We all would like to hope that we and the ones we support will never get harmed, become sick or die, but this is not the case. Accidents, illnesses and death are a part of life and will be forever as far as we are aware today. Because of this reality, we need to plan for bad things happening and be prepared when they do. This means that we need to buy insurance and place it on the things we value and that will cause hardship if they are no longer functioning in the way we need.
Everyone needs insurance and those without it will usually find that it is better to pay the premiums and not need it than to take the risk and not having it and then be faced with a catastrophe. So those who provide insurance policies like Michael Briese are valuable. With this said you need to be selective about what you buy and you need to shop around for the specific policy you choose:
The most important types of insurance
There are many types of insurance and you can get just about anything covered. People have been known to cover their jewelry and even their pets. While celebrities and sports stars pay to cover their valuable assets like a pitching arm or a set of attractive legs. These policies are usually created by specialty insurance companies and get drawn up infrequently but can sometimes cost tens of thousands of dollars a year in premiums. The most popular forms os insurance though is purchased by millions of people. In some cases it is mandated and in others people buy because they want to be covered in an emergency. Here is a look at some of the most popular forms of insurance. So that you are able to be as sure as you can that you are properly covered in the New Year and beyond, remember the following tips:
- Vehicle insurance is required to operate a vehicle in every state in the US. This insurance covers, cars motorcycles, trucks, boats, private airplanes, and even recreational vehicles. A driver must have liability insurance which covers the cost of repairing any property damaged by an accident as well as the medical bills from resulting injuries in an accident you cause. Most drivers also have collision insurance will pay for the repairs to their car. If the car is totaled (where the cost to repair it exceeds the value of the vehicle), collision coverage will pay the value of your car. If a car is purchased and someone is paying off a car loan, the lender will always demand the driver has collision insurance. Comprehensive insurance will cover things that are unrelated to a vehicle accident. These include: weather damage, you hit an animal and your car is damaged, or your car is stolen. If you let your insurance slip you can be fined or even put in jail whether you have an accident or not.
- Life insurance is a type of insurance that pays a sum of money to your loved ones in the event of your death. These policies come in a variety of types that include term, which you pay for and are covered for a specific amount of time to others like whole life that you pay into and will cover you forever. There are dozens of variations on these two types of policies and people can choose one that fits their specific needs. You can generally get life insurance at any time but the older you get or if you have a serious health condition, the premiums will increase significantly.
- Health insurance is currently mandatory in the US. Each citizen must be covered to pay for some amount of their medical bills in the event you are injured or sick and need to see a doctor. The basic plans cover emergency room visits and doctor check- ups as well as major injuries. Other plans cover everything including any prescription drugs you may need. All plans have some form of deductible that either the policy holder or the government will pay depending on your personal or family income level. Although the topic of health insurance is being hotly debated in the US right now, what is clear is that everyone needs to be covered to protect their personal health.
Right behind these big three is homeowner’s and renter’s insurance which protects the valuables in the place you live. Most homeowners and a large percentage of renters buy this valuable type of insurance.