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Hausmann Insurance & Financial Services Blog

What Boat Insurance Covers

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While you enjoy the lakes and coast of North Carolina, Hausmann Insurance & Financial Services, serving the Charlotte metro area, wants you to understand why you need boat insurance. Your boat in Waxhaw, NC could sustain damage while on the water, in the marina, on the road to the water, or to dry-dock. Your boat insurance policy protects it in all of those situations.

The same boat policy that provides you with property damage protection also provides you with liability coverage. Liability insurance pays if you cause an accident that hurts another person or their property. If you hurt an individual while operating your boat or an individual hurts himself while operating the boat, your liability insurance pays their medical bills. It also covers any court settlement that arises from the injury.

A boat policy contains a few types of insurance. It contains a liability policy, collision, comprehensive, and property damage coverages.
You probably think that makes it sound like an auto policy, and it does. It provides the same types of protection. The collision component covers accidents with collisions on the water or road, though.

Most states do not require boat insurance, but you need it all the same. The only protection your home insurance provides is the liability, which typically equals ten to twenty percent of the home value. That can quickly erode when an accident occurs since the average hospital stay costs $15,000. The home policy also provides little property damage coverage for the boat. Could you financially withstand having to purchase a replacement boat? If the answer is no, you need boat insurance.

Contact Hausmann Insurance & Financial Services to learn more about boat coverage and other watercraft insurance. Although we’re located in Waxhaw, NC, we serve the Charlotte metro area.

What does condo insurance cover

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Owning a condo is a little different than owning a freestanding house. While you own your unit, the exterior is maintained and insured by the HOA with a master policy. It covers things like your siding and roof and the common areas you share with other owners. This puts less liability on you but exactly how much can differ from HOA to HOA. Before getting your condo insurance, familiarize yourself with the coverage provided by the master policy. At Hausmann Insurance & Financial Services in Charlotte and Waxhaw, NC, we offer service to our customers in both English and Spanish, and our experienced team always puts your needs first. 

Building

While condo insurance doesn’t cover the exterior of the building, it does cover fixtures on the inside, such as kitchen cabinets, built-in bookcases, bathroom fixtures, lighting, and permanent flooring. When figuring the amount of insurance you need to cover these, any upgrades you have made from builders grade should be considered. 

Contents

Everyone has a lot more content than they realize. Imagine if you had to replace everything you own. When it comes to content coverage, you have two options replacement cost or actual value. Replacement cost is more expensive, but it will actually give you the money you would need to replace something you had at today’s price, not at its depreciated price. 

Loss of use

If a covered peril damages your condo, you may not be able to live in it. While it is being repaired, you will need a place to stay. Loss of use coverage will allow you to go to a hotel and then a rental for an extended stay. It can make a big difference so check your policy for the amount and limits of this coverage. 

Contact Hausmann Insurance & Financial Services in Charlotte and Waxhaw, NC if you have condo insurance needs or questions. 

Protect Your Family with Life Insurance

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What Life Insurance is right for you?

Financial planning is probably not at the top of your to-do list, but we all know how critical it is to create a plan. Part of a complete financial plan should include life insurance. If you’re the primary breadwinner and an accident occurs that causes you to be unable to take care of your family financially, life insurance could then step in and help your family make ends meet. There are several various plans of life insurance plans available. An insurance professional at Hausmann Insurance & Financial Services will take the time to go over the available options with you to help you find a policy that may work for your situation. Hausmann Insurance & Financial Services serves the Charlotte and Waxhaw, NC community and is ready to help you navigate life insurance plans available to you and your family.

Don’t leave your family out in the cold.

Life insurance plans are available in many forms. The two main policies people tend to purchase are Permanent Life and Term Life. Term life covers a specified length of time, generally in 10, 20, or 30-year lengths. If you die within the coverage period of your plan, your beneficiaries will be paid. If you don’t use the policy before it expires, you can purchase into another program or switch to a Permanent Life plan. Permanent Life usually has a higher associated cost, though it offers more features. 

What are your options? 

When you decide that it’s time to look at life insurance options, the agents at Hausmann Insurance & Financial Services are ready to help you through the various plans and make the process as easy as possible. If you’re in the Charlotte and Waxhaw, NC community, stop by the office. If not, give us a call today.

