A Discussion of Insurance Coverage Types
June 28 is National Insurance Awareness Day. It was created as a way to encourage people to consider their coverage requirements and decide if their current policies meet their needs. In observance of this day, Tammy Ross Insurance, a respected home, life, business, and car insurance agency in Monroe, NC, discusses some of the most important types of coverage and explains why you might need them.
What Are the Different Types of Insurance?
Car Insurance
North Carolina law requires that every licensed vehicle must carry at least $30,000 of bodily injury liability coverage to a per-accident maximum of $60,000, plus $25,000 of personal property liability. This type of car insurance covers the other drivers' medical costs and property damage if you are at fault in a collision.
Life Insurance
Life insurance protects your dependents and pays a monetary benefit if you should die while the policy is in effect. Some types even include a retirement investment and long-term disability component to make the coverage even more valuable.
Commercial Coverage
If you own a small business, commercial insurance protects it against a number of hazards, including storms, fires, and theft. Some policies even protect you against financial losses during a business shutdown or the death of a key employee or partner.
Homeowners Coverage
A homeowners policy protects your home and belongings against damage and destruction by a number of named hazards, such as fires, storms, or vandalism. It also includes liability coverage that pays if you injure someone or damage their property.
To observe National Insurance Awareness Day, take the time to review your policies and ensure you’re protected. Share the hashtag #NationalInsuranceAwarenessDay on social media to encourage friends to reflect on their coverage, as well. For expert guidance, contact Tammy Ross Insurance in Monroe. They specialize in life, business, homeowners, and car insurance. Visit their website to learn more about their services, or call (704) 233-4981 to speak with a friendly, knowledgeable agent.
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