It does not matter if you own a home or rent, there are certain risks that we all think about on a regular basis. These risks, if not properly addressed, can impact you and your family’s financial security. Your home insurance and auto insurance may need to be updated after you read this article. We interviewed a number of families to determine which risk concerns kept them up at night. Here are the results.
Los Banos Personal Insurance Risks
- Auto accidents. Most people are concerned that they may not have enough auto liability insurance coverage if they are involved in an auto accident. People are also concerned about being in an accident with an uninsured driver. These concerns can be solved by increasing your auto liability limits, and having uninsured motorized coverage.
- Identity theft. Did you know that your identity can be stolen through your medical provider, your job, auto mechanic, or even church? Anyone who holds your personal information can have a cyber breach which can compromise your identity. Identity theft coverage can be added to your homeowner’s insurance.
- Home based businesses are not covered under your personal insurance. Even if you don’t have customers come to your home, you may need a business policy.
- Uber. Many people either have used Uber or are considering becoming an Uber driver. Some people are concerned about Uber drivers having enough auto insurance if they are in an accident.
- Weather related and natural disasters are common place in most of the region. Many people fear that a flood, windstorm, or other event will be un-insured. While many risks such as rain, snow, and wind damage may be covered under your homeowner’s policy, other risks like floods and earthquakes are not included and will require special coverage. If you own a home in a coastal community, you also may need special hurricane or wind coverage.