Understanding personal insurance can often become confusing and frustrating for many people. At Mountain Ridge Insurance Group, we break down personal insurance into simple categories and policies, making it easier to understand the type of insurance plan you actually need. Selecting the right insurance can be complicated and could leave you vulnerable if you do not protect yourself with the right plan. Personal insurance is designed to protect your lifestyle, assets, and your property.
What Does Personal Insurance Cover?
Personal insurance is designed to provide coverage for your investments, health, and lifestyle. Personal insurance will protect you from risks that can come through no fault of your own. Normally personal insurance steps in following your death, or it’s used to financially cover you during a time you cannot pay after an accident, death, or sudden loss. There are five basic types of personal insurance including:
- Life Insurance, Health Insurance, Disability Insurance
- Homeowners Insurance / Renters Insurance
- Liability Insurance
- Auto Insurance
- Boat insurance
Do I Have to Purchase Personal Insurance?
Not everyone will need to purchase personal insurance. Some employers do provide insurance coverage options, which can aid in helping employees with several personal insurance needs. However, failure to purchase personal insurance can leave you vulnerable to serious financial losses.
Auto insurance is normally required by the bank when you obtain an auto loan. Lenders need to protect their investment in you. By requiring insurance, it helps the bank from serious financial losses if you do get into a car accident. Homeowners insurance is another required insurance from a lender, as they need to protect their investment if you do end up defaulting on a loan, or the property becomes damaged.
Fair Premiums for Personal Insurance
How can you lower your premium on your current insurance policy? Call Mountain Ridge Insurance Group today, as we can compare rates and plans from different insurance companies to help you choose an insurance option that fits your needs. Shopping around is the best way to ensure you will receive the best rate for your insurance needs since each insurance company has different underwriting and processing needs. Do not let your premiums skyrocket; call us today at 801.820.6402 and we will help you find a good rate and a great personal insurance plan. You may also reach us by filling out our online contact form.