There are various types of insurance coverage designed to address different risks and needs. Some of the most common types include:
- Health Insurance: Provides coverage for medical expenses, including doctor visits, hospitalization, and prescription medications.
- Life Insurance: Offers financial protection to your loved ones in the event of your death, providing a lump-sum payment (death benefit) to beneficiaries.
- Auto Insurance: Protects you against financial loss in case of accidents, theft, or damage to your vehicle.
- Homeowners/Renters Insurance: Covers your home or rental property against damage, theft, and liability claims.
- Disability Insurance: Provides income replacement if you become unable to work due to illness or injury.
- Liability Insurance: Protects you from legal claims and financial losses if you’re found liable for injuring someone else or damaging their property.
- Umbrella Insurance: Offers additional liability coverage beyond the limits of your other insurance policies, providing an extra layer of protection.