Check your insurance coverage plans 5 mins

These days’ life has become pretty unpredictable, and you never know that on one fine day when you are enjoying the moment, an accident may occur in front of your eyes. Unfortunate events can occur at any time and any place, and more worrisome is the fact that they damage you not only physically but financially, legally, and emotionally as well.

Therefore, to protect yourself from any unforeseen activity that could damage you over a long period of time, we advise you to purchase a reliable insurance plan that could protect you and your beneficiaries in the future. Once, you have purchased your desirable insurance plans. The next step in line is identifying that your particular insurance provider covers a wide range of risks and lists of named perils in the policy you have acquired. In addition, it is necessary for you to regularly check what the latest coverages have your insurer added or changed in your respective purchased plans. Following is a list of three major insurance and sub-insurance policies that you must check to reduce future risk and damages:

Property/Home Insurance

Property insurance is a coverage plan or policy that insurance providers sell that helps you protect any property damage and provides liability coverage in case of an accident resulting from both natural and human error or causes. Property insurance basically has three major types including homeowners’, rental property, and vacant property insurance.

  • Homeowner’s Insurance

The policy will cover the cost of any repair and maintenance if your house is damaged to the extent that is not livable and one cannot reside the moment any accident has occurred. Legal expenses and personal liabilities such as in a case when an unintentional accident has led to third-party damage, whereby they file a lawsuit.

Landlord or rental home insurance

The landlord liability insurance which is also referred to as tenant-occupied house insurance is a coverage plan that helps you cover the damage to the property that you own and also have rented to some tenants. There are basically two aspects of this coverage plan, one is a property that covers damage to the building structure or any adjacent structure. Secondly, there is a liability aspect that covers the loss of your tenant’s property, their personal injuries, and liabilities such as lawsuits.

  • Vacant property insurance

As the name suggests this policy basically covers the damages to a property which is vacant and nobody is residing in the living space. You must let your insurer know that you are not occupying the property due to either renovating, maintenance, or waiting for another tenant or owner to purchase the property.

Now, when you own different types of property insurance policies, it is very likely that these policies would have different coverage specifications. However, it is also probable that one element that is being covered in one category may not be covered in another. Following is a list of some questions that you must ask when you own a property/home insurance

  1. Home much it would cost you to rebuild your home structure in case it is leveled to the ground in natural disasters.
  2. Does the insurance policy helps cover the medical bills in case of an accident?
  3. What is the worth of the personal property you own and will the amount worth of the property be covered under your insurance policy?
  4. How much liability protection do you require?
  5. What discounts are you eligible for.

Automobile insurance

Car insurance or what is generally known as personal auto insurance is an insurance coverage policy that takes care of a wide range of aspects while you could hit the road in your car without bothering much about any unfortunate event e.g. a car accident. The broad category of coverages under auto insurance will protect you medically; if an injury occurs, financially; if theft or accident damages your car, legally; if someone files a lawsuit against you in case you damaged their car or inflicted an injury.

There are several different types of automobile insurance plans that you may possess at the same time. Therefore, it is crucial for you to check with your insurer what elements your automobile insurance plan covers. In addition, you must ask your car insurer the following list of questions to get a better perspective on your insurance plans.


  1. Who are uninsured motorists and what additional coverage does the company provide when such a driver damages your car?
  2. What is the distinction between comprehensive coverage vs collision coverage?
  3. What is full glass coverage and how does it work?
  4. How does medical payment work in conjunction with auto insurance?
  5. What is the minimum coverage I need?
  6. Does my personal car insurance also cover the insurance of car rental?
  7. Will my personal homeowner’s insurance cover the damages to my car?

Medical Insurance

This is an insurance plan that helps you cover the cost of your medical expenses over the course of your life. Your medical insurance can pay for medical, surgical, prescription drugs, and sometimes dental expenses. There are three main elements in health insurance plans namely; premiums, deductibles, and out-of-the-pocket maximum. Premiums are your monthly payments towards your overall insurance plan which can cover preventive healthcare. Then deductible is the amount of money you have to pay before your healthcare before the insurance shares the medical aid cost. Out-of-the-pocket maximum the most amount of money that you will pay for healthcare in an entire year.

Following is a brief list of questions that you should ask your health insurer:

  1. What are the different types of medical plans and which one is a suitable option for you?
  2. Which medical expenses will your desirable insurance cover?
  3. What are the eligibility criteria for discounts?
  4. How are my premiums determined by the insurance company?
  5. How much is your deductible?
  6. How do out-of-the-maximums work in a health insurance plan?
  7. When is Open Enrollment and special enrollment for health insurance?

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