PERSONAL INSURANCE

HOME AND CONDO INSURANCE

Home Insurance, also commonly called hazard Insurance or homeowner's insurance (often abbreviated in the real estate industry as HO), is the type of property insurance that covers private homes. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of its use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for acccidents that may happen at the home or at the hands of the homeowner within the policy territory. Condo Insurance is insurance that covers the interior of the dwelling unit.

FLOOD INSURANCE

The National Flood Insurance Program enables property owners in participating communities to purchase insurance protection from the government against losses from flooding. This insurance is designed to provide an insurance alternative to disaster assistance to meet the escalating cost of repairing damage to buildings and their contents caused by floods.

RENTERS INSURANCE

When renting a home or apartment in Florida, the landlord is not always liable for you personal property.Renters insurance,Renters insurance protects your personal property in a rented apartment, condo or home from unexpected circumstances such as theft, a fire or sewer backup damage – and will pay you for lost or damaged possessions. It can also help protect you from liability if someone is injured on your property.

RENTAL DWELLING (Landlord Policies)

Most landlords have three standard policy types available to insure their rental properties. The DP1 is the first, followed by the DP2 and the DP3. The DP1 policy offers the most basic coverage of all the rental property policies. DP2 which is the next step up in coverage. Then DP3 which is the most comprehensive, mostly seen with multi-family properties that are owner and tenant occupied.

HEALTH INSURANCE

Health Insurance is insurance against loss by illness or bodily injury. Health insurance provides coverage for medicine, visits to the doctor or emergency room, hospital stays and other mediacal expenses. Policies differ in what they cover, the size of the deductible and/or co-payment, limits of coverage and the options for treatment available to the policyholder. Healtlh insurance can be directly purchased by an individual, or it may be provided through an employer. Medicare and Medicaid are prograams which provides health insurance to elderly, disabled, or un-insured individuals.

DISABILITY INSURANCE

An insurance product that provides supplementary income in the event of an illiness or accident resulting in a in disability that prevents the insured from working at their regular employment. Benefits are usually provided on a monthly basis so that the individual can maintain their standard of living and continue to pay their regular expenses.

DENTAL INSURANCE

There are several different types of individual, family, or group dental insurance plans grouped into three primary categories: (1) indemnity (or sometimes called true dental insurance or free choice of dentist) that allows you to see any dentist you want who accepts dental insurance; (2) Preferred Provide Network dental plans (PPO); and (3) Dental Health Managed Organizations (DHMO) in which you are assigned to an in-network dentist and/or in-network dental office and use the dental benefits in that network.

LIFE INSURANCE

Life Insurance is a contract between an insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money ( the "benefits") upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also tigger payment. The policy holder typically pays a premium, either regularly or as a lump sum. these expenses (such as funeral expenses)) are also sometimes included in the benefits. The advantage for the policy owner is "peace of mind", in knowing that the death of the insured person will not result in financial hardship for loved ones and lenders. Life-based contracts tend to fall into two major categories: Protection policies designed to provide a benefit in the event of specified event, typically a lump sum payment. A common form of this design is term insurance. The second form is Investment policies where the main objective is to facilitate the growth of capital by regular or single premiums common forms ( in the US) are whole life, universal life and variable life policies.

website source: www.wikipedia.org

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