Personal Insurance policies in Florida and Massachusetts are those that cover a person and his/her family individually and personally. Basically, personal lines policies insure against a casualty. That casualty might be to your auto, your dwelling, or your life. Thus, the three main lines of Personal Insurance are the Automobile Policy, the Homeowners Policy, and Life / Disability Insurance. Within those three areas, there are various types of insurance. For instance, the proper Homeowner’s Insurance policy is determined by whether you own your home, rent your home, or live in a condominium.
Each Personal Lines policy has minimum “policy limits”, and those limits are often determined by the State that you live in. Often these “minimum” amounts are less than what is practical or suggested by your living conditions, and your Agent will suggest that you increase your limits to protect yourself.
- Coverage: The basic auto insurance policy traditionally covers you as well as your spouse, and also any relatives who live in your home plus other licensed drivers to whom you may have given permission to drive your car. The policy is a “package” of insurance protection, providing coverage for both bodily injury and for property damage liability. This “package” also provides for repair or replacement for physical damage to your vehicle. Damage can include both that caused by the collision and damage cause by things “other than collision”, such as flood, fire, wind, hail, etc.
- Common Types of Coverage: Auto insurance traditionally covers the following in the case of a car accident: personal injury (PIP), uninsured motorist, medical payments, underinsured motorists, auto rental, emergency road assistance & other damages your car may incur which are NOT caused by a collision…(the most common examples are fire, flood, & vandalism). Other types of additional coverages may be suggested by your agent, too.
- Deductible: Your “Deductible” is the amount that you will will be responsible for when you file a claim. Typically, the higher the “Deductible”, the lower your premiums will be.
- Insurance Rates: Your “Premium” (which is how much you are charged annually) is determined by many factors, such as your driving record, driving experience, the current value of your car or truck, the places you visit regularly, how much driving you do, the coverages that you select, and your age.
For detailed information about Personal Policies for Automobiles, please visit our Homeowners Policy Page.
Where we live, and the contents of our residence are often our greatest assets. For this reason, it is important that we protect their value by obtaining the proper Homeowners insurance, These are the elements that comprise Homeowners Insurance:
- Coverage: Homeowners insurance typically covers the dwelling (the structure), personal property and contents, and some forms of personal liability. The policy may cover direct and consequential loss resulting from damage to the property itself, loss or damage to personal property, and liability for unintentional acts arising out of the non-business, non-automobile activities of the insured and members of that insured’s household.
- Types of Insurance: Basically, there are six standard forms of homeowners insurance policies, all of which containing personal property coverage.
- HO-1, a bare bones policy that is not widely available.
- HO-2, a version of the HO-2 designed for mobile homes.
- HO-3, which is the basic Policy for an occupied Home Owner
- HO-4, specifically for those who rent the home they live in. It covers a policyholder’s belongings (only) against all 16 perils.
- HO-5, an extended version of the HO3 providing more extensive coverages
- HO-6, designed for owners of condominium and cooperative units. It provides coverage for belongings and the structural parts of the condominium or co-op that the policyholder owns. It protects against all 16 perils and provides personal liability coverage.
- HO-8, designed for older homes.
For detailed information about each of these Personal Policies for Homeowners, please visit our Homeowners Policy Page.