Personal lines insurance is any type of insurance coverage purchased
by an individual to cover themselves and/or their families. These
policies protect against different kinds of personal risks that would
lead to potentially crushing financial losses caused by fire, theft,
natural disasters, death, accidents, lawsuits, and illness.
The amount of insurance coverage you can get generally depends on how
much you are willing to pay in premiums. The more you are willing to
pay, the more insurance you can obtain. Individuals can usually tailor
each policy’s coverage and deductibles to strike the right balance
between the amount of coverage and the cost of premiums. Premiums can
also vary according to where you live.
Personal lines insurance won’t cover every risk an individual might
face. However, it can dramatically reduce the policyholder's liability
for damages and the dollar amount they might have to pay out of pocket
to remedy an unfortunate situation.
