Coverages
Property & Casualty is an umbrella coverage term that describes various types of home and auto insurance policies.
Home
"Homeowners insurance provides you with financial protection in the event of a disaster or accident involving your home.
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A standard homeowners insurance policy insures your home's structure (house,) and your belongings in the event of a destructive event, such as a fire.
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In addition, homeowners insurance policies are generally "package policies." This means that the coverage includes not only damage to your property, but also your liability—that is, legal responsibility—for any injuries and property damage to others caused by you or members of your family (including your household pets).
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Property Coverage - to pay for repairs to your home, garage or other buildings that are damaged.
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Personal Property - if you have a loss of valuables in your home like jewelry, electronics or guns due to theft or damage.
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Liability - this will cover if there is a claim when someone is injured or their property is damaged.
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Medical Expenses - this would be medical coverage for someone that is injured, other than a resident, on your property.
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Living Expenses - if you have a complete loss, you may need extra temporary housing or food when you're forced from your home.
There may also be other coverages that you many want to consider in addition to your basic homeowners policy. These may include personal umbrella, automobile, flood, earthquake or jewelry insurance."
“You can’t own a car without automobile insurance, and while your mortgage company may not require that you have homeowners insurance, would you really consider leaving the single biggest investment of your life unprotected?”
Auto
"Auto insurance is a contract between you and the insurance company that protects you against financial loss in the event of an accident or theft. In exchange for your paying a premium, the insurance company agrees to pay your losses as outlined in your policy.
Auto insurance provides coverage for:
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Property – such as damage to or theft of your car
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Liability – your legal responsibility to others for bodily injury or property damage
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Medical – the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses
Basic personal auto insurance is mandated by most U.S. states, and laws vary. Auto insurance coverages are priced individually (a la carte) to let you customize coverage amounts to suit your exact needs and budget.
Policies are generally issued for six-month or one-year timeframes and are renewable. The insurance company sends a notice when it’s time to renew the policy and pay your premium.
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Your auto policy will cover you and other family members on your policy, whether driving your car or someone else’s car (with their permission). Your policy also provides coverage if someone who is not on your policy is driving your car with your consent.
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Basic personal auto insurance is mandated by most states and provides you with some financial protection in case of an accident. But is it enough? What are the options? Learn how car insurance works and what types of coverage are available."
Recreation
"Recreational insurance covers a variety of vehicles. These may include motor homes, campers, trailers, ATVs, dirt bikes, snowmobiles, golf carts, scooters, mopeds, and dune buggies. These vehicles may be used on
your property, but they are often used in public areas as well.
Recreational insurance can provide you with the following coverages.
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Collision coverage
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Medical payments coverage
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Safety apparel coverage
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Increased liability limits
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Optional equipment coverage
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Coverage for trailers used for transporting
Having the right kind of recreational insurance can be essential in
giving yourself peace of mind when enjoying outdoor activities.
Your recreational vehicle is an enjoyable part of your lifestyle.
It’s also an investment and can lead to potential risks.
While recreational insurance is not required by law, it can be a good idea for individuals who participate in activities that carry a risk of injury. This type of insurance can help give peace of mind in knowing that financial assistance is available if an injury or accidental death does occur.
Four types of recreational coverage you might need are:
Watercraft, Motorcycle, ATV, Travel Trailer & RV.
Additionally, some policies will cover loss due to theft or vandalism,
and emergency roadside assistance should your vehicle break down while on a trip.
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Recreational insurance can also help prevent financial ruin due to medical costs if someone gets hurt while using your recreational vehicle or equipment. Medical bills can add up quickly, so having the right coverage can help protect you from incurring out-of-pocket costs.
Accidents can happen at any time, so it’s important to have collision or physical damage coverage on your recreational vehicle. This coverage will pay for damage to your vehicle regardless of who is at fault."
