Five Personal Insurance Coverages You Should Have

Umbrella –  For a small amount of premium you can add an additional $1,000,000 of liability protection to your insurance coverage.  This is one of the best ways you can protect your assets, both current and future.  Most umbrella policies range from $125 to $200 per year for the average client, which is a bargain for the amount of protection you get!

Sewer/Drain Back-Up Coverage – Some people may be surprised to find out this is not covered on most homeowner policies, but can be added by endorsement.  These claims can be messy – literally.  Lawyers Insurance Agency automatically adds this coverage when providing homeowner insurance quotes 100% of the time, as we feel it is that important.  Make sure you have this, the cost to add it to your homeowner policy is negligible. 

Earthquake Coverage – Think an earthquake can’t happen in North Carolina?  I always used to think that too, until one did.  Luckily there was not a lot of damage.  That being said, why roll the dice?  You should be able to add earthquake protection to your homeowner insurance policy. 

Flood Insurance – Floods are not exclusive to flood zones.  Flood zones are essentially areas that are very prone to flooding, but flooding can happen almost anywhere.  If you are in a hazardous flood zone, you may be required to purchase flood insurance – and it can be costly.  The good news is if you are not in one of those zones, flood insurance is typically very affordable.  Flood coverage is not available on conventional homeowner’s policies. 

Life Insurance – The longer you wait to buy this, the more expensive it is likely going to be.  Life insurance premiums are based on your age and health.  Will you ever be younger and healthier than you are now?  Even if you don’t have any dependents at the current time, it still might be a good idea to lock in a good price for the future. 

Adam Pierce, AAI, is the Director of P&C Operations at Lawyers Insurance Agency. For more information, contact Adam at 800.662.8843 or adam@lawyersmutualnc.com.