Family

Umbrella policies can protect your assets by paying large medical and repair bills that a court or your insurance company says you’re responsible for paying. Most insurance policies – like home and auto – only pay up to a certain amount for liability coverage. Umbrella policy coverage usually starts around $300,000 and pays up to at least $1 million. Umbrella policies also offer more liability coverage than your home or auto insurance. It might cover for false arrest, defamation, and slander.

Flood damage can be severe, causing up to $25,000 in damage. Homeowners should consider flood insurance to protect their financial assets. The National Flood Insurance Program (NFIP) offers coverage to property owners, renters, and businesses, promoting faster recovery and community floodplain management. Flood insurance is a separate policy that can cover buildings, the contents in a building, or both, so it is important to protect your most important financial assets — your home, your business, your possessions.

Renters insurance is a policy designed for individuals renting their living spaces, such as apartments or houses. It focuses on protecting the tenant's belongings and provides additional coverage. The main coverage is personal property, which is protected against damage or loss from events like fire, theft, or vandalism. Liability coverage covers legal fees and associated costs if someone gets injured in the rental unit, and additional living expenses if the unit becomes uninhabitable.

Homeowners insurance protects your home and belongings from damage or loss, and can also cover liability if someone gets hurt. It covers dwelling, personal property, liability, and additional living expenses. Coverage includes repairs, replacement of damaged items, liability for injuries, and additional living expenses for unlivable homes due to covered events.

Most states have legal requirements for automobile insurance, which is a financial agreement between an individual and an insurance company. It provides coverage for losses brought on by covered events or incidents. Common forms of coverage are comprehensive coverage, which covers damage from events other than collisions, collision coverage, which covers damage to an automobile if it collides with another item, and liability policy, which pays for injuries or property damage resulting from an accident.