Living In USA

You might think this subject need not concern you. Unfortunately, there is a growing need for everyone to carry liability insurance as well as health insurance, because an increasing number of people are claiming high damages after even the simplest and most ordinary of accidents. If someone trips on your front step, or your dog knocks over a child, or your cleaning woman gets burned on your stove, he or she could — and a growing number do — enter a lawsuit against you and claim damages out of all proportion to the accident. Courts assume that everyone is covered by insurance, so they often award far more in damages than would seem reasonable to most of us. If you do not carry insurance for such a situation, you could be in serious financial trouble.

The term to use when inquiring is comprehensive liability, which is included in a homeowner's policy. An insurance agent will advise you about the proper level of coverage for your income, the size of your family, and so on. Be sure to consult a responsible agent who will not sell you more insurance than you need. Find an agent through your firm, someone you know in a bank, a friend, or a lawyer. When you get the agent's advice, it is a good idea to discuss what has been recommended with a colleague or friend before actually signing any contract. The more the agent tries to rush you, the more cautious you should be.

You should also seek advice on other kinds of insurance according to the value of your possessions and property. If you did not bring any jewelry, fine paintings, or furniture, you may not need to carry such property insurance as fire or theft, but you should discuss this carefully with a knowledgeable person. Generally speaking, you need cover only a few selected, expensive, and irreplaceable possessions (such as jewels, furs, or cameras, for example) for theft. If you are renting an apartment, you can buy an inexpensive renters' insurance policy. If you buy a home, a homeowner's policy is mandatory, and it is probably worth an upgrade of both the liability and the personal property portions. You will need adequate health and accident insurance because medical costs are so high here, and you need auto insurance if you plan to drive.