Homeowners Insurance- is to protect from things that can damage your home and personal belongings. Not only does homeowners insurance protect during an inclement weather event, but the policy can provide coverage for injuries that occur on your property and lawsuits against you. Whether you own or rent, there are different packages of home insurance offered to protect your home and belongings. Policy packages can protect against specified perils such as fire, windstorm, hail and theft. In addition to coverage for named perils, a package policy can contain coverage for property damage, additional living expenses, personal liability and medical payments. Homeowners policies apply to most owner-occupied single family dwellings and is modified slightly for apartments and condominiums. Auto Insurance- is one of the most used types of personal insurance. Most states require that you purchase some kind of insurance coverage to drive legally in the state. Auto insurance can be divided into two basic coverage areas: liability and property damage. The first factor is underwriting, where insurance companies assess the risk associated with an applicant. The second factor is rating; the rating assigns a price based on what the insurer believes it will cost to assume the financial responsibility for the applicant’s potential claim. Life/Mortgage Protection- A life insurance policy guarantees the insurer pays a sum of money to one or more named beneficiaries when the insured person dies in exchange for premiums paid by the policyholder during their lifetime. Umbrella Insurance- is extra insurance that provides protection beyond existing limits and coverages of other policies. An umbrella insurance policy helps protect your assets by providing coverage when your homeowners, auto, and boat insurance policies limits are exhausted. Umbrella insurance provides coverage for claims that may be excluded by other liability policies including claims like false arrest, libel, slander, and liability coverage on rental units you own.
