Individuals need many types of insurance. Sometimes, this is a legal requirement. At other times, coverage simply brings protection that is needed to provide peace of mind that a disaster or other bad event won’t wipe out thousands of dollars. Two of the most common types of insurance purchased for this purpose are car insurance and homeowners’ coverage.
car insurance in Canton can range from the minimum legally-required coverage to policies that cover even the tiniest scratch. In Michigan, the minimum coverage is called PLPD, which stands for “personal liability; property damage.” If you hurt someone in a car accident in which you are at fault, or you damage their property, this insurance covers the costs. This coverage, however, doesn’t protect you from costs related to injuries or damage that you suffer yourself. For that, you need to move up to collision insurance. If you want protection from theft, storm damage, vandalism and other non-collision-related damage, you need comprehensive auto insurance. Which types of coverage are best for you depend on things like your likelihood of getting into a crash or having your car stolen. Often, where you drive and park your car has much to do with your level of risk and which types of risk you’re likely to encounter.
Home insurance in Canton is required by banks and finance companies when you have a mortgage, but it’s still useful even if your house is paid off. It can pay for repairs if your house is damaged by a storm, cover the replacement cost of the house’s contents if they’re damaged or stolen, and can even pay for a house to be completely rebuilt if it is destroyed by a fire or other such disaster. This type of insurance also provides liability coverage, so if someone gets hurt in an accident on your property, the insurance will pay the damages up to your coverage limit.
If you’re interested in home insurance or car insurance in Canton, you should talk to a qualified agent to see what kinds of coverage are available and decide which ones are best for you. Tailoring your coverage to your specific needs will ensure that you’re covered for likely risks but aren’t paying for any unneeded specifics.