Personal Insurance
Life is unpredictable. That’s part of what makes it so amazing. However, you still need protection in case things suddenly take a turn that doesn’t go your way. Our team of personal insurance experts takes the time understand your individual situation and then educate you on your best possible options for coverage that protects not only your current assets, but also provides long-term success.
Some of the types of insurance we offer:
Given all of the expenses that come with owning a home, it’s reasonable to wonder if homeowners insurance is just another seemingly useless expense. The answer is no, it’s not useless — in fact, homeowners insurance is essential. Not only will a good policy save you money in the event that something happens to your home or belongings, an insurance company can also help you with other matters, like making your home more resistant to natural disasters. Although having homeowners insurance isn’t required by law, most mortgage lenders require you to have homeowners insurance in order to borrow money from them. If you live in a condominium or co-op, you may also be required by your tenants’ association to have homeowners insurance.
Even if you have a relatively new, well maintained house, homeowners insurance can help you in situations that may not be preventable. Say, for example, that you are having a dinner party at your house. A group of guests are gathered on the back patio, and one of the guests trips on a loose tile and breaks his ankle. You, as the homeowner, are potentially liable for the guest’s injury. The right homeowners insurance policy should protect you against legal action and pay for the injured man’s medical bills.
How much coverage is enough for my home?
The amount of insurance that you need for your home is determined by how much it would cost to rebuild part or all of your home in the event of a loss. This may be different from the sale price or the tax assessment because the land and the foundation are not covered by your homeowners policy. If your home has special architectural features or custom craftsmanship, you need to factor these items into your replacement cost. You also want to consider your personal belongings and liability coverage. We can help you correctly assess your home’s value and determine the right amount of coverage.
Do you have the right coverage in place?
Owning a condominium puts you in a unique position. Unique because you have both common and individual insurance needs. Odds are, your condominium association has an insurance policy for common areas, like the building exterior and walkways. You’re still responsible for insuring your interests such as your personal property, yourself from liability and your guest’s medical protection.
Do you know the answers to these important questions?
Your Association
- How do I know how much coverage my association carries?
- Are there parts of the building or property they don’t insure?
- What are my insurance responsibilities?
Your Home
- How much would it cost to repair the inside of my home if it were damaged?
- How can I make my home safer and possibly save money?
Your Property
- What would it cost to replace the contents of my home?
- Do I have an inventory and photographs of my personal possessions?
You and Your Guests
- What additional protection can I get for special assessments?
- What additional protection can I purchase for my personal property such as: jewelry, electronic equipment, cellular phones and other special items?
- How often should I reevaluate my coverages?
- Should I get flood insurance?
- Do I need or have reimbursement for additional living expenses if I can’t live in my home due to loss?
- I’m getting married, can I get additional protection to cover wedding presents and other personal property I receive?
Enjoy peace of mind knowing your unique insurance needs are understood.
Renter’s insurance assures you that you’re protected against the damage or loss of personal property when you rent an apartment or house. Your landlord may have insurance that protects the physical building in which you reside, but this insurance will not cover your personal property. In fact, it’s not at all uncommon for landlords to require the purchase of renters insurance prior to renting or leasing. This is prudent for both the renter and the landlord, protecting both from the possibility of lawsuit by alleviating each other’s respective liability.
In determining whether or not you need renters insurance, the questions you need to ask yourself are:
- How much would it cost to replace my belongings if they were damaged or stolen?
- And can I afford to replace them?
Depending on your answer, renters insurance may be an easy choice, providing you with the protection you need. Either way, it’s reassuring to have the peace of mind that comes from being protected.
Is your personal property protected?
Auto insurance helps you to protect you and your family against financial loss in the event of an accident or other cause of loss. It covers the injuries and damages caused by an accident and for which you are legally responsible. It may also cover the costs of repairing or replacing your vehicle if it is damaged or stolen.
