Tag Archives: home insurance

3 Types of Insurance Your Family Needs Now

Insurance is something that a lot of people only think about getting after something has happened. In many of these situations, it is too late to get a quality policy. It is always best to be prepared in life, and while you hope you will not need insurance, it is something you need to invest in. For families trying to figure out what type of insurance is necessary, consider these three: life, home and auto.

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1. Life

Whoever brings in income for a family needs to be covered under a life insurance policy. Unfortunately, accidents and tragedies do happen, and it is important to have this type of coverage. It can make the head of household feel much better about the security of the family if something should happen to him or her. Be sure that you talk with an insurance agent about how much life insurance Boerne TX you need — it greatly depends on the size of your family, your income and your debts.

2. Home

If you own a home, insurance with fire and flood coverage is a must. If you are a renter, it is still important that you have insurance for the contents of your house or apartment. Although there are some things that money cannot replace after an accident, you will need the extra help getting on your feet again. The price you pay is relatively low when you consider the peace of mind that it brings. 

3. Auto

Car accidents happen everywhere, every day. You need to have coverage for all vehicles and drivers in your home. Depending on the value of your vehicle, you may choose comprehensive or liability coverage. 

When you have these types of insurance, your family can feel more secure in their situation. Although you cannot always anticipate bad things happening, you can help yourself be better prepared. 

Reviewing Your Homeowner’s Insurance Policy Can Reveal Hidden Coverages

If you haven’t reviewed your homeowner’s insurance policy since you bought your home, you may have forgotten what coverage it provides. This can hurt you in a number of ways. Most obviously, it may mean that you don’t have the level of coverage you home needs in the current economy. Additionally, it may mean you have coverage to help offset costs that you might otherwise assume are your own responsibility to pay.

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One reason it’s a good idea to read through your policy on a yearly basis is to ensure you still have enough coverage. Just the increases in the cost of living may dictate a need to raise your coverage a little. If you’ve added a new structure to your property or built onto an existing one, that need to update your coverage becomes even more imperative. Failing to amend your policy to cover these additions can cost you if something does happen.

Additionally, you should take the time to familiarize yourself with other coverages your policy does offer. For instance, homeowners insurance Lodi CA typically offers liability coverage. This will be helpful in the event someone is injured on your property. The liability coverage may cover all or some of their medical care expenses and may provide you with money to hire a lawyer in the event of litigation.

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If something happens to your home and you must vacate the property until it can be repaired, you’ll end up spending money on temporary lodging, meals, and other necessities. Your policy may also offer coverage for these costs. Knowing that temporary living expenses may be covered can help you save money through this difficult experience.

These are just a few ways your homeowner’s insurance policy can help you in a time of need. As you review your policy each year, look at each type of coverage and determine if you should increase the amounts for which you’re covered. This can help you survive an emergency in the event your home is destroyed by a fire or other natural disaster.