you, your possessions, and the interior of your unit. In specific, condo insurance. In particular, condo insurance includes personal liability, which helps if a guest is injured, or their personal belongings are damaged. Condo insurance includes guest medical coverage as well. Building property protection will pay for damage to your unit’s interior walls. However, personal property coverage covers everything from your electronics to your furniture or clothing. Condo owners also have the option of choosing from several types of personal property coverage. You will be compensated according to the type of personal property coverage you get. Keep in mind that this coverage has limits/ maximums. Your condo insurance can replace items based on current/actual cash value or the replacement cost coverage. This may mean that you are compensated for the depreciated value of your items. Condo insurance coverage for four main areas:

  • Personal Liability Coverage
  • Guest Medical Coverage
  • Building Property Protection
  • Personal Property Coverage

If you have questions about condo insurance, give us a call. Our team at Hausmann Insurance & Financial Services is standing by to answer all of your questions and to help create a condo insurance policy that meets your needs.

North Carolina Life Insurance: The Difference Between Term and Whole Life Insurance

When you are looking for life insurance, you will be faced with the option of term life insurance and whole life insurance. The differences can sound confusing at first.

At Hausmann Insurance & Financial Services, we want Charlotte and Waxhaw, NC residents to get the right life insurance coverage for their needs. 

Learn about the difference between term life insurance and whole life insurance here.

Term Life Insurance

Term life insurance is a simplified life insurance policy that is active for a set number of years, or a term. It could be a five-year term, 10-year term, or 20-year term. 

If you pass on before the term ends, the coverage is paid out in one lump sum to your beneficiary. If the term ends before you pass, you can then convert your policy to more permanent life insurance or renew it depending on your circumstances at the time.

An insurance agent and broker can help you to determine the needs of your beneficiary, and how long your term should be, as well as how much coverage you should have. For example, a $500,000 life insurance policy on a 10-year term would give your beneficiary $50,000 a year to live on for 10 years.

Whole Life Insurance

Whole life insurance is a type of permanent life insurance that does not have a term. It lasts for the rest of your life or as long as you pay premiums on it. Some whole life insurance policies have a cash-value amount, where you can cash out some of your life insurance before you pass away.

Some of your premiums go into a separate account, and after a certain amount of time paying will be eligible to cash that out or withdraw it. You can also borrow against the account.

Get a Quote

When you are purchasing life insurance, you will need to talk to an agent to get the right quote and information on what kind of policy is best for you. Both have their benefits and advantages. At Hausmann Insurance & Financial Services, we want Charlotte and Waxhaw, NC residents to get the right life insurance product for their lives. Call us for a quote today.

Icy Roads and Auto Insurance

Icy roads are not familiar in Charlotte or Waxhaw, NC. However, they can occur and often cause a lot of crashes due to inexperience. We at Hausmann Insurance & Financial Services find that many in this area are not prepared for this situation.

Who’s at Fault in This Crash?

When you crash due to ice on the road, you will be the one at fault. Officers and the law decide this situation based on the idea that you were driving too fast for the conditions. Therefore, even if they did not see you crash, they can safely assume that you were driving too fast because you crashed. 

This is a very clever legal Catch-22 that often makes your insurance kick in if you cause damage or injuries to other people. However, it is vital to understand every element of this situation to ensure that you get the best understanding. 

What Your Insurance Covers 

What your policy covers depends on what kind of coverage you set up. For example, bodily injuries to others that you hit will be covered by your auto insurance policy. And PIP coverage will help to cover any injuries to you or those in your vehicle. 

You may also get payments for damage to your vehicle, damage to other cars or property, towing costs, lost wages, and much more. All of these costs can add up and will be paid up to your policy’s limits. If the overall prices are too high, there may be some issues. 

Help is Available 

If you need help finding an auto insurance policy and you aren’t sure where to turn, contact us at Hausmann Insurance & Financial Services, serving Charlotte and Waxhaw, NC. We’ll do what we can to help protect you from this situation and ensure that you are safe and financially secure.

Is Your Renters Insurance Up to Date?

Getting renters insurance can protect your Charlotte or Waxhaw, NC area rented house or apartment stay safe. However, what happens if your policy is not up to date or if you’ve let it lapse? We’ve seen this happen at Hausmann Insurance & Financial Services, and the results are never good.

