No one needs to be reminded about the importance of insurance. It tends to be on people’s minds a lot these days. Insurance is basically a contract that agrees to offer financial protection or reimbursement of losses. It can be the best way to prepare yourself for large expenses that occur due to accidents or other unforeseeable events. All you have to do in pay a small amount as premium so that you can avoid paying major sums to rectify whatever your “money-draining” eventuality is. However what people really need to be briefed about is, are the kinds of insurance policies you have these days (Did you know? Football players can even insure their LEGS?) and which ones are the “must-have” ones.
What this does is quite simple. It insures your life for a certain amount of money, which shall be passed onto a person of your choice whom you shall nominate as your beneficiary. This way you can ensure that your family does to have to suffer due to your unfortunate death or any such unlikely event.
This is the kind of insurance that pays for medical emergencies and other health related expenses. These policies either reimburse the money incurred during payment or pay the treatment facility directly.
Automobile insurance covers your vehicles against damages and (God forbid) theft. If your foresee that in the near future your teenaged offspring decides to take your car for a ride and later bring it back in tatters, you must definitely have this one.
Protection for your home and other objects of value inside it are covered by this insurance. It can be availed only in the cases where natural calamities like fires, floods etc. This does not cover expense of the appliances damaged during a calamity.
Home warranty plan is different from home insurance plan. These plans cover repairs and replacement of major appliances inside your home. This kind of appliance protection plan is a must have if you live in areas where power supply is erratic or if you have an in-house Dexter whose experiments often burn up your household appliances.
It is also highly suited for folks who are having ageing appliances and wish to get peace of mind by avoiding unnecessary expenses.
Offer documents are often subject to Market risks. Make sure that you read the papers carefully before you sign up for anything. Thank you.
Tags:appliance insurance, home owners insurance, home warranty
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