Auto insurance is a coverage for cars, trucks, motorcycles, and other road vehicles, which provides financial protection against property damage or bodily injury resulting from traffic collisions. Auto insurance also protects financial protection from property damage or bodily injury from any non-collision causes. Maintaining a car insurance is needed not only for financial protection but because it is required by law. When you get pulled over for a minor traffic violation, the officer would immediately ask for your driver’s license and insurance card. A simple ticket might turn into jail time if you can’t present a proof of auto insurance.

Homeowners Insurance protects homeowners against damage to home and belongings from a covered cause of loss. The basic covered causes of loss are fire, lightning, windstorm or hail, explosion, smoke, vandalism, aircraft of vehicle collision, riot or civil commotion, sinkhole collapse, and volcanic activity. The broad coverage will cover the basic perils or cause of loss plus  the following:

• Burglary/Break-in damage
  
• Falling Objects like tree branches
  
• Weight of Ice and Snow
  
• Freezing of Plumbing
  
• Accidental Water Damage
  
• Artificially Generated Electricity
  

A condominium is a form of homeownership in which the apartments in a building or houses in a development are individually owned, but common areas, such as lobbies or halls are jointly owned. Condominiums constitute 4.7% of all housing units according to the US Census Bureau. Another way of saying that is that about 95% of homes are not condos. Being that owning a condo is relatively unusual, it is not surprising that there is confusion over what insurance is adequate to protect the condo buyer’s interest.