Your home and autos are large purchases that affect your life. You will want to protect them with the best kind of insurance policy that you can find. Here are some things that you will want to have on each one of your policies.
The Important Parts of Your Home Insurance
Home insurance is designed to help pay for expensive damages that are caused from perils that are out of your control. The roof of your home could be damaged in a thunderstorm, or you could lose personal belongings in a fire. To protect yourself better on your home policy, consider adding the following to your policy.
- Replacement Cost - This coverage will ensure that your personal property will be replaced with like-new items instead of being depreciated because of age.
- Inflation Protection - Everyone knows that the cost to buy construction material keeps going up. This benefit automatically raises your dwelling coverage a certain percentage each year so your policy is always current.
- Liability Protection - Keep this benefit high enough to cover the cost of a lawsuit. Any person that comes onto your property and gets hurt could make you pay for their injuries. Liability protection takes care of the cost of such a claim.
The Important Parts of Your Auto Insurance
Auto insurance has long been a favorite of drivers everywhere. From the late 1800's people have been purchasing this kind of policy to protect their investments. Here are some things that you will want to have on your policy.
- Gap Protection - Most people will have to take out a loan to buy a new car. To protect yourself from having to pay the depreciation amount of your car, gap insurance can be used to cover that hidden cost. The amount you would have to pay is the difference between the value of the car and the amount of the loan.
- Glass Benefits - The cost to replace a windshield can easily reach $1,000. Glass coverage on your policy will pay for the new glass, the time needed to install the glass, and the removal of the old glass, usually with no cost to you.
- Rental Car Coverage - Most people need their cars in order to get around. If you are in an accident and your car has to be repaired, then you could be without a vehicle for a week or more. Rental car coverage provides you with a replacement car until your car is ready to be picked up.
The coverage types that you have on your policy can make the difference if you are ever in an accident. Each coverage can help protect you from having to deal with financial matters that are out of your control. Take the time and review your policy to make sure it protects your family the way that it should.