Image: travelblat

There are general uses of insurance and there are specific ones.  General uses typically comprise the reasons why most people will need to get an insurance policy. Specific uses will depend on the kind of lifestyle led by the insured.

Everyone stands to benefit from having a life insurance, health insurance, and long-term disability coverage.  These are insurance coverage that every person will have use of.  The remaining question in getting these types of insurance would merely center on the amount of coverage desired and not if it is needed or not, because it is.

Getting the other types of insurance would depend on a person’s personal circumstances:

1.  Auto Insurance – All vehicle owners must get an auto insurance unless they are covered by another’s policy such as that of a parent or a spouse.  It has to be made clear however that such a driver is only covered if he or she is driving the parent or spouse’s car.  If the driver is driving his or her own car, he or she needs to obtain a separate policy.  Every car needs to be insured on its own.

Licensed drivers who are not car owners still need to be covered by some form of insurance when driving.  A driver with a revoked or suspended license may opt to take a respite from car insurance expense since he or she is not expected to drive anyway up until the time of the prohibition.  Obtaining a car insurance policy not only offers protection to the driver but to other people as well who may be affected by a driver’s behaviour.

2.  Travel Insurance – Every person who travels should consider getting the appropriate travel insurance to protect themselves from any eventualities that may arise from the trip.  This type of insurance policy does not only cover accidents while on travel but also unexpected inconveniences during the trip such as sickness, flight delay, or lost baggage, among others.

3.  Extreme Sport Insurance – People who engage in extremely risky sports activities should seriously consider getting this type of insurance.  It can be obtained as additional cover to travel insurance or a stand-alone policy.

4.  Specific Profession Insurance – Malpractice insurance is a type of insurance that concerns physicians and medical practitioners for protection in the event they are sued for medical malpractice.  Other professions have their own specific insurance coverage.

5.  Celebrity Insurance – These are insurance policies obtained to protect physical assets of celebrities such as but not limited to legs, breasts, facial parts, hands, and even moustaches.

There are many other types of insurance that may be needed by specific persons.

About the Guest Blogger

Helena of insurancetown.com strongly suggests determining real needs before buying an insurance policy.