Insurance can feel like a paradox: it’s something you should definitely have but also hope you don’t have to use. The question is, what types of insurance should you actually have?
It can vary from person to person, but there are insurance policies almost everyone should have. In fact, some policies are legally required.
Insurance You Need to Have
If you have a car and you don’t live in New Hampshire and Virginia, you are legally required to have car insurance. Attempting to drive without it can get you into a lot of trouble and cost you a lot of money.
Most people are also required to get health insurance. There are exceptions to this depending on your work situation and how much income you have. Technically, you can choose to forego health insurance, but you’ll be hit with a penalty fee.
For those who are financing a home through a mortgage, your lender will likely require you to get home insurance as well. The exact policy and amount of coverage should be discussed with them before talking to an insurance agent.
Insurance You Should Have
If you’re not required to have insurance on your home, you should still have it regardless. Homes are very expensive, and one accident such as a fire could take everything you own. Home insurance will protect you from this.
The same goes for renter’s insurance. Whether it’s a natural disaster, theft, or something else, renter’s insurance should be a no-brainer for any renters.
Unlike cars and motorcycles, boats and watercrafts don’t typically require insurance. That said, we’d strongly encourage you to ensure them anyway. Not only can watercraft be lost at sea, but someone could become injured as a result of one.
Life insurance is also something almost everyone should have. While many don’t want to think about it till their later years, accidents and illnesses can happen at any age. With life insurance, your family and loved ones are protected from your loans, debts, funeral expenses, and much more.
What Coverage Do I Need?
The amount of coverage you need depends on your situation. The best way to learn more about insurance policies and options is to talk to a professional insurance agent. At Link-Hellmuth we work with the best insurance companies across the board to ensure our customers get great coverage at an affordable price.
While we don’t handle health insurance, we can help with just about everything else, from business insurance to cheap car insurance in Springfield, Ohio. Contact us today!