Life is full of unexpected twists and turns. While some are exhilarating, others, such as a car accident or a kitchen fire, are emotionally and financially devastating. That is why there are various types of insurance available to assist in the aftermath of unexpected disasters. Protecting your most valuable assets is an essential step in developing a solid personal financial plan, and the right insurance policies will go a long way toward assisting you in safeguarding your earning power and possessions.
Consider insurance to be a life jacket. When you don’t need it, it feels like a pain, but when you do, you’re so grateful to have it. It’s all about risk transfer here. Without insurance, you could be one car accident, illness, or emergency away from a huge financial mess. Let’s start with the most important decision, your agent.
Why Use An Independent Agent?
Insurance can be a difficult purchase. You are not purchasing food or milk. You’re purchasing a promise of protection that could make or break your financial situation. How do you know you’re making the best coverage decisions? Are you confident you’re getting the most bang for your buck? The options can be perplexing.
Benefits Of Using An Agent To Buy Insurance
- They shop for you.
- Agents understand the coverage you need.
- They offer many different solutions.
- Local agents live in your neighborhood.
- Agents not only find you competitive pricing, but they also make sure you are adequately covered.
- They advocate for you rink the event of a claim.
How To Select A Good Insurance Agent?
Consider The Following Items When Selecting Your Agent
- How many insurers do they represent?
- Are they experienced?
- Look for an agent with whom you can develop a good rapport. If you have an effective working relationship with your provider, you will likely have a better experience purchasing comprehensive coverage.
- Do they have experienced staff?
- Ask friends or family if they have a recommendation,
- Check references.
- Look at their web page for experience and related information.
- Choose local over national. Local providers know both the market and risks; they are typically better able to serve your company and family.
Personal Insurance Coverage You May Need
Insurance for Renters
Renters also require assurance that they will be compensated in the event of a loss. Renters insurance, fortunately, is a type of property insurance available to people who rent or lease properties. This insurance covers personal belongings, liability, and additional living expenses in the event of a covered loss.
In contrast to auto insurance, no state requires homeowners’ insurance. However, if you financed your home, your lender will almost always require coverage to protect their investment in your home. If your home is damaged or destroyed, you will have funds to rebuild and will not default on your mortgage.
Even if you don’t have a mortgage and paid cash for your home, if something damages or destroys it and you don’t have home insurance, you’re responsible for the repairs or replacement costs. It is prudent to obtain home insurance.
Coverage For Earthquakes
Depending on where you live, earthquake coverage may or may not be included in your homeowner’s insurance. If you live in an area where earthquakes are common, you should consider including it in your policy.
Flood Insurance Is Available
Most homeowners are unaware that flood insurance is not included in their standard policies. Furthermore, flood insurance is not the same as water backup protection. Is everything as clear as mud? An agent can assist you in making sense of it all.
Personal Umbrella Insurance
Personal umbrella coverage is one of the most overlooked policies, but it could be one of the best financial decisions you will ever make. Personal umbrella insurance provides extra protection, or limits, above the personal liability insurance you currently have. Just as an umbrella protects you from heavy rain, an umbrella insurance policy protects you from losing the entirety of your wealth and assets in the event of a claim. Umbrella insurance can provide limits above your personal auto and home policies.
San Diego Homeowners benefit from McCormick Insurance with:
- FREE rate quotes from up to 40 nationally known homeowners insurance carriers (e.g., Mercury, Travelers, Safeco, etc.) with A.M. Best ratings of “A” or better
- Online access to your homeowners or renters insurance policy
- Additional savings on insurance for your auto, RV or watercraft—even life insurance!
- Personalized help via phone anytime you need it via (619) 276-0492
- In-person consultations at our San Diego Bay Park office (across from Mission Bay Park)
- Ability to buy Mexico auto insurance and print it before heading south of the border