Women’s Guide to Insurance, part 2.


Insurance Types

You essentially have three avenues to purchase personal and business insurance: telemarketing companies (who use sales people via 800 numbers), captive agent companies (who employ agents to represent only their insurance company), and independent insurance agents. For you, Trusted Choice® independent agents mean access to numerous options that lead to the best combination of coverage, service and price.

Tailor The Right Coverage

Property/Liability Insurance

Provides protection for your home, automobile and household or other possessions, and from claims against you for something you did or failed to do which resulted in physical or financial loss to the person filing the complaint.

Life Insurance

Pays money to the person(s) or organization(s) named as a beneficiary by the policyholder if the policyholder dies. Some life insurance policies also function as investment vehicles by accruing value as premiums are paid or by replacing estate assets depleted by inheritance taxes. Your employer may provide basic life insurance for employees during their tenure with the company. Often, employees are advised to maintain some level of separate coverage if their employer’s coverage is not adequate. A personal policy also is good insurance in the event that you are laid off and, due to health problems, would not be able to get coverage for a new life insurance policy.

–Pays money to the person(s) or organization(s) named as a beneficiary by the policyholder if the policyholder dies. Some life insurance policies also function as investment vehicles by accruing value as premiums are paid or by replacing estate assets depleted by inheritance taxes. Your employer may provide basic life insurance for employees during their tenure with the company. Often, employees are advised to maintain some level of separate coverage if their employer’s coverage is not adequate. A personal policy also is good insurance in the event that you are laid off and, due to health problems, would not be able to get coverage for a new life insurance policy.

Health Insurance

Covers costs related to your health and your family’s health, such as doctor visits, hospital expenses and diagnostic tests. While many employers provide some level of health insurance, you may need to supplement the coverage or, when self-employed, secure health insurance for you and your family.

–Covers costs related to your health and your family’s health, such as doctor visits, hospital expenses and diagnostic tests. While many employers provide some level of health insurance, you may need to supplement the coverage or, when self-employed, secure health insurance for you and your family.

Disability Insurance

Pays the individual(s) covered for income lost due to a disabling injury or illness. It enables your earning power to continue even if your earnings do not. Again, some employers offer basic disability insurance that covers extended illnesses, but you need to determine if the coverage is long or short-term to adequately meet your needs.

–Pays the individual(s) covered for income lost due to a disabling injury or illness. It enables your earning power to continue even if your earnings do not. Again, some employers offer basic disability insurance that covers extended illnesses, but you need to determine if the coverage is long or short-term to adequately meet your needs.

Long Term Care Insurance

Provides coverage for skilled and custodial care in a nursing home. Some policies also may cover home health care expenses. You can purchase coverage for yourself, your spouse and your parents to offset the costly expense of nursing home care, which most people pay out of their savings. Policy costs are determined by the age and health of the individual, type of care and other factors.

–Provides coverage for skilled and custodial care in a nursing home. Some policies also may cover home health care expenses. You can purchase coverage for yourself, your spouse and your parents to offset the costly expense of nursing home care, which most people pay out of their savings. Policy costs are determined by the age and health of the individual, type of care and other factors.

Government Benefits

The government offers several types of supplemental insurance to the elderly, retirees, disabled and disadvantaged individuals. Programs include health care, disability, and compensation to laid-off or injured workers. This insurance provides only minimal base coverage. Individuals receiving government benefits should consult their independent insurance agent to determine proper coverage to meet their needs.

–The government offers several types of supplemental insurance to the elderly, retirees, disabled and disadvantaged individuals. Programs include health care, disability, and compensation to laid-off or injured workers. This insurance provides only minimal base coverage. Individuals receiving government benefits should consult their independent insurance agent to determine proper coverage to meet
their needs.

Your Trusted Choice® independent insurance agent can offer more information regarding the limits and types of coverage required by you, your family and business.

Driving Coverage For Your Automobile

Automobile insurance protects you, your family and your vehicle in the event of injury or damage resulting from an array of occurrences. Your policy will cover the cost of repairs or replacement and furnishes protection against personal liabilities. Your Trusted Choice® independent agent can tailor a policy that meets your needs and provides several types of insurance coverage, including:

Liability

Covers injuries and damage you cause to other people or their property while operating an automobile;

–Covers injuries and damage you cause to other people or their property while operating an automobile;

Collision–Covers damage to your vehicle in an accident;

–Covers damage to your vehicle in an accident;

Comprehensive

–Covers damage to your vehicle from fire, break-ins, vandalism, theft and natural disasters;

–Covers damage to your vehicle from fire, break-ins, vandalism, theft and natural disasters;

Medical Payments

–Covers emergency and related medical payments for you and your passengers, regardless of who is at fault;

–Covers emergency and related medical payments for you and your passengers, regardless of who is at fault;

Uninsured Motorists and Underinsured Motorists

–Protects you and your passengers in an accident with drivers carrying insufficient or no liability coverage; and

–Protects you and your passengers in an accident with drivers carrying insufficient or no liability coverage; and

Additional Coverages

–Pays for expenses such as towing, labor, “no-fault” coverage, etc.

