Your house is more than four walls and a roof. It can provide you with financial security. And, it’s probably your biggest investment. Inside those walls are possessions and valuables that make your house a home-and those items need protection as well.
A standard homeowners policy safeguards your home and possessions against:
- Sudden and accidental damage from electrical current
- Fire and lightning
- Windstorms and hail (This may be excluded for some coastal homes and must then be purchased as a separate policy.)
- Smoke damage
- Glass breakage
- Falling objects
- Weight of ice, snow or sleet
- Accidental discharge of water or steam
- Vandalism and malicious mischief
Homeowners insurance doesn’t only apply to those who own a single-family house. If you own a condominium, have combination dwellings, rent an apartment or if you have a second home, you can also buy insurance specifically designed for your circumstances.
Condominium & Rental Properties
If you rent an apartment or own a condominium, you need insurance to protect your belongings. While your landlord or condo association might have insurance, it may only protect the building. Your belongings are probably not covered under those policies. There are several types of residential insurance policies. The HO-4 policy is designed for renters, while the HO-6 policy is for condo owners. They both cover losses to your personal property.
Just like personal auto insurance, motorcycle insurance offers similar property and liability coverages.
Watercraft insurance policies provide coverage for physical damage caused by a collision, fire, theft, windstorm, lightning, vandalism, and others. This coverage is broad and often includes machinery and auxiliary equipment, outboard motors, boat trailers and other personal property. Additional coverages are available as well, such as Personal Effects, Boat Liability, Medical Payments and Commercial Towing and Assistance.
For most of us, our cars are one of the biggest investments we make and to experience a loss could be financially devastating. Auto insurance can cover more than just the repairs on your vehicle. Depending on the coverage you choose, your insurance can:
- Cover medical expenses associated with an accident
- Pay for losses caused by underinsured or uninsured drivers
- Reimburse you for damages suffered because of vandalism, natural disasters or theft
- Pay for legal representation in case of a lawsuit
Figuring out which coverages make sense for you can be confusing. That’s why it’s important to discuss your needs with an insurance advisor who can recommend coverages that are right for you and help identify whether you qualify for any of the auto discounts we have available.
Umbrella liability coverage protects you from financial catastrophe due to lawsuits. It offers additional protection above and beyond your standard homeowners and auto policy limits and helps eliminate any gaps in your coverage. This type of policy can help ensure you are safeguarding your possessions, savings, and your future earnings.
Need insurance Laredo? Steve R. Trautmann Insures Laredo.