3 types of insurance everyone should have
There are a lot of different types of insurance, but it isn’t always clear why you need them. Insurance can feel like you are paying a lot of money each month or year for something that ‘might’ happen. You might feel like insurance isn’t worth getting, but you would be wrong. Here are three types of insurance that you simply need to have:
Car Insurance:
It is illegal to drive and operate a car without insurance. That is a simple truth. You need to get car insurance, but how much coverage you get is up to you. You might feel that you only need the minimum and that you will never get into a car accident. But what if you do? What if you are in an accident and then have to make a huge payout either to fix the car or to somebody else? What if your car breaks down by the side of the road and you have to pay extra or can’t get a road site pick up? What if you lose the only key to your car and can’t get into it?
There are so many things that can go wrong when driving and owning a car and the above are only a few possibilities. You want to ensure that you are covered for a myriad of problems. They might just be something that could potentially happen, but you will be kicking yourself in the behind if it does happen and you aren’t covered. Instead, you want to make sure that you have roadside assistance, key coverage, breakdown coverage, and decent all around insurance to make sure that you can drive safe in the knowledge that you are properly insured.
Medical Insurance:
Medical insurance is something that you might not need to use for years, but then you are suddenly ill, and it becomes the most important thing in the world. If you have a health & medical insurance plan, then you are ensuring that you will be taken care of should you become ill. This might be something as simple as needing to have your appendix removed or something as serious as having cancer. You need to make sure that you have decent medical insurance. It might be costly, but you need it. If you become ill and need to go to a hospital without medical insurance, then your standard of care will be far lower, and you might not be able to get treatment for certain things without paying incredible sums of money that you cannot afford. The amount that you get back if you need to claim your medical insurance dwarfs the amount that you would be paying each month or year.
Home & Contents Insurance:
Home and contents insurance cover your house in case you are burgled or if something else happens to your home such as a flood, burst pipe, or anything that will damage your property or your items within. If you own a lot of expensive goods such as electrical items, then you should get the insurance to cover them and make sure that if they get stolen or break, then you aren’t left having to pay out of pocket for new ones. Home and content insurance is just another cost of living that you need to factor in, because if you don’t have it and something happens, then you might be left with nothing.
Paying for insurance is an admitted hassle, but can you imagine the trouble you would be in if you went without it?