The Florida Bar

Insurance Law

December 12, 2022

Insurance law relates to many kinds of insurance coverage. Below is a general list:

  • Auto Insurance is required by almost all states if one has a car. Auto insurance plans offer coverage for property damage and injuries to varying degrees.
  • Boat Insurance offers coverage for recreational boat accidents and liability, including personal injury and property damage claims. It can also cover losses in case of theft, vandalism, and accidents caused by uninsured boaters.
  • Business Insurance can help cover the costs of unfortunate events such as theft, premises liability claims, product defect claims, defamation lawsuits, worker’s compensation claims, and many other issues.
  • Credit Insurance is optional insurance one can take out to cover a loan or credit balance if one dies, becomes involuntarily unemployed, or goes on disability, subject to certain limits.
  • Crop Insurance protects farmers’ and ranchers’ businesses against loss of revenue due to declines in market prices, or the loss of crops due to natural disasters.
  • Dental Insurance provides coverage for dental care. Most dental plans will pay a percentage of the costs of dental services.
  • Earthquake Insurance may be added as an additional part of a homeowner’s or a renter’s insurance when their standard policies don’t cover earthquakes.
  • Fire Insurance may be added as an additional part of a homeowner’s insurance and it can add more coverage in case a fire damages their property, other buildings, and personal property. It will also usually cover damage caused by both smoke and water.
  • Flood Insurance may be added as an additional part of a homeowner’s or a renter’s insurance when their standard policies don’t cover earthquakes.
  • GAP Insurance is a type of auto insurance that covers the difference between what one owes on one’s car loan and the actual cash value of the car.
  • Health Insurance helps cover the cost of medical care, from routine check-ups and prescriptions to life-saving surgery. It’s currently mandatory for most people, and many obtain it through their employers, their state’s exchange program, Medicare or Medicaid.
  • Homeowners Insurance is required by many banks and lenders as a condition of one’s mortgage. Homeowners insurance helps cover the costs of unfortunate events, such as theft, vandalism, water damage from plumbing or heating issues, fires, hail, wind storms, and injuries sustained by someone while on the property.
  • Life Insurance has several different types, but the general idea is that one pays a regular premium to insure their life for a certain amount of money, and when one dies, the proceeds from the life insurance policy are paid out to surviving beneficiaries.
  • Pet Insurance can help one cover the costs of medical care for one’s pet.
  • Renters Insurance offers coverage for when someone is injured on the property, when personal belongings are stolen or damaged, or if one has to live somewhere else temporarily because the home is uninhabitable.
  • Title Insurance is required by many lenders when purchasing a home, and covers the costs of dealing with a claim against one’s use or ownership of the property or claim of ownership that originated before one’s own title insurance went into effect. It can also recoup some losses if the claim against one’s use or ownership is successful.
  • Umbrella Insurance extends the coverage of an underlying insurance policy, like \home, car, or boat insurance. It adds additional coverage in case one is sued for someone else’s injuries or property damage. This can help cover the costs of legal defense and pay for the other party’s damages, such as medical bills, lost wages, and property damage. It can also help with legal fees if one is sued for libel, slander, or false imprisonment.

Changes may occur in this area of law. The information provided is brought to you as a public service, and is intended to help you better understand the law in general. It is not intended to be legal advice regarding your particular problem or substitute for the advice of a lawyer.