Insurance is something we often think of only in a time of need. You may be involved in a car accident and need to call upon your auto insurance policy to repair any damages. Or maybe your home flooded and you have to get into the details of your homeowners’ policy. Or maybe you are planning for loved ones and choose to open a new life insurance policy. In any case, insurance is important and is used by millions of people.
There are, however, types of understated insurance coverages you should consider. Below are 3 types of insurance you should try to become familiar with.
As part of a homeowners’ insurance policy, you should consider flood coverage. This is especially true if you live in an area with a high likelihood of floods. As an example, Yuba City experienced tremendous flooding from an overflowed dam that resulted from unexpected rain in 2017. As a result, many homeowners had to look to their insurance policy to see what was covered. Now, most residents in the area and those close to the dam have a flood insurance policy.
If you live in an area where water is abundant or the chance of an accident could happen, layer on flooding coverage to your insurance policy.
Commerical Trucking Insurance
Whether you drive a truck or operate a trucking company, you need insurance. Like any business entity, a trucking company is required to have a general liability policy to cover its vehicles. The drivers themselves need to have coverage, but the company should also plan to have a policy. Try to take out a policy that will cover all of your equipment in the event accidents happen or the semi-trucks become damaged. This is especially important in areas of the country where weather impacts the fleet of trucks. Also, to be sure your company is safe, make sure your drivers comply with all state laws including DMV requirements for truck drivers. And in the state of California, you will need to have your drivers complete a DOT physical exam too.
If you find yourself renting a home or apartment, you need to keep yourself covered. Most landlords don’t mention this type of insurance to their tenants, and it is completely up to you to cover your belongings. Let’s say, for instance, the home you rent is broken into and personal belongings are stolen. It is in no way the responsibility of the landlord to pay for your losses or even acknowledge the losses. To prepare for this type of incident, you need to take out a renter’s policy. You’ll pay a small premium each month for proper coverage.
Talk with Your Insurance Agent
The first step to really understanding if you need any of these types of coverages is to meet with your insurance agent. Your insurance broker will review your current policies and decide what you might benefit from. You can also convey any concerns you have and attain new coverages. If you don’t have an insurance agent already, hop onto Google and search for insurance agent near me to get a list of brokers in your area.
Remember, it’s best to prepare and have the right policies in place in case anything happens.