By now, we all know (or at least, should know) the importance of having health insurance and car insurance. And if you’ve been following our blog, then you are aware that life insurance is for everyone and life insurance can provide retirement income. But unfortunately, there are other events that happen that can cause financial devastation.
There are two options to cover these unexpected events: Savings or Insurance.
Most people don’t have enough savings to cover the damages from the unexpected. Luckily, there are a variety of insurance policies that can help lessen the burden when the unexpected happens.
If you have a house, there is no doubt that you want to protect your, arguably, most valuable asset. Homeowner insurance policies don’t just cover structural damages to your house; they cover replacement of damaged or stolen belongings. Even if you think you don’t own much, having to replace all of the items in your house in the case of a catastrophic event would quickly add up to more than what most people have available.
Many homeowners are unaware that floods are not covered by a standard homeowners insurance policy. A separate flood insurance policy is needed, especially if you live in one of the FEMA identified flood zones.
If you don’t own a home, then you might want to look into getting a renter’s insurance policy. It will provide protection for the contents of your home as well as provide some liability insurance in case someone sues you. Rates are so low these days (most policies range from $75 to $300 per year) and the benefits far outweigh the cost of having to replace everything you own if anything goes wrong.
For more information on protecting your valuable assets and for getting piece of mind, contact us today and we can help you find the right homeowner’s insurance or renter’s insurance policy for you.