Home for the Holidays

by Penny Insurance Agency | Dec 8, 2020 | Insurance

The funny thing about the phrase “home for the holidays” is that most of us are actually out and about more than ever during the holiday season. Whether we’re out shopping for Christmas gifts, attending parties, or visiting family, it seems like we’re anywhere but home.

Unfortunately, being away from home paired with traditional holiday activities and decor create the perfect recipe for holiday hazards. What you as a homeowner need to know is whether or not your home insurance has you covered for those unexpected, yet all too common Christmastime mishaps.

Are you insured for common holiday home risks?

Electrical Fires from Light Displays
Christmas decorations are stunning, but if they’re not done right and monitored carefully, they can end up putting your homeowner’s insurance coverage to the test.

We all love a house and front yard covered in lights, but it’s best to never to leave your lights on when you’re not home. The enjoyment your neighbors and those walking by may receive from your unmonitored outdoor light display is not worth the cost of an electrical fire.

For your outdoor and indoor light displays, be careful not to overload your outlets. This could also start a fire – especially when your lights are wrapped around a dead tree in your living room. According to the National Fire Protection Association, 44% of Christmas tree fires are caused by electrical distribution or lighting equipment.

Fireplace-Related Fires
Perhaps it’s all of those chestnuts you’re roasting over the open fire, but fireplace-related fires skyrocket every December, according to the NFPA. Often, it’s from candles on the mantle, not necessarily the fireplace.

Either way, the best way to avoid fireplace-related fires is to use fewer decorations around flames. Give you candles and your fireplace plenty of breathing room from stocking, garland and boughs of holly.

Stolen Christmas Presents
Robberies go way up during the holidays because thieves know they can get their hands on some brand-new tech toys and whatnot via your Christmas gift stash. Basic homeowner’s insurance covers personal contents, which means most items stolen from your home would be insured. If you have valuables that you’d like to insure, you may want to consider Valuable Items Insurance.

What if an item is stolen from your car? More often than not, thieves will break into a vehicle before they rob your home, so you need to know if your home insurance policy will cover those pricey Christmas presents that never made it home. In certain cases, Penny Insurance will cover a percentage of the cost of items stolen from your car under your home insurance policy.

Certain factors – such as whether or not you locked your car – will be used to determine what percentage of the stolen items insurance will cover. One of our insurance representatives would be happy to talk with you more about specifics. In the meantime, keep your car locked, and valuables out of sight.

Slips and Falls on Your Property
What if the Amazon delivery person slips on a patch of ice in your driveway and experiences a serious injury? Most homeowner insurance policies cover liability insurance, which means you would not be liable for medical bills. However, most policies have a threshold amount that they would cover in case of a lawsuit. If you’d rather not risk hitting that threshold, you can pay a little more for umbrella liability protection which goes into effect when your liability coverage meets its threshold.

Good Tidings of Great Home Insurance

The holidays are busy, and we know contemplating home insurance is probably not number one on your to-do list. That’s why, as a smaller independent insurance agency, we won’t waste your time bouncing you around from person to person. We’ll answer your insurance questions just the way you ask them – directly, to the point, and always with your best interests at heart.

Open Enrollment 2020: How to Prepare for 2021

by Penny Insurance Agency | Dec 7, 2020 | Insurance

It’s hard to believe we’re already closing in on the holidays. Thanksgiving is fast-approaching, and Christmas isn’t far behind. But before we get too far ahead of ourselves, let’s not forget what season is currently upon us – open enrollment!

We know, you already have more than enough on your plate right now (especially now that we just mentioned the holidays), and we hate to be the ones to add something else to your list, but open enrollment is an important time of year. The decisions you make between now and December 15th will affect you for the entirety of 2021, and we want to help you stay informed so that you can make the right insurance decisions for you and your family.

Dates and Deadlines for Health Insurance

When is it time to enroll?

The open enrollment period in North Carolina is the same every year. It begins November 1st and ends December 15th. Whatever insurance plan you enroll in during that time will go into effect on January 1st.

The open enrollment period was put in place to keep people from taking advantage of the system by signing up for health insurance right before undergoing a major procedure or immediately after finding out they need an expensive medication. Failing to enroll in health insurance coverage during the designated time means that you’ll be without health insurance for a year and be forced to wait for the next open enrollment period to get it.

There are, however, circumstances in which you can get insurance outside the open enrollment window.

Special Enrollment Period

What are the qualifications?

Some people qualify for a special enrollment period. Life events like losing other coverage, getting married, having a baby, or starting a new job typically make a person eligible for special enrollment. Additionally, those who qualify for Medicaid or the Children’s Health Insurance Program (CHIP) can also apply any time.

Since Penny Insurance Agency’s clients are all 65 years old or more, some of these life events are unlikely to occur in the next year. Insurance through Penny is a Medicare supplement. We do not offer Obamacare/ACA plans or under 65 health insurance.

Renewing vs. Shopping Around

What’s in my best interests?

You can count on your insurance costs going up from one year to the next, but don’t wait for your bill in January to find out just how much it increased. Ask your insurance company during open enrollment how much you’ll be paying for coverage next year, and if it’s a number you’re not happy with, you may want to shop around.

We get it – it’s so much easier to just renew your current plan, but if you can get better coverage that’s consolidated and managed by professionals who actually care about your needs, then isn’t a little insurance shopping worth it?

Open Enrollment with Penny Insurance Agency

How does it work?

The great thing about working with Penny Insurance is that you don’t have to know exactly what insurance plan you want. Leave it to our team to find a comprehensive coverage plan that makes sense for you, and then we’ll provide the most up-to-date facts so that you can make an informed decision.

As monotonous and mundane as open enrollment seems (especially next to all of your fun holiday plans), the great news is you do not have to tackle it alone. Our experienced and knowledgeable agents are ready to help you through the process.

Contact us today if you’re interested in speaking with a Penny Insurance Agency representative. Your protection is our priority.

For more information about open enrollment check out the Open Enrollment 2021 Guide from healthinsurance.org or one of our older posts titled, Open Enrollment: What You Really Need to Know.