Independent insurance agency serving the home insurance needs of Goldsboro and all of North Carolina since 2008

Your home is your most valuable asset and an integral part of your daily life. That’s why having the right homeowners insurance policy in North Carolina is so important. If your home were damaged or destroyed, would your policy offer enough protection to get your life back on track?

The cost to rebuild your home is its replacement value. This can be very different from the estimated market value or actual purchase price. In most cases, it costs more to rebuild the home you own than to buy a new one.  It is critical that you provide us with accurate, updated information about your home and contents. If your dwelling limit accurately reflects your home’s true replacement cost, some companies will pay more than the limit if a covered loss is greater than the limit on your policy.

Once a review of your home and possessions indicates you are properly insured, it’s a good idea to reexamine your coverages and limits from time to time, especially whenever you make additions or improvements. 

Waynesborough Insurance of Goldsboro, NC can help you find a homeowners insurance policy that will offer you the protection you need at a price you can afford.
 

Homeowners insurance offers financial protection if you suffer a loss to your home due to fire, theft, vandalism, or other covered event. In addition to providing protection for your home, the right policy will also cover you in the event someone is injured while on your property and wins a legal judgment against you.


The amount you pay for homeowners insurance in North Carolina will depend on several factors, including:
 

• The coverage's you select. In most cases, coverage options for home insurance are priced individually, so how much you’ll pay for your policy depends on what coverage's you select.

 

• How much you want to cover. The amount you pay is heavily influenced by the estimated replacement cost of your home.

 

• Your deductible. Higher deductibles usually lower your premium price by shifting part of the loss payment to you. For example, if you have a $1,000 deductible, you would be responsible for paying the first $1,000 of a covered loss.

What does homeowners insurance cover?
Every homeowners insurance policy is different, but most policies provide the following coverage's:

Property or Dwelling Coverage
Property or Dwelling Coverage typically pays to repair or rebuild your home if it’s damaged or destroyed by an insured event like a kitchen fire or windstorm.

Personal Liability Coverage
Personal Liability Coverage applies if someone is injured or their property is damaged and you are to blame. The coverage generally applies anywhere in the world.

Medical Coverage
This covers medical expenses for guests if they are injured on your property, and in certain cases covers people who are injured off of your property. It does not cover health care costs for you or other members of your household.

Additional Living Expenses
If you can’t live in your home because of a covered loss, your home insurance policy will pay additional living expenses — commonly for up to 24 months — while damage is assessed and your home is repaired or rebuilt.

Personal Property Coverage
Your home is filled with furniture, clothes, electronics and other items that mean a lot to you. Personal Property Insurance helps replace these items if they are lost, stolen or destroyed as a result of a covered loss.

Every home is unique – talk with us today to find out how to get the best price and value on homeowners insurance in North Carolina.

Here are some steps you can take to reduce the danger of being seriously underinsured:

1) Call Waynesborough Insurace.
If you have questions or concerns about the limits in your policy, ask us to show you how those amounts were calculated. This will also give you an opportunity to make us aware of any overlooked information.

2) Read your policy.
Certain property, such as jewelry, and certain perils, such as earthquake or flood, is better insured separately. Knowing what is covered and for how much will help you insure properly. If there is anything in your policy you don’t understand, contact Waynesborough Insurance and ask for an explanation.

3) Review.
At each annual renewal of your policy, you receive a new Policy Declarations page showing limits of coverage and optional coverages. Review this information. If you do any significant remodeling or add a family room, extra bedroom or bathroom, etc., tell us about these changes so your coverage limits can be adjusted to cover the improvement.

4) Consider
Condier carefully whether your policy provides all the protection you need. Does it provide coverage for extra costs resulting from building code changes? Does it automatically increase coverage limits annually to keep pace with inflation? Does it provide additional funds if the cost of rebuilding your home exceeds the policy limits?


Make sure you know:
 

• Will your insurance company stand behind agreed upon repairs after a claim? Some companies are willing to put this guarantee in writing.

 

• Does your policy include replacement cost coverage for contents (clothing, furniture, appliances, and other personal property inside your home)? If not, you can add it by endorsement. The cost is small, the protection valuable. Replacement Cost Coverage pays for losses to your possessions at the cost of brand new items. Without this option, a covered loss to your personal possessions would be depreciated by their age and condition, reducing the size of your claim settlement.

If you have an art collection, antique furniture, jewelry, or other valuable possessions, talk to your agent about supplemental coverages, such as fine arts or scheduled property endorsements, to adequately protect your investment in these items. The cost is modest for the extra protection, and often the deductible is waived.

Consider whether you should have more coverage for personal property (contents) than your policy provides. Personal property coverage is usually 70% of the coverage limit for the structure. Your limit may be lower than 70%. Supplemental protection is available for a small additional premium.
Inventory your home. Prepare an inventory of personal property items, update it periodically, and keep it in a safe place outside your home, such as a safe deposit box at your bank. It will save you hours of time trying to list everything damaged or destroyed if you need to make a claim. It will also help ensure you don’t forget some items. Waynesborough Insurance can advise you on ways to simplify the job of preparing a personal property inventory such as videotaping each room with descriptive information on the sound track.

Personal Liability

Besides making sure you have enough protection to cover possible damage to your own home and contents, you should also evaluate your exposure to liability risks. These result from damage to the property of another, or injury to a person, not a member of your household, for which you can be responsible.
In recent years it’s become common for homeowners to be sued for injuries or damages to others, even when there is no evidence of negligence by the homeowner. The reality today is if you have any appreciable assets, you are exposed to the risk of being sued. Even if you ultimately prevail in court, your legal fees and the months or years of worry and uncertainty can be a terrible burden on you and your family.

The Personal Liability coverage provided by your Homeowners Policy usually provides a limit of $100,000 or $300,000. We recommend increasing this protection with a personal umbrella policy. Not only will it increase your personal liability, but also your auto liability. Limits are available from $1 million to $10 million and beyond. The cost of this coverage is usually very reasonable.
Keep in mind that North Carolina can require certain minimum levels of coverage.

Every home is unique – talk with us today to find out how to get the best price and value on homeowners insurance in North Carolina.