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Charlotte, NC 28207

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Hausmann Insurance & Financial Services Blog

What are the Different Types of Life Insurance?

The agents at Hausmann Insurance & Financial Services serving the Charlotte and Waxhaw, NC areas want you to know that there is a certain amount of peace of mind that comes with knowing your loved ones are financially protected when you pass away. This is the main reason why a life insurance policy is important to have in place since it is designed to provide financial support to your beneficiaries in the event of your death.

There are various types of life insurance policies available that you can choose from that fit with the specific needs and goals of you and your family.

Main Types of Life Insurance Policies

Universal Life Insurance

This type of policy offers the flexibility to adjust the premium payments and death benefits over time.  This means you can increase or decrease the coverage amount and premium payments to suit your and your family’s changing needs.

Term Life Insurance

Term life insurance only provides coverage for a specific amount of time that is designated in the term policy. This can range anywhere from 1 to 30 years or more. If your policy expires while you’re still alive, though, you will have to start a new policy.

Whole Life Insurance

Whole life insurance policies seem to be the most popular choice since you can borrow money against the cash value of the policy while you are still alive. This means you can pay off major bills ahead of time, including your mortgage or vehicle payments. This will help your family out after your death since they will not have the added stress of trying to pay these types of bills.

Contact Us Today

To create the best life insurance policy for you and your family, you need to contact an experienced and knowledgeable agent when it comes to life insurance. Call the life insurance agents at Hausmann Insurance & Financial Services serving the Charlotte and Waxhaw, NC areas today to get your policy started!

Things to Look for When Buying Renter’s Insurance

Renter’s insurance is one of the most affordable types of insurance. However, it can save you extraordinary amounts of money, time, and headaches should something happen. Generally, three categories are covered: liability, contents, and additional living costs. When shopping for renter’s insurance in the Charlotte and Waxhaw, NC areas, there are a variety of details to look out for.

Below are some of the most common ones:

Items Your Coverage Excludes

When disaster strikes, the last thing you want is to learn that your policy doesn’t cover your priceless paintings or family heirlooms. It’s vital that you take the time to ensure that the renter’s insurance you purchase is able to cover everything you may need by asking for a list of items that the policy excludes.

Whether or Not You Can Afford Your Deductible

Deductibles are an often overlooked part of buying insurance. In most cases, a higher deductible can lower your monthly premium. But when faced with a loss, you may be looking at a significant out-of-pocket expense before you can claim the remaining losses. This might not be feasible depending on your finances.

Coverage That Includes Events in Your Area

If you live in an area prone to natural disasters, it’s crucial to ensure that your renter’s insurance policy covers those disasters. For instance, if you live in a flood-prone area and your policy excludes flood damage, you’ll need to make sure you are prepared to cover the costs in other ways.

Hausmann Insurance & Financial Services is Here To Help!

Here at Hausmann Insurance & Financial Services, we strive to help those in the Charlotte and Waxhaw, NC areas find the renter’s insurance that they need at a price they can afford. Give us a call today to learn more about our services and get started!

4 Tips on Driving Safely in Wet Weather

About 73% of weather-related crashes happen on wet pavement, according to Federal Highway Administration statistics. The team at Hausmann Insurance & Financial Services wants you to stay safe when driving in Charlotte and Waxhaw, NC. So, we compiled the following driving tips that may reduce your risk when driving in the rain.

4 Tips on Driving Safely in Wet Weather

1. Slow as You Go

By pumping on the brakes and maintaining distance behind other vehicles, you give yourself more room to maneuver on slippery roads. This also decreases your chance of hydroplaning. Remain extra alert of the distance between you and the car ahead and remain alert at red lights and stop signs.

2. Carefully Choosing and Maintaining Tires

Remember to consider safety as well as price when you purchase tires. In order to avoid hydroplaning, choose tires with rubber compounds and treads designed to work well in wet weather. Check your treads. Once the tread wears down to 1/16 of an inch, it’s time for new tires. Additionally, refer to your owner’s manual for the appropriate air pressure and keep your tires properly inflated.

