Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it. Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.
It provides liability insurance and the tenant’s personal property is covered against named perils such as fire, theft, and vandalism. It also pays expenses, when the dwelling becomes uninhabitable.
Condominium insurance is designed specifically for condo or co-op owners. Condominium policies help protect your personal property and the interior of your unit. You will also have liability protection for bodily injury or property damage to others.
The Personal Auto Policy (PAP) … Auto insurance (aka car insurance) provides insurance coverage for damage or injury to others, in the form of liability insurance, and can also provide coverage for injuries or damages to the insured.
Umbrella insurance is extra liability insurance. It is designed to help protect you from major claims and lawsuits and as a result it helps protect your assets and your future. It does this in two ways: Provides additional liability coverage above the limits of your homeowners, auto, and boat insurance policies.
MOTOR HOMES / RV
For those who live and travel in a motorhome full-time: Look for motorhome-specific coverage that takes into account that if your vehicle is damaged, you have not only lost your primary mode of transportation but have been forced out of your home. Emergency expense allowance should be available to help defray the costs of a hotel, rental car or airfare in case an unexpected situation occurs. Most full-timers no longer have the comprehensive personal liability coverage that a homeowner’s policy provides. Since most full-timers store belongings while out on the road, a specialty RV policy can expand your coverage to include contents kept in storage.
Safety is so important when it comes to riding motorcycles. It is widely understood that motorcyclists face a higher risk of getting into a crash than drivers of standard cars. With that being said, it is important to have a good motorcycle insurance policy. You never know what could happen, and having insurance can go a long way in protecting you financially.
Life insurance is a protection against financial loss that would result from the premature death of an insured. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured. The death benefit is paid by a life insurer in consideration for premium payments made by the insured.
LONG TERM CARE
Long term care insurance is a type of coverage available for people who potentially may require long term care. There are many types of long term care insurance (LTCi) available but as a standard it covers things that health insurance does not and it can also protect your assets. When you purchase an LTCi policy, it takes any possible burden off of your children to have to provide care for you. These policies typically cover such things as nursing homes and adult day care but can also cover things such as home care and assisted living. If you have an LTCi policy, the benefits will be triggered when you begin to need help with activities of daily living or have a severe cognitive impairment.