My name is Eric Bowman, and if you have questions about insurance, this is the blog you need to read. I was always confused when I had to purchase insurance. I would either end up paying for insurance I didn't need or I wouldn't buy the right policy. I finally decided that I was going to learn all I could about insurance policies so that I would understand exactly what I was buying. Now, I am completely satisfied with my insurance and the coverage is just what I need. I realized that there are others who are probably just as confused as I was, so I am writing this blog to help others get the best insurance for their needs and budget. I hope that my blog gives you the information you need to make the right choices when purchasing insurance.
Each individual insurance policy you purchase works to protect one element in your life. But when you understand how they work in tandem, you help ensure that you maintain the best coverage for your particular circumstances. Consider, for instance, how home insurance and auto insurance should work in harmony.
1. Each Covers What the Other Doesn't
When you think about home and life insurance policies, you generally think of them as unrelated coverage. But they are much more related than you may think.
For instance, while your auto insurance covers your vehicle after an accident, it doesn't cover your personal belonging inside the vehicle. This is why you need a homeowners or renters insurance policy. And if a disaster in your home affects the car in your driveway, it wouldn't be covered by the home insurance policy. Home insurance, in fact, even extends to cover things like personal libel that may occur in a heated driving situation.
2. They Cover Related Incidents
While many of the claims involving auto insurance occur while you're on the road, your car spends much of its time parked next to your home and therefore subject to the same risks as the house and property. Such things as natural disasters, falling objects, downed trees, and extreme weather that damage the home also most likely damage your vehicles. Without each element of insurance, you face a potentially disastrous bill from either unprotected asset.
3. They Protect Your Ability to Carry On
Together, home and auto insurance work to ensure that you can continue to do everything else necessary for daily living. Without proper auto insurance after an accident, for example, would you be able to get to and for work in order to pay for your home? On the other hand, without a roof over your head during a disaster, you have nowhere to go at the end of a work day.
If you only have good coverage for one or the other of these vital assets, daily life generally couldn't carry on — affecting everything else. Even if you have some coverage in either case — such as purchasing only collision (or liability) auto insurance — insufficient insurance in this category could leave a large bill that affects your ability to keep the other assets.
Clearly, there is a strong link between good home insurance and good auto coverage. If either policy is the weak link in your protection, it affects the other as well. Do you have sufficient coverage in both areas? If you're not sure, start by consulting with an experienced insurance agent in your area today.