At its most basic level, insurance is something you can get to help cover you if you have some sort of loss. You can insure lots of different types of things, like your home or car, or even your life. If something happens, your insurance policy will pay out an amount based on what’s happened and what’s outlined in your insurance policy. It can help you replace your belongings if something happens to your home or pay for repairs if you get in a car accident. In some instances, you may even be required to have insurance. For example, if you have a mortgage, you are probably required to have home insurance.

The coverage will depend on the type of insurance you have. Even within one type of insurance, the coverage will be different, depending on who the insurer is and your specific situation. For example, an auto policy may help cover the cost of repairs or replacement if you are in an accident and could even have an option to provide you with a rental car if your car is damaged. Your policy will explain everything that’s covered and the amount the insurer will pay out to you.

Walnut can get multiple quotes for you on your home, auto or renters insurance so you can compare several options to your current insurance to see if there’s a better option for you. The best time to switch is when your policy is up for renewal so that you can avoid cancellation fees. You’ll need to let your current insurer know you are cancelling your policy and they may require that notice in writing so be sure to check with them on what you need to do.

If you already have term life insurance but could benefit from additional coverage, you can access up to $1 million in term life insurance through Walnut.

The process for filing a claim depends on the type of insurance you’ve purchased and who the insurance is with, but generally, you will file the claim directly with the insurer. Your policy documents will include information on how to file a claim but you can always reach out to Walnut to help get you started, as well.