What Happens If Your Policy is Not Up to Date?

Your renter’s insurance policy is designed to protect your belongings in a rented home and help when you experience a total loss scenario. For example, if a house burns down, and you’re renting it, the landlord’s home insurance won’t help you. But your renter’s insurance policy will kick in and give you the help that you need to minimize the potential for a total loss that you’d otherwise experience. 

However, if you let your insurance policy lapse or get out of date, you won’t have any coverage on your belongings. Even if your insurance has lapsed a short period, you may have no coverage. Some companies or policies have a grace period after your insurance is out of date, during which it will still cover you. Unfortunately, not all companies provide this option, and you may end up stuck. 

So, how can you tell if your policy is up to date? First, check your insurance paperwork and see when you need to make your next payment. You can also contact your insurance agent and ask them if you are behind in any fees or if you need to upgrade your policy for better coverage.

Help is Available for You 

As you can see, keeping your insurance policy up to date is critical for your overall financial needs. So, if you live in Charlotte or Waxhaw, NC, or the surrounding area and need insurance help, please contact us at Hausmann Insurance & Financial Services right away to learn more about your options here. 

What Does Motorhome Insurance Typically Cover?

Do you own a motorhome or another recreational vehicle? If so, you need RV insurance. Often, such insurance is required by law. Further, insurance will protect you, your family, and your property in case of an accident or another event.

Motorhome insurance covers a lot of things. We’ll take a look at some of the things commonly covered by RV insurance. However, it’s smart to read each individual plan so you know exactly what is and is not covered.

If you have questions, contact Hausmann Insurance & Financial Services which serves Charlotte and Waxhaw, NC and other areas nearby.

Here’s What Motorhome Insurance May Cover

Most states require that vehicles be covered by liability insurance. This insurance will cover damages to other parties. If a motorhome driver rear-ends someone, for example, liability insurance may pay for damages to their vehicle and may also cover medical bills.

Liability insurance is vital for protecting other parties. You may also opt for collision coverage for your own property and to cover your medical bills. If someone sideswipes you and your motorhome topples over, your insurance may pay for the repairs or help you buy a new motorhome. You insurance may cover medical bills resulting from the accident as well.

You can also get comprehensive insurance plans that will cover other events, such as weather damage, vandalism, and theft. Collision and liability insurance typically don’t cover these events. Comprehensive insurance may not cover certain things, such as the theft of personal property inside of your vehicle, so make sure you read the fine print.

If you own a motorhome, you should have the appropriate motorhome insurance plan. Do you need just liability insurance or should you also get comprehensive insurance? It’s wise to speak with an insurance agent.

Reach out to Hausmann Insurance & Financial Services, serving Charlotte and Waxhaw, NC and other local communities, to learn more!

Boating Safety Tips

Going out on the boat can be a fun outdoor activity in Waxhaw, NC. In addition to having fun, it is essential to pay attention and keep yourself and everyone on the boat with you safe. Before you go out and launch your boat, check out these safety tips. Also, give us a call at Hausmann Insurance & Financial Services’ Charlotte to discuss how to protect your boat with an insurance policy. 

Keep Navigation Lights On

When traveling on the water at night, you should keep your navigation lights on. Having your lights on from sunset to sunrise ensures other boats can see you. In addition, keeping the lights on lessens your chance of having an accident with another vessel. 

Do Not Overload the Boat

Check the vessel’s capacity and carry the number of allowed passengers and weight the boat can handle. Overloading the boat can make it slow in the water and could cause it to tilt more to one side or another and possibly capsize it.

Have Life Jackets Available

There should be enough life jackets on board for each passenger to have one. Additionally, young children and those who are not strong swimmers should wear their life jackets at all times while out on the water. 

Check the Emergency Kit

An emergency kit, complete with navigation charts, flares, a first aid kit, and fire extinguishers, should be kept on the boat at all times. Regularly check the emergency kit to ensure everything is there, and nothing has expired. 

Tell Someone Your Boating Plan

Tell someone who is not going out on the boat with you where you plan to be and what time you will return. Then if you do not return, there is someone who can alert the authorities and tell them where to start looking for your boat. 

Before you go out on the water in Waxhaw, NC, call our office at Hausmann Insurance & Financial Services’ Charlotte for details on how to protect your boat.