Protecting Your Personal Property

Homeowners insurance provides coverage for damage to structures and personal property.  Coverage includes protection from damage caused by:

  • Fire or lightning
  • Windstorm or hail
  • Explosions
  • Riot or civil commotion
  • Aircraft and other vehicles
  • Smoke
  • Weight of ice, snow or sleet
  • Freezing of plumbing, heating, air conditioning or other household system
  • Theft or vandalism
  • Falling objects

This insurance covers the repair/ replacement of your property and furnishes protection against personal liabilities. Because your home likely is your most valuable asset, it is critical to insure it properly. For example, if you live in a geographic area prone to certain weather problems–such as floods, earthquakes or hurricanes–you need special policies to protect your investment.

In addition, you should be aware of monetary limits on groups of items, including jewelry, artwork, some furnishings, etc. You can purchase additional insurance, usually by endorsement, by listing items that fall outside the limits. Based on the value of your property, the cost of the endorsement is often minimal and outweighs the risk of leaving family heirlooms, equipment and prized possessions  underinsured.

You also have the option to insure your personal property for the actual cash value or the replacement cost, which determines the amount of compensation you receive. Replacement value enables you to replace property at the current market price, regardless of its age or condition; whereas, under actual cash value coverage, depreciation for age or condition is deducted from the replacement cost, reducing your compensation.

Renters insurance provides coverage for your personal property when you pay to live in a building owned by someone else. Personal property includes all of your household possessions. You are protected from disaster by a policy tailored to meet your needs and based on the value of your belongings. Similar to homeowners insurance, there are monetary limits on groups of items, coverage can be supplemented with endorsements and you have compensation options.

Whether you own or rent your home, your policy should include liability coverage. This important coverage protects you against claims of bodily injury or property damage that result from your  negligence and may prompt a lawsuit. These claims can be caused by any non-auto incident that occurs on or off your premises,
such as a dog bite or slippery sidewalk. Coverage also includes medical payments for the injured person, such as first aid or emergency room treatment. You need to consider a limit of liability sufficient to protect you for the cost of a lawsuit and today’s high medical bills.
Backing Your Business

Commercial or business insurance offers property and liability coverage whether you operate from your home or another location. While homeowners insurance may cover business property within specified limits, it typically is insufficient and does not protect against lawsuits related to your business activities. Selecting the right insurance is just as important as the choices you make for
company stationery, equipment or services. Your Trusted Choice® independent insurance agent can help you review your options and tailor coverage that best meets your needs.

Ensure Your Financial Protection

Insurance is an important component of your financial planning. It is the safeguard to protect you, your family, your home and other possessions, and your business from financial disaster in the event of a catastrophe. As your life changes, so do your insurance needs. An Trusted Choice® independent insurance agent can assist you in matching insurance protection to your specific situation.
Personal service–based on an understanding of your needs and your goals–is the hallmark of Trusted Choice® independent agents. For you, it means protection and peace of mind.

Various factors significantly impact the types and comprehensiveness of insurance you and your family or business require.

–Pays money to the person(s) or organization(s) named as a beneficiary by the policyholder if the policyholder dies. Some life insurance policies also function as investment vehicles by accruing value as  premiums are paid or by replacing estate assets depleted by inheritance taxes. Your employer may provide basic life insurance for employees during their tenure with the company. Often, employees are advised to maintain some level of separate coverage if their employer’s coverage is not adequate. A personal policy also is good insurance in the event that you are laid off and, due to health problems, would not be able to get coverage for a new life insurance policy.

–Covers costs related to your health and your family’s health, such as doctor visits, hospital expenses and diagnostic tests. While many employers provide some level of health insurance, you may need to supplement the coverage or, when self-employed, secure health insurance for you and your family.

–Pays the individual(s) covered for income lost due to a disabling injury or illness. It enables your earning power to continue even if your earnings do not. Again, some employers offer basic disability insurance that covers extended illnesses, but you need to determine if the coverage is long or short-term to adequately meet your needs.

–Provides coverage for skilled and custodial care in a nursing home. Some policies also may cover home health care expenses. You can purchase coverage for yourself, your spouse and your parents to offset the costly expense of nursing home care, which most people pay out of their savings. Policy costs are determined by the age and health of the individual, type of care and other factors.

–The government offers several types of supplemental insurance to the elderly, retirees, disabled and disadvantaged individuals. Programs include health care, disability, and compensation to laid-off or injured workers. This insurance provides only minimal base coverage. Individuals receiving government benefits should consult their independent insurance agent to determine proper coverage to meet their needs.

–Covers injuries and damage you cause to other people or their property while operating an automobile;

–Covers damage to your vehicle in an accident;

–Covers damage to your vehicle from fire, break-ins, vandalism, theft and natural disasters;

–Covers emergency and related medical payments for you and your passengers, regardless of who is at fault;

–Protects you and your passengers in an accident with drivers carrying insufficient or no liability coverage; and

–Pays for expenses such as towing, labor, “no-fault” coverage, etc.

 

Part 1 published November 2nd.

 

Call us or email us! We’re here to help!! 254-662-4171, or service@billhaddoxinsurance.com

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2 responses to “Women’s Guide to Insurance, part 2.

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