5 Major Insurance Covers You Must Have To Be Secured

There is something with insurance – you take it up because you understand the coverage and the benefits, or you don’t because you don’t give a hoot about yourself and your family.

If you have ever been involved in some accident and your insurance company promptly comes to your aid and provides you with compensations to cover your time and loss, then you would appreciate the value and importance of insurance especially if you couldn’t have achieved this without your insurer.

There are several categories and sub-categories of insurance policies covering almost all aspects of human experiences, but out of them all, you must have the following 5 insurance covers to really be secured.

1. Health insurance

Your health is everything, and you need to secure it with insurance plans if you have to get anything done in life. Most insurance companies offer health insurance packages for individuals and families, and most employers have group health insurance plans for their employees and staff.

Health insurance is very crucial for your wellbeing and those set objectives you have, and you could use any of those Health Maintenance Organizations (HMO) if you can’t take out a direct health policy.

Health insurance plans give you cover from any sudden health failure or crises, and it takes care of your hospital bills and expenses. Although you might have to pay deductibles sometimes when it involves medical procedures like surgeries, you are still better off with health insurance than with nothing.

2.  Life insurance

Life insurance is a necessity, most especially if you care so much about your family and dependants and wish them the best after your death.

No one wants his family to suffer after his death, and this is largely very possible when you have a life insurance policy in place. It gives your family and dependants the kinds of lifestyle and quality education that you desire for them should you suddenly pass on.

Also, with a whole term life insurance plan, you can use the accumulated funds as a retirement scheme or even go into an investment with it, while you can also recycle the whole funds again; but with term life insurance you are only qualified for coverage after your death.

3. Property insurance

Have you ever thought about burglary and fire disasters? Have you also thought of natural disasters like floods and storms damaging your house? Do you want yourself and your family to be turned out into the open streets with every valuable property lost when any of these incidents occur?

That is why you must insure your home against fire disasters, flooding and storms, burglary and theft, and other similar incidents.

4. Auto car insurance

If you own and drive a car, then you must have known that auto car insurance is pretty mandatory and a requirement of state laws.

You must have at least third-party insurance in place if you drive vehicles on the roads, even though comprehensive policy cover is much better.

Auto insurance protects you and provides your car passengers and other road users with some cover when road car accidents happen – and this could often be fatal.

5. Disability insurance

Disability insurance is also very important if you are the breadwinner of your family.

With a disability insurance plan, you are covered in the case of factory accidents and other workplace injuries that might lead to a loss of your limbs, eyes or even render you invalid or committed to a wheelchair.

When you are disabled and can’t work or fend for your family again, a disability insurance plan provides you with some form of compensation and financial supports to get by.