With a few notable exceptions, the United States is a car-oriented country. Having to take public transportation can often result in much longer, less convenient travel routes, especially in Arlington, TX. If you suddenly find yourself without a car because yours is in the shop after an accident, a rental car would be an obvious solution. However, the cost for one of those adds up over time. Your car insurance could provide a way to stay behind the wheel, though, if you have a type of coverage called rental reimbursement.
A Sort of Safety Net
Rental reimbursement covers a portion of your rental car costs if you have to rent because of an insurance claim. It doesn’t pay for rental cars if your car is undergoing regular maintenance or repairs. If you were in an accident, though, and you had to file an insurance claim, it would help you pay for a rental car.
Policies vary, but in general, this would reimburse you for a specific number of days up to a specific amount of money per day. You’d likely have to rent an economy car, which should be fine for the time your own car is undergoing work. It is possible that you would still have to pay part of the rental cost yourself, but your overall bill would be less expensive after applying the coverage.
Don’t Ignore This Coverage
Rental reimbursement is one of those additions that often gets dropped in order to save money. This isn’t always the best move as it leaves you unprotected if you need to rent a car. This type of reimbursement is like any insurance — it’s better to have it and not need it instead of needing it and not having it.
If you have a policy with State Insurance Solutions, speak with your agent in Arlington, TX to see how much adding rental reimbursement coverage would cost — it’s usually not that much. If you find yourself trying to streamline your policy instead, to save money, your State Insurance Solutions agent can take a look at your policy and help you work out a better way to save without dropping coverage.
Your Arlington, TX home is probably your biggest asset and investment, so there’s a lot to take into consideration when trying to determine how much home insurance coverage you need. While it might be tempting to buy just enough coverage to keep your residence and possessions protected from loss, theft or damage, in order to avoid major financial harm, some homeowners need extra insurance coverage. The following questions from State Insurance Solutions will help you decide if opting for additional umbrella coverage is the smart choice for you.
Do You Have More Valuable Personal Property Than You Think?
While you may not think that you own anything of extreme value, you may be underestimating your property’s worth. Opting for standard coverage may not protect your valuables. Collector’s items, electronics, musical equipment, coins, art and jewelry can all carry hefty replacement price tags. If you’re only carrying the minimum amount of homeowners insurance for your belongings, it would be smart to take a personal inventory, or have a professional appraisal of your property to ensure you are completely protected in the event of a loss.
How Much Personal Liability Coverage Do You Need?
Accidents happen. While nobody expects to be sued for personal liability, what will you do if someone trips on your patio and sustains a serious injury, or if a tree on your property falls on your neighbor’s house? There are a variety of situations where you may be held liable for injury or damage, which can take a toll on your financial security. For example, you may be liable if a guest at a family get-together has a few too many drinks and gets behind the wheel. Having the right amount of insurance coverage can ensure that an incident doesn’t wipe you out financially.
What Other Structures Are On The Property?
Other structures and improvements on your land require coverage, too. If you have built an office or utility structure, or have invested in secure fencing for your Arlington, TX acreage, they can sustain damage which needs to be covered. Even expensive landscaping with mature trees and shrubs should be considered in your policy coverage determination.
At State Insurance Solutions, we’re dedicated to making sure you have a homeowners insurance policy you can rely on in the event of a personal injury or loss, theft, or damage to your property. Call our office today for information about how additional umbrella insurance coverage can keep you protected from major legal bills or financial hardships.