You likely have car insurance that covers accidents, etc. There are other policies you may want to consider. Covering everything that you can will save you money, and the extra cost each month is well worth it.

Comprehensive Coverage

Thieves target car parts that are worth money to them. For example, the catalytic converter can be worth over $100 to a thief when sold to a scrap metal dealer. The catalytic converter can be easily removed by either unbolting it or cutting it out.

If you have a truck, you are the main target of a thief. This is because it is easier for the thief to crawl under to remove the converter. It only takes a few minutes to steal the converter, as it can be unbolted or quickly cut off.  To make it much harder to steal, take your car to a mechanic and have them weld metal rods to the converter to make it much more secure.

If you want your car insurance to cover the catalytic converter, as well as other car parts, you will need to purchase comprehensive coverage. For example, it can cost up to $800 to replace a catalytic converter, depending on the model of your vehicle and the mechanic.

This extra comprehensive coverage may also cover damages to your car due to a break in, such as broken windows, airbag deployment, etc., as well as cover it if it is stolen.

Umbrella Policy

If you are in a car accident, there is a chance that you could be sued. If this happens, the other party may win the lawsuit, and you will likely have to pay for their medical expenses, lost wages, and more. In cases like this, an umbrella policy will cover you. The umbrella policy also protects your personal assets, as well as your future personal assets, such as lottery winnings, an inheritance, and losing your wages.

The umbrella policy also covers property damage. For example, it will cover damage to property or vehicles because of your car accident if you are at fault. It will even cover claims when your pet chews up your friend's expensive rug, if your child damages school property, etc.

If you have rental property, this policy can protect you from liability resulting from one of your tenants falling outside, if they have a dog that bites someone, etc. It can also protect you from slander, libel, false arrest, etc.

Talk with an insurance agent, like Jimmy Fisher State Farm Ins, if you have questions about these policies. He or she can explain them to you in more detail to help you decide on what is best for you.