Insuring Your Toys

Insuring Your Toys


What do you consider a toy?  A toy when it comes to insurance can be any of the following:  RV, ATV, Golf Cart, Jet Ski, Boat (of any size/type), Motorized Scooter, or Motorcycle.  All of these items need to be insured separate from your home and auto insurance policies.

Boats and Jet Ski’s:

  1. Exposure:  Are you a Commercial Fisherman?  Recreational Fisherman?  Are you boating in salt water?  Fresh water?  Do you rent your vessel?  Do you live on your vessel?  These are all questions that will help determine the type of policy you need.
  2. Basic Coverages: Basic coverages include the hull, engine(s) and trailer. In some cases, the engine replacement cost is more than the hull.
  3. Bells and Whistles:  Don’t forget your special equipment ranging from fishing gear to recreational water sports equipment.  Valuable coverages also include Unisured/Underinsured Boaters, Theft, Passenger Injuries and more.

Motorcycles, Motorized Scooter, Golf Carts and ATV’s

  1. Exposure: Do you run Motorcross?  Vehicle commercially used?  Long distance commuting/travel?  Crusing/Pleasure riding?  Off-road riding?  These are all questions that will help determine the type of policy you need.
  2. Basic Coverages: In most cases, the NCDMV requires liability coverage for these vehicles when used on the road.  Physical damage coverage is also available to repair or replace your vehicle if an accident where to occur.
  3. Bells and Whistles: Safety apparel can be a significant investment. Check whether you have coverage for items such as helmets, boots and gloves and for how much.

Recreational Vehicles and Campers

  1. Exposure: Do you live in your RV/Camper?  How often is it used?  Do you rent it?  Is it garaged at a campground?  What type is your RV/Camper?  These are all questions that will help determine the type of policy you need
  2. Basic Coverages: Much like insurance for your car, RV insurance can include liability, comprehensive, collision and uninsured/underinsured motorist coverage.
  3. Bells and Whistles: Just like your home insurance, it is important to cover all the items inside your RV/Camper, as they are just as valuable as the items in your home.

It’s a good feeling to get back behind the wheel of your favorite toy. It’s even better when you know you have the coverage you want for the toy(s) you love.  Vogedes Insurance Agency, Inc. can help you with all of the above and more.  Stop by one of our offices – Edenton or Kitty Hawk and ask to speak with an agent.


Force-Placed Coverage

Force-Placed Coverage


Unless you are very lucky, you probably have a mortgage on your home. Your mortgage company, also known as a lien-holder, has a vested interest in the protection of your home. If you fail to carry acceptable homeowner’s insurance and a loss occurs, their monetary loss will be much greater than yours. For this reason, lien-holders require that you carry homeowner’s insurance. You won’t be able to close on a purchase without it, and if it lapses, your lien-holder will step in.

What Is Force-Placed Insurance?

Force-Placed insurance is a policy that your lien-holder takes out on your home when your policy has lapsed or you have not provided them with proof of a policy that is acceptable to them. In order to protect their interest in the property, your mortgage company will obtain a policy and attach the payments on this policy to your mortgage. This insurance will remain in place until you provide proof of an alternate insurance policy.

Why You Don’t Want It

It doesn’t sound like such a bad deal to let the mortgage company handle placing insurance on your home. The problem is that this type of policy exists only to protect the mortgage company’s interests—not yours. There is no coverage for your personal property, and in the case of a claim you will get nothing—only the mortgage company will receive payment. In return for this limited coverage, force-placed insurance is very expensive—much more so than traditional homeowner’s insurance.

How Can I Avoid It?

First of all, make sure your homeowner’s insurance coverage doesn’t lapse! Make your payments on time. If you have trouble remembering, consider rolling the insurance in with your mortgage payment, or having it automatically withdrawn. Another important consideration is to make sure that the insurance company has accurate information regarding your lien-holder, including their address. This will ensure the insurance company provides proof of insurance to the correct lien-holder and there is no question that you already have insurance in place.

Force-placed insurance isn’t what the mortgage company wants, nor is it the best choice for your interests. Be sure your homeowner’s insurance stays in force and proof is provided so that your interests, as well as those of the mortgage company, are protected.

Personal Property Coverage

Personal Property Coverage


Most people love their home, but what makes it far more valuable than the walls and roof are the things that fill it.  Your personal property is special to you, things that you have gathered over many years and selected to suit your personal taste.  Making certain you have enough coverage for these things should be a top priority when it comes to homeowner’s insurance.  Here’s how to be sure your personal property is protected.

