With more activity and travel comes an increased risk of accidents and injuries. If you don't have the right insurance, you could end up paying a lot of money.
If you want to make the most of the sunny months, you need to make sure you are properly covered.
Piling into the car with friends can save you money. It is a good idea to check your auto insurance before driving.
The likelihood of an accident goes up when you're not familiar with the area.
If you cause an accident on your trip, your state's minimum auto insurance may not suffice. Medical expenses and repairs will be the responsibility of you.
The minimum amount of liability car insurance should be more than recommended by the author. He says that extra coverage can help protect you from personal injury lawsuits.
Karen Collins is an assistant vice president at the American Property Casualty Insurance Association. If your car is damaged, you might have to pay out of pocket to fix it. Damage you cause to other people and their property is covered by liability insurance.
America's national average gas price just hit $5 per gallon for the first time in history. GasBuddy says to prepare for higher prices.
It's not uncommon for your auto insurance to extend to a rental car. If you wreck a rental car that doesn't have collision coverage, you could be on the hook for the repairs.
If you don't want to add collision and comprehensive to your policy, you can purchase a loss-damage Waiver at the CarRentals facility. If your car is stolen or wrecked, you don't have to pay for it.
It is possible to buy a stand-alone rental car policy with your credit card.
Check your auto insurance and credit card benefits before renting a car. If your auto policy has low limits or is liability only, consider buying supplemental coverage.
Young children can be at risk of swimming in pools. If someone drowns or is injured on your property, you could be personally liable if you don't have enough liability insurance.
Mark Sherman, a Country Financial insurance agent in Missouri, says pool owners may want more than $500,000 in homeowners liability insurance.
At least $1 million in liability insurance is usually suggested by Sherman. It doesn't add much to the cost, he says, and in the event of an injury lawsuit, "that extra few dollars a month could be the difference between taking care of a terrible situation or losing everything that you've worked for your entire life."
I pay all the bills and gave the down payment for our home, and all he does is buy stuff and contribute to his 401(k).
If you own an ATV, dirt bike or other small motorized vehicle, you may not be covered by your insurance. Your property line will likely be the end of any coverage that extends to these vehicles.
There are a lot of inexpensive toys that people don't want to pay for insurance on. The risk point is a huge one. There are a lot of accidents on ATVs.
He recommends buying a separate policy for your small motorized vehicles.
Small boats, like kayaks and canoes, may not be covered by homeowners insurance.
If you own a boat, you should buy a separate policy for it. Even if it isn't required by law, make sure it's covered. It's similar to car insurance. In the summer, some people will add collision and comprehensive coverage to their boat insurance.
Man, you only live once. Americans are getting ready for a summer of red-hot inflation.
Standard insurance policies typically don't have more than $500,000 in liability coverage. A lot of people need more than that.
If you need more liability coverage, both Collins and Olsen recommend umbrella insurance, which will kick in if you're sued for more than your standard insurance policy covers. It can be a smart move to buy an umbrella policy for $1 million.
Collins says that an umbrella policy is usually going to provide a lot of benefit.
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Ciarra Jones is a writer. ciarrajones@nerdwallet.com is the email address.
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