Personal Insurance

<b>What is Personal Insurance?</b>

What is Personal Insurance?

Personal insurance is insurance that protects the individual against personal risk. This might include financial protection against health, loss of earnings, death, and much more. Life can present sudden challenges quickly and without warning. When that happens the difference between having insurance and not could be the difference between no financial disruption and family protection to massive debt and family financial instability. Whether it's a personal injury or damage to someone's property some things can not be foreshadowed or stopped. That's why protection plans from auto insurance to earthquake insurance are used so widely by so many individuals.

Do I Need Personal Insurance?

Yes! Everybody needs personal insurance. However, everyone is different and each person may need a different type(s) of insurance and coverage. For instance, a homeowner in Florida is going to need different coverage than a college student in Kansas. This is because coverage for a college student living in a dorm would not be the same protection for a homeowner if there's a flood or roof leak. Just like how an eighty-year-old man would more likely need life insurance so his family is protected financially if he were to die than a twenty-year-old woman at peak health. Throughout our lives, uncertainty is a constant denominator and that means that we always have to be prepared financially for any potential disasters or risks. Thus, proper Insurance coverage gives us peace of mind when life undoubtedly presents unexpected situations.

What Types of Personal Insurance are There?

Knowing the difference between each type of insurance can be tricky, However, the best thing about insurance besides protection is the fact that there are so many different types of coverage. This is so that you can best choose the right protection for you. Here are five important types of personal insurance that most people have and use.

  • Life insurance

- Life insurance can help provide financial security to the family of the deceased by replacing lost income and helping with expenses.

  • Auto insurance

- Auto insurance financially protects against body or vehicle injury during a collision or vehicle incident.

  • Health insurance

- Health insurance covers a person's medical-related expenses in part or in full in exchange for a premium.

  • Disability insurance

- Disability insurance is a form of income protection. Guaranteeing a certain income in the case a worker is unable to perform their work because of their disability.

  • Home/renters insurance

- Homeowner's insurance protects against damage to an individual's house and assets. Renter's insurance protects against damage and theft to the renter's assets. These two different types of insurance both can protect against property damage, liability costs, theft, and more.

What is Personal Liability Insurance?

Personal liability insurance is generally used by those who could be held legally responsible for bodily injury or property in damage in and out of their home. Liability claims could include things like medical bills, accidental damage to someone's property, legal fees, and more. This type of insurance can often coincide with homeowners' or renters' insurance. For example, a guest at your home falls down the stairs due to the stairwell banner breaking and they have to go to the hospital. They then sue you for the medical bills. Liability insurance would ensure that you're not paying out of pocket and facing an unecessary financial burden.

What is Umbrella Insurance?

Umbrella personal liability insurance goes the extra step to make sure you are protected beyond the damage liability limits of your auto or home insurance plans. This insurance overarches your already existing coverage on your boat, home, car, etc. to make sure that if there was an injury to others or their possessions you would be covered. If you have significant assets that normal liability insurance limits don't entirely cover then Umbrella Insurance is a worthwhile investment.

Find out More

Deciphering which insurance is best for you can be confusing and overwhelming. That's why you don't have to go through this difficult process alone. Our team of professionals at Clemon-Maki Insurance can review your options with you and won't stop till you're satisfied with your new coverage. Get a quote by clicking the get a quote on our website or call us at 641-792-5040 if you have any questions about plans or coverage.