Market vs. replacement cost. Not all policies are created equal. Since items generally decline in value as soon as they are used, a market value policy may not pay you enough to replace your damaged, destroyed, or stolen property. One of the risks facing automobile drivers is the possibility of causing an accident and being sued for damages. While most automobile policies provide liability coverage, they typically set a maximum dollar limit per accident.
Accidents can happen to anyone.
Disability income insurance can protect you and your family from financial hardship, providing a steady monthly income in the event of disability or long-term illness. It's impossible to insure against every contingency. However, you should evaluate your situation and ensure that your critical insurance needs are covered. You should also review your insurance policies carefully to understand their coverages and limitations. With the slowing economy, many companies are scrambling to cut costs.