Insurance is one of those things that you think you don’t need until you do. And when the day comes that you do need it, you’re glad that you signed up for the best policy you could afford. Despite the hassles and monthly payments, insurance does help to safeguard you against loss and property damage. Life, home and car insurance safeguard you and your family, indemnifying you against potential problems.

Combining your policies makes sense
Insurance companies that provide different types of insurance – home, life and auto insurance, for example, generally offer discounts to customers for “bundling” or buying multiple policies from the same company.
For the customer, purchasing all policies from the same insurance company cuts down on the paperwork as well as offering a discount on the policies. And having once found a reliable insurance company that you can trust, it makes sense to stay with them.
How often do people actually need to use their insurance services? Luckily, it’s not that often. With insurance, if you don’t have to use the service, you can actually count yourself lucky. For homeowners, the most common property claims were due to fire, water damage and break ins.

Home insurance
Home insurance, also known as homeowners’ insurance, provides property insurance for a private residence, covering losses and damage to the home, its contents, as well as the loss of use due to a fire or other problems. Homeowner liability insurance covers accidents that may be caused by the homeowner within area covered by the policy.
Luckily, homeowners rarely need to make property claims. As a percentage of the total, only 5.3% percent of insured homes presented claims in 2014. This amounts to one out of fifteen homes having a claim each year.
Most claims, or 97.3%, were due to property damage, which includes theft. Property damage can also be caused by the weather, such as wind and hail. Another frequent cause of home property damage is flooding due to the freezing of water pipes.

Car insurance
The two major types of car insurance cover bodily injury and property damage. The amount of coverage required by law varies in the 50 states. It ranges from $20,000 in Florida to $100,000 in Alaska and Maine for minimum bodily injury liability coverage, and from $5,000 to $25,000 for minimum property damage liability.
Claim amounts can vary, but in 2015, the average property damage liability claim was worth $3,493, and the average bodily injury liability claim was worth $17,024.

Different types of home and car insurance allow you to safeguard your property and to meet your public safety obligations.