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Tips for Choosing the Right Condo Insurance

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For many, their condo is among their most significant investments, so obtaining the right insurance policy to protect that investment is vital. Below are some tips to help you obtain the coverage that best meets your needs. To get the right policy, consider our Hausmann Insurance & Financial Services team, serving Waxhaw, NC and the greater Charlotte area.

Condo Insurance Considerations

Condo and home insurance have much in common, but their differences may also affect your choices. Among the most important differences and an essential tip is to ensure that your condo policy complements your association’s policy. Your condo policy should differ depending on whether your association policy uses the "walls-in" or "all-in" approach.

Other vital tips for your condo insurance include:

  • Accurately Value Your Belongings: People often underestimate the value of their possessions. Inventory your belongings and get appraisals for jewelry, art, and collectibles to protect yourself adequately.
  • Choose High Deductibles: High deductibles save money, but you must have the cash to cover them when needed.
  • Pay Attention to Exclusions: Standard policies typically do not cover flood and wind damage. North Carolinians should consider upgrading their coverage.
  • Consider Umbrella Coverage: People underestimate their potential liability for accidents in their condo and while driving. Umbrella policies cover both and help you keep your assets even when accidents happen. Umbrella policies can be especially beneficial in protecting retirees’ assets.

Also, obtain a landlord rider if you sometimes rent your condo to others.

Working with Hausmann Insurance & Financial Services

Hausmann Insurance & Financial Services proudly serves Waxhaw, NC and the greater Charlotte area. We will happily work with you to protect your condo and family against unforeseen events. Call us today or visit the office to discuss your condo insurance options.

Three Benefits of Searching for Life Insurance for Elderly Parents

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Searching for the right life insurance is usually challenging.  But finding one that meets your elderly parents’ needs could also take time.  But there are plenty of benefits to searching for one for them.  Our agents at Hausmann Insurance & Financial Services serving Waxhaw, NC and Charlotte are here for you in choosing the right life insurance plan for your aging parents.

Three Benefits Of  Life Insurance

Help Cover the Cost of Their Care

As your parents start to grow older, their health will likely start to decline.  Shop for a quality life insurance plan that will allow you to cover their end-of-life expenses or their medical care.  Having a life insurance plan makes things easier than just saving money in an account or the stock market.  Always consider what you can afford in premiums, the type of policy that meets their needs, and how much coverage they need.

Pay Off Various Debts

What if your parents have a mortgage, college, or any other debt they still have to pay off?  A life insurance plan allows them to be able to pay it off.  Not all parents will arrive at retirement age debt-free.  More than 10 million Americans over the age of 65 had a mortgage in 2021.  Student loans have become a burden for older adults, with many of them being over $126 billion in debt in 2021.

Leave an Inheritance

Establishing a life insurance plan for your parents also involves leaving behind an inheritance for you and your family.  When they’re long gone, the death benefit can cover the costs of their grandchildren going to college.  If they have a specific charity they support, it can be a good way to donate to them after they pass away.

Contact Us For Life Insurance Options

Searching for the right life insurance for your elderly parents doesn’t have to be hard.  You’ll be covering the cost of their medical care, paying off their debts, and leaving behind an inheritance if you consider buying a plan.  Contact our Waxhaw, NC and Charlotte, NC offices at Hausmann Insurance & Financial Services to schedule an appointment today.  

Will renters insurance cover the skates that were stolen from my car?

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Renters insurance provides many benefits to renters. It covers theft, damage, vandalism, and many other situations. Although you don’t own the space you’re renting, you can still protect your personal belongings if unforeseen events take place. Our team at Hausmann Insurance & Financial Services is committed to helping Charlotte and Waxhaw, NC renters get coverage for their personal belongings.

What is Renters Insurance?

Renter’s insurance is designed to protect and cover your personal belongings if they are damaged or stolen. Renters insurance covers your personal belongings in your apartment, condo, and house. The walls and unmovable fixtures/physical structure of your rented space aren’t covered by a renters’ insurance policy, just your personal belongings. Covered events include fires, vandalism, theft, and more. If a pipe bursts in your apartment and damages your furniture, clothing, books, etc., renters insurance will pay for the repair or replacement of any items that can be fixed.

Renters insurance also provides liability coverage. If you invite a friend over and someone is injured during the visit, your renter’s insurance will cover their injuries. Also, if someone’s property is damaged while visiting your home, renters insurance will pay for the damage. Liability coverage will provide coverage for bodily injuries as well as property damage if these incidents take place in your rented space. 

Will renters insurance cover the skates that were stolen from my car?

Yes. Renters insurance will pay for the replacement of your skates if they are stolen from your car while parked at your rental space or somewhere else. You would simply file a claim with your insurance company for the replacement of your stolen skates.

We Are Here To Help

If you have questions about renters insurance and everything that’s covered, call us at Hausmann Insurance & Financial Services serving the greater Charlotte and Waxhaw, NC region. We’d be happy to answer all of your questions. 

Who Needs Comprehensive Auto Insurance?

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Comprehensive auto coverage can help you recover from damage unrelated to colliding with another vehicle. When an animal, weather event, fire, or theft causes damage to your vehicle, comprehensive coverage pays to fix or replace it. If you own your car, you can still benefit from comprehensive coverage. In many cases, your lender will require you to carry it. At Hausmann Insurance & Financial Services, our agents can help you obtain comprehensive auto insurance in Charlotte and Waxhaw, NC.

What Is Comprehensive Auto Insurance?

