Between personal and commercial property and investments, there is always a need for insurance of some kind. Insurance is a contract that financially protects a person or entity against losses. Damage covered can be to the insured and their property or from liability for damage or injury caused to a third party. Many entities and operations require certain insurance policies to even be eligible to have specific privileges such as car insurance or worker’s compensation insurance. Though there are an almost endless amount of different kinds of insurance that one can have, the most common kinds are for auto, health, home, and life.
An insurance policy usually involves three components that are essential to choosing the right policy for your needs. These parts are the premium, the policy limit and the deductible. The premium is the price of the monthly cost of the policy. It is usually determined by the risk profile, which can include credit. The maximum amount that will be paid for a covered loss is the policy limit. This can be set by an annual or term period, per loss or or injury or over the lifetime of the policy. Lastly, the deductible is the set amount that a policyholder must pay out of pocket before the insurer pays the claim. They are meant to prevent a policyholder from making many or smaller insignificant claims.
Common Kinds Of Personal Insurance
Car insurance covers many facets of automobile incidents. Policies can range based on desired coverage, but common aspects of coverage are always offered. These can include bodily injury liability for collision and damage to property caused by insured persons. This also involves issues where the insured person is not at fault, such as collision damage, comprehensive coverage for damage outside of a collision, medical payments for injuries caused by any party, rental reimbursement for rental cars during repair, towing and labor for minor repairs, etc. Uninsured motorist coverage is also offered, and bundles vary based on individuals.
Health insurance is crucial for medical and surgical expenses that can easily incur a large balance. Medical insurance can pay for fees acquired due to health-related issues. This health insurance can reimburse the insured individual or pay the health care provider directly. Policies can cover or share the expenses obtained based on the coverage selected. Offsetting these costs can save an individual the headache of recovering from an accident.
Homeowners insurance covers losses and damages to a house and assets in the home. This property insurance is crucial for accident prevention and can also provide liability coverage against accidents in the home or on property. Different package policies can insure members of the household, spouses, and children. Your house is more than a home, it is a sanctuary, and deserves to be treated like one.
Life insurance can never substitute the loss of a loved one, but it can help offset the strife of dealing with the unexpected financial burden of this loss. A life insurance policy can either pay out a sum of money on the death of the insured individual or make payments after a set period of time. The purpose of this is to substitute the insured’s income for the named beneficiary. Financial burdens in the face of tragedy add unnecessary stress that can be alleviated through a life insurance policy.
S.T. Good Insurance in Stuart Florida
S.T. Good Insurance was founded in 1979 in Newark, Delaware providing the aviation industry with everything aviation business owners and pilots needed to protect their investments. By following strict standards of quality, honesty, and hard work, S.T. Good has grown into what it is today providing a full scope of insurance needs including commercial, personal, and health. In 1992, Samuel Good III, relocated to Stuart Florida and opened S.T. Good Insurance of Florida’s main office. Since then, S.T. Good Insurance of Florida has developed into an industry leading independent insurance agency providing the full spectrum of insurance types, including but not limited to; commercial, personal, home, auto, and aviation.
Our purpose is to provide insurance products and services to our clients. We should act as their adviser and agent putting their interests first. We are confident that if we do our jobs well and give value for what we charge, not only will mutual trust and respect develop, but satisfaction, respect, and profits will result. Our team of knowledgeable insurance professionals is experienced in creating personal and commercial insurance policies designed to fit your needs. At S.T. Good Insurance of Florida, our friendly staff will work with you on a one-on-one basis to develop not only the perfect policy, but a lasting relationship.