Basic Types of Home Insurance Policies

Your home is likely your largest asset, so protecting it, and yourself, in the event of damage or liability is essential. Many homeowners have different situations and unique needs, but most require these basic types of home insurance Connecticut agents offer.

Liability

A liability policy protects you and your assets in the event of a lawsuit. If you or someone in your family causes bodily harm to another person, liability insurance can cover your defense costs so that you don’t have to pay out-of-pocket. Most homeowners’ insurance policies include liability.

Personal Property

If desired, you can choose a personal property policy. This type of policy covers the items inside your home that could be damaged and may include furniture, clothing and electronics. The home insurance Connecticut residents often use includes personal property protection.

Cash Value

A cash value home insurance policy would pay you the original cost of your home, minus depreciation, even if the value appraises higher.

Replacement Value

Some people choose replacement value policies to cover the cost of repairing a home or personal possessions up to the value of the policy.

When it comes to home insurance Connecticut residents prefer to pick the policy that works best for their situations. You can determine your needs, then choose a policy that gives you the protection and security that you feel most comfortable with.

Everything You Need to Know About Errors and Omissions Insurance

When it comes to e&o insurance cost, some business owners may feel that these policies are not entirely necessary. However, errors and omissions insurance is a must for every business owner that affords a service to clients and customers. In the event a customer is dissatisfied with a given service, your company may face stiff legal fees as a result.

What Types of Businesses Need E&O Coverage?

Practically every industry and profession must have some sort of errors and omissions policy in place to ensure total coverage. This includes IT professionals, HVAC workers, electricians, plumbers and everything in between. Because every business is bound to have a differing set of needs, it’s best to utilize a policy that can be tailored to your specific interests.

What Is Covered By E&O Policies?

Lawsuits can occur for a variety of reasons, and in many cases such lawsuits can be extremely damaging. That’s where errors and omissions insurance comes in. These policies can help to cover court costs, which can become increasingly expensive over time. Errors and omissions coverage can also help you pay for any damages awarded as a result of litigation, thereby keeping your business intact.

Your Business Can Thrive With Quality Coverage

Those looking into e&o insurance cost must keep in mind the damage that can occur from a single lawsuit. With the right policies in place, your business will continue to thrive no matter what.

 

photo credit: Official GDC cc