Liability Coverage
Liability simply means a financial obligation. Liability coverage is designed to reduce the amount of financial responsibility you face in the event of an accident.
- Bodily Injury Liability (BI): This type of coverage provides protection for injury for which you may be responsible, and provides for legal defense in case of a lawsuit. This is usually mandatory in most states. When choosing this type of coverage, you indicate the maximum amount that will be paid per person and per incident. Purchasing liability limits that account for current assets and future earnings protects you from financial risk.
- Property Damage Liability (PD): If your car damages someone’s property, this coverage protects you from cost and lawsuits. Coverage limits are the maximum amounts that will be paid per accident. Again, consider both current assets and future earnings in determining this limit. Limits that are too low mean you could be responsible for any amounts beyond the limits, forcing you to liquidate property, savings and other assets.
Physical Damage Coverage (COMP and COLL)
These types of coverage focus on damage to the vehicle from all angles.
- Comprehensive Coverage (Other Than Collision or OTC): This type of coverage protects your car from incidents other than accidents, such as damage by flood or fire, or stealing. You choose the deductible, and the insurance company pays the amount to fix your car minus the deductible. Choose a deductible amount you can comfortably pay out of pocket to keep premiums low. If you finance or lease a car, the company will probably require this coverage. If you have a newer car or one in excellent condition, this coverage is recommended.
- Collision Coverage: In case of an accident, your car is covered under this plan. Insurance pays to fix your vehicle less the deductible you choose. To keep your premiums low, select as large a deductible as you feel comfortable paying out of pocket. This may be required in cases of financing or leasing, and it’s recommended for newer cars.
Do you have the best coverage that provides right protection? If you have questions about your auto policy contact us today!
You’ve insured your car and your home. But if the unexpected should occur, are you sufficiently protected? A personal umbrella insurance policy offers an extra layer of protection for your assets if there’s a serious auto accident or accident on your property. Otherwise, you could be liable for more than your current auto or homeowners coverage.
Unfortunately, in today’s society, lawsuits and million dollar verdicts are all too common. Incidents can occur in your day-to-day activities that could potentially cost you. If you’re like most people, you feel confident that your homeowner’s and auto insurance will protect you if you fall victim to a claim arising from normal activities. What you should be aware of is that while these policies do include liability coverage, the amount of coverage usually tops out at $500,000. Umbrella policies take over after the liability insurance in your homeowner’s and auto policy exceed their limits. We can help you determine if you should have an umbrella policy as well as the proper liability amounts based on your assets and exposures.
Are you prepared for the unexpected? Contact us to discuss your options.
Typical homeowner’s policies are designed primarily to protect your home, personal liability and general contents of your house. If your property includes high value contents like heirlooms, jewelry, an art collection, your silver or china collection, or even the wine collection you’ve been maintaining for years, you can’t depend on the typical homeowners policy to keep your property protected.
Valuables that are important to you require a policy that will leave you protected. High-investment and inherited items are subject to the same kind of accidents as the rest of your property, and the licensed professionals at Cleary Insurance can help you put together a policy that will leave your hobbies and valuables covered in the event of a loss.
Contact us to ensure your valuables are protected!
Boat Insurance
Boat Insurance is highly recommended to cover your liability in case of a boat accident. Based on the value of the boat, you can add full coverage so that the boat is covered in an accident regardless of fault, theft, and towing.
For example, if you were boating on a lake and ran over a rock that caused hull damage as well as engine failure, you would need coverage to get your boat towed to a local shipyard as well as the extensive costs in lifting the boat and getting the hull fixed. Boat insurance may also be required when renting dock space at a Marina.
Motorcycle Insurance
Whether you ride a sport bike, cruiser, or touring motorcycle your state requires coverage for bodily injury and property damage. Additional minimum bike insurance required varies by state. Cleary Insurance can help you discover the minimum Motorcycle Insurance required by your state.
Contact us to help answer your Boat and Motorcycle insurance questions.