If you own property that you would like to insure, your best bet is generally to purchase a package insurance policy that can address all the risks you need to be covered. Package policies are generally more simple and affordable than purchasing many individual policies for each insurance need. However, sometimes package policies have gaps in their coverage and leave out things that you need to be insured. If you run into this issue, monoline insurance can help.
What Is Monoline Insurance?
Monoline, or single line insurance is a type of insurance coverage that covers you from one specific risk. Using monoline insurance in addition to your package policy can help fill any insurance gaps.
What Are The Benefits Of Monoline Insurance?
While monoline insurance does not offer the benefits of a package policy, it definitely comes with some upsides. For example, if you have minimal insurance needs or already have a package policy, monoline insurance can offer you exactly what you need. Additionally, most monoline insurance providers are well versed in the specific type of insurance they offer since they can focus on just that one area.
What Can Be Covered By Monoline Insurance?
Monoline insurance can be purchased for many risks and can essentially fill any gaps in your existing coverage. In terms of monoline property insurance coverage, some of the things that can be covered are:
- Insect damage
Making sure you have comprehensive coverage can be tricky. Monoline insurance can help!