What Types of Insurance Do You Need?

Have you ever considered how many unexpected financial disaster that could possibly happen? What if there were a natural disaster? A Terrorist attack? A job layoff? A vehicle breakdown? An unexpected major medical expense? The possibilities are endless, and you are going to put yourself in a very risky situation if you don't have the proper types of insurance. Here are the types of insurance that we recommend you have to protect you and your family.

Health Insurance - Every person needs good health insurance. It might seem a little bit expensive, especially if you cannot get group coverage from your employer, but it will be much more expensive to have an unexpected medical expense that you weren't planning. If your family is healthy, consider saving money by making use of a Health Savings Account.

Automobile Insurance - Most states require that if you are have a vehicle that you are at least required to have liability insurance for your automobile. If you have a "garage sale" car which is worth less than $4000 or so, chances are it's not worth it to get collision and comprehensive insurance, liability should be enough. If your vehicle is more than $5,000 or so, you should definitely consider getting collision and comprehensive insurance because if something were to happen to the vehicle, it would actually be worth fixing, unlike most garage sale cars.

Long Term Disability Insurance - You are actually four times more likely to have a situation where you become permanently disabled than die before the age of 65. Everyone who has an income needs long term disability insurance. This insurance will help pay for your living expenses should you become permanently disabled. Specifically look for "own occupation" insurance which pays you if you cannot do your current job. It's rather inexpensive and definitely needed.