As an adult, there are plenty of new things that you need to worry about. From rent to homeownership, your career to when you’ll have kids, the number of things to consider may feel overwhelming. One thing is certain, though. Going through life without the proper insurance policies can make things much more difficult should the unexpected happen. Make life a little bit easier by ensuring you have these four types of policies.
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1. Auto Insurance
One of the most important types of insurance that you should have is auto insurance. Most agencies provide it. For example, you can search “what type of insurance does Progressive offer?” and get plenty of responses about their auto policies. Almost every state requires you to have at least a minimum amount of liability insurance, but those amounts typically don’t cover much more than fender benders. If you want to be fully protected, you’ll want a full coverage policy that provides compensation for the damaged property as well as for the medical bills of any drivers and passengers. Keep in mind, too, that you’ll likely need an additional policy to cover things such as burglary or certain natural disasters.
2. Homeowner’s or Renter’s Insurance
If you are a homeowner, you’ll need to call your insurance provider after a home invasion. If you don’t have homeowner’s insurance, you’ll be on the hook for anything that a burglar would take from your home. Homeowner’s insurance doesn’t just cover theft, either. It’s also important for situations such as house fires, tornadoes, or other acts of God. If you don’t own your home, be sure to purchase renter’s insurance. Your landlord’s policy will not cover your belongings if there is a natural disaster or robbery. Keep in mind that regardless of your renting or ownership status, you’ll probably need a separate flood policy.
3. Health Insurance
Medical care is extremely expensive if you don’t have health insurance. In fact, you may even face fines for not carrying a health policy in the United States. At a minimum, you should have a small policy that helps you to cover emergencies such as broken bones. The more comprehensive your policy is, though, the better covered you’ll be if you end up having surgeries or other large and expensive procedures. The best policy is one that provides traditional medical coverage as well as coverage for dental health and eye health. If you do not have insurance through your employer, you can shop through the government’s healthcare website to find a good match for your needs.
4. Life Insurance
If you have a spouse or children, it is important to have a life insurance policy. Hopefully, nothing will happen to you for many decades to come. However, should the unthinkable happen, a life insurance policy will provide your family with financial peace of mind while they navigate their new realities. Life insurance helps to cover funerals and burial services. Depending on the size of the policy, it often helps to pay medical bills and other day-to-day expenses for the surviving members of the family.
Regardless of which type of insurance you’re purchasing, always work with a reputable agent. Look for one that is licensed, has excellent reviews, and is experienced in providing the type of policy that you’re hoping to purchase. After all, your policies are meant to bring you peace of mind.
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