Types of Insurance You Need but Dont Have
An insurance company provides coverage for any damage that might be caused to your property based on the clause of the insurance policy. There are different types of insurance policies that offer coverage for health, motor vehicle, buildings, etc. Note that an insurance policy does not cover everything. There are a lot of details excluded in the insurance that you are probably paying for but are essential. The article herein discusses some of the insurance you should consider that you didnt know are essential.
To begin with, if you are renting a house, you should think about renters insurance. It is clear that your landlord has probably insured the house. Since the house insurance does not cover your belongings, you are liable in case of any damage. To ensure that your belongings are insured, you should buy renters insurance today. You will probably be sued for any loss or damage you may cause in the building if you dont have renters insurance.
Again, you probably didnt know about the earthquake and flood insurance. Floods and earthquake are some of the natural calamities that cause a lot of damage in flood zones. Remember that regular homeowners insurance does not cover damages caused by earthquakes and floods. It is also important to consider supplemental health insurance plans that cover costs above essentials covered by your basic medical plan. Some of the health issues covered by supplemental health insurance include long term disability and dental insurance. Also, it covers vision insurance plans, critical illness insurance, etc.
The other insurance plan that you need is the umbrella and gap insurance. In case the loss is bigger than your home insurance policy limit, you could be sued, and you will pay for the loss. To get extra liability protection, buy umbrella and gap insurance. It is also beneficial to have umbrella and gap insurance to avoid paying off the loan in case you owe money on the car, and it gets damaged.
Also, consider buying a pet insurance policy. Since the medical care for a pet is costly, you should have a pet insurance to ensure that your pet gets medical attention even if you dont have enough money to pay for their medical bills. To ensure that your pet is covered, you should buy a policy similar to the basic care you purchase for yourself and family. There is a solution if your pet already has a condition. By buying pet insurance pre existing conditions, you will be able to save a lot of money in the long run.
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