4 Most Basic Insurance Policies

Nowadays, you can insure almost everything that you have, including your body. In 1999, the New York Post ran articles claiming that Jennifer Lopez had secured her body against any hurt, loss or damage. Meaning she can be compensated if something bad happens to her body. I don't intend to know if it's true or not as it's not the topic of this hub. Instead this will focus on the 4 most basic Insurance policies.

Life insurance guarantees a specific sum of money to a designated beneficiary upon the death of the insured or to the insured if he or she lives beyond a certain age. To me this is very important especially if you're married and you have kids who rely on you.

Imagine if you're the breadwinner in the family and God forbid, you pass away. Where will your family get financial support from at least for the first couple of years? If you have a life insurance it may help them recover at least for the first year depending on the terms that you have with the insurer.

Health Insurance is a form of insurance, where an individual pay premiums or taxes in order to help protect himself/herself from high or unexpected healthcare expenses. Most but not all companies do provide health insurance benefits to their employees.

I believe this is very important even if it's a bit costly as a simple consultation with a doctor can be really expensive. If you're an average earner without a health insurance, a week of confinement in a hospital can be 5-10 times (or even more) more expensive than what you would have to pay for for a year of being insured, of course depending on the terms that you have with the insurance company.

Property Insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, renters insurance or boiler insurance. This insurance policy (Homeowners insurance) is actually required to most people who have a mortgage.

The are insurance companies will replace your damaged items with its current value or cost and not the the depreciated value so make sure that you find them.

Auto Insurance is insurance purchased for cars, trucks, and other vehicles. Its primary use is to provide protection against losses incurred as a result of traffic accidents and against liability that could be incurred in an accident.

Well, I believe there's really no need for me to explain this as almost everybody knows the importance of this. Most of the car companies offer the insurance at a discounted price when you buy a new car. It's really your choice if you want to have it but I personally would feel a lot more comfortable having this as it gives me peace of mind. You may be the most safest and defensive driver in whole universe but as Mr. Gump said, "Sh*t" Happens. I'd rather be safe than sorry.