Auto and Home Insurance
Auto Insurance

  • What is auto insurance?
    Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy.
    Auto insurance provides property, liability and medical coverage:

    • Property coverage pays for damage to or theft of your car.
    • Liability coverage pays for your legal responsibility to others for bodily injury or property damage.
    • Medical coverage pays for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.
    An auto insurance policy is comprised of six different kinds of coverage. Most states require you to buy some, but not all, of these coverages. If you're financing a car, your lender may also have requirements.
    Most auto policies are for six months to a year. Your insurance company should notify you by mail when it's time to renew the policy and to pay your premium
 
Homeowners, Condo, and Renters Policy Types: The Differences

A homeowners policy is for people who own their own home. This may be either a house or a condominium: Essentially, if you are making payments on the home with ownership as the end goal you will need homeowners insurance. This type of policy will cover both the outside of the home and all the contents of your home. It will cover the majority of natural disasters (certain disasters like earthquakes may be excluded but you may add extra coverage for that specific purpose) and will allow you to replace or rebuild damaged property. If your home is broken into by a thief and items are stolen your insurance will help replace stolen items and pay for any damage in terms of vandalism that the thief did.

With a renter's policy, the coverage includes the inner contents of the home, apartment, or room that you are renting. This is coverage for the break-ins, the natural disasters, fires, and other circumstances that are beyond your control. Even though your landlord will have a homeowners policy on the place you are living, it does not cover your own personal items as a renter, which is why renters insurance is essential.