Considering what kind of personal insurance, you need can be perplexing because you need it for so many aspects of your life and business, including your vehicles, company, and home to begin with. The answers to the questions below may help you in determining the best insurance for your needs.
IS AUTO INSURANCE REQUIRED
You must have vehicle insurance for your car or truck, even if you own it outright, unlike home insurance.
WHAT IS AUTO BODILY LIABILITY COVERAGE, AND HOW DOES IT WORK?
This basic level of coverage only covers the medical costs of the other people involved in the accident, and it may provide legal protection if the other people decide to sue you for damages.
IS MY BOAT COVERED BY MY HOME INSURANCE OR DO I NEED TO BUY IT SEPARATELY?
Some types and sizes of boats are covered under a homeowner’s policy in a very restricted capacity. However, I want to emphasize that THE COVERAGE IS LIMITED. It's not a good idea to rely on your home's insurance to cover your boat. A separate policy built expressly for a boat is the right approach to insure a boat. Boat insurance is available from most carriers.
IS MY HOMEOWNERS INSURANCE COVERAGE GOING TO COVER STOLEN JEWELRY?
Most homeowners' insurance policies cover jewelry but with a specific limit. You may want to consider obtaining higher limits, which gives additional coverage for the jewelry, depending on its worth.
WHAT IS INSURANCE FOR WATER BACKUP AND SUMP PUMP FAILURE?
Water back up and sump pump failure coverage is an endorsement to a homeowner's insurance policy that covers property damage caused by water backing up into the house through pipes, drains, sewage, water service, sump pump, or any other sort of fluid transfer system from the house.
WHAT IS THE CORRECT LEVEL OF HOMEOWNER'S INSURANCE FOR ME?
This is one of the most common questions insurance brokers are asked, and the unpleasant response is "It Depends." There are many factors that go into determining how much homeowners insurance you need. To avoid getting too technical, I'd suggest that as long as your coverage is drafted and insured at Replacement Cost, you're good to go.
That doesn't necessarily mean you have the exact amount, but you're close. I would recommend consulting with an insurance professional to determine the right amount of homeowner insurance for your home.
DO I NEED INSURANCE IF I RUN A HOME-BASED BUSINESS?
Workers' compensation insurance may not be required for a small business, such as one or two employees working out of their homes, but it often requires additional property and liability insurance than a regular homeowner’s policy provides.
WHAT DISTINGUISHES CONDO INSURANCE FROM HOMEOWNER'S INSURANCE?
You are not buying the building when you buy a condominium; you are buying a unit within the building. You're probably also a member of a condo corporation that takes care of external structural issues. Homeowner's insurance protects both the structure and the contents of the house.
Call our office for a free review. Please contact us or give us a call to learn more. You can also request a quote if you’re ready to start on a policy. Valley oaks Insurance Agency is proud to provide insurance in Roseville, Sacramento, Lincoln, Granite Bay, Rancho Cordova, and Folsom, CA. We also serve other areas in the state.
The information shared in this blog is provided and written on an opinion basis and for informational purposes, they do solely represent the opinions of Valley Oaks Insurance.