There are several ways to purchase private insurance to cover incidents and emergencies. You can get information on the various types of insurance from insurers or brokers/advisors.
Keep in mind that most advisors work on commission, so their advice can be distorted. If you want good advice, contact an independent advisor. Some banks offer insurance advice with their financial advice.
In many states in the United States, auto insurance is mandatory. Before you sign a contract, insurance companies usually make a thorough investigation that includes your driver history and claims history. If your record is bad, chances are your insurance will be more expensive.
The landlord provides you with accommodation, but you need insurance to cover your belongings. Also, if someone is injured in your apartment, you may have to pay their hospital bills. Even if the accommodation is not yours, it is important to buy insurance.
Home insurance covers you in the event of burglary, vandalism, storms and other incidents. It often reimburses damaged goods at their current value, such as furniture, appliances and money up to a certain amount. The insurance must correspond to the true cost of the insured items in your apartment. If you have valuable assets, it is recommended that you take out additional insurance.
A life or “whole life” insurance policy guarantees that a fixed sum of money will be paid to the family upon the death of the insured. There is also term life insurance which do not include the sum of money as life insurances but which cover a person during a determined period which can go from one year to 10, 20 or 30 years. You can also purchase term insurance that covers you up to a certain age, often 65 or 70. Term insurance expires on a specific date.
This type of insurance is normally used to protect your loved ones from potential debts. For example, if you and your wife own a home, your wife may still have to pay the credit alone after you die. With this insurance, she will have enough money thanks to the insurance to finish paying the credit.