Let’s face it; things happen, and it’s essential to be prepared for the unexpected. Today, having insurance coverage is a fact of modern life— offering individuals, families, and businesses a measure of protection from financial losses due to unforeseen circumstances. There are several types of insurance available, including auto insurance, home insurance, and personal insurance. This article offers an overview of each type of insurance and why it's needed.
If you own a car, you will need auto insurance. Why? Auto insurance, or as it is more commonly known, car insurance, provides financial protection for drivers in case of accidents, theft, or other types of damage to their vehicle. It’s a legal requirement in most states across the country, with drivers required to have a minimum amount of coverage to operate a car on the road.
Auto insurance policies can include different types of coverage, such as liability, collision, and comprehensive coverage.
Home insurance, also known as your homeowner’s policy, is a type of insurance that provides financial protection for homeowners in case of damage or loss to their property or personal belongings. Home insurance is typically required by mortgage lenders and covers a range of risks, including theft, fire, natural disasters, and liability claims.
Within home insurance policies one may have different types of coverage, such as dwelling coverage, personal property coverage, and liability coverage.
Personal insurance, also known as personal lines insurance, provides financial protection for individuals and families in case of unexpected events or emergencies. Personal insurance policies can include a range of coverage options, such as life insurance, disability insurance, and long-term care insurance.
Having read through all of the above, it’s clear that auto insurance, home insurance, and personal insurance offer you the essential protection and peace of mind required to safeguard your financial well-being. Just keep in mind whether you're a driver, a homeowner, or looking for personal insurance, you need to make a well-informed decision and choose the right policies to suit your needs.
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FEW-0617AO (8/2018) | FINRA Broker Check