Although gambling is not legal in most states, when you buy insurance coverage, you are essentially betting that something bad will happen—to your home, car, or business. A homeowners insurance or car insurance company, such as Bingel Insurance Agency in Denver, CO, takes that bet on the basis that, in most cases, nothing bad occurs. Bingel Insurance Agency will cover you whether you need business, motorcycle, homeowners, or life. Some of the most familiar types of insurance coverage are explained below.
3 Common Types Of Insurance Coverage
Almost everybody is familiar with car insurance, which comes in several forms. You can get quotes for personal and property damage liability, which pays off if you harm or injure others. You can buy comprehensive vehicle coverage, for if your car is stolen, vandalized, or destroyed by fire. You can buy collision coverage, too, which covers your costs if your vehicle is damaged in an accident with another vehicle or object.
Life insurance, on the other hand, pays off should you die during the coverage period. It comes in two types: term life and whole life. Term life has a limited coverage period (or "term") before it expires. It is usually less expensive and is ideal for people who expect to be financially secure once the term is up. Whole life lasts until you die, and usually has an investment arm to help you afford retirement.
Home insurance is, like car insurance, a bundle of coverages—they protect you against liability, damage to or loss of your home and additional living expenses if your home becomes uninhabitable. For instance, it covers your legal costs if a pet should bite a neighbor or a child should break a neighbor's window with a snowball. It also covers storm or fire damage to your home, as well as losses due to theft or vandalism.
Bingel Insurance Agency in Denver, CO, has been serving the region since 1987, helping businesses and residents protect what they value most. Visit their website for contact details, or call (303) 451-8034 to request an insurance quote.