When most people think of insurance, they think of health or car insurance. While these are two of the most common type of insurance plans, there are many other types of insurance policies available. It is possible that you could benefit from one of these other types of insurance policies and that you are currently at risk by not carrying it.
Boat and recreational vehicle insurance
If you own a boat or other type of recreational vehicle such as an RV, camper, four wheeler, or Jet Ski, you should also have an insurance policy on it. Boating accidents occur often, especially in the summer months and in states that have year round warm weather. In fact, in just 2016, the Coast Guard reported 4,463 accidents that involved 701 deaths, 2,903 injuries, and approximately $49 million dollars of property damage as a result of recreational boating accidents. If you are involved in a boating accident without sufficient insurance, you could be subject to legal charges, fines, damages, and even the cost to hire a Florida lawyer or boat accident attorney.
Another risk with boats and personal recreational vehicles is theft. It is much easier to steal an RV or boat than it is a personal vehicle. Most people utilize their personal vehicles on a daily basis. They notice the smallest of things that could indicate a break in. Depending on where you store your boat or RV, however, there could be more access to it for theft.
Commercial business insurance
Do you own or operate your own business? Even with minimal employees or customers, you should carry some type of a commercial business insurance policy. Insurance not only protects your place of business in the event of a fire or burglary, but it also protects you if someone is injured while at your place of business. For example, someone could slip and fall on a recently mopped floor and then you are left needing a Florida lawyer. Because there are so many different types of business services, you will need to choose an insurance coverage that best meets your business practices.
Another aspect often forgotten about regarding commercial business insurance is when business owners use their commercial vehicles for personal use. It is best to separate the use of each vehicle to avoid costly lawsuits. You could end up needing a Florida lawyer or car crash attorney after causing an auto accident in a work vehicle, after work hours. This can significantly complicate the legal process, even with the most experienced of injury lawyers.
Most people take out a homeowner?s insurance policy after they have purchased a house. Sometimes, this is because their mortgage company requires them to. Otherwise, people tend to value a home they own more than one they rent. But, think about if you were to lose everything that is currently in your rental house. You could potentially lose a high value of your items. Rental insurance tends to be very affordable and is an important part of renting a house. Even if your landlord does not require it, consider taking out a rental insurance policy.
Rental insurance is even more important in parts of the country with high risk. If you are renting a house in a high crime area, make sure you get a loss and theft policy. If you are renting along the coastline of Florida, you will want a hurricane and wind damage policy. Otherwise, you will spend a lot of money on a Florida lawyer or accident attorney to receive compensation after wind damage ruins all of your belongings.
In 2015, 5,736 pedestrians were killed and an estimated 70,000 were injured in traffic crashes just in the United States. While it is likely that you carry some type of auto insurance, you probably do not have boating, RV, commercial business, or rental insurance. Anytime a high monetary value of items are involved, consider taking out an insurance policy.