Figure out how much your stuff is worth.
“There is value to everything when it comes to renters insurance,” says Terry McConnell, vice president, Personal Lines Underwriting, at ERIE. “Most people underestimate the value of their contents, but once they itemize them, they realize there’s a dramatic difference from what they initially thought.”
Sometimes businesses just happen. You’re providing care, making clothing alterations or offering writing advice to friends, families and neighbors—just because it’s what you do. Then, one day, someone recommends you and someone you don’t know asks, “How much for your service?” Are you ready to charge? How much will you have to pay taxes? And when should you buy insurance for business?
Auto insurance typically follows the car rather than the driver. This means that your insurance will likely pay if your friend crashes your car.