Home and Auto Insurance are the types of insurance that protect against property losses to your home, auto, business, and against losses that may result from injury or damage to the property of others. Here are the basics of the different types of Property & Casualty insurance available.
This protects your home and belongings against covered perils, such as theft, and acts of God such as fire, lightning strike, and hail to name a few. It typically includes liability coverage, which may help protect you in the event that you are found legally responsible after someone is injured at your home or if you cause damage to someone else’s property.
This protects you, your passenger(s) and your vehicle in the event of an accident or another event in which physical injuries occur to people or their vehicles. Drivers in most states are legally required to have liability coverage. Additionally, comprehensive and collision coverage may be required by a lender.
Insurance companies often give discounts for bundled coverage. Get both your homeowners and auto insurance together and save money!
Pays for damages to watercraft and injuries to other boaters. Can pay for boat repair, and even towing. While a boat or personal watercraft may be able to be added to your homeowner’s policy, usually your homeowner’s policy only covers physical damage while the watercraft is actually on your property.
Protects you in the event of a motorcycle accident by providing liability coverage when you are responsible for another person’s injuries or property damage. Replaces or repairs motorcycle from loss, theft or damage if comprehensive and collision are in place.
ATV’s are sometimes covered on your homeowner’s policy when they are used for maintenance of the property, however in NC, when used for recreational purposes liability coverage is additionally required. Due to the large variety of RV types and usage – some are used for camping while other are an actual residence, there is a vast difference in the coverage they require.
Umbrella coverage provides a cushion for additional coverage that picks up where liability limits on a home or auto policy leave off. An example would be the protection of home and assets against a suit where the homeowner has caused injury to someone on, for example a bicycle.
If you are renting a home, renters insurance helps protect your personal property (furniture, clothing, electronics, etc.). Typically includes liability coverage if you are found responsible for damages to someone else’s property, or a guest’s injuries in your rented home. Coverage may also help pay for increased living expenses for a temporary relocation due to loss. Landlord typically has a policy to protect their building and their personal property but not your belongings as a renter.
General Liability Insurance protects your business from another person or business’s claims of bodily injury, associated medical costs and damage to property. Some examples are: bodily injury, property damage, and personal injury.
This provides coverage for a business owned, leased or hired vehicles, including trucks and trailers. Commercial auto insurance also provides broad protection that can be important to many people, including truck drivers, snow plow operators, tow truck drivers, couriers, business owners, and even pizza delivery guys.
Sometimes called workers’ comp or employers liability insurance, covers employees’ medical expenses and at least some portion of lost wages if they are injured on the job. Most states require companies to purchase workers’ compensation insurance for their employees.
Contact me today to discuss P&C needs for your home or business!