What Does Personal Insurance Cover?
- Homeowners insurance: covers loss or damage to your Home due to fire, storms and other perils (under coverage)
- Personal auto insurance: covers personal use vehicles and certain damage they do to others and their property
- Catastrophe insurance: covers major weather storm like hurricane/windstorm or hailstorms
- Umbrella insurance: covers additional liability coverage above the limits of your homeowners, auto, and boat insurance policies.
- Flood insurance: covers surface water or rising water that enters the home
- Boating insurance: covers personal use boats and certain damage they do to others and their property
- Renters insurance: covers the personal property as well as liability insurance should you be held responsible for an injury to a visitor in your home
What Does Business Insurance Cover?
Business Insurance refers to the coverage that protects companies from losses due to events that may occur during the normal course of business. There are many types of insurance for businesses including coverage for property damage, legal liability and employee-related risks. Companies evaluate their insurance needs based on potential risks, which can vary depending on the risks inherent in that company’s business.
Basic Business insurance coverage can include the following and more:
- Property insurance: covers loss or damage to your stuff due to fire, storms and other perils
- General Liability: covers claims for injuries to other people
- Professional liability: covers unintentional errors or omissions
- Commercial auto: covers vehicles used in the course of business. Liability to others as well as damage to the vehicles owned by the business.
- Cyber-crime insurance: covers the loss of customer’s sensitive data
- Surety Bonds: covers the responsibility for another's performance of an undertaking.
Life & Health Insurance
Protect what matters the most, Life insurance provides a death benefit for an individual’s beneficiaries.
Like Life Insurance, Health Insurance is a valuable asset when it comes to safeguarding you and your family. Having proper health coverage will protect you from financial hardships that could arise if you or a family member are sick or injured.
What's the difference between cancellation and non-renewal?
There is a big difference between when an insurance company cancels a policy and when it chooses not to renew it. Insurance companies cannot cancel a policy that has been in force for more than 60 days except:
- If you fail to pay the premium.
- You have committed fraud or made serious misrepresentations on your application.
- Your driver's license has been revoked or suspended.
Non-renewal is a different matter. Either you or your insurance company can decide not to renew the policy when it expires. Depending on the state you live in, your insurance company must give you a certain number of days notice and explain the reason for non-renewal before it drops your policy. If you think the reason is unfair or want a further explanation, call the insurance company's consumer affairs division. If you don't get an explanation, call your state insurance department.