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Allen Insurance Agency

6835 Jordan Road
Ramseur, NC 27316

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Featured Insurance Blog

Should I Change My Auto Insurance After Paying Off My Vehicle?

It is common to use a bank loan to finance a car purchase in Ramseur, NC. Have you ever wondered what happens once the loan is fully repaid? At Allen Insurance Agency, we often receive this question, so we’ll provide you with a detailed response here.

Updating Your Insurance

The lender will likely impose certain coverage prerequisites if you’ve bought a vehicle with a loan. Until the loan is fully repaid, the bank holds certain entitlements. In the event of vehicle damage resulting in an insurance payout, the bank is usually the first recipient to satisfy the remaining loan balance. Any funds left over would then belong to you.

It’s vital to remember to inform your insurance company once you’ve paid off your loan. They need to be aware that the bank no longer holds an interest in the vehicle, so any future claim payouts are directed to you.

Choosing the Coverage You Want

Furthermore, the insurance guidelines decreed by the bank may not perfectly align with your needs as a vehicle owner. When buying a new vehicle, the bank requires a coverage level that guarantees loan payment.

However, when most vehicle loans are paid in full, the vehicle has often depreciated, and it can be more advantageous to reduce your overall coverage levels.

That’s not to say there are no strict rules. Provided the insurance company knows you don’t owe the bank any money, you can opt for the coverage that you feel suits you best.

For ideal coverage in Ramseur, NC, it’s advisable to consult with your insurance representative. Feel free to contact the Allen Insurance Agency to explore your options and find the perfect policy for your needs.

Do You Need Commercial Insurance?

With the ever-rising costs of everything, it’s no surprise that business owners everywhere are looking for ways to cut expenses. One place you don’t want to cut corners with is your insurance coverage, though. Here at Allen Insurance Agency, serving Ramseur, NC, and the surrounding areas, we want to help you understand how your insurance expenses are an investment. Let’s learn more about commercial insurance and how it can actually help your business.

Do I Need Commercial Insurance?

You need commercial insurance if you’re a business owner in North Carolina. This is your first line of defense against substantial financial hardship. Business owners face a special kind of liability risk when they are providing products or services to the public. Suppose someone is injured or becomes ill because of your product or service or experiences property damage. In that case, you are held directly responsible for that and for all expenses associated with that event. Depending on the severity of the claim and the costs, an event like that could leave your business financially vulnerable. Commercial insurance is necessary to protect against this risk.

What Types of Coverage Do I Need?

Every business is different, so you’ll need to sit with an insurance representative to discuss your particular needs. This professional will be able to make recommendations based on the nature of your business and the risk factors involved to help create a comprehensive policy that provides you with the best possible protection.

Is Commercial Insurance Required By Law?

This depends on the type of business you run. For instance, if you operate vehicles as part of your business, you definitely need coverage. An insurance rep can discuss these details with you when you call.

If you’d like to learn more, please get in touch with us at Allen Insurance Agency, serving Ramseur, NC, and the surrounding areas.

Does Home Insurance Cover Termite Damage?

At Allen Insurance Agency, we help homeowners in Ramseur, NC, protect their homes against damage through homeowners’ insurance. Even all-perils home coverage doesn’t protect against some things that can happen to a home. The dreaded termite invasion falls into this category.

Spotting Termites Early

Most home policies do not cover termite damage because an annual inspection for termites is on the list of homeowner maintenance items. A homeowner should notice the mud tunnels indicating the arrival of termites and phone pest control to have the home treated. The horrific photos of termite damage shown on the Internet have happened over the years, so when damage occurs that erodes the home’s framing, it means the homeowner ignored essential maintenance.

A Free Inspection Can Spot the Problem

Many pest control services offer free termite inspections. Leverage this complimentary check on your home to keep it in top shape. Learn what termite damage looks like so no one can trick you into pesticide spraying that your home doesn’t need.

Termite tunnels may appear on the exterior or interior of a home. Typically gray, within these long corridors, they wander back and forth, gnawing on the wood of your home. Many varieties of termites exist, so you may not immediately recognize the bugs. Every variety builds this tunnel type and eats through the wood.

Contact Us Today

Do you have questions about what your home insurance does cover? Contact Allen Insurance Agency to check your policy’s coverage. If you don’t know the coverage level you bought on your Ramseur, NC, home, let us look it up. Whether you purchase HO-1, -2, -3, -5, or -8 coverage decides which perils the policy does cover. None cover termite damage, but there’s a lot they do cover.

Auto Insurance’s Impact on Public Transit Infrastructure

Auto insurance plays a significant but often overshadowed role in shaping public transit infrastructure. It influences travel behavior, policy decisions, and funding mechanisms. Although auto insurance is primarily associated with individual vehicle owners, its broader implications extend to the development and maintenance of public transit systems. Such networks are vital for sustainable urban mobility in and around Ramseur, NC.

Influencing Travel Behavior

Auto insurance shapes travel decisions, including vehicle ownership, usage, and reliance on public transportation. Higher insurance premiums might encourage individuals to consider alternative means of transportation, like public transport, ridesharing, or biking. This shift helps reduce traffic congestion and greenhouse gas emissions. On the other hand, more affordable rates can promote greater use of personal vehicles, which increases congestion and infrastructure demands.

