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Pam's Insurance Site

When I bought my first house, I was already going into a lot of debt. I didn't have the money to seriously insure it, so I bought only the bare minimum without consulting an insurance professional. That was a big mistake on my part. It could have turned out alright. That is, if my house hadn't been in the path of a huge storm. Huge gale winds knocked a tree down straight through my roof. My house was practically destroyed, and my minimal policy didn't cover nearly enough. I spent years and years trying to get myself out of that financial mess. Since then, I have always been very cautious in learning about insurance and talking to the real professionals.

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Insurances You Need When You Are "Adulting"

Becoming an adult comes with a wide range of responsibilities. Until you reach a certain age, your parents carried you on their health and automobile insurance policies. But unfortunately, all good things must end, and you must pay for your own at some point. Although some of your friends and family may feel that insurance is an inconvenient expense, it is not. One accident will cost you more than your average annual policy. Here are a few insurance policies you need and why.

Health Insurance

No one plans to get sick, nor can you foresee an accident. Everyone needs preventive care included in health insurance policies. Preventive care covers vaccines, screenings, check-ups, and routine tests. The best part about preventive care coverage is that you don't have to worry about meeting your deductible on most policies.

Most health insurance plans include coverage for the following:

  • Outpatient care
  • Emergency care
  • Inpatient care
  • Prenatal and postnatal care
  • Mental health services
  • Substance abuse services
  • Prescription drug coverage
  • Physical and occupational therapy
  • Lab testing

These services can vary. Your provider and policy will dictate your exact coverage.

Health insurance is essential to protect you from high unexpected medical costs. While many affordable health insurance policies are on the market, even high deductible plans are better than no plan. 

Homeowner's/Renter's Insurance

Homeowner's and renter's insurance is essential to protect your home and personal property within your home. Although your mortgage lender requires homeowner's insurance, you should always have it, even if you own your property outright.

Your homeowner's policy covers your primary residence, any other structures on your property, and the contents of your home and structures. You can add a wide range of riders to your policy to cover anything not listed within.

In the case of a devastating loss, your homeowner's policy may be the primary source of your rebuilding funds. Your homeowner's policy also includes liability coverage that will protect your friends and family from injuries when they are on your property. 

Renter's insurance is usually optional, although some complexes may require you to have it. While the landlord's insurance covers the building, your renter's policy will protect your personal property.  

Although many people do not feel they own enough personal property to invest in renter's insurance, their pieces can quickly add up to thousands of dollars. The best part about renters insurance is that it is relatively expensive for the peace of mind it provides. 

Contact a company like Del Toro Insurance Hialeah to learn more.