Everyone needs some level of personal insurance. Most of us need to purchase auto insurance, homeowners or renters insurance, life insurance, and maybe personal umbrella coverage. There are some many choices that at times you may wonder which is best for you and your family. We put together a list of questions you might think about as you consider your personal insurance. We always recommend you review your personal insurance annually to make sure it is still meeting your needs.
Do Agents Offer Something Different?
We would answer that as a yes because, agents have access to different kinds of insurance companies, they offer you a choice and work to provide the best possible combination of coverage price and service. Agents are a small business whose goal is to look out after their clients.
If I Rent, Do I Still Need Insurance?
Renters should purchase renters insurance to protect their personal property like; furniture, guns, electronics, and clothes. Your apartment owner may also require liability coverage, which can be included in renters insurance. Renters insurance is very affordable and can be an effective way to make sure you are covered in the event of a loss.
When Should I Consider Life Insurance?
Life insurance is something you might consider when you get married or start having children. Some employers offer a small amount of life insurance, but these plans generally are not enough. Life insurance can provide peace of mind to loved ones in the event of an untimely death of a breadwinner. Life insurance proceeds can be used to fund college, pay for outstanding bills, and/or to supplement lost income for a period of time.
Life insurance premiums are at all time lows so it can be a very cost effective financial planning tool.
I Am Remolding My Home, Do I Need To Adjust My Insurance?
If your insurance is written on a replacement cost basis, there may be no need to make adjustments, but we always recommend you contact your agent to review this question. The answer depends on the kind of work you are doing. For example, if you are replacing your carpet with a similar product, you may not need to make any changes in your policy. But if you are adding a 500-foot addition on to your home, then this would definitely require adjustments in the value of your home.
I Have A Home Based Business, Should I Get Additional Insurance?
Homeowners or renters insurance policies do not cover any business risks. If you run a business out of your home, we recommend you purchase a business insurance policy. If you have customers in your home for business purposes, your home insurance does not provide any coverage. Depending on the type of business, coverage may be added to your existing homeowner’s policy through a rider or endorsement.
I Just Bought A Personal Watercraft, Is That Covered?
Unlike small boats, personal watercraft are not generally covered by your homeowners This would include; bodily injury to you that is caused by an uninsured watercraft operator. The legal costs if you're sued due to an accident. And any damage to the personal watercraft you own.
At Innovative Insurance Services LLC, we believe our greatest asset is the relationships we build with our clients and we are dedicated to being the right choice for all of your insurance needs. We take pride in our ability to tailor a comprehensive insurance package that maximizes your insurance protection while minimizing money out of your pocket. As an independent insurance agency we are affiliated with multiple industry-leading companies. It is these partnerships that allow us to provide our clients with better coverage at a competitive price. Our staff is knowledgeable and committed to providing a quality customer service experience to our valued clients.