First thing’s first, what IS an insurance? What is a casualty insurance and what is a property insurance?
To answer that in the simplest ways that even I, an idiot, could understand, it basically is a coverage that protects your stuff. These stuff are the expensive kinds of things that you would own, like a car or your house. An insurance can provide coverage that will protect you if you’re somehow responsible for the accident that occurred.
So in the event that you had been in a car accident with your own vehicle and there were properties that got destroyed along with it, the insurance will help you so you don’t have to really pay for the damages from your own pocket. They have it covered.
So with that said, what ARE the other insurances that you need to know about? You know, just in case you will want to buy something expensive yourself? Well, with the help of allstate, I’ve conducted a list.
Homeowners Insurance
This may help protect your house and the belongings you have in there against fire or theft. This also has you safe against some event that you’re found legally responsible in someone’s injury at your home or maybe if you’ve cause damage to someone else’s property or something, because it has liability coverage.
Car Insurance
This kind of insurance may help protect you and your vehicle in a lot of ways, which actually depends on which coverage you choose. Your lender may require collision coverage and comprehensive coverage too.
Condo Insurance
Your interior unit may be protected from the damage it got with the use of a condo insurance. Another component that’s usually with this is the liability protection. It is very important that you understand what your policy covers vs. what MAY be covered.
Renter’s Insurance
In the events that you rent, you might find that your landlord has some insurance policy that protects him and his property. Although that doesn’t really apply to your belongings once you settle in. A renters insurance will help you protect that stuff that you own in that place you rented. Your furniture, clothing etc. typically falls into this category. Typically, this includes a coverage where you are protected if you somehow found yourself responsible to someone else’s plight when they were in your property.
Landlord Insurance
This one may help get some important protection for the property that generates some rental income. This will help the building the landlord owns from perils like fire or hail and offers liability protection if you’re somehow sued after the incident on your property.
It doesn’t matter what kind of insurance you apply, it is important that you remember that they are there for coverage limits. You make sure to read up on your policies and check with your agent so you can learn about the coverage that you have. The limits can be adjusted based on the situation you’re specifically in.
Luckily, a local agent can help you identify which types of coverage will be right for you.
