Insurance

Types of insurance

Insurance companies will insure just about everything but sometimes the coverage is so limited that it’s not even worth insuring. At first let’s look at the most popular types of insurance for individuals, that are worth having.

1. Car insurance – In most countries around the world some type of car insurance is mandatory and even if it’s not is very recommended to have one.

2. Health insurance – it’s very recommended to have health insurance even though it’s hard to pay for it when you’re healthy. But when you get ill or have an accident then it covers most of your medical costs.

3. Property insurance – it covers any accident that could happen to your home, for example fire, flood, theft…

Purchasing insurance

Choosing a right insurance for you can be hard and time consuming so here is a quick guide on how to deal with it easier.

First you need to know exactly which typo of insurance you’d like to get. To help you with that answer the next questions:

  • what would you like to insure? Car? Property? Your cat? Your spuse?
  • how much coverage would you like to have?
    • for car, just the basic or also theft, repair, vandalism, personal injury…?
    • for property, against fire, flood, vandalism, falling of comet…?
    • for your spouse, life insurance, injury insurance…?
    • for any other item, imagine what could happen with it or how could it get damaged and write down if that’s something you would like to insure
  • what’s the current value of the things you want to insure?

After you’ve answered these questions it’s time to start contacting insurance providers. First you should talk to your friends and family and get recommendations for insurance provider from them and if that fails just use google. Getting a quote is the next step, pack all of your requirements into an email and send it to recommended or googled providers. You should get a few quotes quite soon.

And now comes the hard part. Choosing the right insurance. They can all look the same at first but you must check the specifics, what and how much do they cover, how big are the deductibles… and hopefully you will find the insurance that fits you the most

In the event of the accident or any other unwanted event, that is cover by your insurance you should contact your insurance provider as soon as possible and usually they will help you to resolve the issue.