You may face an important gap in insurance coverage if you maintain a collection of items such as fine art, sports memorabilia, jewelry, guns, furs, antiques, stamps, coins, wine, dolls/toys, action figures or auto/movie memorabilia and rely on your homeowner’s policy to insure your collection. Without additional coverage, your collection will likely be lumped in with the remainder of your personal property if you experience a catastrophic loss due to fire, theft, etc.more »
Let’s say you get into a car accident and either you or someone in your family gets seriously injured as a result of the negligence of a driver operating a car that is insured with minimal limits of motor vehicle liability coverage.
One risk of getting into an accident with someone insured with minimal limits is that you will have access to severely limited funds. To avoid this situation, you should purchase sufficient uninsured/underinsured motorist coverage on your own policy of motor vehicle insurance.more »