5 Common, Overlooked Insurance Coverage Options

Do you have great insurance coverage? If not, you’re certainly not alone.

After all, good insurance is something most people take for granted until they really need it. It’s boring to think about, the details are typically extremely boring, and it’s often expensive. But if something happens and you don’t have it, a lack of proper coverage can end up costing you a fortune in medical bills.

This article takes a look at various coverage options that most people make the mistake of overlooking. Keep reading to get the inside scoop on insurance policies you should consider investing in.

  1. Renters Insurance 

First of all, let’s discuss a type of coverage known as renters insurance. This is designed for people who live on a rental property to cover their personal possessions. That’s because if the home is destroyed or robbed, causing damage or loss to your personal property, the landlord isn’t responsible for those losses. 

Renters insurance is something the vast majority of renters either ignore or don’t know they need. But choosing to avoid can end up costing you big time. Especially in the case of theft or fire. After all, even a small fire can end up causing a ton of smoke damage. When this happens, you’ll quickly discover the tremendous expense of replacing everything you own out of your own pocket.

  1. Identity Theft Insurance

Next on the list is identity theft insurance. After all, identity theft has become a huge issue over the last few decades. Especially when you consider the shift to digital transactions for just about every part of your life.

An IDT policy is incredibly important for flagging suspicious activity and remediating damages to your identity and personal information. This type of policy will also closely assess your credit rating for suspicious credit activity and then notify you when any potential problems arise.  

Here is a resource where you can learn more about home insurance.

  1. Umbrella Insurance

Another type of coverage that is commonly overlooked is called umbrella insurance. This type of coverage is designed to provide an additional layer of personal liability protection on top of homeowners, auto, accident, and other general types of insurance. 

Umbrella coverage also helps protect policyholders and their assets in case you exceed the payout limits of your other coverage. For example, you could be involved in a car accident with an uninsured motorist.

Many people never think of adding an umbrella policy just in case they encounter a massively expensive disaster.  

  1. Flood Insurance

Floods can quickly destroy your home and personal property. That’s why owning a flood insurance policy is so important. Especially if you live in an area of the country that experiences severe weather.

  1. Long-Term Disability Insurance

This another type of insurance coverage that can provide much-needed protection when it’s needed most. If you’re hurt in an accident, long-term disability insurance provides extra protection above and beyond what short-term insurance policies are able to provide.

A Guide to Commonly Overlooked Types of Insurance Coverage Options Everyone Should Know About

Protecting yourself from unexpected events is important. Fortunately, this guide to overlooked insurance coverage options will help you stay protected no matter what life throws at you.

Keep scrolling to discover more great lifestyle tips and advice on this blog.

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