Do You Have Enough Homeowners and Car Insurance?
Are you currently in the market for one or more types of insurance coverage? If you’re unsure about the type or the amount of insurance coverage you may want or need, you can learn more by contacting a local insurance agency.
A Few Types of Insurance Coverage
There are several different types of insurance coverage. While some may be more familiar to you than others, you may have heard about the following kinds of insurance:
- Business insurance
- Car insurance
- Homeowner insurance
- Life insurance
- Renters insurance
Each type of insurance listed above will have various categories of coverage and price. It’s important to contact an insurance company to obtain advice and learn about your options.
Are You Interested in Homeowners Insurance?
If you’ve just purchased your first home, for example, you probably have questions about homeowners insurance. Every year, roughly one out of every 15 insured homeowners will need to file a claim. According to ISO, 5.4% of insured homeowners filed claims for a variety of reasons; however, 97.3% of these claims were due to property damage and theft.
Property damage takes many forms. On an annual basis, weather conditions such as wind and hail account for approximately one out of every 30 insurance claims. Another form of property damage is due to emergencies resulting from water damage. Industry estimates show that 14,000 homeowners or businesses will experience an emergency of this type every day.
Another prevalent form of water damage occurs in homes with basements. It is estimated that basement flooding and other types of water damage will occur at least once in 98% of these homes.
Are You Interested in Car Insurance?
If you just purchased your first automobile or plan to upgrade to a luxury sedan, you may have questions about car insurance. In 2014, for example, it cost $1,115, on average, to insure a sedan. In 2015, however, the price rose 9.6% to $1,222.
Were you aware that 16% of people in the United States are driving without insurance? What is even more surprising, is that this occurs at any given moment throughout the day. Even when drivers have the appropriate level of car insurance, they may still be involved in an accident.
When individuals without insurance are involved in an accident, there are a variety of financial and legal repercussions. These repercussions can also occur when an uninsured driver is not responsible for causing an accident.
Given the number of accidents that occur on a daily basis, the importance of having ample car insurance cannot be stressed enough. While roughly 1.25 million people are involved in fatal crashes every year, approximately 20-to-50 million more sustain non-fatal injuries. Many of these injuries may result in a temporary or permanent disability.
When you live in an area that experiences heavy winters, were you aware that you can potentially decrease your insurance premium by purchasing four winter tires? While it does depend on your particular insurance provider, you may be able to save five percent for equipping your vehicle with this essential safety feature.
Rather than make an educated guess as to what type of insurance coverage you need, it makes sense to contact a local insurance company to find out the facts. When you meet with an insurance agent, they will be able to provide you with the benefit of their experience.
Having the right type of insurance coverage for your home, car, business, or anticipated medical needs can make a major difference in your state of mind.