Different Types of Coverage
If you should determine that you need any of these supplemental options, you should check with your insurance agency to find out whether they offer the coverage in question. Not all underwriters offer these policies. You may have to get these supplemental offerings from other agents.
If you have a dog, then you might want to purchase a dog bite or "pet liability" plan. While you might think that your four-legged friend would never harm anyone, there is always a chance that it could happen. According to the Insurance Information Institute, half of all incidents happen on the owner's property. While homeowner's liability may cover the medical costs, there can be complications, such as when incidents happen away from home. Having a specific dog bite policy will handle any unforeseen problems.
Those who live in coastal areas will want to get flood insurance. This protects your belongings from damage due to floods. What most homeowners don't realize is that traditional homeowner's plans do not cover this damage. That is why it is important to purchase these policies separately.
Burial coverage gives your surviving family members money to pay the cost of your funeral and burial. The cost is nominal, totaling only a few dollars a week or month. This policy is not often sold through a traditional insurance agency. You will either have to go to a broker or purchase from a funeral home.
Personal electronic equipment policies give you more protection than the standard homeowner's plan. A traditional plan does not cover damage caused by installation errors. These programs offer repair or replacement of electronics such as computers, stereos, and televisions.
If you have valuable items like jewelry or high-end electronics, then you want to have supplemental coverage. While your homeowners plan does cover some items in the event of fire or theft, it does not cover everything.
Some businesses offer their full-time employees short-term disability. However, if your company is not one of those groups, you should look into having short-term disability added. Medical plans will help to cover bills from doctors and hospitals, but it will not help to cover normal monthly bills that can pile up if you have to miss work. While not all short-term disability programs are the same, it is something you should check into to ensure that you don't fall behind on your bills.
You need to research and understand the different types of coverage available to you. If you are unsure, an insurance agency can assist you in finding the information you require.
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