There are numerous types of insurances available, there are some you need, and some you don’t. It’s important to make sure you have the insurances you do need. While some of the types of insurance listed below may not apply to you, there are a few that apply to everyone and we will start with them.
Aside from the fact, under ObamaCare it is basically illegal not to have health insurance, well maybe illegal is too strong of a term. The fact remains that once tax time comes if you do not have insurance you will be penalized and in some cases, have to pay a hefty sum of money.
It is important that everyone has health insurance, doctors and hospital bills are expensive. If you were to get sick or injured and you have no insurance, you could end up in debt for the rest of your life from all the medical bills. It’s common sense to protect yourself and your family by having some type of health insurance to help with medical bills.
Life insurance, the two words most people dread hearing. Unfortunately, once you leave this earth someone has to pay all your accumulated unpaid debts. As well as, pay for your funeral arrangements and burial. Most importantly you spouse and under age children need to be cared for financially. Way to often you turn on the TV or open the newspaper and see that a young father or mother has passed away and they are collecting donations because there was no life insurance. You want what is best for you family, so be sure to have a life insurance policy, so your family is not financial hardship as well as grief.
Home Insurance and Renters Insurance
If your home is not paid for financial institution will not even loan you the money for your house without home insurance. If your home is paid for it would be a shame to lose everything and not have the insurance to replace it.
In addition, if someone were to come to visit you or even if a stranger cut across your property and got injured, there is an excellent chance they would sue you. That goes for your family members too, your family and friends may love you, but if they get hurt, chances are they are going to sue you. As sad as it is, that is simply the way it is – as they see it, they are not taking money out of your bank account they are taking it from your insurance company, assuming you have the insurance.
Renter’s insurance is not mandatory to rent a house or apartment. However, if a disaster was to strike and you lost all your belongings, you would need to replace them and renter’s insurance is the smartest solution.
Vehicle Insurance/Motorcycle Insurance/Boat Insurance
If you have a vehicle, motorcycle, or boat that has a motor that you drive or ride in or on, you must have insurance. In the case of motorized vehicles and boats it is illegal to drive without insurance whether you are on land or water. Thousands of vehicle, motorcycle happens every single day. Boat accidents are less frequent, but there are still thousands of boat accidents every year. Auto, and motorcycle accidents are the leading cause of injury and death according to the Centers for Disease Control and Prevention (CDC) and the National Highway Traffic Administration. If you, a passenger or someone in another vehicle or boat are injured in an accident someone has to pay for the medical bills, property damage and in the event of a lawsuit, the monetary settlement.
If you own a commercial business it must be insured. There are at least a half of a dozen types of commercial insurance. However, the most important type of insurance a business needs are General Liability Insurance, this covers you, your employees, and business from bodily injury and property damage. You will also want insurance to protect your building and products and should consider over-head insurance, and personal disability as the business owner.
SR-22 & DUI Insurance
Not all drivers require a SR-22, or DUI insurance this is vehicle liability insurance for high risk drivers that the DMV requires after someone received a DUI. The premium can be as high as 400% more than your car insurance was before the DUI. However, if the person wants their driving privileges back they have no choice but to get the SR-22.
For more information and quotes contact Value Plus Insurance.