Insurance is Important – Learn About the Types


You are probably familiar with car and home insurance, as they are generally more expensive than those covering motor vehicles. However, many people will not consider home insurance unless their home is on the market or they are considering selling the home. Home insurance protects you against the loss of personal property and medical payments in the case of an injury or death from an event that occurs on the premises of your home, whether it be a fire a flood or lightning strike.


Most insurance policies also cover attached structures like a garage, tool shed or gazebo – usually for no more than ten percent of your total insurance coverage on the building of your home. Some insurance companies also insure buildings such as swimming pools, tennis courts, horse stables, barns, and horse barns. A common reason to purchase home insurance is to protect yourself and others from the loss of property. If you live alone or rent out the home, it can be particularly important to ensure that a portion of your insurance coverage covers the cost of replacing the property in the event of a loss. An example of this might be if you lost your house to foreclosure and were unable to sell it.

Car insurance policies are generally designed to protect against damage or loss to vehicles. A comprehensive policy covers the full cost of repairs and maintenance to a vehicle. There are typically two types of car policies: liability car insurance, which pays for damages to someone else’s car or property; and car collision insurance, which covers any damage to a person or vehicle caused by you, your car or another car on the road.

Health insurance is a popular option for people who want to protect themselves and others against costs associated with illness, accidents and diseases. In general, health insurance provides the maximum coverage for any medical expenses incurred while at home. A good health plan covers dental and hospital bills, prescription drugs and even some vision or hearing devices.

This type of coverage can help to minimize the financial impact on your finances, but it does not pay for major medical expenses that require immediate treatment. {if you become ill or injured. Most major medical coverage plans include a “guaranteed issue” provision that will pay you a certain percentage of your monthly or yearly medical costs if you become unable to work or are unable to receive necessary treatment because of an accident, illness or accident.

Another type of insurance is called bike insurance. Bicyclists are required by law to have liability insurance on their vehicles in order to legally operate them.

You can protect yourself by purchasing a bike insurance policy when you buy a new vehicle or add a bike on to an existing vehicle. Bike insurance will cover the cost of repairs or replacement costs for the car if it becomes damaged or stolen. It can also provide coverage for items that may need replacing after the vehicle has been totaled. For example, if your car breaks down in the middle of nowhere, you may not be able to get fuel for your bicycle or locate directions to a gas station or service center.

Bike insurance can also protect you from losing your bike if you lose it. Many companies offer free coverage to pay for replacement transportation should the car become totaled in an accident. If the vehicle becomes stolen, they may even pay to repair a stolen bike, as long as it has not been customized in any way to be a bike. When it comes to motorcycle insurance, you will usually pay more if you plan on riding the bike for longer periods of time than what the bike itself costs to own.