Areas of Insurance
Homeowners / Auto / Umbrella / Motorcycle / Boat / RV
Homeowners
Homeowners insurance provides coverage for a range of risks that you may face as a homeowner that otherwise can be financially challenging to cover out of pocket. These include:
Property damage: Includes damage and destruction to your residence and/or detached structures. You will receive compensation, up to the limits of your policy if your house is damaged.
Personal property loss: Includes damage or theft of personal property, up to your set policy limits for covered circumstances, which (typically excludes flooding, earthquakes, and personal negligence). If your personal property is very valuable (such as collectibles or antiques) you’ll likely need additional “riders” or special endorsements on your policy.
Personal liability: If you, your family member, or even your pet causes an accident, injury, or property damage, your homeowner’s insurance can protect you. Whether the issue requires medical care or repair of property you will typically have coverage up to your liability limits.
Added living costs: If your house is uninhabitable, your homeowner’s insurance can pay for alternative living arrangements while your home is repaired or rebuilt.
Auto
There are several categories of auto insurance, each of which covers a different aspect of your risk as a driver. Here is a brief overview of these coverages:
Liability: If you are deemed at fault in a car accident, liability coverage will pay for repairs, medical costs for injuries suffered by others in the vehicle, plus other expenses related to the accident such as legal fees. Your liability limits are set at the time you purchase your policy.
Collision: If you hit another vehicle or an object, your collision coverage will pay for damage or repairs to your vehicle after you pay a deductible (up-front amount).
Comprehensive: Comprehensive coverage, which is also known as "other than collision," pays for losses to your vehicle if it suffers damage from something other than an accident.
Medical expenses: This coverage pays for injuries that you, a family member, or anyone else riding in your vehicle may suffer in an auto accident regardless of who is at fault. It also pays for injuries that you or your family members may incur while riding in other vehicles.
Roadside assistance: Many insurance companies offer this optional coverage. If you need a tow or service for a flat tire or dead battery, roadside assistance will provide that service for a nominal premium.
Rental reimbursement: If your car is in the shop for several days and you need a vehicle, this coverage will provide a rental for you for a nominal premium.
Umbrella
An umbrella policy provides additional coverage or “excess liability” above the limits of your basic policies. It can protect you from bodily injury liability claims and property damage liability claims.
Umbrella policies also provide a broader form of coverage and can help cover legal fees, false arrest, libel, and slander.
Motorcycle Insurance
A standard motorcycle insurance policy will cover some portion of the costs associated with damage to your bike. It will also provide compensation in the event that you cause harm to another person or their property or have legal fees to pay an accident.
Known as “bodily injury and property damage liability,” your motorcycle liability insurance covers the cost of liability claims and legal fees, up to the limits of your policy if are at fault in an accident.
Boat Insurance
Your boat insurance policy may include the following:
Collision damage: Includes repair or replacement of your boat, but may or may not include clean-up of wreckage unless you purchase optional additional coverage.
Property damage liability: Covers damage you might cause to someone else’s boat, a dock, or other property or structures.
Bodily injury liability: Covers injury you might cause someone while using your boat; includes medical bills, lost income, pain and suffering, and legal expenses.
Comprehensive: Provides compensation if your boat is vandalized, stolen, or damaged in an incident other than a collision.
Additional coverage options: Coverage for medical payments, fishing equipment, oil spills, personal property, and roadside assistance, as well as damage and injuries from accidents caused by boaters who are uninsured or underinsured.
RV Insurance
RV insurance covers many of the similar risks that auto insurance does, including collision, comprehensive, and liability coverage. You can also get additional protection for your personal belongings on board, equipment, and attached accessories such as awnings and satellite dishes.
Depending on the insurance company you choose your additional coverage options may include:
Total loss replacement coverage
Campsite and vacation coverage
Emergency expenses
Towing and roadside coverage
Full-timer coverage if your RV is your full-time residence
Uninsured and underinsured motorists coverage