For residents of Washington, insurance is a common part of life that most adults must consider at one point or another. Whether living in Seattle, Tacoma, or a small town, there are many different reasons people require insurance coverage.
People who drive require car insurance. Drivers are legally mandated to carry automobile coverage that will compensate accident victims in instances in which the policy holder is at fault. Automobile insurance also pays for damage that occurs to property that may belong to a third party, such as an uninvolved homeowner’s fence that was impacted during the accident. Washington State requires drivers to have the following liability coverage minimums:
Single family homeowners require home insurance. This type of insurance policy protects homeowners against damage that may occur on the property as well as the loss of personal property within the home. Examples of instances that are typically covered by a home insurance include fire, windstorm damage, burglary, and water damage. Injuries and personal items of guests who are vising the home are also usually covered. Washington State does not require property owners to have home insurance; however, having this type of coverage is sensible as damage caused by natural disasters, theft, and accidents is generally unforeseeable.
Health insurance is required by people who do not wish to pay 100 percent of the cost of medical expenses. Many people who work full time are able to receive medical insurance through their employer. Self-employed, unemployed, and people with other work statuses may purchase an independent policy through a health insurance company. Spouses and children also typically have the option of being covered by their spouse or parent’s policy. Washington State’s Basic Health program, which provided low-cost insurance coverage will be discontinued as of December 31, 2013 and will be replaced by programs under the federal Affordable Health Care Plan January 1, 2014.
Many insurance companies offer several different types of coverage. Policy holders may receive a discount by combining their insurance needs in an insurance bundle. For example, a customer may choose to have their homeowners and automobile insurance policies with the same company. Consumers must remember to shop around, compare rates, and also consider the value of services each insurance company offers. The ideal insurance provider will be very understanding and easy to communicate with both in the event that the unexpected happens and the customer needs to make a claim.