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Business Insurance FAQs

What types of business insurance do I need?

For small- and medium-size businesses, a business owner’s policy can provide enough coverage to include commercial property, general liability and crime insurance, as well as additional coverage types based on your needs.

Some companies might consider separate policies in order to receive sufficient coverage for their property, income and financial assets. Here are some other policies business owners should consider:

Commercial property insurance covers your business’s physical property, such as office space, computers, furniture, inventory and more, in the event of minor accidents or major financial loss.

Commercial general liability insurance protects your business against accidents, injuries, negligence claims and other risks.

Similar to commercial general liability, professional liability insurance protects the people and entities of your business from negligent claims made by third parties or even internal sources.

Commercial auto insurance keeps your commercial vehicles and the employees who drive them safe in the event of property or vehicle damage, bodily injury, legal costs and more.

Do I need workers’ compensation insurance?

In North Carolina, state law mandates that most businesses hold workers’ compensation insurance to cover medical payments and lost wages. The right policy will protect both employers and employees in the event of an accident, from slips and falls to car accidents and other injuries. At Pelnik, our expert insurance specialists are available for support and answers to any questions about workers’ compensation policies and processes.

Employee Benefits FAQs

How can I protect my employees?

We offer a vast array of coverages for your hard-working employees. Rewarding them with benefits options is a great way to attract and maintain top talent. Our voluntary benefits packages include disability, life, dental and health insurance, as well as other types of coverage. Pelnik Insurance is here to help employers build a customized benefits package for their team. Here are just a few types of insurance we offer:

Group benefits offer a single policy for all employees and their dependents. These benefits can include health, dental, disability, voluntary benefits, life and accident policies and more.

In the event of injury or illness, a disability insurance policy protects your employees by paying them a portion of their income, usually between 50 and 70 percent. Like life insurance, disability is purchased for a period of time, such as a two- or five-year term, and benefits will only be paid if they become disabled during the term of the policy.

Do you offer insurance for retired employees?

Yes. Our customizable retiree health insurance plans provide Medicare benefits, prescription coverage and more for your former employees.

Personal Insurance FAQs

What does home insurance cover?

Accidents can happen at any time. Having the right insurance can protect your home and everything in it, as well as keep your property covered from damages and accidents. While standard home insurance can cover anything from fire and weather damage to injuries and theft, not all damages and accidents may be insured under a standard policy.

Our home insurance coverage options include property, homeowners liability, identity theft and much more. It’s important to talk to an insurance specialist at Pelnik Insurance about specific coverage options that are applicable to your individual needs.

What does auto insurance cover?

Not all auto insurance covers the same incidents. In most states, your insurance is legally required to cover the damage you cause to other cars in a collision as well as some medical bills. But you may want to consider coverage for theft, damage from fire or an accident that does not involve another vehicle. Uninsured motorists are another factor you may want covered in your policy. Our insurance specialists will work with you one-on-one to find a policy that keeps you and your drivers protected at all costs—for peace-of-mind driving assurance.

What is personal umbrella insurance?

Personal Umbrella Liability gives you additional protection when damages exceed the liability coverage of your standard policies. It also offers extra security for many situations that may not be included in your basic insurance. For example, if you’re involved a major auto accident or if someone is injured on your property, you could be sued for damages well beyond the liability coverage provided by your home and auto insurance policies.

In such a critical situation, having personal umbrella insurance from Pelnik will protect your home, car, future wages and all of your priceless assets from being used to pay for the expenses.

How much life insurance do I need?

The size of your life insurance policy depends on your existing and future financial obligations. Consider needs like funeral costs, taxes, food, utilities, house payments and other financial burdens your family my face in the event of your death.

Another factor to consider when determining the size of a life insurance policy is the resources your family can access to cover their expenses. Your partner’s income, savings, investments and other income sources can help meet your family’s obligations.

Your financial obligations minus your family’s income sources is the approximate value of the life insurance policy that you need. Your Pelnik insurance agent will help you choose a policy that meets all of your family’s needs.

What type of disability coverage should i consider?

Disability insurance allows you and your family to be protected in the case of a life-changing events, such as injury or illness, through paying a portion of your salary (typically 50%-70%). There are two types of disability insurance, and it is important to understand the benefits of both:

Short-term disability:

  • Depending on your policy, short-term disability can last between 3-6 months, and you receive your first payout approximately two weeks after a doctor confirms your disability.

Long-term disability:

  • Depending on your policy, long-term disability can last five years or longer if your disability continues. Designed to begin after a short-term disability policy ends, long-term disability involved an elimination period, meaning you do not receive your first payout for around 3-6 months.
What does long-term care insurance cover?

Long-term care insurance helps cover extended home or nursing home health costs for individuals who have become unable to perform day-to-day activities without assistance. Long-term care coverage may include:

  • Home care
  • Assisted living
  • Nursing homes
  • Adult daycare
  • Hospice care
  • Respite care
  • Home modification for disability accommodation
Are there other personal insurance policies I should consider?

In addition to coverage for home, auto, umbrella, life, disability, and long-term care, we are proud to offer a wide range of personal insurance options to meet your needs:

  • Identity theft insurance
  • Child health insurance
  • Travel health insurance
  • Prescription insurance
  • Accident insurance
  • Critical illness insurance
  • Hospital illness insurance
  • Mortgage protection insurance
  • Boat insurance
  • Motorcycle insurance