Deciding If An Insurance Add-On Is Right For You


Insurance is a fact of modern life. Because of the plethora of insurance companies and policies out there, it is important to know what your policy covers, and if necessary what you can do to fill holes in your coverage. Some institutions will offer add-ons which you can buy in order to cover holes in your coverage; however, just because someone offers you an add-on does not mean that it is necessary. Take time to do research before you double up on coverage. 

Coverage for Electronics

Buying electronics can be pricey. If one gets stolen, you can be stuck paying the finance charges for electronics you no longer get to enjoy. To protect your electronics, you may want to put extra coverage on your electronics. Your homeowner's insurance may already cover what you have in your home. If you live in an apartment, renter's insurance should cover your loss. On the other hand, there may be some situations where you are living in a place where your belongings are not covered. This is where insuring your belongings can be a good idea. 

Personal Injury Insurance

If you have life insurance, it should cover any injuries you receive in your home. On the other hand, your insurance may not cover any injuries your guests sustain. This is where adding some personal injury insurance to your coverage can help. If guests at your home get injured, you can be on the hook for their medical bills. Rather than pay those bills out of pocket, your personal injury insurance should cover the costs. If you only occasionally have guests over to your home for dinner, then personal injuries may not be a problem, but if you have guests engaged in activities that could pose personal risk, then you need to make sure you have insurance to cover any injuries that might happen. 

Add-ons can help you to cover holes in your coverage, but if you don't have holes in your insurance, then adding add-ons to your insurance means you are paying double for coverage you already have. Thus, before you start paying for insurance add-ons, do a little research to make sure you really need them. While it makes sense to have insurance to cover all of the little unsuspected situations that come up in life, it does not make sense to look into your insurance to make sure you don't have any holes that could leave you paying huge bills. For more information, contact a business such as House-Chilson & Associates.


21 April 2015

Learning the Importance of Renter's Insurance

Having lost everything in a fire while living in my very first apartment, I learned the hard way just how important renter's insurance was. I did not have any renter's insurance and had no idea that it was something that I needed to have. I had counted on the owner's insurance to cover the cost of replacing my belongings if something like that would happen. Boy, was I wrong. The apartment I moved into next was owned by a much more helpful man. He actually helped me find the insurance company to open a renter's policy with. Now, I have the insurance I need and feel confident that if a disaster like that should strike again, I will have the coverage I need to replace my things.