Why People Really Need Insurance Orange County

The real reason people need insurance orange county is to protect themselves

. Many people think because insurance is required on automobiles and homes, the protection is for someone or something else. Although the State of California requires every automobile owner to carry liability insurance and lenders require homeowners with mortgages to invest in fire insurance coverage, insurance policies are a wise way to reduce risk and protect assets. Insurance companies collect a fee (insurance premium) and are responsible for paying the cost of any covered event. There are two parts to insurance: the coverage and the cost. Understanding insurance policies help owners learn how they can save money without increasing their risks.

Liability insurance is required on all automobiles operated within the State of California with minimum limits of $15,000 per person, $30,000 per accident and $5,000 for property damage. These protect other people in case of an accident caused by the policy holder. Vehicles financed require full coverage which is comprehensive and collision insurance; this insurance pays for damages to the vehicle. Special policy riders covering uninsured motorist, under insured motorist and medical payments are common additions. For many people the most important part of this insurance coverage is the fact that the insurance company handles all negotiation, settlements and legal costs up to the liability limits in the case of a lawsuit or accident.

The same applies to homeowners insurance orange county. Lenders require fire insurance on the buildings to cover the outstanding mortgage. These policies also have content coverage which insures the personal property of the policyholder like furniture, clothing, computers and jewelry. Homeowner policies contain medical insurance coverage and liability insurance. If someone slips and breaks a leg, the insurance company will pay the medical bills. Additionally if someone sues the homeowner because of an accident, the insurance company will hire the attorney and settle or defend the legal action.

Combining these two insurance policies is one, easy way to reduce insurance costs. Many times policy owner will save 10% to 20% on both insurance premiums. Shopping different insurance companies is another way to find cheaper insurance. Drivers can reduce cost by increasing the deductible which is the amount of money they will pay in the event of a claim, storing the vehicle in a garage and keeping their driving record clean without traffic tickets or accidents. Adding a home security system to the house save homeowners money and protect the building and personal property from thieves.

The real reason people need insurance orange county is to protect themselves, their personal property and their valuable assets. Insurance on automobiles and homes can cover the value of these items. Insurance policies buy peace of mind; they provide legal defense when a lawsuit or claim is filed against the policyholder.

by: Fern Baptiste

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