Insurance Helper Blog




The NC Homeowners Insurance Form Is Changing

After April 1st, every homeowners insurance policy in NC is changing as it renews.  These changes are not dramatic but we think you should understand what is changing on your policy at your next renewal.  Here’s a summary of the changes to this form but as always, we advise that you read your policy carefully.

A sublimit of 10% of your personal property coverage amount will now apply to any personal property located in a storage facility.  This is probably the most significant change and may catch some homeowners by surprise should they have valuable items stored in a storage unit.

A new sublimit of $250 will now apply to antennas, tapes, wires, records, disks, and other media in or upon a motor vehicle.  If you have thousands of CDs in your car, watch out.  Or, consider putting them on a jump drive and listening that way.

The sublimit for business personal property located away from your residence premises is increasing from $500 to $1500.

The theft peril is being modified to provide coverage for Personal Property located in student housing as long as the student has been there in the past 90 days instead of the previous 60 days.

The incidental low power recreational vehicle liability coverage has been modified to expressly exclude motorized scooters used off of your residence premises.  Those of you saving gas by driving scooters to work take note; you will now need to purchase liability coverage for your scooters.

At Clinard Insurance Group, we want every insurance buyer to be an informed consumer.  If you would like help with your home or auto insurance or even your business or life insurance needs, please give us a call at 877-687-7557.


Walnut Cove Improves Protection Class Fire Rating

Walnut Cove Fire Department has managed to improve its protection class rating only a few years after being placed on a one year probation for failing to meet state requirements.  This improved protection class rating will help residents and property owners in the Walnut Cove Fire District lower their property insurance rates.  This new class rating took effect Jan 1st, 2014.

Property insurance, such as homeowners insurance, dwelling fire insurance and even business insurance policies like commercial fire insurance and businessowners insurance all develop their rates from several factors, one important one being the protection class in which the property is located.  Each fire district is assigned a protection class rating from 1 to 10.  The lower the number, the better the fire protection offered by that fire department and thus the lower the property insurance rates will be for property located within that fire district.  These protection class ratings are certified by the state.  In assigning these ratings, the state looks at the fire department’s ability to respond quickly, whether or not they have water available at hydrants or if they have to carry the water on their trucks.  The supporting fire departments in surrounding districts can also help reduce their protection class rating.

In Walnut Cove’s case, they were able to make huge strides in a relatively short period of time to dramatically reduce their protection class ratings.  For those inside the city of Walnut Cove their new protection class rating will drop from an 8 to a 5.  For those within a 5 mile district surrounding the town limits, their new class rating has dropped from a 9 to a 6.  The people of Walnut Cove and in particular their fire department should be proud of this accomplishment and what it means for the safety and protection the people and property in the Walnut Cove Fire District.

If you have property located in the Walnut Cove Fire District, keep an eye on your next property insurance policy renewal.  If you don’t see a reduction in your insurance costs at the next renewal, then I would advise that you contact your agent to be sure that your policy renewed with the new protection class code applied to the rate.  It is easy for insurance companies to miss these changes and you wouldn’t want to miss out on the savings that your fire department has earned for you.

At Clinard Insurance Group, located in Winston Salem, NC, we want all of our clients to be informed insurance consumers.  If you would like help with your auto or home insurance, or your business insurance or even your life insurance, please feel free to call us, toll free, at 877-687-7557.