8 Insurance Types All American Youths will Suffer for if they don’t have

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8 Insurance Types All American Youths will Suffer for if they don't have

4. Home/ Renters Insurance

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Home or Renters Policies are similar forms of insurance. Both generally cover you for liability, personal property, and loss of use. Home Ins. additionally covers the structure when you own it. The moment that you are free and clear of your parents insurance policy, perhaps when you graduate from College or High School, “You Should Purchase a Renters Insurance Policy.”

A little amount of coverage for your own property is helpful, but really its the liability insurance that you want and need. Liability insurance can helpful for various situations that you can find yourself in.

Include individual damage endorsement to expand the liability protection.

Be sure your homeowners policy includes extended dwelling coverage. Extended dwelling coverage adds an extra layer of protection above your policy limits..

Another note about homeowners insurance: Check with your agent about what your policy covers and what it doesn’t.

  • Flood Insurance. Most homeowners don’t know that flood insurance is excluded from their policies. Flood insurance is also different from water backup protection. Ask your agent to go over the details with you.
  • Earthquake Coverage. Depending on where you live in the country, earthquake coverage might not be included. If you need it, check with your agent to include it.

If you’re a renter, you’re not off the hook for insurance. Without renters insurance, it’s up to you to replace your belongings if they are lost in a fire, flood, burglary or some other disaster. A good independent insurance agent can walk you through the steps of covering the basics of both homeowners and renters insurance.

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