Washington Insurance
There are various types of insurance plans available in Washington State of USA which is regulated by the government of Washington State so that it can be easily used by the residents of it. There are strict guidelines of the government for the control of various insurance agencies operating in Washington State. Important types of Insurances in Washington State are Auto insurance, Life insurance, Health insurance, Home insurance Liability insurance, Earth quake insurance, Flood insurance, Crop insurance and etc.
Auto Insurance: There are more than 60 auto insurers currently in Washington State. Washington Insurance Commissioner Office. All these companies have various types of policies, rates of which policies depend on the risk level included in the policy. Car and medical care rates are increasing every year and so the insurance premium rates are also increasing there. Liability insurance is a type of auto insurance in which the body and property injuries are included and it is mandatory for all auto drivers to be insured. Minimum guidelines by the state law for the liability coverage are given below which are also referred as 25/50/10 coverage.
i.) 25,000 $ per person
ii.) 50,000 $ per accident
iii.) 10,000 $ for property damage
You must check the terms, conditions and the coverage in the policy in the policy declaration. Personal injury protection can also be included in the coverage for medical claims. Collision which cover the damage of your vehicle. Comprehensive insurance covers damage to your car other than the collision and damage and injury to the other driver. The factors on which the premium rate of the policy depends are:
i.) Age of the driver
ii.) Marital status
iii.) Claim history of the driver
iv.) Credit history of the driver
v.) Location and etc.
Life Insurance: Every one wants to make sure that his family members and loved ones are to be taken care after his death. Then you should purchase a policy but at best price and after some research. Always purchase the policy which is best suitable to you. The rate of the life insurance policies depends upon various factors like age, health, coverage and many other factors. If you want to purchase a policy then as soon will you purchase the policy better rate will you get. After certain period of time you must analyze the policy, compare it with other policies and depend not only on your employer. You must consult more than one company than only one because there may be variation between the prices of different companies. You can search online for their policies and rates. The younger you are the better rates will you gain by the insurance companies. It is of two types:
i.) Term Life Insurance: This type of insurance policy is for some specific time period.
ii.) Whole Life Insurance: This type of insurance policy provides you life time coverage
Health Insurance: There are various types of health insurance plans are available in Washington from which you can take any one depending on your requirements. In health insurance, there are basically two plans:
i.) Employer's plans: It is a type of group insurance which is purchased by the business employer.
ii.) Individual/family plans: These are also known as commercial health plans. It can be either of an individual or the whole family.
Home Insurance: There are basically four categories of health insurances:
i.) Basic insurances
ii.) Broad Insurances
iii.) Special Insurances
iv.) Comprehensive Insurance
These all policies vary in their prices and the coverage included in the policy, so you have to read each of them carefully and select one of them that is best suitable for you and is according to your financial status. In basic, the coverage includes fire, theft and many other types of perils. Some other may include personal properties, medical claims and other liability coverage.
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