Everyone will purchase insurance at some point in their life, but the kind of insurance people think is important varies widely. Many individuals avoid purchasing insurance because they think it’s too expensive, but the lack of insurance can be even more costly.
An auto insurance policy is mandatory in most states, but consumers have some latitude in regard to the amount of coverage they buy. Liability coverage covers the cost of injuries or property damage in an accident. Collision coverage is for repairing vehicle damage, while comprehensive coverage pays for damage and loss outside of an accident, including fire, flood, hail, tornadoes, vandalism and theft.
The need for long-term disability insurance is obvious to protect individuals if an injury or illness occurs. People are living longer and the insurance provides protection in the event of long-term disability.
A single medical emergency can place people into bankruptcy without health insurance. Depending upon the policy, it will help pay for surgeries, hospital stays, doctor visits, medications and tests, along with pregnancy, childbirth and mental health services.
Homeowners and Renters Insurance
Insurance on a home will pay for damages to the home and possessions due to fire and weather or if someone is injured on the property. It can also cover outbuildings, along with damage from floods and earthquakes in some locales. Renter’s insurance typically reimburses a tenant for lost, stolen, or damaged belongings and covers the cost should someone be injured in the apartment.
Long-Term Disability Insurance
This is especially important for individuals in their prime wage-earning years. It protects people from wage loss if they’re unable to work for an extended period of time.
Long-Term Care Insurance
Few people consider what their circumstances will be in the future. The need for in-home care or a nursing home will quickly eat up any savings an individual may have. People should consider their health risks and family history when purchasing long-term care insurance.
Term Life Insurance
A term life insurance policy will pay for a variety of final expenses, depending on the amount of coverage the individual purchases. It can help pay for an individual’s final expenses ranging from funeral and cremation services to outstanding bills.
Identity Theft Insurance
There are 16.7 million victims of identity thefts each year that didn’t believe it could happen to them. No matter how careful consumers are, criminals continue to unleash new ways to obtain personal information.
Protection for any Contingency
Many people choose not to invest in insurance because they think “it won’t happen to me.” Accidents, damaging storms and identity theft are facts of life and there are ways for everyone to protect themselves. All they need to do is speak with an insurance agent that can help them decide the right coverage for their needs.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
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