Everyone needs some kind of insurance so the question is - what type of insurance do you need? We detail the different types of insurances you may need below.
What Type of Insurance Do You Need: Life Insurance
If you're wondering what type of insurance do you need the first stop you should make in your mind is life insurance. This is our first category because everyone should have some kind of life insurance. Even if you are not married and/or have no dependents, if you were to die, at the very least you would need enough life insurance to cover final expenses. (Such as funeral and other final expenses.)
The amount of life insurance you need should be based on your current income, amount of dependents and the ability of your dependents to earn an income without you. Many make the mistake of being uninsured by not getting a healthy enough life insurance policy.
Carefully weigh what your family's needs would be should you pass away and your income
What Type of Insurance Do You Need: Health Insurance
Health insurance is a basic insurance everyone should have in the case of accident or illness that will inevitably come. It's also important to have health insurance for preventative and wellness purposes.
"Working for an insurance firm helped me see the importance of insurance. Not only did I elect rich benefits with low deductible rates, but also elected extra insurance such as disability.
- Health Insurance:Throughout my ordeal, I racked up over a million dollar claim, had I not had health insurance my family would have had to burden this enormous cost.
- Disability Insurance:This insurance is also important to have. It seems like a frivolous expense when you initially buy the product. But having peace of mind that if you were in the hospital or became disabled in any way you could still 50-100% of your income. I say 50-100% because of Short-Term Disability and Long-Term Disability dispenses different amounts based on how long you will be or are disabled."
What Type of Insurance Do You Need: Homeowners/Renters
Homeowners and Renters insurance are important for anyone who is the primary owner or renter of a domestic space. This covers loss of home, items in a home and more. Homeowners/renters policy usually have the option to schedule high-value items as well with little to no deductible down for replacement.
What Type of Insurance Do You Need: Auto
Most everyone is familiar with auto insurance - after all, it's illegal to operate a car and not have it. If you're a motorist, consider your auto insurance and how much coverage you have. Carefully weigh your deductibles and out of pocket costs and consider what coverage you will need should you be involved in an accident. Many auto insurance carriers offer included roadside assistance and other benefits.
What Type of Insurance Do You Need: Umbrella
Umbrella Insurance is an overall coverage policy that protects an individual or family in a variety of situations. Umbrella Insurance policies are usually benefits of larger amounts, sometimes even into the millions of dollars. This type of coverage can protect in the case of an escalated accident, lawsuit or another type of situation.
We hope this overview was helpful when determining what type of insurance do you need.
In addition, you can visit Keylock Storage Blog for more interesting articles about organization and lifestyle: keylockstorage.com/blogs