No matter what you do for work, what type of person you are, how old you are, or what type of life you lead, insurance is very important to have. In fact, you should have multiple different types in order for you to be fully protected. If you are feeling underinsured or are new to the world of insurance, here are 4 common types of insurance you should definitely have by now.
Disability Insurance
Disability insurance is something that is usually offered by your employer. You should absolutely consider getting it though, even if you work at a job where injury is rare. Good disability insurance covers a portion of your wages for time you have to take off due to any illness or injury, not just those that occurred at work. Make sure that you are always covered by this type of insurance in order to protect yourself from lost wages due to an unexpected illness or. injury. This will alleviate so much stress in your life. Selectability NDIS Cairns explains that in Australia, there is a nationwide government initiative called the National Disability Insurance Scheme or NDIS that has over 400,000 participants living with disability in Australia and helps these participants with costs associated with their disability. Often this means care and treatment but can extend to other costs depending on the disability, helping those without private insurance.
Car Insurance
Perhaps one of the most common and arguably most important types, car insurance is a must for anyone who owns, rents, leases, or regularly drives a car! There are many different types and price points, but you should never be driving any type of vehicle without being properly insured. Car accidents happen all the time, and if one is ever your fault, it’s crucial that you are covered by insurance so that you don’t have to pay what could potentially be a very large sum of money to cover someone else’s damages or injuries.
Other types of car insurance cover your own car and injuries, for cases when the accident is your fault or the person who was at fault is uninsured. But remember that even if you think you’ll never get into an accident, it is also illegal in most places to be driving without insurance. Unless you want to get a hefty fine, sign up for car insurance today.
Life Insurance
Unlike the others on this list, life insurance actually benefits your loved ones more than it benefits you. For a pretty low monthly rate that you pay for the entirety of your life, life insurance pays out the person (or people) you choose as your beneficiary when you die. This person may be your children, spouse, or even parents. It can be very helpful for covering funeral costs and other big expenses that can cause extra difficulty to those already grieving.
Homeowners Or Renters Insurance
Homeowners insurance is typically required for anyone who purchases a home, for obvious reasons.Though the cost may seem like a nuisance, it is totally worth it for the protection it provides against all sorts of damages to your home. But you may think that home insurance is only for those that own their homes, but this is not the case.
If you rent, you should really consider getting yourself renter’s insurance. This will cover things like break-ins, fires, earthquake damage, and even injuries that occur inside your home such as falls, dog bites, etc. It is usually fairly inexpensive and certainly worth it for the peace of mind it will provide.
Insurance may sometimes seem like something that you don’t need, but the truth is that almost everyone will benefit from some type of insurance at least once in their lifetime. Get yourself covered so you can get on with your life!
