Insurance is a necessary part of life; like brushing your teeth, paying your taxes or dropping your phone – at some point in life you will need a policy. Although there may be long periods where you don’t make a claim, when the time comes, having insurance will help you afford the related costs.
Instead of being left with a giant bill, you will be able to process the claim and move past whatever incident life has thrown at you. There is a myriad of reasons to get insurance and at Powers Insurance Agency, we have you covered.
When you purchase a policy, you are managing your risk and transferring the cost of losses to an insurance company. You are left with only a premium and the peace of mind your stuff is protected. The insurance companies will invest funds securely so that they have enough money to pay out a claim.
Protect Your Home
If you are buying a home than it is very likely that your mortgage lender will want to know your home is protected. Home insurance will protect you from damage that incurs throughout your house. If you are willing to pay extra for a smaller premium, then you will benefit from being able to replace or repair damaged items from around the home for a lower cost.
Not only are you protected from damage you cause, but you are also covered for accidents that are out of your hands. If someone breaks into your home, you will be able to claim items that have been taken. This way you can focus on returning to normality and letting the agency handle to cost.
Similarly, if your home is burnt by fire or suffers from water damage, the effects can be catastrophic. This is the perfect example of when having a policy will mean the difference between making a claim and the possibility of persistent debt.
Driving a Car
Car accidents are no joke. Unfortunately, road traffic in the ninth most frequent cause of death worldwide, which is why good car insurance is a must. The cost of vehicle repair alone would leave a person out of pocket by thousands in a bad case, making insurance the only viable option.
There are several options you can pick which range from third-party (where you are only insured for the costs of the other party) to comprehensive insurance that also covers your vehicle. A thorough comprehensive policy covers claims against theft, weather and even malicious damage.
Pick the policy that suits you best, but just remember, auto insurance is a legal requirement. You want one that will cover all medical/damage costs.
Run a Business
Running a company can be hard enough, without having to account for all the problems that can arise with having an office and a team of staff. There is a wide range of policies to help account for every scenario.
Business liability insurance will help cover claims made against your business. This means you are covered if a customer or a member of staff injures themselves on your property in an avoidable manner.
You can also protect yourself against a potential loss of income. By purchasing business income insurance, you can cover the loss of income you would suffer due to something like extensive water damage. This means you can still pay bills and staff while they can’t work.
If the worst happens and a member of staff can’t work temporarily/permanently due to an issue with your business, taking out workers’ compensation will provide financial support to employees who are unable to work.
What if I Don’t Want Insurance?
Nothing is forcing you to take out an insurance policy, but the pros outweigh the cons. It might feel like an additional expense, but if the day comes that you need to use it, the amount the insurance company pays out will be far greater than what you ever paid.