Insurance and Finance

Insurance Facts for Your Next Trivia Night

By Staci Parks 2.7.22

Insurance may not be a common category for your average trivia night, but brushing up on this topic could be beneficial in the long run.

Mitch Widler, a Texas Farm Bureau Insurance Agent in Weatherford, shares five little-known insurance facts you can take to your next trivia night — or into your next policy review.

1. There is coverage for when your livestock is on the loose.

If a cow of yours gets loose and causes a wreck or damages a neighboring property, an animal collision policy could help cover liability. These policies are optional add-ons to a comprehensive farm and ranch policy.

2. A child term rider can convert to a permanent life insurance policy.

Adding a child rider to your term life insurance policy is an easy, affordable way to insure your children until they reach a certain age. It can also be an investment in their future. A child term rider can be converted to a permanent life insurance policy for lifelong coverage. This could be helpful if your child develops a medical condition down the line that would make it difficult for them to get life insurance on their own.

3. Property insurance has you covered outside of your home, too.

You’ll find personal liability coverage, which provides personal injury and property damage coverage, in most property insurance policies. “That liability coverage on a property insurance policy follows you around,” Widler says. “Most people don’t know that.” You could be financially protected if you’re found legally liable for hurting someone or damaging their property. For example, Widler says, if you drop a jar of pickles in the grocery store, causing someone to slip, fall, and hurt themselves, personal liability could help protect your finances if they decide to sue.

4. You can protect your grandmother’s vintage fur.

The coat itself might be sentimentally irreplaceable, but you can get financial coverage for it with an inland marine policy, which can be layered on top of existing coverage. Also known as a personal articles policy, this coverage helps protect valuable personal items that could be subject to coverage limits under property insurance.

5. You can access your policy details anytime, anywhere.

The Texas Farm Bureau Insurance app is like having an Agent in your pocket. You can find contacts, file claims, record damage, and access proof of insurance wherever you are. Best of all, it’s free to download.

Now that you know these insurance facts, quiz your Agent during your next policy review. But, beforehand, brush up on more insurance knowledge with these questions Agents wish you’d ask.

Coverage and discounts are subject to qualifications and policy terms and may vary by situation. © 2022 Texas Farm Bureau Insurance