There are many types of insurance in today’s day and age, and it comes in many shapes and sizes, from auto insurance to umbrella insurance.

The most common type of general personal insurance is car insurance. Car owners purchase car insurance so that if there is an accident, their vehicle gets fixed, and their medical bills are paid.

Even though most states require you to have some level of financial protection on your vehicle before you can register it, not all companies make it easy. In addition, people often have a lot of misconceptions regarding what is actually required or needed when it comes to insurance policies.

The page will explain the various types of insurance our agency sells, including auto, home, condo/renters, motorcycle/ATV/UTV, umbrella, life, RV and trailer, boat, and flood.

Types of Insurance

Auto Insurance

Insurance companies offer different policies depending on what you need covered on your car or truck. There are liability-only policies that cover injuries or vehicle damage to others that result from accidents involving your car or truck. Some policies cover bodily injury to those involved in an accident. In addition, there are comprehensive and collision policies that cover damage to your vehicle.

If you have a financed car or truck, then chances are you may want to carry GAP insurance as well. This coverage is there to make sure that if your vehicle is totaled in an accident, you don’t end up owing the bank or credit union any money.   

Home, Renters, & Condo Insurance

Home insurance policies are broken down into two different categories, dwelling and contents. A dwelling policy covers the actual structure of your home along with any attached structures, including decks or patios, while a contents policy is for all of the things you have inside your house, such as furniture, computers, clothing, accessories, etc. Most often, these are combined into one homeowners insurance policy, which also provides liability coverage, among other things.

A renters policy covers personal belongings if they get destroyed or stolen by fire, smoke damage from cooking fires, or similar accidents. It also provides liability coverage if someone gets injured on the property and decides to sue you – it covers anywhere from $100k to $300k worth of protection, depending on which state you live in.

The last type of property insurance is condo insurance. This policy covers the interior structure of the building you live in. It also provides liability protection should someone get injured.

Motorcycle, ATV, and UTV Insurance

There are different policies available depending on what type of vehicle you own. Motorcycles, ATVs, UTVs, and Side-by-Sides, are similar in that they are not insured under a standard car or truck policy – there are specific policies available depending on what type of vehicle you have.

Life Insurance

Term Life insurance is the most common type of life insurance policy purchased by people today. It provides coverage for those who depend on you financially, such as your spouse and children.

A term life policy doesn’t have a set time frame – it pays out until you pass away but doesn’t build any cash value. On the other hand, a whole life policy builds cash value over time – this means that when you die, your beneficiary(ies) will receive more money than what you paid in premiums.

Flood Insurance

Floods are one of the deadliest natural disasters that can occur inside of the United States. If you live in an area at risk of flooding, you will need to purchase flood insurance.

Umbrella Insurance

Many people are surprised when they find out that umbrella insurance is actually a thing – it provides additional liability coverage if something happens where their current policy won’t cut it. In addition, the umbrella provides an extra layer of protection once the underlying limits have been exhausted.

RV & Trailer Insurance

RV insurance includes physical damage and liability coverage while driving your RV or hauling your trailer and while it is parked at a campground or park.

Boat & Watercraft Insurance

A boat insurance policy provides coverage for both the boat itself and any personal property that is on board while you are out enjoying yourself on the water.

Summary

As you can see, when it comes to insurance policies, there’s more than just auto and home. Unfortunately, most people only think about those two policies but neglect other important insurance such as motorcycle/ATV/UTV, umbrella, life, RV and trailer, boat, and flood.

If you have questions, please don’t hesitate to give us a call.