Main Types of Insurance Coverage

• Uninsured/underinsured motorist coverage.
• Comprehensive coverage.
• Collision coverage.
• Medical payments coverage.
• Personal injury protection (PIP)

  How does personal liability insurance work?

  Personal liability occurs in the event an accident, in or out of your home, that results in bodily injury or property damage that you are held legally responsible for. Personal liability will cover the costs of medical bills, as well as your legal defense fees, up to the limit of your liability coverage.

  What is covered by loss of use insurance?

  The following types of expenses are normally covered by the loss of use coverage portion of a homeowners’ insurance policy: temporary housing, including leased premises of a size no greater than what you lived in before, hotels, or motels (but remember, your mortgage company will still expect you to pay the mortgage on your home, damaged or not)

  When do you need loss of income insurance?

  This may also help replace any net losses you may accrue and cover your relocation or advertising fees if you must move to a temporary or new location. Additional types of options and endorsements you may want to consider adding to your coverage include:

  When to use civil authority loss of income insurance?

  If you live in an area prone to natural disasters, civil authority coverage may be right for you. This coverage provides income if you are forced to close your business due to an evacuation or disaster, such as from a wildfire or a hurricane.

  What’s the difference between incurred losses and indemnity?

  Incurred Losses – The sum of paid losses and changes in loss reserves for a particular period. Indemnity – A principle of insurance which provides that when a loss occurs, the insured should be restored to the approximate financial condition occupied before the loss occurred, no better, no worse.