Backing Transit Infrastructure Funding Mechanisms

Revenue from auto insurance premiums indirectly contributes to funding public transit infrastructure projects. This funding occurs through mechanisms such as vehicle registration fees, fuel taxes, and transportation-related surcharges. These resources finance the construction, operation, and maintenance of transit systems, including light rail, buses, trains, and infrastructure improvements. Therefore, auto insurance indirectly supports the availability and expansion of public transit options for commuters and residents.

Influencing Policy Considerations and Planning

Auto insurance policies and regulations can shape transportation policy considerations and decisions related to urban planning and public transit infrastructure. Policymakers could implement usage-based insurance programs, incentives for shared mobility services and carpooling, or congestion pricing to alleviate traffic congestion and promote sustainable transportation alternatives. Insurance requirements for autonomous vehicles and ride-hailing services also affect how new technologies and mobility solutions integrate into urban public transit networks.

How Allen Insurance Agency Can Assist You

At Allen Insurance Agency, we are prepared to answer any questions concerning auto and other insurance. Proudly serving the Ramseur, NC area, we’re here to help. Contact us today for more information.

Key Things to Know about Commercial Cyber Insurance

Few can manage a business today without computers. Though some companies are more computer-dependent than others, they are vital to today’s business world. They allow us to connect with customers and suppliers across the street or the globe. While that interconnectivity is beneficial, it also brings risk in the form of cybercrime. If you live in or near Ramseur, NC, our team at the Allen Insurance Agency can help protect your company against the financial effects of cybercrime.

How Cyber Insurance Can Protect Your Business

Using computers to steal business information or limit a business’s ability to use its data and computers is the basis of commercial cybercrime. Cybercrime involves:

  • Stealing information.
  • Holding companies for ransom by blocking access to their systems.
  • Other illegal activities involving computers.

Commercial cybercrime insurance must cover multiple issues since many forms of cybercrime exist. These include:

  • First-party loss. It covers your direct losses, including the cost of investigating the attack and informing clients about their stolen data. It also handles lost revenues and potential ransom payments.
  • Third-party/cyber liability. Attacks on your business can lead to harm to others. Cyber liability coverage handles settlements with customers or suppliers for the losses they experience, as well as relevant attorney fees.
  • Errors and omissions. Errors and omissions cover losses incurred when your technology and other products include faulty logic or code.

To obtain cyber insurance, your company may need to take preventive measures, and your premiums may be affected by the measures you have in place.

Allen Insurance Agency, Your Commercial and Personal Insurance Provider 

The Allen Insurance Agency handles clients’ commercial and personal insurance needs throughout the Ramseur NC, area. Call us today at 336-824-4130 or email our team to protect your company and personal assets.

Here’s How Home Insurance Protects Your Family

If you own a home, you’ll want to make sure you take out home insurance. In fact, if you worked with a mortgage lender to buy your home, that lender may actually require that your property be insured. Even when home insurance isn’t required, it’s still crucial to take a policy out because it can reduce risks for your family. If you are looking for a home insurance provider that serves Ramseur, NC and other areas nearby, get in touch with the Allen Insurance Agency.

How Home Insurance Policies Provide Financial Protection

Your home may be your most valuable asset and investment. Certainly, it is a crucial component of your nest egg. Further, your home keeps a roof over your head and provides comfort. Unfortunately, however, homes can be destroyed by many different things, including fires and weather events. Further, even if a home isn’t outright destroyed, any damage incurred can cost a lot to address.

Additionally, homes could be targeted by criminals who break in to steal stuff or cause damage through vandalism and other criminal activities. If you don’t have the right insurance plan, you may have to pay for all of the above and more. What’s covered by insurance plans varies by policy, but the right plan can mitigate many of the above financial risks.

One thing some homeowners forget is that if someone is injured on their property, they may end up having to foot the bill. Some homeowner’s insurance policies will provide coverage for that.

We Are Here To Help

At the end of the day, the right home insurance policy could protect you and your family from financial ruin. Insurance also provides peace of mind for property owners. If you’re looking for an insurance agency serving Ramseur, NC and other areas nearby, contact the Allen Insurance Agency right away to discuss home insurance.

Auto Insurance Protects You When Disaster Strikes: Here’s How

We all know that auto insurance covers you and your car when an accident happens. But did you know that comprehensive auto insurance can help after a natural disaster strikes?

It’s true. Comprehensive coverage from the Allen Insurance Agency can protect you from the financial losses that natural disasters like earthquakes, hurricanes, wildfires, and floods cause. It’s because this type of policy helps you when your car gets damaged because of animal impacts, vandalism, theft, broken glass, and other events where another car wasn’t involved.

What is Comprehensive Insurance?

