Four Types of Insurance that Can Save the Day
We’ve all heard horror stories that involve a big bad insurance company that refuses to pay out on an important policy. This makes for great television drama, but is definitely far from reality. The truth is that insurance companies are more interested in making sure that their clientele are properly covered than they are about anything else. Many insurance agents are paid on commission. This means that if they are unable to sign people up for new policies, they probably aren’t getting paid much. It makes much more sense for them to want their customers happy, and “happy” only happens when policies work like they’re supposed to.
A good insurance policy with the right agent can mean the difference between rebuilding your home after a disaster, and getting cozy in a cardboard box. Those medical bills that we all grumble about? Imagine those times ten without the help of insurance! This financial safety net is something that many of us take for granted until we’re faced with the worst case scenario. If you have questions, reach out to the Arizona insurance commission. Here are some types of insurance that you should definitely look into:
1. Health Insurance
This one is an absolute given. Everyone will need to see a doctor at some point in their lives. This is totally unavoidable, and a guaranteed need. Whether it’s in response to a medical emergency or an appointment for personal maintenance- medical services can be incredibly expensive!
Looking through an itemized hospital bill can be terrifying. There’s really no cap on the prices that they can charge for certain things, and some hospitals definitely take advantage of this. It’s not unusual to see the price for a Tylenol in the double digits. If that doesn’t motivate you to check out health insurance, you must have a seven figure income.
Health insurance can cover up to eighty percent of medical costs after a deductible is met. This deductible is usually between $1,500- $5000, and can easily be met with a smart savings plan. You may still end up with hefty bills, but the savings are definitely worth the cost of good medical insurance.
2. Automobile Insurance
If you own a vehicle, then you’re probably already aware of auto insurance. This is that pesky payment that accompanies your car payment every month. Unfortunately, you’re legally obligated to have this type of insurance. This is because of the risk that you pose to other people and property when you drive.
A good auto policy will provide you with the coverage you need to replace your vehicle, cover any medical bills for both yourself and any other parties involved, and it will provide you with compensation for any damage that you may have done to both the vehicles and surrounding property.
This is especially important when the accident is your fault, or results from the weather or animal intervention. Buying two new vehicles, replacing someone’s fence, paying medical bills for two people, and going to jail because you didn’t purchase auto insurance seems pretty foolish!
3. Homeowner’s Insurance
This policy works to pay for repairs or to replace your home in the event of a disaster of some kind. There are types of homeowner’s insurance for almost any scenario that you can imagine. This is one policy that can literally keep your family off of the streets.
4. Life Insurance
Leaving your family and loved ones with a mound of debt coupled with funeral expenses isn’t the way that any of us want to be remembered. This is another insurance policy that you should design with an agent in order to tailor to your specific needs.