How Personal Property Coverage Is Determined

Most insurance companies use a percentage of the value of the home to determine the amount of personal property coverage.  When you see that number, be sure to question it if you believe it’s too low.  In some cases you may need to provide some evidence for the extra coverage, but it’s worth the hassle.  If you were to lose everything in a fire, that is the maximum amount you would receive to replace everything.  And that really is everything, from your toothbrush to your dining room table.  So be sure to discuss that number thoroughly with your agent!

Special Items Of Value

Whenever there is something of particular value in a home, such as artwork, jewelry, or rugs, you may need to take out a special additional coverage known as a floater.  A floater adds a specific coverage to the policy that is intended only for that particular item.  It usually requires an appraisal of the item as proof of value and comes with an extra premium amount.  However, if your diamond engagement ring is stolen from your home you will certainly be glad you covered it properly, because most personal property coverage has a per item limit on jewelry that probably won’t cover it.

When You Aren’t At Home

Many people don’t know this, but your homeowner’s insurance will actually cover your personal property anywhere you go.  That means that if your things are stolen from your car, or even from your hotel room in Hawaii, you can make a claim against your policy to recover the damage.  You will, of course, have to pay the deductible, so the amount of the stolen goods will need to be enough to make the claim worthwhile.

Your homeowner’s insurance covers more than your house—it covers the things that make it your home.  Be sure you help your agent and insurance company cover your things properly by keeping good records, taking out floaters when needed, and ensuring you have the right amount of coverage on your policy.


Business Property Insurance

Business Property Insurance


Whatever type of business you operate, you have important property that you rely on to get the job done.  The physical property required by your business, from office equipment to manufacturing equipment, is vital to your operations and not easily replaceable.  Think about how much it would cost you to replace everything your company uses each and every day to make your business run.  Could you afford to start from scratch if everything were lost?

Covering Your Business Property

Property coverage is a vital part of your commercial insurance policy; it protects you against the loss of all of those items that represent a substantial investment in your business.  It covers you for everything from the desk and chair you sit at to the computer equipment you need to keep up with business in the modern age.

Take a minute to do some mental calculations and figure out just how much you have spent gathering furniture and office equipment, as well as other equipment such as manufacturing systems that make it possible for you to stay in business.  Chances are you didn’t buy it all at once, and you might not be aware of just how much you have invested or what you stand to lose in case of a fire or other catastrophe.  Without those things you could not continue to stay in business, and you would need to have a lot of cash on hand to replace them.

Building Coverage Isn’t Always Property Coverage

If you lease or rent the space in which you do business, then someone else probably handles the coverage for the building itself.  But their policy doesn’t cover you at all; it exists to protect the owners of the property itself.  The things that you keep inside your office, warehouse, or factory are not covered by this policy.  You need to carry your own coverage to ensure that if something happens, your property would be replaced.

If you do own the building in which you do business, whether a commercial space or a business run out of your home, it is a dangerous assumption to think that your property is covered.  Many commercial building coverage policies have minimal coverage for property, and a homeowner’s policy doesn’t cover business items.  Don’t assume you have coverage!

Protect your business from a potential disaster by getting property coverage to ensure that even after a fire or other catastrophic event, you will be able to replace everything and get back to business as soon as possible.

Agent Spotlight – Dana Hedgepeth – Personal Lines

Agent Spotlight – Dana Hedgepeth – Personal Lines

Dana Hedgepeth has been in the insurance industry for 15 years. She has lived in Dare County for the past 29 years.  Dana is married and has 2 children.  In her free time she enjoys spending time with her family and being outdoors, especially going fishing.  Dana is an active member of the community, she is a member of the Go Far Program and Dare County Softball.  Not only does she play softball she also coaches girls softball and volunteers at several sports and charity events throughout the year.

Stop by Vogedes Insurance Agency in Kitty Hawk to see Dana or give her a call to discuss all of your personal insurance needs.

Agent Spotlight – Amy Floyd – Personal Lines

Agent Spotlight – Amy Floyd – Personal Lines

Amy has been in the insurance industry for 29 years.  She enjoys getting to know her clients and helping them with any insurance questions they may have and finding the right insurance for their individual needs.  She is currently working on her CISR (Certified Insurance Service Representative) Designation.  Amy is also a North Carolina Notary Public.  She has lived in Chowan County for the past 34 years, 29 years of that spent with her husband, Dodd, and their 2 sons, Matt and Jon.  In her free time she enjoys spending time with her family and being outdoors, whether in the garden, on the boat or camping.

Stop by Vogedes Insurance Agency in Edenton to see Amy or give her a call to discuss all of your personal insurance needs.