Insurance is often considered unnecessary - an expense that fills the coffers of big companies but is of little benefit to the insurance policy holder who pays a premium every month and seldom claims the benefits. But when the day comes insurance will be needed, then you will be grateful that you are covered.
There are many types of insurance, covering everything from your car, your home, your luggage when you travel, to your life itself.
Required by law in many countries including the United States is vehicle insurance. The exact requirements may vary in different states but even so, the least you will need is basic vehicle insurance that will cover you against damage to your vehicle and the passengers of the car. Covering theft as well as personal injury is a motor insurance plan and this will include insurance for any other vehicle that may be involved in an accident that you cause. You will be relieved that all the costs involved are covered by your insurance the day that you are involved in an accident or have your car stolen.
An absolute necessity in countries like the US that do not have government-funded health care is health insurance. Visits to the doctor, medicines, as well as hospital care and dental treatment may be covered in health insurance. Different plans cover different areas of health care, so be sure to check your policy carefully before signing on the dotted line.
In case of your death, life insurance pays out a lump sum to your beneficiaries. It helps them to cope financially when you are no longer able to and it will also ensure that your family is not left with debts that they cannot pay. Often part of a life plan is disability insurance and this will provide an income for you and for your family in case you will be disabled in an accident due to ill health.
Property insurance insures your home against damage caused by acts of God such as hurricanes, earthquakes and flooding, as well as against vandalism and other events. It may cover only the actual structure, but can include loss or damage to the contents as well.
Loss of luggage, theft while you are traveling, and medical bills should you need health care while away from home is covered by travel insurance. Travel days will be covered by some travel insurance such as the cost of accommodation should your flight be delayed.
If you look at the costs of replacing a car, repairing a flooded home, buying new clothes when on holiday not to mention the cost of medical care should you be injured or fall seriously ill, insurance makes sense. In your monthly budget, you need to be sure to include insurance and make sure that you are well covered.
There are many types of insurance, covering everything from your car, your home, your luggage when you travel, to your life itself.
Required by law in many countries including the United States is vehicle insurance. The exact requirements may vary in different states but even so, the least you will need is basic vehicle insurance that will cover you against damage to your vehicle and the passengers of the car. Covering theft as well as personal injury is a motor insurance plan and this will include insurance for any other vehicle that may be involved in an accident that you cause. You will be relieved that all the costs involved are covered by your insurance the day that you are involved in an accident or have your car stolen.
An absolute necessity in countries like the US that do not have government-funded health care is health insurance. Visits to the doctor, medicines, as well as hospital care and dental treatment may be covered in health insurance. Different plans cover different areas of health care, so be sure to check your policy carefully before signing on the dotted line.
In case of your death, life insurance pays out a lump sum to your beneficiaries. It helps them to cope financially when you are no longer able to and it will also ensure that your family is not left with debts that they cannot pay. Often part of a life plan is disability insurance and this will provide an income for you and for your family in case you will be disabled in an accident due to ill health.
Property insurance insures your home against damage caused by acts of God such as hurricanes, earthquakes and flooding, as well as against vandalism and other events. It may cover only the actual structure, but can include loss or damage to the contents as well.
Loss of luggage, theft while you are traveling, and medical bills should you need health care while away from home is covered by travel insurance. Travel days will be covered by some travel insurance such as the cost of accommodation should your flight be delayed.
If you look at the costs of replacing a car, repairing a flooded home, buying new clothes when on holiday not to mention the cost of medical care should you be injured or fall seriously ill, insurance makes sense. In your monthly budget, you need to be sure to include insurance and make sure that you are well covered.
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