Comprehensive coverage handles damage unrelated to vehicular collisions. That may include fixing your car after an animal runs into it or falling tree limbs damaging your vehicle. Vandalism, theft, and windshield and glass damage are typically covered by comprehensive auto insurance. If you want additional protection in case of an earthquake or storm, meet with your insurance agent to obtain a free quote.

Who Needs Comprehensive Coverage?

If you live in a rural area, you might need comprehensive coverage in case you run into a deer. Instead of worrying about someone stealing your car, invest in comprehensive coverage for your vehicle in Charlotte and Waxhaw, NC. If you still make car payments, the terms of your loan may require comprehensive auto insurance. Without comprehensive coverage, you could end up paying for expensive repairs out of pocket.

Get Comprehensive Auto Insurance for Peace of Mind

Comprehensive coverage is optional in North Carolina. However, there are many reasons you should consider purchasing it. If you would like one of the agents at Hausmann Insurance & Financial Services to help you weigh the pros and cons of comprehension auto insurance, we’d be happy to do so. Make an appointment today to obtain a free quote on car insurance in Charlotte and Waxhaw, NC.

Safeguarding Your Journey: The Importance of Motorhome Insurance

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For adventure seekers, there’s often nothing quite like the thrill of a road trip in a motorhome. With the freedom to explore new places and the comforts of home on the open road, it’s easy to understand why so many people choose to hit the pavement in an RV. However, with this freedom comes an important responsibility: motorhome insurance. Hausmann Insurance & Financial Services explains why motorhome insurance is a necessity for Charlotte and Waxhaw, NC residents.

The Importance of Motorhome Insurance

Theft and Vandalism:

Unfortunately, motorhomes are targets for theft and vandalism. Whether it’s from a break-in or someone stealing your entire vehicle, the loss can be devastating. With motorhome insurance, you can have peace of mind knowing that if the worst does happen, you’ll be covered for the cost of your vehicle.

Natural Disasters:

Mother Nature can be unpredictable, and if you’re caught in a natural disaster, your motor home may suffer significant damage. Motorhome insurance helps cover the costs of repairs or even replacement in the event of a catastrophic event.

Personal Belongings:

When you’re on a road trip in a motorhome, you’re likely to have personal belongings with you, such as electronics, clothing, and other items. In the event of theft or damage to these items, motorhome insurance can help cover the cost of replacement.

Peace of Mind:

Finally, motorhome insurance provides peace of mind. You can enjoy your road trip knowing that if the worst happens, you’ll be covered. 

We Are Here To Help

Motorhome insurance protects you, your vehicle, and your personal belongings from damage, theft, and accidents. If you’re planning a road trip in a motorhome, contact Hausmann Insurance & Financial Services to make sure you have comprehensive insurance coverage before leaving Waxhaw, NC and hitting the open road to Charlotte and beyond.

Why do people need to get boat insurance in North Carolina?

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Owning a boat can be an ideal investment for people in the Charlotte and Waxhaw, NC area. This part of the state is well known for having hot summers, and access to many local lakes and other waterways can be ideal for boat owners. If you are going to buy a boat here, you will want to ensure that you have insurance for it as well.

People here need to get boat coverage for various reasons:

Protect the Boat

A top reason to always have a boat insurance plan is so you can protect the watercraft. When you have this coverage, it will provide support in many situations that can result in a loss. This can include if the boat is stolen or damaged in any type of accident. This will be quite helpful if you do incur a loss and need to pay for repairs or a full replacement. 

Reduce Liability Concerns

It would be a good idea to also get a boat insurance plan to reduce your liability concerns. If you choose to purchase a boat, you will know there is a chance that you could cause an accident. If you have the right insurance, you will also receive financial support that can help to offset this risk. 

Reach Out To Us

If you choose to invest in a new boat in the Charlotte and Waxhaw, NC area, you clearly need to have boat insurance for it. When you are ready to start looking for coverage, it could be ideal to start by calling our team with Hausmann Insurance & Financial Services. Our professionals at Hausmann Insurance & Financial Services know how important this coverage is and they can help you prepare a plan that will properly support you and your boat. 

Condo Insurance Addresses the Special Needs of Condo Owners

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Condominiums have become a popular choice for individuals who prefer not to have the maintenance responsibilities of a single-family home yet want the financial benefit and privacy of home ownership. Hausmann Insurance & Financial Services, with offices in Charlotte and Waxhaw, NC offers condo insurance to protect your condo investment.

Special Problems That Condo Insurance Covers

Your condominium homeowners association generally carries a “master plan” of insurance that covers the exterior walls, roof, and common areas of your condo building. Some policies also cover plumbing and electrical systems within your building.

However, your possession inside the condominium is not covered by this policy, and if a damaging event should occur, you would not receive any reimbursement for goods that have been destroyed. Condo insurance fills in the gaps, covering clothing, furniture, electronic equipment, and many other items that would be expensive to replace.

Types of Coverage – Actual Cash Value or Replacement Cost?

Your condo insurance policy may reimburse you at the actual cash value of your possession, that is, what they are worth after depreciation and wear and tear. Another type of coverage reimburses you at replacement cost, which will pay at the level of a new item.  Replacement cost policies are more expensive than those for actual cash value but may be the better deal if you want your goods to be replaced with new items. Special, expensive items may only be covered to a certain limit, so you may need to schedule these items to receive higher limits of reimbursement.

Choose Us For Your Condo Insurance

We can provide in-depth answers to help you understand the details of your policy coverage. Contact Hausmann Insurance & Financial Services in Charlotte and Waxhaw, NC today for a no-obligation quote on condominium insurance for your property.

What are the Different Types of Life Insurance?

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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

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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

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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.

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