Melissa Matzenbacher-Galan | Sep 13, 2023
Unlike homeowners or commercial property insurance...
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Personal insurance serves as a financial safety net for you and your family in the event of a loss, claim, or natural disaster, such as a fire, theft, lawsuit, or vehicle accident. The personal insurance policy is a legal contract between you and your insurance provider.
When you file a claim for a loss covered by your policy, insurance pays you, or a chosen recipient, according to the terms of your policy.
Protecting your most valuable assets is a vital part of developing a sound personal financial strategy. The correct insurance coverage may go a long way toward ensuring that your earnings and valuables are protected. We will go through the personal insurance policies you should not be without.
Homeowners. Your lender will need you to buy homeowners insurance if you have a mortgage. Even if you do not have a mortgage, you should protect your investment by purchasing homeowner insurance.
Drivers. Auto insurance is required by law, so if you own any vehicle, you need auto insurance.
Anyone with assets. If you have any assets, retirement accounts, or own any property, it is a good idea to have personal insurance.
There are many distinct types of personal insurance policies that are offered by hundreds of personal insurance insurers, such as:
Knowing what type of personal insurance you need can be daunting. That’s why having an independent agent guiding you through the process can reduce your stress, save time, and provide peace of mind knowing that you have the right insurance that meets your individual needs.
If your home is destroyed by fire, storms, hail, natural catastrophes, or vandalism, your homeowner’s insurance will cover the cost of repairs or even rebuilding. A homeowner’s policy also protects the contents of your home, which might be just as valuable as your house.
Furniture and other decor, appliances, electronics, apparel, sporting goods, children’s toys, and housewares are included. Renters and condominium insurance do not cover structures, just personal property.
A specific amount of liability coverage is included in your policy. If someone is injured or hurt on your property and successfully sues you for damages, this protects you and your personal assets. Otherwise, it is far too easy to lose everything in the event of a slip and fall or a dog bite.
With specialized coverages, you will get the insurance you want and the protection you deserve, whether you have a four-wheeler, RV, motorcycle, boat, jet ski, or golf cart.
Almost any type of recreational vehicle can be hazardous, and sometimes mishaps are unavoidable when utilizing them. It is critical to take precautions to safeguard yourself and your important assets. To do so, make sure you have enough insurance coverage.
Life insurance pays a financial benefit to a descendant’s family or another selected beneficiary and may give income to the insured person’s family as well as funds to cover burial and other final expenditures. Funds can be used to pay ongoing expenses, college, and other obligations.
Wedding insurance safeguards a couple’s investment against unforeseen events. It covers anything from wardrobe malfunctions to natural disasters, among many other things that can go wrong, and then reimburses the costs.
A big concern is how your health insurance applies when you travel. With all the changes in healthcare, you may need special trip medical insurance. If you are traveling abroad, your health insurance may not provide any coverage.
Long-term care insurance covers the expense of care over an extended length of time. It provides coverage for services that are not covered by health insurance, Medicare, or Medicaid. Individuals who require long-term care are typically not sick in the traditional sense but unable to do basic daily functions like clothing, bathing, eating, toileting, continence, transferring and walking.
A Personal Umbrella Policy provides additional liability insurance protection over and beyond that provided by most primary liability policies. Today, $1 million-plus judgments are not uncommon.
The personal umbrella policy can provide you, your spouse, and any children living with you with $1 million or more in liability insurance protection for insured losses, depending on the liability insurance limits you choose.
The Affordable Care Act puts consumers back in charge of their health care. Under the law, a new “Patient’s Bill of Rights” gives the American people the stability and flexibility they need to make informed choices about their health.
If you become too ill or disabled to work, disability insurance offers a portion of your income to help you meet your bills. Disability affects a larger number of people than you would realize. In fact, illnesses such as heart disease and arthritis cause more disabilities than injuries, and Workman’s Compensation does not cover most disabilities.
We have identified several personal insurance products that everyone should consider. Personal insurance products are designed to protect you and your family at a reasonable cost. These products vary regarding coverage, terms, conditions, and prices. Work with your agent to determine which coverages you may need.
After family, the roof over your head and the wheels that get you where you’re going are among the more important possessions in your life. Whether you live in a house, condo or mobile home, and whether you drive a car, truck or motorcycle, Leap | Carpenter | Kemps Insurance Agency will get you the policies you need.
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