Basic Insurance Policies Everyone Must Have

Must Have

Health insurance is not enough all by itself – neither is car insurance or home insurance. Every person needs to have essential insurances in place, which keeps you as well as all your assets secure in case of emergencies. Here’s a list of necessary insurances everyone must have:

Health insurance:

The first and foremost insurance that you need to sign up for – because the rest comes into picture if you are hale and hearty. Putting yourself first, sign up for health insurance that suits your requirements. Make sure it covers all the illnesses you wish to have coverage for. Also, check for the list of tied up hospitals when you sign up for the health insurance to make your job of bill settlement easier. Consider the type of policy you want – individual or family floater and also choose a premium payment plan that suits your needs.

 

Car insurance:

A must in case of accidents or any other damage, car insurance is a saviour considering the huge expenses that go into the repairing of a car. You need to be clear with what you expect from your insurance – a cover against theft? Personal injuries, damage to your car, damage to other cars – and the list goes on. Focus on your needs and make sure you have proper car insurance that is comprehensive in nature to cover all your needs at once.

Life insurance:

Health insurance varies from Life insurance. Most of the people are confused amongst the two. The best way to explain the difference is this – health insurance is for the illnesses you suffer while you are alive, whereas, life insurance is not meant for you. It is a cover and assurance for your family in case of your demise. So it’s best you have health and life insurance both. Some even offer combined plans – you could also opt for those.

Home insurance

Home insurance:

The extensive expenses which you can encounter in case of damage to your home because of fire or any other natural disaster are unimaginable. Even part burn in the wall will require you to do up the entire wall. This is the nature of damage when it comes to homes. So yes, having an insurance that will safeguard your home and all the assets therein is essential.

There you go – the necessary insurances which each one must have – you need not sign up for it all at once, but yes, you can quickly sort your priorities and sign up for them as per your convenience.