Auto insurance protects you against financial loss if you have an accident. It is a contract between you and the insurance company. You agree to pay the premium and the insurance company agrees to pay your losses as defined in your policy. Auto insurance provides property, liability and medical coverage:
Property coverage pays for damage to or theft of your car.
Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.
Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.
Your life insurance needs will depend on a number of factors, including the size of your family, the nature of your financial obligations, your career stage, and your goals. For example, when you're young, you may not have a great need for life insurance. However, as you take on more responsibilities and your family grows, your need for life insurance increases.
Reality is, going without health insurance is a very risky, because if you’re not protected from unexpected health care costs today, it could mean large costs for you down the road. That’s why, no matter where you are in life, you should know the real costs of medical care and how health insurance protects you.
Businesses, like individuals, need to carry insurance. Why? What if someone slips on your office stairs or is injured by a faulty product? An employee drops a heavy box on her foot? Someone claims their reputation was hurt by something published in your newsletter? Or, what if a fire damages or destroys your office? Commercial insurance is there to protect and defend your business, and to get you back to business in the event of a disaster or sudden, unexpected loss.