Types of Insurance
The first thing one must look for after purchasing expensive property, such as a house or car, is insurance. Investors and homeowners should seek to be covered by insurance, as it protects properties from risks and liabilities that could potentially become costly.
Lisa Rodriguez from WE Insure Group Inc. offers a variety of insurance such as auto insurance, business insurance, and home insurance. Home insurance covers damage from floods, storms, and natural disasters. She explains that agents at WE Insure Group Inc. are brokers and therefore offer many types of insurance “with over 100 different carriers”. She states, “We do the shopping for you so you don’t have to.” This is favorable to customers because they have to stay in contact with one company while receiving multiple insurance types and plans.
Brokers are defined as a person who buys and sells goods or assets for others. Brokers can work in many job fields including real estate, business, and auto dealing. Agents at WeInsure Group Inc. are brokers who buy and sell different insurance policies for customers. The agents have multiple carriers allowing them to find the best coverage and the best prices for their customers.
Liabilities and risk are some of the main concerns of those who purchase real estate. However, these can be easily managed – according to finra.org – by “hedging (buying a security to offset a potential loss on another investment) and insuring” your property. Using different types of insurance such as auto insurance, business insurance, and home insurance, after purchasing expensive property is a good way to lower the risk and liabilities of owning expensive property for investors and customers and can lower stress when damage does occur.