Things You Must Know About Personal Insurance Policies

Personal Insurance Policies refer to a whole class of insurance policies which serve specific requirements. It is a collective name for a number of diverse policies which provide coverage for any personal items. You can buy a personal insurance for your home, an automobile or for the safety of your personal possessions. There are as many policies as you can imagine. If there is something to protect, there is an insurance policy for it.

Many policies are mere variations of the upper mentioned coverages. Such as student driver insurance, customized home insurance, auto insurance for a convicted offender etc. Many personal insurance policies are required by the law. For instance, majority of the States do not allow drivers to won or drive vehicles without a proper Auto Insurance.

Importance of Personal Insurance Policies

An Auto Insurance Policy provides protection in case of an accident. The level of coverage depends upon the type and extent of policy. This also determines the maximum limits of protection. Few additional options are;

• Third Part Only Policy. Such an insurance policy provides protection against the claims made by a third party for damage. It covers damage to their property and/or bodily injury. Remember, this policy will not cover damages to your personal vehicle.
• Third Party, Fire and Theft. It provides coverage against all the claims in above mentioned option. Moreover, it also covers any damage attributed towards fire or theft of your own personal vehicle.
• Comprehensive. This kind of policy provides coverage for any kind of damages done to your vehicle.

Almost every major personal policy can have extras. Such as breakdown cover, legal expenses and protected no claims bonus. That shows that your have a lot of option to create the perfect policy that suits your needs. A homeowner’s insurance is a pretty comprehensive policy. It protects your home, the building, contents and your personal possessions, as well as valuables.

Note: Get Access to the Best Personal Insurance Policies Near Me.

Such policies are very customizable. They are taken out only for the building, the contents, or the building and contents combined. The size and type of insurance policy depends upon your preference. You can even utilize certain additional options that are not traditionally offered. Such as protection against accidental damage. You can even gain an extra optional addition for the coverage of your legal expenses.

Types of Personal Insurance Policies

There are countless types of coverages under personal insurance policies. However, we offer the following policies to our clients, as they are the most important ones;

1. Auto Insurance

Auto Insurance is one of the most widely known personal insurance policies. It provides coverage to the automobile owners for the costs associated with a car accident. Upon buying this policy, you will be expected to pay a regular annual premium to the insurance company. Thus, any accident will receive the coverage to the full extent of the policy. Auto Insurance is legally required by vehicle owners in almost all states.

2. Home Insurance

A Homeowner’s Insurance is a form of property insurance. It provides coverage against damages to your residence and its contents. It also provides liability coverage for accidental incidences in the home, or the property. A typical policy covers damage to the exterior, as well as interior of a property. It also covers damage to personal assets or a physical injury. Like other personal insurance policies, it also has a limit which determines the amount of coverage you will receive.

3. Watercraft and Boat Insurance

Watercraft and Boat insurance policy provides coverage against damage to a personal watercraft. Generally, it includes towing, and wreckage removal. Some policies include fuel spill indemnification as well. The type of insurance policy differs with the type of boat. This policy does not cover liabilities for physical injuries. A Homeowner’s policy sometimes provide coverage for a personal watercraft. However, it is not always feasible. The protection in Homeowner’s policy is very limited compared to a dedicated policy.

4. Valuable Articles Insurance

A Valuable Articles Insurance provides protection to valuable objects and assets that are not covered under a Homeowner’s Policy. This protection could cover valuable medical equipment to expensive paintings and jewelry. Your most cherished possessions will have protection against any form of damages, theft, or loss. This is a personal insurance policy that is only necessary for those who absolutely require it.

5. Excess Liability Insurance

Excess Liability Insurance is a unique type of personal insurance policies. It has no original coverage. However, it provides an extension to the limits of an underlying personal insurance liability. It does not increase the scope, or coverage specifications of original policies. It merely provides higher limits on top of them. this insurance adds an additional layer of protection if a primary policy is exhausted of resources.

6. Home-Based Business Insurance

A Home-Based Business needs to be insured, just like any other business. It is a mistake to assume a Homeowner’s, or a Renter’s Insurance will provide coverage for a Home-Based Business. This is a necessary policy, which cover many liabilities for self-employed professionals. Additionally, your homeowner’s insurance provider will try to limit coverage if there is a business operating out of domestic property. This is a very valuable policy to own before opening a home-based business.

7. Vacant Home Insurance

A Homeowner’s Insurance Policy does not provide coverage if you leave your home for weeks at a time. You need to purchase a Vacant Home Insurance Policy for proper protection of a Vacant Residence. In the absence of such a dedicated policy, you will likely pay for any damages out of pocket. This policy will provide coverage for fire, liability, vandalism, or any other claim made over an unoccupied house.

8. Flood Insurance

Flood Insurance is specialty insurance. It provides protection against damage to your home and belongings from a flood. The standard property insurance policies, such as homeowner’s insurance, or corporate property insurance, do not provide coverage against floods. There are many areas which remain at a higher risk for floods. This policy becomes a necessity, more so than other personal insurance services, in such areas.

9. Mobile Home Insurance

Mobile homes are also called manufactured homes. They are mass produced in a factory and then moved to a specified location. Essentially, there is no difference between a mobile home and a small site-built house. Just like a regular house, a mobile home requires protection from many different elements. Mobile Home Insurance is specifically designed to address all such protections for a manufactured house.

Protect Your Property and Belongings with the Best Personal Insurance Policies in Texas

SG Financial Inc. is a provider of one of the Best Personal Insurance Policies in Texas. Your personal property and assets need just as much protection as your corporate interests do. Our policies are designed to make your life easy. Place your trust in us, receive good advice, and good insurance.