4 Must-Have Insurance Types
Millions of people have availed themselves of life insurance services because of the uncertainty of life nowadays. But, is this the only insurance one can go for? What if we tell you that there are other types of it that can save you from losses worth millions of dollars?
We have compiled a list of 5 important insurance types you can get without any second thoughts. Most people who have availed of such services. Following are some must-haves when it comes to insurance:
Insurance of Home
House is one of the biggest investments for most people. Going for home insurance relieves you from the stress when your biggest life investment meets an accident. For instance, if your house catches a fire, you will face a loss of millions of dollars and might not be able to recover from it. This can further lead you to debts and a never-ending chain of loans.
This insurance will save you money in the long run without putting any kind of financial burden on you. After registering for this policy, if your house gets damaged due to any natural disaster or accident, you will get paid a decent amount to cover your losses.
Insurance of Car
Cars also fall in the category of big investments because nowadays they cost around 37,000$ according to a study. This means it is an investment worth insuring. There are many companies that offer various packages for car insurance depending on the model and type of your car.
Moreover, cars are extremely prone to road accidents, rendering them badly damaged. Such policies help you claim the full amount of your car (as decided in your policy) after the accident. The same policies can also be availed for other types of transport vehicles, including trucks, buses, bicycles, and more.
Health Insurance
Many people mistake life insurance for health insurance. The latter is the one in which various health expenses of a person are covered. These include the expenses of regular hospital check-ups, minor and major surgery and child delivery, and postpartum health services.
They come in full coverage and partial coverage plans with a partial-coverage policy meeting a predetermined percentage of the hospital expenses. Normal vaginal delivery costs you around 3000$ in California, whereby an insured delivery will cost no more than 500$. You can pay your insurance dues monthly, quarterly, or yearly, depending on your service provider.
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Phone Insurance
The trend of buying a luxury smartphone is getting more popular day by day. With increased prices of luxury phones, the financial risk also increases. The luxury phones cost upto 5000$ and are a valuable investment for many people. They can also be insured via phone companies or life insurance agents that deal with all kinds of insurance.
If your phone gets lost or stolen, the insurance provider will make up for the price of the phone as per the policies. Moreover, if your phone gets broken due to falls or any mishap, you can reimburse the cost if it is insured. You will not be able to claim any money if the damage is intentional.
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