Some coverage details are required by the State you live in, such as auto insurance and long term care insurance. Then, there are minimum coverages that you are required to have to satisfy the State, your mortgage bank and lien holders (such as automobile finance companies)
However, most insurance policies do not have to include many options which insurers make available, usually for a very minimum additional premium. These are the small details and costs which can be a very expensive out of pocket expense.
The following are just a few coverages and the policy categories, which are often overlooked, but well worth your time to see if it makes sense for you:
- Waiver of premium- life insurance
- Guaranteed insurability options- disability and life insurance
- Earthquake - homeowners
- Flood coverage- homeowners and business owners (required by many banks if you have a mortgage)
- Scheduled jewelry- any homeowners, renters
- Inflation options- Long Term Care
You do have to qualify for these additional benefits, and I can easily tell you if these and other coverage options make $en$e for you!
Talk with you soon!