Enough Coverage: Choosing the Right Individual Health Insurance

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5 Types Of Insurance You Need To Have

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Insurance protects you from the unexpected disasters that can come with life. It's a financial protection and it can help you rebuild after a disaster. Working with an independent insurance agent can help you save on all of these types of insurance, since the agent will shop several different companies to find the best deal for you.

Car Insurance

If you own a car, it is the law to carry a minimum amount of insurance to cover any accidents that you may have. If you do not have money available to replace your car, you may want to consider getting coverage for care replacement as well. You can often save money by purchasing your home and car insurance policy together.

Home Insurance

Home insurance will protect your biggest asset from fire or other damage, as well as from theft. When you sign up for this, you can choose how much you will receive to cover items that are stolen or coverage for the accidents that occur on your property. If you are currently renting, you should get renter's insurance that will cover the cost of replacing your valuables if they are stolen or damaged in a fire. If you live in a flood prone area, you may want to get flood insurance, as well.

Health Insurance

Under the Affordable Care Act, you must have health insurance or pay a fine. Health insurance can protect you from catastrophic medical bills as a result of serious illness or accident. If are having a hard time paying for health insurance, consider a high deductible policy, which offers lower premiums each month.

Disability Insurance

There are two types of disability insurance. Short-term disability will usually cover between three to six months of pay when you are first hurt. Long-term disability insurance can cover your income for the rest of your life or until you are able to find a new job. This insurance works if you are unable to work due to an illness or injury. It can help to know that you can continue to pay your bills while you recover from your accident. Most people will buy both short and long term disability insurance.

Life Insurance

Life insurance will provide your dependents with a steady source of income. CNN recommends purchasing enough to replace your salary for five to seven years. You may want to consider ten years if you have very young children. This will allow your family to take care of their needs after you are gone. To learn more, speak with a business like Barrett Harding Insurance.