Does Auto Insurance Cover Items in the Vehicle?

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For many people, having good auto insurance comes down to whether they have an agent they can trust to get them the right policy. It’s pretty easy to sign up for coverage, but it’s more difficult to get the right policy for your needs. If you’re in the Waxhaw, NC area or near Charlotte, reach out to us today at Hausmann Insurance & Financial Services. By doing that, you can get the vehicle insurance you need to have the protection you’re looking for. You don’t have to settle for a policy that doesn’t give you good coverage or one where you don’t get your questions answered. We can help you avoid all of that and get the coverage you need.

A good policy may cover the items that are in the car, as well as the car itself. But you’ll need to make sure the policy you have is the right one for your needs and goals. They may not all be right for you, and you want to protect your vehicle properly. If you choose the coverage that doesn’t work for you, you’ll end up without any type of security for the things that matter most. You could also end up with policy options that are well more than you’re looking for, which doesn’t really help you protect your vehicle correctly.

When you’re in the Charlotte area or in or around Waxhaw, NC, reach out to Hausmann Insurance & Financial Services for your auto insurance needs. Then you can have peace of mind and feel confident that you’re getting a policy that’s covering what you need and not adding what you’re not looking for. That’s a great way to have the right policy for your vehicle and can keep you enjoying your time on the road for years to come.

Three things you may not be aware of regarding commercial insurance

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Business owners in Charlotte, NC must protect their companies with commercial insurance coverage. At Hausmann Insurance & Financial Services, we offer commercial insurance policies to area business owners.

As a business owner, you should be aware of the following three things regarding commercial insurance.

The costs of commercial insurance premiums are deductible as business expenses. 

Although commercial insurance coverage will cost your company money, it is also a deductible business expense. This means that commercial insurance premiums can help to bring down your company’s tax liability.

Simultaneously, your commercial insurance coverage will protect your company from financial issues like lawsuits and certain events leading to unexpected loss of business income. 

Commercial insurance is required by law in numerous situations. 

Depending on the makeup of your company, you may be required to invest in some types of commercial insurance. For example, you need to purchase commercial auto insurance or vehicle insurance if vehicles are part of your company’s operations. You also may need to buy unemployment and disability insurance if your company hires employees. 

There are many different types of commercial insurance available. 

Commercial insurance coverage includes a lot of different types of insurance designed for businesses. The various types of commercial insurance available include business liability, property, workers’ compensation, and malpractice insurance.

It would be best if you researched all these different types of insurance. Then, you need to determine which of these types of insurance your company needs. You can discuss your company’s needs with a representative from your insurance provider for advice and tips. 

If you’d like to explore our commercial insurance policy offerings in Charlotte, NC, contact us at Hausmann Insurance & Financial Services. 

Three home insurance add-ons to consider

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If you’re on the market for a home insurance policy in Charlotte, NC, you have a lot of decisions to make. One of the issues you’re going to have to decide on for your policy is what add-ons you want to your standard policy coverage. 

The following are three home insurance add-ons to consider if you’re purchasing home insurance from a provider like us at Hausmann Insurance & Financial Services.

Sewer backup coverage

A sewer backup can cause extensive damage to a home. At the same time, coverage for such damage is not always included in a standard home insurance policy. Therefore, sewer backup coverage is a type of add-on coverage that you should consider when you purchase home insurance. 

Flood damage coverage

Homeowners need to understand that many standard home insurance policies don’t offer coverage for flood damage. This type of coverage must be added on. 

If you live in a part of the country that is prone to flooding, flood damage coverage is essential. You need to look into flood damage coverage options and invest in add-on coverage for floods so that this type of damage doesn’t cause severe financial burdens for you and your household. 

Watercraft endorsement coverage

If you own a boat that you store on your property, you might want to consider adding a watercraft endorsement to your policy. This endorsement means that damage to your boat will be covered. This coverage can also include any liability expense you experience that will pay for damage your boat might cause during use. 

Do your research to find the right home insurance policy in Charlotte, NC. At Hausmann Insurance & Financial Services, we’re here to help. Get in touch with us to learn more about our policy offerings. 

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