What Type of Insurance Should You Have?

An insurance policy acts as your financial safeguard should any unforeseen circumstances happen. There are a lot of options when choosing which coverage is right for you. You don’t have to worry, though, because you can even have them all, depending on your situation. Here are the different policies you can purchase:

Life Insurance

This is the most important insurance coverage you can’t go without. If you have your own family, they can use this after your death to compensate for lost income, pay for your children’s education, and even settle debts.

If you’re single, you can have your family members, such as your sibling, cousin, or whoever you trust as your beneficiary. If you don’t have a policy but you’re a working individual, it’s best to check with your employer since most business owners provide group life insurance.

Auto Insurance

If you own a vehicle or have recently purchased one, you should get auto insurance that includes collision and liability coverages as soon as possible. This will help protect your vehicle if ever you get into unprecedented situations.

If you get into a collision, your auto insurance will cover the damages incurred by your vehicle. In the event that you’re at fault and the other party got severely injured, it will also help you pay for medical expenses and legal defense costs.

Property Insurance

The last one is the homeowner’s insurance. Your home is your greatest asset, so it’s only true to give it the protection it deserves. This policy is actually mandatory for most people who have a mortgage.

But, if you don’t own a property yet, you can get renters’ insurance. This can cover replacement costs if your dwelling gets caught on fire, damaged due to a disaster, or targeted by a burglar. Both of these policies can also protect you from liability if someone gets injured inside your home.

No matter which insurance policy you choose, remember that there are factors that can affect your premium cost. It’s a good thing that Nicholson Insurance can help you find the solution that fits perfectly for your needs. Contact us today to learn more.