Is insurance that is offered to individuals and families rather than organizations and businesses. The most common types of personal line insurance are property and casualty insurance, which includes automobile, homeowner and renters insurance.
In the United States, some types of personal lines insurance are required while others are strongly recommended. For example, all citizens must have automobile insurance, which covers drivers when out on the road, this is a requirement. Homeowners insurance isn’t required, but is strongly recommended, because it protects against damage to your residence. It is sometimes difficult to determine which are required and which are recommended, since the obligation to carry insurance may come from an entity other than the government, a mortgage company, for example, can require you carry homeowners insurance as long as your home is financed.
The experts at PTH Financial & Insurance can help you determine the difference between the two and set limits which best represent your needs.