Insurance policies are designed to provide financial protection for policyholders. Having the right type of insurance coverage is crucial if you want to reduce your financial risk. Homeowners know they need to maintain property insurance at all times, but these same homeowners often overlook the importance of casualty insurance as well.
Property and casualty insurances are broad types of insurance that can provide coverage for a number of events. Understanding casualty insurance better will help you see why it's important to add casualty coverage to your existing homeowner's insurance policy.
Guest Injuries
Most homeowners enjoy having guests over for special events or holidays. These guests expect to maintain their personal safety when visiting the home of a friend or family member. If one of your guests sustains an injury while on your property, you could be found liable for the expenses related to the injury.
Casualty insurance (sometimes referred to as liability insurance) will help offset these treatment costs. Guests can easily sustain an injury when a deck railing fails, when ice accumulates on sidewalks or stairs, or when structural repairs that have been put off interfere with personal safety.
Protect yourself and your guests by ensuring you have a sufficient casualty insurance policy for your home.
Dog Bites
Many American families have dogs inside the home. These pets can become protective of their loved ones, and the potential for a visitor to your home to sustain a bite injury is always present.
Dog bites can be costly for homeowners when the person bitten chooses to take legal action. Casualty insurance policies can offer homeowners financial protection against dog bite lawsuits. If you have a dog in your home or yard, you should carry adequate casualty insurance to ensure maximum financial protection for your family.
Floods
Homeowners insurance policies typically don't provide protection against the financial losses associated with a flood. Even if you reside in an area with a low risk of flooding, it can be beneficial to add flood casualty insurance to your existing policy.
In the event that a flood does occur, your casualty coverage will reimburse you for the loss of personal items as well as damage to the structure of your home. It's always better to have a valid flood insurance policy and never need to use it than to experience a flood and have no option for financial recourse from your insurance company.
For more information, contact an agent like those at Ahlquist Insurance.
Share24 October 2018
Do you constantly fret about your future? Perhaps, you worry about what might happen to your significant other and kids if you suddenly passed away. If you can relate to this scenario, obtaining a life insurance policy might help you get the peace of mind you desire. Depending on your unique situation, you might benefit from acquiring a term or whole life policy. A trusted insurance agent can listen to your needs and help you figure out what type of policy will be best for you. On this blog, I hope you will discover the numerous reasons you should secure a life insurance policy sooner rather than later. Enjoy!
