Your auto insurance policy is designed to cover you or any other licensed household residents you list on your policy. It is very important that all of your household drivers are specifically listed on the policy. If any other driver were to operate your vehicle they are covered under your policy on an occasional basis. Check with your agent or us if someone needs to drive your car on a more regular basis as the insurance company may have other requirements. You will also want to check with your agent for student drivers.
While renters liability insurance is not required by law in Wisconsin many landlords or property groups will require your certificate of coverage in order to rent a space. Renters insurance can not only cover you if you are neglegent they will also cover your personal property in the event of a fire or most water losses.
Home Insurance
A deductible is the amount you pay out of pocket when you make an insurance claim. Deductibles are usually a specific dollar amount, but they can also be a percentage of the total amount of coverage on the policy. Some deductibles are the same across all your policy perils, some have separate deductibles. Some homeowners insurance companies, for instance, have seen alot of wind claims in certain areas over the course of many years. You may see a wind deductible that is separate from say a fire loss. Many companies will have a 1% deductible. This doesn’t mean you pay 1% of the loss, it means you pay 1% of your total coverage. If you have a $500,000 home limit your deductible is $5,000 on a loss.
Many people know when you bundle or package your Car and Home insurance you get discounts on both, sometimes up to 25%. What people don’t realize is that you can also get discounts on Life insurance…in some cases the discounts you receive overall can pay for your life insurance coverage!
Health Insurance
Category B: Personal information categories listed in the California Customer Records statute (Cal. Civ. Code § 1798.80(e)). Examples: A name, signature, Social Security number, physical characteristics or description, address, telephone number, passport number, driver’s license or state identification card number, insurance policy number, education, employment, employment history, bank account number, credit card number, debit card number, or any other financial information, medical information, or health insurance information. Some personal information included in this category may overlap with other categories. Collected: Yes.
Should you go out and buy a five million dollar umbrella policy just to be safe? Perhaps, but generally you can determine how much liability coverage you need by determining your net worth. If you don’t have a lot of assets then there isn’t much incentive to sue you for a high amount. Matching your net worth is a good first step and your underlying policies like your automobile or homeowners policy can usually cover that. If they max out then you can purchase an umbrella policy fairly inexpensively to meet that need.