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In the event of a serious illness or injury, total and permanent disablement, loss of ability to earn or death, personal insurance serves as a type of cover that provides you and your family with the needed financial security.
Through this insurance, you and your family will be provided with the necessary payment that will cover for everyday expenses and any outstanding debts to maintain a standard way of living. There are four major types of personal insurance, they include income protection, critical illness insurance, total and permanent disability insurance, and life insurance.
From homeowners insurance to auto insurance, our agents will locate cost-competitive options with no compromises on coverage or benefits.
You could cause yourself more headaches if you are faced with many different types of insurance policies. Fortunately, all these insurance policies have been divided into four major categories to make things easier and simpler for you without passing through the stress of sorting through them.
Types of Personal Insurance in Florida
Whether you need an individual policy or comprehensive insurance for an entire family, Moran Insurance is the best place to find affordable coverage. There are several essential insurance types that you should consider for the year ahead.
- HOMEOWNERS INSURANCE: If you own a home, you need homeowners insurance. This is one of the most important forms of insurance that offers protection for your most significant investment.
- AUTO INSURANCE: Auto insurance provides protection for several scenarios. In Florida, more than 360,000 drivers are involved in accidents every year. Insurance can provide coverage for liability, property damage, medical costs, and car repair or replacement.
- BOAT & WATERCRAFT INSURANCE: With the right insurance policy, you can get coverage for your yacht and other watercraft that are used for personal enjoyment. If you use a marine vessel for commercial purposes, we can also find affordable coverage.
- LIFE INSURANCE: Life insurance provides essential coverage for critical illnesses and death. Give your family peace of mind by investing in a policy today.
- RENTERS INSURANCE: Even if you don’t own your home, you still need insurance. Renters insurance is an affordable personal insurance option for anyone that lives in a rented or leased residence.
- FLORIDA UMBRELLA INSURANCE: This type of insurance will provide liability coverage that exceeds your other existing policies.
- INDIVIDUAL HEALTH INSURANCE: Health can never be taken for granted. Medical bills can be costly and, in some cases, financially crippling. With individual health insurance, you will know that you are covered for any event.
What You Need To Know About Personal Insurance
Income Protection Insurance
Income protection is a financial cover that provides you with a steady stream of monthly income. It serves as a great assistance during any one your life’s most stressful times such as temporary unemployment. It can also be used to pay rent, mortgage, and daily expenses such as food and bills. It pays you 75 percent of your gross monthly income. However, it remains one of the most overlooked types of insurance policies.
Upon diagnosis of a traumatic medical condition such as cancer, heart disease or stroke, critical illness insurance can be used as a cover to cater for you. Also known as Trauma Insurance, critical illness insurance can cover up to 40 different types of medical events. As a type of living insurance, you do not have to die before you can benefit from it.
Total and Permanent Disability Insurance
The financial freedom that would have been very difficult to achieve at a disabled state is provided by Total and Permanent Disability insurance through a lump sum payment that will cater for all the costs and expenses you incurred if you become permanently disabled, as a result of injury or serious illness.
As one of the oldest existing types of insurance, life insurance was designed primarily to offer coverage for terminal illnesses with life duration of only 12 months or in an event of death. Life insurance pays a chunk sum benefit to your family or financial dependents that can be used to pay for funeral expenses, mortgages, extra expenses for family needs and other financial obligations.
All available insurance plans in the market have been summed up together to establish these four types of insurance. Although they may seem to have similar benefits and features, they have been designed for the singular purpose of providing you with protection and total peace of mind. So, depending on your needs and the risks you might be exposed to, you can separately purchase any one of these personal insurances.
The Best Insurance Agency For Personal Insurance In Florida
Moran Insurance will help you to find the perfect insurance policy in Florida. From homeowners insurance to auto insurance, our agents will locate cost-competitive options with no compromises on coverage or benefits.
Talk to us today to learn more about your options and enjoy peace of mind knowing that you have a financial safety net when you need it.