What Does Insurance Do, and Why Do I Need It?
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Accidents happen. Some can be avoided but some—such as natural disasters—are beyond our control. How will you pay for the costly damage that results from such unpredictable events? Insurance can keep you from paying for damages out of your pocket. You pledge to pay an insurance premium and the insurance company pledges to pay for the expense of your accidents.
The State of Florida requires that you have liability coverage of at least $10,000 protection for personal injury and $10,000 protection for property damage. You may want to get higher coverage to prevent paying significant out of pocket fees in the event of a major accident. Medical coverage will also help cover the costs of physical injuries and may even provide funds for lost wages.
You can protect your car against theft and damage from single vehicle crashes or other incidents with property coverage. This type of coverage is not required by law, but it can come in handy by saving you money on repairs or replacement costs for your vehicle.
If you are paying off a mortgage, chances are the lender requires you to have home insurance. Even if your home is paid for, it's a good idea to protect it with home insurance. A standard policy will cover damage to your home and the assets you have in it.
Your home insurance, however, will likely not cover expenses resulting from a flood. Flood insurance must be purchased separately. Call Maria Yoder Insurance for more information about how you can fully protect your home against loss.
Do you rent but still want to protect your assets from theft or damage? Renters insurance is designed to take care of that. Many rental properties require tenants to invest in a renters insurance policy.
For more information about insurance and the plans available to you, call Maria Yoder Insurance and request your free quote today.