Insurance Advisors of Saint Louis: 5 Types Of Insurance That Are Beneficial To Your Family
Original Post on Insurance Advisors of Saint Louis Posted by James McMinn | Jul 23, 2020
Insurance coverage can keep your family protected whenever disasters or other mishaps in life strike. There are different types of insurance policies that can help protect you and your family in different areas of life, and choosing the right plans can give everyone in your household greater peace of mind. IASTL only has independent insurance agents to help you find the best value. These five types of insurance can be highly beneficial for your family.
If you own a home, you’ll want to protect it by getting a home insurance policy that covers certain damages that may arise. Whenever a pipe leak or something else goes out in your home that causes damage, your policy may cover the costs of any necessary repairs and upgrades. Home insurance policies cover damages that occur to both the interiors and exteriors of homes.
Many of your personal belongings will also likely be covered under your policy. Most insurance companies also cover losses that occur from burglary and vandalism. You’ll generally have the option of paying for your coverage monthly, annually or on some other type of set payment schedule. If you don’t own a home, you can get a renter’s insurance policy that will help you stay more protected.
Life insurance can help your family stay financially secure if you’re no longer around to provide for them. Following your death, your family can receive payments from the life insurance company to pay for living expenses. Some of the money can also be used to pay for your funeral and other expenses that are related to settling your final affairs.
As the Balance explains, the money that your family receives from your policy may save them from having to pay estate taxes, medical bills, and the home mortgage out of their own pockets. If you want to leave an inheritance or pay for your children’s college education after your death, having a life insurance policy can make doing so possible.
Anyone in your family who drives should have adequate auto insurance coverage that can cover damages that may incur on the road. Most states require drivers to have at least liability coverage, which will pay for damages to the other vehicle if any of your family members are at fault for the accident.
A more comprehensive plan will cover damages to the driver’s vehicle along with other auto problems that could arise. Some auto insurance policies also cover towing expenses if the vehicle breaks down and ever has to be towed. If you have teens or other young drivers in your household, you might be able to save money on insurance coverage by adding them to your plan.
For the animal members of your household, pet insurance can make paying for certain expenses that are related to their care easier. Many pet insurance companies offer affordable pet insurance that covers dogs and cats individually. Regardless of the age or breed of a pet, most insurance companies will provide full coverage without any problems. Having this insurance can cover routine vet visits as well as specialized care.
Some pet insurance plans even cover the costs of spaying and neutering with no annual coverage limits. If you want to get a pet vaccinated, the right insurance plan can save you money. Flea, tick, heartworm, and rabies preventative treatments are also covered under many of the best plans. You may even be able to enroll in a plan that covers part or all of the cost of microchipping a pet to help you recover them faster if they ever get lost or stolen.
If you enjoy taking family trips, travel insurance can definitely come in handy. Many policies cover all or part of the costs of trips that are canceled and the amounts that were paid are nonrefundable by the airlines, hotels, or tour operators. If your luggage gets lost while flying or traveling by some other mode, your policy may reimburse you for the loss. Sickness or injury could also occur at some point during the trip, and the right travel insurance plan can help ease the financial burden of medical care. If you and your family need to be evacuated from a vacation area because of a natural disaster or another major event, your travel insurance plan will likely cover many of the related expenses.
Having these insurance plans for your family will make life easier and securer for everyone in your household. Enrolling in the right plans with the best coverage options will be one of the best things that you’ll ever do for your family.
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You can also read our other blog posts to get even more info on keeping your pet healthy.