Property insurance, also known as homeowner’s insurance help protect your tangible assets. Homeowner’s insurance policies cover your home, apartment, or investment property whether you are the owner and live there or you are a renter. A proper homeowner’s policy will pay to replace your personal property that is lost due to fire, theft, or any other covered disasters. These policies will also help cover you if someone is every injured on your property and you find yourself defending against a lawsuit.
The cost of coverage is determined by a multitude of factors. The protection of the coverage, however, is often determined by the quality of the insurer and whether the policy covers named perils or covers an all-risk basis. Named perils only cover specific perils listed in the policy while an all-risk policy works to cover all risks unless something is specifically excluded. The all-risk policy is broader and the burden of proof is on the carrier, not you, in the event of a loss.
Auto insurance or car insurance coverage typically consists of two parts. The first part of most auto insurance policies is the liability section of the policy. Liability covers your financial responsibility in the case where someone else is injured. Liability coverage is required by most states and the amount required can vary from state to state.
The second part of an auto insurance policy covers the car itself. This is called comprehensive and collision coverage and it typically reimburses loss caused by fire, theft or other perils, as well as paying to repair losses caused by an accident. This type of coverage is often times required by finance companies or leasing companies when you purchase the vehicle.
Car insurance may also have additional services that can be added onto your policy to cover medical expenses, car rentals, towing, and even roadside assistance and these coverage’s can vary by state as well.
Auto insurance policies also come with a deductible. This is the amount owed by the policy holder before coverage begins. Using higher deductibles can help to reduce premiums however some finance and lease companies require a set deductible for coverage. If you carry umbrella insurance, you must be sure that you carry the required amount of basic liability insurance to avoid a gap in coverage in case of a serious accident.
If you combine your automobile insurance with you property insurance you can save a substantial sum.
Great coverage begins with a custom quote. Understanding your coverage options is easy with Armellino Agency. If you drive, then you know you need automobile insurance. If you own property, then you need property insurance.
Your greatest investment comes when you combine coverage.
Do you need to insure more than one car or vehicle? Use our multi-auto form for ease of use and convenience.
Do you need to insure more than one car or vehicle? Use our multi-property form for ease of use and convenience.