CompleteMarkets – Where Insurance Goes to Network™CompleteMarkets – Where Insurance Goes to Network™

Common Insurance Coverage Gaps

You've purchased auto and homeowners or renters insurance like a responsible consumer. However, you could have insurance coverage gaps that threaten your assets. Here are a few common ones that you should consider closing as you save money, protect yourself and gain peace of mind.
  1. Transportation Expense Coverage
    Your auto insurance covers medical expenses and liability. Does it also provide you with a rental car or other transportation after an accident? Transportation Expenses coverage can cost as little as $8 per vehicle per year and gives you access to a rental vehicle or other form of transportation. It lessens your stress after an accident and minimizes disruptions to your daily life.

  2. Personal Catastrophe Liability Coverage
    Also known as an umbrella policy, personal catastrophe liability coverage protects your assets if you are sued after an accident. It can cover any expenses related to a personal injury or liability lawsuit and any lawyer fees, hospital bills and related expenses you may incur. This coverage starts at $150 per year and provides priceless peace of mind for you and your family.

  3. Valuables Coverage
    The average homeowners insurance policy includes a $3,000 limit on personal items. Does that amount cover the replacement of your expensive electronics, jewelry, artwork and furs? If not, buy an endorsement or rider. It gives you extra coverage for valuables and protects your items if they are lost, stolen or damaged.

  4. Flood Insurance
    While you might not live in a high-risk flood area, one in five flood claims occur outside of high-risk flood areas, and an inch of water can cause major damage to your home and possessions. Protect yourself with flood insurance. In many cases, there's a 30-day waiting period for this coverage, so apply for it today and reduce your risk.

    5.
  5. Life Insurance
    Your group life insurance policy may cover you for twice your annual salary, but that money is probably not enough to cover your final expenses and care for your family. Purchase your own policy with a death benefit of six to eight times your annual salary. Investigate different types of life insurance policies and coverage amounts as you care for your loved ones.

    6.
  6. Outdated Insurance Polices
    You pay your insurance premiums on time so that your policies don't lapse. When was the last time you reviewed your coverage? Adjust your homeowners coverage after renovations or when you sell collectibles. Check your auto coverage, too, to ensure it's sufficient for your household vehicles and drivers. Policy reviews take a few minutes but can save your thousands of dollars and give you hours of priceless peace of mind.
Your insurance coverage protects your assets. Consider closing any gaps today.
Need insurance for You, Your Family or Your Business?
We can match you to a qualified, local insurance expert!
Get A Quote
Further Reading
Just as one might use a CPA to prepare their income taxes or an attorney to help them with their estate planning, many choose to use an insurance agency to write their insurance policies. This choice is mainly made because a person feels they need pr...
Your business insurance value has no relation to your policy premium or your policy premiums, the value of your insurance portfolio related directly to the risks you insure against. If you are not an insurance expert, it is important for you to meet ...
Renting a house saves you big bucks on vacation since it's usually cheaper per night than a hotel. Plus, you have amenities like a washer and dryer, kitchen, full bath and maybe even a large backyard. That doesn't mean, though, that your vacation hom...
You're facing a deadline to complete work under a major contract - when a voltage spike surges through your electrical lines, burning out computers and telephone equipment. How would you pay for replacing or repairing the damaged equipment, taking ...
No one can deny that the Affordable Care Act has sparked national debate over the nation's health care system. The success of this new law remains to be seen, and the debate will continue. Critics of the Affordable Care Act fear that it means the end...