While many people are familiar with basic auto and homeowners insurance, there’s a whole host of less common policies and add-ons that can offer greater coverage. Here are just some unique insurance options you might not be aware of — but could nonetheless help safeguard you against financial loss.
Better Protection for a Rainy Day
While your jacket might keep you dry in a light drizzle, you’ll need an umbrella for a downpour — at least that’s the basic idea behind an umbrella policy. This type of policy offers an extra layer of protection against losses due to liability claims. For instance, if you’re at fault in a car wreck, an umbrella policy can protect your savings and assets if the damages you’re responsible for are greater than your auto insurance limits.
Protect Your Pets … and Your Pocketbook
Like any other family member, a pet’s health issues can cause a financial hardship — without the right coverage. In fact, the average cost of an emergency vet visit is between $800 and $1,500. Pet health insurance can assist with the cost of care for illnesses, injuries and general health, while pet liability insurance helps protect your assets if your pet causes injury or property damage. Specialized liability insurance may be a good idea even for stay-at-home pets, as homeowners and renters policies may not cover all the damage caused by your furry friend.
Endorsements for Enhanced Protection
Your homeowners insurance policy might not cover certain situations — like an assessment levied by your HOA. But loss assessment could assist you in this particular situation. Meanwhile, equipment breakdown coverage can help with the repair or replacement of your appliances and mechanical systems.
Make sure all your belongings are adequately insured. A typical homeowners policy, for example, might leave you with coverage gaps for things like antiques, jewelry, artwork, and cash — so it’s important to make sure these items are protected as well.
Cover All Your Bases
You may think your basic homeowners, auto, and health insurance policies are all you’ll ever need. They’re a great start, but more common policies may leave gaps in protection. Your local We Insure agent can work with you to assess the coverage you really need and help you find the best policy and rates. And our team has exclusive access to a unique portfolio of insurance products for hard-to-place risks if your insurance needs are complex or particularly unique. So reach out to We Insure today to find out if your insurance policy has you truly covered.
Sources
https://www.nerdwallet.com/article/insurance/umbrella-insurance
https://www.equifax.com/personal/education/identity-theft/id-theft-insurance/
https://www.usatoday.com/money/blueprint/pet-insurance/what-is-pet-liability-insurance-for-renters/
https://www.bankrate.com/insurance/homeowners-insurance/loss-assessment-coverage/#do-i-need-loss-assessment-coverage
