Basic homeowners insurance policies cover a multitude of unexpected costs associated with property damage, accidents, living expenses and medical costs. However, policies usually do not cover everything under the sun.
While you might be aware that your policy won't cover flood and earthquake damage unless you purchase extra coverage, you might not realize that it won't cover other things, such as a dog bite injury if a dog from a restricted breed is at fault.
In the past, when law enforcement stopped you for a traffic violation, you had to show proof of your car insurance or risk a fine. In some cases, you were reported to the state for not having the proper insurance coverage on your car and penalized by losing your driver's license or registration. Recent trends in auto insurance reveal that some states, such as West Virginia, now allow you to show electronic proof of your insurance coverage with your electronic device.
If you are purchasing an older building to start your own business and you are worried about the costs and risks, you want to talk to a commercial insurance agent about the different policies you need. There are basic common items you should have in your policy, like liability, property and worker's compensation insurance, but others that aren't standard.
If this is your only source of income and how you plan on supporting yourself, you want to make sure that you take extra precaution to prevent unforeseen expenses or losses.
For those who own a home, it is a given that they need to have it insured in case something happens to cause damage to it. However, if you rent an apartment or home, you may not realize that you need renter's insurance - or that you even have the ability to get it at all. Here are three reasons every renter should have renter's insurance.
1. It's usually very affordable.
Home insurance is necessary for all homeowners, but did you know that things you do can affect your premiums and policy coverage? Below are three examples of such factors and how they can affect your policy.
Renovations or a New Addition
If you're considering a renovation or home addition, you may want to find out how this will affect your home insurance coverage before beginning the project.
Certain renovations and additions can negatively impact your coverage, but there are those that have a huge positive impact as well.
