The Facts About Personal Insurance

For most Americans, buying a house is a huge investment, and it is unnerving to think that everything you’ve worked for may be at risk. Liability exposures can lead to costly claims, and property damage can result in financially crippling repair costs. Luckily, homeowners insurance is designed to protect against many of the potential losses that homeowners face.

Homeowners insurance covers direct damage (but not maintenance) to the structure of your home, the fixtures inside, and the plumbing and heating systems. Detached structures, such as sheds and garages, are also covered. Likewise, your furniture and personal possessions are all protected under a standard homeowners policy, and, in the event that home repairs are required and you and your family are displaced, your homeowners coverage will cover excess living expenses.

Additionally, most homeowners policies come with standard liability protection which will safeguard you in the event that you are responsible for injury or property damage to another person. Homeowners liability protection includes:

  • Medical bills
  • Compensation for pain and suffering
  • Lost wages
  • Legal fees
Flood and Earthquake Coverage

Homeowners insurance protects against fire, storm damage, vandalism and theft. However, it does not protect against flood or earthquake damage. Crouch Insurance Service understands the limits of different types of coverage and will help you obtain all-encompassing protection for your home with supplemental flood and/or earthquake policies.

Apartments and Condominiums

Renters and condo/townhouse owners face different risks than homeowners, but these risks still must be mitigated with proper insurance protection. If you rent an apartment, renters insurance will protect your personal possessions, electronic devices and furniture. Condominium insurance protects the inner structure of your individual condo unit, along with the personal property inside.

Contact Crouch Insurance Service by calling 703-591-8300.

  • Liability Coverage – If you are found liable for injuring another person or damaging their property, liability insurance protects you. In most states—including Virginia—liability coverage is required by law.
  • Collision Coverage – While liability insurance pays for damage caused to other people’s property, collision coverage reimburses you for damage to your own automobile, should you collide with a fixed object such as a guardrail or street sign.
  • Comprehensive Coverage – Collisions with other vehicles aren’t the only risks you face as a driver. If your car is stolen or vandalized, damaged by hail or severe weather, or if you hit a deer while driving, comprehensive coverage pays for repairs to your automobile.
  • Uninsured Motorist Coverage – Not everyone is as responsible as you! Should an uninsured driver be at fault for injury to you or damage to your property, uninsured motorist coverage will pay for your medical bills and repair costs.
  • Personal Injury Protection – Should an auto injury leave you unable to work, personal injury protection provides income continuation compensation. Likewise, this type of coverage helps pay for the costs associated with the services you’ll need until you’re on your feet again, such as childcare.
Not Just for Cars

Auto insurance is not just for sedans or sports cars; it’s also necessary for motorcycles, RVs and off-road vehicles. Crouch Insurance Service recommends different combinations of coverage based on the type of automobile you drive, frequency of use, and average distance traveled.

Contact Crouch Insurance Service by calling 703-591-8300.

Not only is health insurance mandatory for all Americans under the Affordable Care Act*, but it could mean the difference between bankruptcy and long-term financial protection. Therefore, if you do not qualify for group benefits under your employer’s insurance plan, you’ll need to get individual or family health insurance on your own. Crouch Insurance Service can assist you in finding an affordable plan that protects you in the event of illness or injury.

Doctor’s visits, prescriptions, physical therapy . . . medical costs add up quickly! Understanding what various plans do and do not cover is an essential part of finding a medical insurance policy that’s right for you. Some plans have low monthly premiums but high deductibles. Other plans can be pricier on a monthly basis, but have low deductibles and offer broader benefits. Are you flexible when it comes to choosing a doctor, or will specific doctors impact your plan choice based on the networks to which they belong? Each of these variables plays a part in determining what health insurance policy is right for you.

Long-term Care Insurance

The truth is that health insurance, Medicare and Medicaid fall short when it comes to long-term medical care. The cost of ongoing, long-term care is overwhelming, but long-term care insurance provides nursing home and in-home care benefits to give you the care you need when you are unable to perform the basic activities of daily living, such as bathing or dressing yourself.

Dental & Vision

Medical care isn’t the only aspect of your well-being that can be costly; oral and optical care can put a strain on your purse strings, as well. Having proper dental coverage can help with the cost of dental visits, including cleanings, fillings, crowns and root canals. Likewise, vision insurance can alleviate the costs associated with optometrist visits and vision correction.

Life Insurance

Though unpleasant to think about, financially preparing your family for your death is a sound strategy to help ensure their well-being after you’re gone. Crouch Insurance Service can help determine whether a term-life or whole-life policy is right for you and your loved ones.

Contact Crouch Insurance Service by calling 703-591-8300.