There are many different types of insurance available, some
you may find to be very important and necessary, while others you take out just
to be safe. Here we have a few of the most used insurances:
1. Health Insurance – this type if insurance pays
for your medical expenses and can be included to cover disability or long-term
nursing or custodial care needs.
2. Motor
Insurance – motor insurance is one of the most used types of personal
insurance. It is a requirement that you purchase some kind of insurance
coverage to drive legally in the country. Motor insurance can be divided into
two basic coverage areas: liability and property damage.
3. Life Insurance -
Life insurance is protection against financial loss resulting from death. Your
chosen insurance company will pay your beneficiary a specific amount of money
when you die in exchange for timely payment of premiums.
4. Travel
Insurance – many travel insurance plans include Travel Medical Insurance,
Medical Evacuation, Trip Cancellation/Interruption, Travel Delay, and Baggage
coverage.
5. Homeowners Insurance – there are different types
of insurance for different types of home owner. Whether you are renters, owners
of mobile homes, people seeking bare bones coverage or those living in homes
that are very old, it is important to insure the roof over your head.
6. Unemployment Insurance – Unemployment insurance
is a temporary source of income. He/she will receive a weekly/monthly payments
for a chosen period of time.
7. Business Insurance – this insurance is simply spreading
and managing the risk among many business owners. There are risks that, while
they may never occur, are so destructive that it makes sense to plan ahead and
manage the risk.
8. Dental Insurance - although it’s not an
insurance that everyone takes out, many those to have that as a backup. A few companies
offer a form of dental benefits for individuals with two types of plans,
referral plan and buyers' clubs. Individuals pays a monthly fee to a third
party in return for access to a list of dentists who have agreed to a reduced
fee schedule.
9. Pet Insurance – this insurance helps you pay
your veterinary bills for your pets. It covers accidents and illnesses, check-ups,
vaccinations, and dental cleanings.
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