Dollabuzz Shows You 3 Insurance Coverages You Need That You Probably Don’t Have
Helloooo Dollabuzz readers! Today were are going to discuss 3 CHEAP insurance coverages you need. Everyone knows the importance of auto, life, and homeowners coverage but what about coverage for lesser known risks? Risks that can really kill your Dollabuzz?
So what are 3 little known insurance coverages you need to maintain a strong Dollabuzz? Long term disability (LTD), flood/sewer back up, and coverage for your high value personal items. These lesser known risks are not well known but can seriously impact your Dollabuzz.
3 CHEAP Insurance Coverages You Need #1: LTD
Much like the girl next door, this important coverage is often overlooked. People buy life insurance because, well they WILL die and that is a 100% guarantee. However, no one thinks they will get banged up in a car wreck and be unable to work because that kinda stuff only happens to other people. In reality we are all other people and LTD will pay you 2/3 of your salary while you are disabled.
LTD is really cheap especially if it is available through work or another group plan. A supplement to LTD is accidental death and dismemberment. Say you lose an arm in a car wreck. You will receive LTD and a payout for the dismemberment. This supplement is a nice little kicker for when life kicks you in the ass. I have LTD and accidental death and dismemberment through work but if I did not, I would start my search with Zander Insurance.
3 CHEAP Insurance Coverages You Need #2: Flood/Sewer BackUp
Flood insurance is another over looked coverage. Most people don’t know that losses due to floods are not covered under their homeowners policy. Due to the large losses floods generate, flood coverage is provided through the federal government.
Despite living near the Gulf of Mexico 85% of homes in Houston did not have flood insurance. One reason is people feel its “expensive.” I know flood insurance can be “expensive” but its a lot cheaper than losing everything. Your house is your castle so protect it like House Lannister. It is also worth noting that even when surrounding areas receive little rain, localized flooding does occur.
In addition to flood insurance, it is important to have sewer backup coverage as well. This provides coverage in the event rains causes sewers to back up into your house. This kind of loss is not covered by flood insurance. The insurance company may attempt to deny the claim saying the city or municipality is responsible for maintaining appropriate sewers. Sewer backup coverage is not offered by all carriers and may require shopping around but is strongly recommended.
3 CHEAP Insurance Coverages You Need #3: Coverage for Valuable Items.
Coverage for valuable personal items is known in geek speak as Inland Marine (personal effects coverage). This “coverage floats with you wherever you go.” Owning a chain like 2 Pac when he was on Deathrow or simply 2 chains, you need this coverage. Your homeowners policy will only provide coverage for $1500 or $2500 for jewelry so additional coverage for that Pac chain is a must. State Farm provides a nice overview of available coverages.
3 Cheap Insurance Coverages You Need Recap
At Dollabuzz we help our readers Get.Their.Money.Right (GYMR). GYMR also involves protecting what you have and supporting your money plan. You worked hard for that house and chain so make sure you have adequate coverage. LTD will help ensure you can pay the mortgage and buy a new chain if you become disabled. Check with your insurance agent about these important but CHEAP insurance options. Yay Yay!