June 8, 2016 | Home Tips

The team at North American Advantage Insurance Services shares the basics on property insurance to help you find the right coverage to protect your investment.

Property insurance is a very broad term that refers to any insurance policy that will protect your property, which can include physical property or even your identity. Knowing the basics of property insurance can help ensure you get right insurance to best protect your assets.

Some of the most common types of property insurance include: 

• Homeowner's insurance

• Condo insurance

• Renter's insurance

• Mobile home insurance

• RV insurance

There are also many other types of property insurance that will all work to keep your assets safe, including:

Flood insurance

Even though your home insurance policy will provide coverage for many incidents, it may not provide any coverage for damage that is done during a flood. Investing in a specific flood insurance policy will help to keep your home and personal belongings safe when the waters start rising. When selecting a policy, be sure determine if flood damage is covered. 

Commercial real estate insurance

Insuring a commercial building is slightly different than insuring a residential property, which is why the building will require a specific policy. 

Personal umbrella insurance policy

The coverage provided by an umbrella policy will provide additional liability coverage that will kick in once the liability limits of all of your other insurance policies have been met. 

Identity theft coverage

If you are the victim of identity theft, your identity theft insurance policy will cover the costs of credit monitoring and other services that are needed to get your identity and credit back where it should be. 

Working with the right insurance professionals can help to make sure that you find the right property insurance policies that will provide the coverage that you need. The team at North American Advantage Insurance Services can help with all of your property insurance needs and answer your questions. 

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