3. Avoid Hydroplaning

Reduce your speed when you see standing water on the road. If you begin to hydroplane or ride on the water surface, remove your foot from the accelerator. It’s important that you don’t immediately hit the brakes. For manual transmission, push in the clutch to let the vehicle slow down enough so that you can regain control. 

4. Check Your Wipers

When was the last time you checked your wiper blades? It’s important to clean your wiper blades and replace them as needed to retain visibility in wet conditions. If the wiper blades stutter on the windshield or fail to clear away rainwater adequately, it’s time to change them.

Reach Out To Us

Contact Hausmann Insurance & Financial Services for more safe driving tips and to review your auto insurance coverage in Charlotte and Waxhaw, NC.

Tips for bringing your motor home to a national park

Traveling in a motorhome is an amazing way to explore the great outdoors. National Parks offer fantastic views, activities, and wildlife that make for an unforgettable experience. But with the added complexity of a motorhome, there are some special considerations from us at Hausmann Insurance & Financial Services you should keep in mind before hitting the road. We are happy to serve Charlotte and Waxhaw, NC residents with motorhome insurance. 

Here are some tips for bringing your motorhome to a national park: 

1. Make sure you have all your necessary supplies. Bring extra supplies like water, food, gas, and tools just in case something unexpected comes up while on the road. 

2. Do some research ahead of time on any special regulations or restrictions pertaining to motorhomes at the national park you’re visiting. This could include restrictions on the length or types of vehicles allowed, campsite availability, and more. 

3. Prepare your vehicle for the journey by checking fluids (oil, coolant), lights/signals, brakes, wheel alignment, and tire pressures — especially if it’s been a while since your last trip! 

4. Get familiar with the weather conditions at your destination and pack appropriately for the climate (shorts and sandals won’t do much good in a snowy mountain pass!). 

5. Consider joining a camping club such as Good Sam or Escapees which offers discounts at various parks. 

6. Don’t forget to pack entertainment! Movies and books can help pass the time while traveling long distances between destinations or during inclement weather when you can’t get out and explore nature in person! 

Get Motorhome Insurance Today

Exploring nature in a motorhome is an unforgettable experience that allows you to truly immerse yourself in nature’s beauty. With proper planning and preparation, you can ensure that your next outing is one for the memory books. For more tips, call us at Hausmann Insurance & Financial Services today. We proudly serve the Charlotte and Waxhaw, NC areas.

Benefits of Boat Insurance

At Hausmann Insurance & Financial Services, we serve our North Carolina clients with boat insurance, and we often get asked about its benefits. 

Why Boat Insurance?

Charlotte and Waxhaw, NC residents are not required by law to carry boat insurance, however, if you carry a balance, your lender will most likely compel you to purchase indemnification. In addition, many marinas and docks require proof of coverage to use their resources. 

Another benefit to having boat insurance is that your guests may be protected in the event they are injured and have medical costs or lost wages. They may also suffer property damage or loss, and you could be the target of a lawsuit. 

Your boat may also be affected by vandals who take specialty equipment or accessories and for which you can take an inventory ahead of time to document key details, such as price paid, receipts, and condition. Speak to your Hausmann Insurance & Financial Services agent for information on customized coverage for your upgrades. 

In the event that you collide with another vessel, your boat insurance will help you fulfill your responsibility to pay for any property damage, medical expenses, and resulting legal fees. 

There are other perils your boat may face, such as the dangers that occur during transport over land. When your watercraft is parked in your driveway, it can also be subject to the elements, such as falling tree branches, ice, and extreme temperatures. While in storage, your vessel may be affected by issues such as pest infestations, rot, mold, water damage, or fires engulfing the unit. 

Give Us A Call

Hausmann Insurance & Financial Services can help you find the specialized insurance products and services that you need to ensure you are well-protected in every facet of life. We invite you to reach out to us for more details, and we are available by phone, online, or in-person meetings, serving those in and around Charlotte and Waxhaw, NC. 

