Personal Insurance
ARA Risk Management, Inc. can provide the following types of personal insurance protection
AUTO (PERSONAL)
This coverage has two parts. The first part is the liability section of the policy. It covers your financial responsibility for injury to others, and most states require some content.
The second part concerns the car itself: comprehensive coverage refunds losses from fire, theft, or other hazards; collision coverage pays for damages caused by accident. Leasing companies or banks often mandate this coverage. There is also ancillary medical, car rental, and other content that varies depending on the state.
Using high deductibles for physical damage coverage can help reduce premiums. If you have umbrella insurance, you must be sure you have the required amount of basic liability insurance to avoid a gap in coverage for a severe accident.
BOAT & MARINE
Boat or Marine insurance is available for small boats, yachts, high-performance powerboats, live-aboard houseboats, catamarans, or pontoons. Marine insurance will cover intended use, including personal recreation, commercial, or charter vessels.
Boat policies can cover damage to your boat, engine, trailer, and personal effects on your ship. Coverage includes liability, medical payments, water skier injury, and damage to the boat itself, sometimes referred to as hull coverage. The availability varies by state and the insurance company. Even though the boat insurance premiums are low, shopping at your rate can sometimes save a substantial amount.
CONDOMINIUM
Condominium insurance provides coverage to your unit where your condominium insurance policy stops. Your association typically insures the building and other common areas. You are in charge of the interior of your company. Typically, you need coverage of personal property and liability, besides covering your floors, walls, cabinets, and fixtures that your association’s insurance may not cover.
Each association’s insurance policy differs from what each unit owner is responsible for, so it is essential to review your association policy and condominium regulations carefully.
FLOOD
Did you know your homeowner’s insurance does not cover that flood damage? Flood Insurance is only obtainable separately. The flood insurance policy also reimburses you for the work you and other family members did to sand your homes, move furniture, and remove debris.
For Flood Insurance, FEMA (Federal Emergency Management Agency) maps are crucial. If they show that your home is in a 100-year flood plain, you need to buy Federal Flood Insurance to get a mortgage. Flood insurance is optional if you live outside a high-risk area or if you no longer have a mortgage.
HOMEOWNER'S
ARA Risk Management, Inc. offers a wide range of property and liability insurance solutions for those with a lot to protect — from high-quality homes, fine arts, and jewelry to luxury automobiles and yachts.
If you have tangible assets, you need the protection of a homeowner's policy. These policies cover you in a home or an apartment, whether you are an owner or a renter. Replace any of your personal property destroyed in a fire or other catastrophe; a well-written homeowner policy will pay. The system will also be the first line of defense against prosecuting someone injured in your house.
Several rating factors determine the cost of this coverage. The insurer's rate determines the quality of the content. Suppose the policy written is on a risk or all-risk basis. In that case, only those losses referred to in the contract are covered by the named-perils policy. Unless it explicitly excludes the risk, the all-risk policy operates in the opposite direction when provided with coverage. The all-risk policy is a broader system, and the burden of proof in the event of a loss is on the carrier, not you.
PERSONAL WATERCRAFT
Personal watercraft, such as jet skis and wave runners, are often the first step in our customers' boating world. Personal watercraft are extremely invigorating and fun for water lovers of all ages; however, they are not toys. Whether you're a first-time boater or an experienced captain, it's vital that you have the proper coverage for these vessels. ARA Risk Management, Inc. has policies explicitly tailored to your watercraft. Likewise, because of our expertise in this area, we also can provide commercial marine insurance to companies that rent personal watercraft.
RENTERS
As a renter, you need to protect your personal property against theft and damage. Our Renters' Insurance is hard to beat for convenience and value. Plus, we're going to assure you of the peace of mind you need for your valuable items and electronics.
Renters insurance can help protect you in the event of a liability lawsuit against you. This event could happen in a situation where you are held responsible for:
INJURY TO ANOTHER PERSON
Damage to another person's property (The incident could have occurred within your rented residence, or elsewhere.)
TRAVEL INSURANCE
When you travel abroad, one of the most important financial considerations is how to protect you and your family’s health. Without proper coverage, illness, or injury abroad may turn into a financial disaster. Whether you’re a corporate traveler, an international student studying abroad, a family on vacation or a reunion, or an individual traveling abroad for work, pleasure, or education, don’t let an accident or an unexpected medical emergency ruin your trip. Traditional U.S. private health insurance sources will not meet your needs. Geographical exclusions and limitations common to these policies will restrict or even eliminate the coverage while you are outside the U.S. You may not be eligible to participate in government-sponsored plans in the country where you live.
VALUABLE ITEMS
Your possessions may be more valuable than you know. Most homeowner policies provide limited coverage for personal items such as jewelry, cameras, golf equipment, fine arts and collectibles, and computer equipment. We can provide you with the additional protection you need.
Valuable items coverage may cover a variety of properties.
Artwork
Baseball cards
Books
Coins
Computer equipment
Firearms
Furs
Golf equipment
Jewelry
Memorabilia
Musical instruments
Oriental rugs
Silverware
Stamps