Think of it as having bad luck coverage for your vehicle in Ramseur, NC. Comprehensive auto insurance is an optional component of your total package. It covers your car when random events like this happen:

  • Someone steals your car keys
  • Someone keys or spray paints your car
  • Garage fire
  • Engine fire
  • Your pet chews the wires in your car
  • Chips or cracks appear on your windows
  • Riots

What It Doesn’t Cover

While comprehensive coverage will protect you from many things, it won’t protect you from everything that happens in Ramseur, NC. Some of the things this type of coverage won’t cover are:

  • Legal fees
  • Wear and tear repairs
  • Loss of income because of an accident
  • Medical treatment and/or injuries
  • Personal property in your car

Comprehensive auto insurance coverage will protect you when disaster strikes. But there is a catch. It’s not possible to buy comprehensive coverage by itself. Most of the time, it’s sold as part of a package deal with collision coverage. Disregard if you’re getting full coverage, as it will come as part of the package.

To learn more about the pros and cons of comprehensive auto coverage, contact our experts at Allen Insurance Agency today. We’re ready, willing, and able to help you make the right auto insurance decision for your needs.

I have a small online business with no employees. Is commercial insurance a wise investment for me?

Commercial or business insurance is designed to protect businesses from unforeseen circumstances as well as protect a business’s assets. Commercial insurance also provides liability protection which can help businesses who are at fault for any number of different issues. However, it’s a common thought for business owners to feel that commercial insurance isn’t necessary. However, if you have assets to protect, commercial insurance could be a wise investment. The team at Allen Insurance Agency is committed to helping Ramseur, NC business owners understand commercial insurance.

What is commercial insurance?

Commercial insurance is business insurance designed to protect businesses from unforeseen circumstances and provide liability protection as well. Even if your business is small, there are assets you should protect. For example, if you use cars to run your business, you can invest in commercial auto insurance. Commercial insurance can be structured to fit the unique needs of your business. 

I have a small online business with no employees. Is commercial insurance a wise investment for me?

Even as a small online business, you benefit from the protection that commercial insurance provides. If you sell products online, commercial insurance can provide liability protection if a product harms a customer. The benefits of commercial insurance are many. Many people would be ill-prepared to pay for a mishap out of pocket. Commercial insurance provides a much-needed safety net for many businesses of all kinds and sizes.

We Are Here To Help

If you have more questions regarding the benefits of commercial insurance, call us at Allen Insurance Agency in Ramseur, NC. We’d be happy to help you explore your options and answer all of your questions. 

Three Ways to Ensure Your Home is Insured Up to Its Value

If you are a homeowner, it would be insane to not have insurance. This is especially true if you have a mortgage. According to the data firm CoreLogic, three out of five homes in the United States aren’t insured up to their total value. Many of them are underinsured by 20%. This would be a disastrous thing to find out if your Ramseur, NC home is damaged in a fire, flood, or some other disaster.

The following are three recommendations from us at Allen Insurance Agency to help you insure your home to its full value. 

Three Ways to Ensure Your Home is Insured Up to Its Value 

1. Review Your Policy Regularly

Don’t just set it and forget it when it comes to your home insurance policy. Review your homeowner’s policy regularly with your insurance representative. Things change all the time when it comes to laws and the value of your home. You should especially check if you have updated your home in any way or if your mortgage changed. 

2. Be Accurate

When you report the dimensions, layout, and different features in your home, be as clear and accurate as possible. You should also be accurate when reporting the valuables in your home as they are covered under most homeowner’s insurance policies. You may be tempted to underreport to keep your premiums low, but it will come back to haunt you in the long run. 

3. Include Any Renovations

Whenever you renovate or remodel a portion of your home, report it to your insurer. This always improves the value of your home and the changes may not be covered if you don’t include it specifically in your premium. Whenever you add a deck, alter your bathroom, or finish your basement, tell your insurance company. 

Schedule A Consultation Today

At Allen Insurance Agency, we are committed to providing complete homeowner’s insurance services to Ramseur, NC residents. Contact us today if you are concerned with your home’s level of coverage.  

What would happen if I do not have a full auto insurance plan?

When you are in the Ramseur, NC area, you will continue to find that owning a car is beneficial. As you are looking to buy a car when in this area, you will also need to think about your insurance needs. There are a lot of things that could happen if you do not get a full auto insurance policy when here. 

You Will Face Financial Consequences

One thing that can happen if you do not carry an auto insurance plan is that you can face financial consequences. If you are involved in an accident, there will be significant costs that can come with paying for restitution. Further, if your car is stolen or damaged in any way, the replacement or repair costs can be high. If you do not carry an auto insurance plan, you will have to cover these costs out of your own pocket. 

Legal Consequences

You could also face some legal challenges if you do not have an auto insurance plan in place. If you want to drive a car legally in North Carolina, you will be required to carry liability insurance. If you do not have this as part of an auto plan, you can be penalized in various ways including having to face fines or lose driving privileges. 

Consult With Us

For those who are looking to get auto insurance when in the Ramseur, NC area, it is always a good idea to get the support and guidance from someone that you can trust. A great group to call when you are here is the Allen Insurance Agency. There are a lot of choices you need to make as you evaluate your insurance options and the Allen Insurance Agency will offer any help that you need to build and create a new policy.