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When it comes to insurance, there are countless different policies. Which ones are the most important? Although the answer depends on your personal situation, there are three basic insurance coverages we think everyone should have.

1. Contents

Simply put, this is coverage that protects your stuff. Contents coverage can make you whole if your items are stolen and, in some cases, if your personal possessions are damaged.

If you own a home, your homeowner’s insurance policy has contents coverage built in. If you do not own a home, you need to make sure you have a renter’s insurance policy to get proper contents coverage.

2. Liability

As mentioned in a previous blog, proper liability coverage is extremely important. Sadly, in today’s world, you can be held liable for countless acts. That liability could cost you millions of dollars. How do you protect against this? With proper liability insurance coverage.

As with contents coverage, liability coverage is built in to your homeowner’s insurance and renters insurance policy. In addition, your auto insurance policy has liability coverage. However, we strongly advise you extend your liability protection beyond your basic policies by adding an umbrella insurance policy.

PRO TIP – You are unable to purchase an umbrella insurance policy until you have properly increased the liability limits on your auto insurance to the required limits of your auto carrier. You must do this first before purchasing an umbrella policy.

3. Life

It’s likely there are people counting on you to provide for them. Your income is a big deal! When you die, how will that income be replaced? As explained here, life insurance is a type of policy that can help protect your loved ones. An unexpected death is extremely hard to deal with; an unexpected death of someone who did not properly plan is even harder to deal with.

In summary, the three insurance policies we believe everyone should have are:

  • Homeowners or Renters Insurance
  • Umbrella Insurance
  • Life Insurance

Are you in need of one of these basic insurance policies? Schedule a time with me below. I would be happy to help!