There are no two people who are exactly the same, which also means that there are no two people who have the exact same needs when it comes to insurance coverage. For instance, some individuals, such as investors and business owners, need additional protection through insurance policies.
However, there are a few different policies that the average person should think about purchasing to ensure their long-term safety and protection. These policies include Auto Insurance, Homeowner’s or Renter’s Insurance, and Life Insurance.
1. Auto Insurance
Auto Insurance is a necessity when purchasing and operating a vehicle. This is because Auto Insurance protects the driver against a financial loss in case of an accident. With the right policy, Auto Insurance can provide property, liability, and medical coverage. So, what exactly does Auto Insurance protect you from?
- Car Theft or Damage
- Legal Responsibility to Others for Bodily Injury or Property Damage
- Cost of Treating Injuries, Rehabilitations
- Lost Wages or Funeral Expenses
2. Homeowner’s Insurance or Renter’s Insurance
Whether you own a home or are renting out an apartment, Homeowner’s and Renter’s Insurance policies are a necessity. These policies are so important that many landlords and all mortgage companies require regular updated proof of insurance. These policies will protect your home and belongings against the following:
- Break-ins or Theft
- Damage due to fire or severe weather
- Legal protection against injury on property
3. Life Insurance
Life Insurance is a policy that will become more and more important as you age. The older you get, the more responsibility you take on such as car loans, mortgages, getting married, raising a family, or starting your own business. If something unexpected were to happen to you, those responsibilities don’t magically go away – they become the responsibility of your loved ones. Life Insurance is there to ensure that your family is taken care of financially if you were no longer able to due to a fatal accident Life Insurance will protect your family or business by:
- Pay for bills and living expenses
- Funeral costs
- Finance future needs
- Continue a family business
(For more detailed information about what Life Insurance is, how it works, and the different types, read our previous blog post.)
Now that you understand what insurance policies are the most important for the average person to have, the next step is to get insured! At Henry Insurance Service, we compare pricing and policies from over 1,000 different insurance companies to ensure that you get the best coverage within your budget. For more information on our services, or to get a free insurance quote, visit our website or speak with one of our experienced insurance agents today!