How is condo insurance different from renter’s or homeowner’s insurance?

Hausmann Insurance & Financial Services is happy to assist Charlotte and Waxhaw, NC residents with all their insurance requirements, including condo insurance. Here are some of the common questions we encounter when condo owners are trying to decide on the best coverage for their needs. 

What is condo insurance?

Condo insurance is insurance that covers the inside structure of the condo and the owner’s belongings that are inside the condo. There is a type of insurance that the complex carries, called the condo association or HOA master policy. This includes both the exterior and the common areas of the entire complex.

The type of condo insurance that you will need as a condo owner will depend on the type of insurance coverage that the master policy has. Condo insurance includes dwelling coverage, medical expenses, liability coverage, personal property coverage, and loss of use coverage.

How does condo insurance differ from renter’s insurance?

Condo insurance is very different from renter’s insurance. Renter’s insurance covers the belongings of the renter and liability if something happens. Condo insurance covers the inside structure of the condo. If the owner is living in the condo instead of renting it out, it takes care of personal belongings. If the owner with condo insurance is renting it out, then it only takes care of the inside structure, and whatever appliances or furniture are included in the rental.

How is condo insurance different from homeowner’s insurance?

Condo insurance is similar to but different from condo insurance. Condo insurance covers the inside structure and liability in case someone gets hurt, or their personal property gets damaged. Homeowner’s insurance covers outside structures, personal property, liability, and the inner and outer structures. Condo insurance is cheaper than homeowner’s insurance because it does not protect the whole structure.

Contact Us Today

There are many similarities and differences between condo insurance, renter’s insurance, and homeowner’s insurance. For more information, contact us at Hausmann Insurance & Financial Services located in Charlotte and Waxhaw, NC.

Three ways your family can benefit from life insurance coverage

If you want your family in Charlotte or Waxhaw, NC to be financially secure, one of the most important financial products you need is life insurance. Our life insurance policies at Hausmann Insurance & Financial Services can help you to meet your family’s needs even if you pass away unexpectedly and your family loses your income.

The following are three ways your family can benefit from life insurance coverage

Life insurance coverage provides financial support for your dependent family members if you pass away

If you are the major breadwinner for your family, your dependents won’t have enough financial support to maintain their lifestyle if you’re not there. Life insurance coverage can, fortunately, allow your family members to receive funds through a death benefit that will financially support them in the event of your untimely death. 

Life insurance can cover your funeral and burial costs so that your family members don’t have to foot the bill

Life insurance coverage isn’t just used to financially support surviving family members. Life insurance can also be used to cover one’s burial and funeral costs so that these costs don’t create a financial burden for an individual’s surviving family. 

Life insurance coverage gives your dependent family members more peace of mind about the future

Worrying about the future can be a source of stress. When you carry life insurance, both you and your family members can enjoy the peace of mind of knowing that you’ve planned ahead for future uncertainties. 

Contact Us Today

Hausmann Insurance & Financial Services is here to provide residents in Charlotte and Waxhaw, NC with a quote on life insurance coverage for you and your family. Give us a call to learn more about our policy options and get a quote on life insurance. 

What to do if your dog is in the car during an accident

Accidents are unpredictable and often happen when we least expect them. If you’re involved in a car accident in Charlotte or Waxhaw NC, and your dog is with you, it’s important to know what to do next. Here are some tips from Hausmann Insurance & Financial Services.

What to Do if Your Dog is Injured in a Car Accident

If you’re involved in a car accident, and your dog is injured, the first thing you should do is seek veterinary care. Even if your dog seems fine, it’s always best to err on the side of caution and have him checked out by a professional. Once you’re at the vet, be sure to tell them that your dog was involved in an accident so they can perform any necessary tests or x-rays.

Will My Auto Insurance Cover My Dog’s Vet Bills?

If you have comprehensive auto insurance, your policy may cover your dog’s vet bills if he was injured in a car accident. However, it’s always best to check with your insurance company beforehand to see if they provide coverage for pets. Some companies exclude pets from their policies altogether, so it’s important to know what your policy covers before you need to make a claim.

Contact Us Today

If you are in a car accident and your dog is with you, seek veterinary care in Charlotte or Waxhaw, NC as soon as possible and tell them that your dog was involved in an accident. If you have comprehensive auto insurance, there’s a good chance that your policy will cover your dog’s vet bills—but it’s always best to check with Hausmann Insurance & Financial Services beforehand just to be sure.

What’s covered by North Carolina renters’ insurance?

Rental prices have continued to rise nationwide, leading renters to search out the smartest solution to help stretch their budgets. One of these solutions is to find affordable coverage for personal property and potential damage so the renter is never left owing unexpected and significant bills. But just what does protection this rental insurance actually provide? Learn more about renters’ insurance policies with Hausmann Insurance & Financial Services, serving the greater Charlotte and Waxhaw, NC communities,  according to the North Carolina Department of Insurance.

What’s covered by North Carolina renters’ insurance?

Personal Property Rental Coverage

Landlords typically insure their building, not your belongings. Don’t risk your personal items from wallet to TV to your favorite art print. Instead, get renters’ coverage to help cover your own items too.

Peril Insurance

We all know weird weather is becoming more and more common. Peril insurance basically protects you from loss and liability due to those "Acts of God" like lightning strikes, flooding, hurricanes, and fire. Peril insurance can even cover things like broken steam pipes, volcanoes, and airplane impacts. It’s important to review peril insurance with a qualified professional. Your unique location in the state may suggest specific insurance that is tailored to you specifically.

Liability and Medical Coverage

If something happens, you don’t want to have to pay for that accident. Personal liability helps protect you against accidents that happen in your unit to people who don’t live there or because of damage to that person’s property. Medical coverage of this nature can help cover potentially expensive medical bills in the event of an accident such as a trip and a fall on the stairs.

Get Renters’ Coverage Today

For more about renters’ insurance policies and how to protect your investment, contact Hausmann Insurance & Financial Services, serving Charlotte and Waxhaw, NC, for a quote today.

Do I need motorhome insurance if I only use my motorhome once a year?

Motorhome owners are required to purchase motorhome insurance regardless of how frequently they use it. Like vehicle owners, motorhome owners are legally required to carry liability insurance. RV insurance provides liability coverage for motorhome owners. Hausmann Insurance & Financial Services provides RV insurance for their Charlotte and Waxhaw, NC customers.

We can help you get the coverage you need to legally operate your motorhome

What is RV Insurance?

Technically speaking, an RV is a large vehicle on wheels. An accident involving an RV can cause a lot of damage. As a result, RV owners are required to carry RV insurance that provides liability protection for incidents and accidents when they are at fault. Even if you only operate your RV once a year, you are required to carry insurance to legally drive it. 

An RV insurance policy can also pay for the repair or replacement of your RV or motorhome. You have many coverage options available to you as an RV owner. However, liability is the only legally required coverage. If you’re financing your RV, your financer will likely require you to carry full coverage RV insurance. However, keep in mind that only motorhomes or motorized recreational vehicles require insurance. If you own a travel trailer, your auto insurance will cover your travel trailer. 

You Have Coverage Options

Although liability coverage is required to operate all motorized RVs, you can still choose other options based on how frequently you use your RV. Our team at Hausmann Insurance & Financial Services can help Charlotte and Waxhaw NC residents get the coverage that fits their unique situations. Motorhome owners can choose from;

  • Liability 
  • Collision 
  • Comprehensive 
  • Uninsured/underinsured motorist
  • RV towing insurance

Like auto insurance, RV insurance provides liability protection as well as protection from loss if your motorhome is damaged. Many people would be unable to pay out-of-pocket costs to repair damage to your motorhome or other costs for an accident where you’re at fault.

Contact Us Today

If you have questions about RV insurance, call us. We want to help you to get the coverage you need. Consult with us at Hausmann Insurance & Financial Services serving the greater Charlotte and Waxhaw, NC communities for expert insurance guidance.