I’m Covered: A Look at All Kinds of Insurance You May Want or Need


In 2018, nearly 6% of insured homes filed an insurance claim.

We’re all aware that having insurance is a good idea, but do you know about all the different types of insurance?

You never expect that you’ll need to file an insurance claim, but when the unexpected happens you’ll be glad you had coverage.

Let’s take a look at all kinds of insurance that you might want to have to protect yourself, your assets, and your family.

Homeowners/Renters Insurance

If you’re a homeowner with a mortgage, there’s a good chance you already have homeowners insurance. If you happened to buy your property in cash, you’ll want to purchase a homeowners policy to protect what is most likely your biggest investment.

It’s important to know that most homeowners insurance policies don’t include flood or earthquake coverage. Depending on where you live, you might be at risk for one or both of these natural disasters. Consider purchasing either flood or earthquake insurance to make sure you’re covered should either type of disaster occur.

Even if you don’t own the property you live on, that doesn’t mean you’re off the hook. In the event of a disaster, you’ll be responsible for replacing your own belongings if you don’t have renters insurance.

Auto Insurance

It’s pretty grim to look at the statistics about auto accidents in the U.S. In 2018, there were nearly 7 million car accidents and about 39,400 people died as a result of a car accident.

For Americans between 5 and 24, car accidents are the number one cause of death.

Even though car insurance isn’t required in all states, that doesn’t mean it isn’t a good idea to have it. If you do live in a state that requires auto insurance, the fines can be pricey if you are found to not have proof of insurance.

Car accidents can range from minor to catastrophically fatal, but even in the smallest car accidents there can be injury and vehicle damage. If you have auto insurance, medical and vehicle expenses will likely be covered after your deductible. Your insurance company can also help protect you from litigation that could arise from the accident.

Having car insurance can also protect you from the costs of incidents like a natural disaster, theft, and vandalism.

Health Insurance

Did you know that two out of three bankruptcies between 2013 and 2016 were caused partially by medical problems? Between medical bills and the loss of income due to illness, too many Americans are one serious illness away from needing to declare bankruptcy.

Health insurance can be a bit pricey, but when you consider the potential cost of a hospital stay and treatment, it’s worth the cost.

Some Americans receive health insurance through their employer. If not, the other options are looking into trade organizations or associations or purchasing private health insurance.

Additional types of insurance you might want to consider getting are dental and vision. Sometimes these will be included in a health plan and sometimes they have to be purchased separately.

Long-Term Disability Insurance

No one imagines that they’ll need disability insurance. Unfortunately, according to the Social Security Administration, one out of every four workers that enter the workforce will need will be unable to work at some point before retirement age due to disability.

The burden and costs of a long-term disability can be quite extreme. The reality of being out of work for weeks, months, or potentially forever, is not something many of us plan for. There are disability insurance companies online where you can get long-term disability insurance that can help you make sure that you can pay for daily expenses when you’re unable to work.

Life Insurance

Life insurance can help support your family after you pass away. This is particularly important if your loved ones are dependent on your salary for bills and living expenses.

Life insurance policies can help cover funeral expenses and the daily living expenses of those you leave behind.

Are you wondering: how much life insurance do I need?

It’s recommended that you get a life insurance policy that covers ten times the amount of your yearly income.

There are several different types of insurance you can choose from. The main two life insurance types are term life and traditional whole life. There are significant differences between these two, so it’s important to do your research before signing on.

Business Insurance

If you’re the owner of a small business, business insurance can help protect you from a number of events that could derail your company.

One of the most common kinds of business insurance is liability insurance. These can help protect you from the expenses of lawsuits. Depending on your type of business, you can either get general liability insurance or professional, product, and employment practices liability.

There’s also a good chance you’ll want property and auto insurance for your business. In the same way you want to protect your personal property and vehicle, you’ll want to make sure your business property and vehicles are covered, too.

Another type of business insurance is called key person insurance. This is essentially a life insurance policy for a crucial executive in the case that they pass away. This can help your business survive the transition after the loss of an important and key person.

Umbrella Insurance

With all kinds of insurance, you are purchasing a certain amount of protection in your policy. That means that it’s possible that when you call upon your insurance for an event, they might not cover all of it.

This is where umbrella insurance comes in. Having an umbrella insurance policy can provide coverage beyond the limits of your other insurance policies. This is an essential way to protect yourself and your assets in the case of your regular insurance policy falling short.

Choosing to buy an umbrella insurance policy can be more affordable than increasing the coverage limits on your auto or homeowners insurance. Your insurer, though, will most likely require that you have a minimum amount of liability insurance through your other policies.

Long-Term Care Insurance

Around the world, people are living longer and longer. While on the one hand, this is great news, on the other it can mean that as we age we need to rely on others to take care of us.

Whether it be in-home care or a nursing home, having long-term care insurance can help cover these expenses.

Identity Theft Protection

The potential of having your identity stolen is terrifying, but unfortunately it isn’t terribly uncommon. With the right combination of personal information, a criminal could completely destroy your finances in any number of ways.

While identity theft protection isn’t something people often talk about when they discuss insurance, it’s worth considering.

Pet Insurance

Having a pet as a member of your family isn’t cheap. Vet bills can really start to add up even when your furry friend is in perfect health.

Pet insurance coverage generally comes in three different types. There is wellness care which helps cover the costs of routine vaccines, screenings, and checkups. There’s also accident care, which can help pay for vet treatment after an accident or an injury.

Lastly, there is comprehensive care. This helps pay for both unexpected accidents and routine wellness treatment and checkups.

The way that this kind of insurance typically works is that you pay the vet bills and then are reimbursed by your pet insurance company.

Travel Insurance

When you’re planning out a big trip, you might want to consider getting travel insurance. There are a number of different events this type of insurance can help with.

Medical Treatment

It’s possible that your regular health insurance will be of no use in another country. Should you need emergency medical care, travel insurance can often reimburse you.


Being a tourist in another country comes with its own set of risks. Depending on where you’re traveling to, you could be more vulnerable to being robbed. Travel insurance is useful in that it can help reimburse you for the value of your lost goods.

Trip Cancellation

If you have to cancel your trip, travel insurance can help your recoup the costs. This is particularly important if you purchased non-refundable plane tickets or housing accommodations.


There are a lot of unexpected things that can happen when you’re abroad. Be it a natural disaster, political unrest, or riots, having trip insurance can both help you evacuate and recoup your lost costs.

Extra Help

Not all travel insurance has this feature, but some come with 24-hour operators available. This means you can call them if you need assistance, for example with translating directions or roadside assistance.

Knowing About All Kinds of Insurance Can Ensure You’re Prepared For the Unexpected

No one wants to have to call upon insurance, but in the case of an unexpected event, you’ll be glad you had the foresight to purchase a policy.

Did you find this article about all kinds of insurance helpful? If so, be sure to check out the rest of our blog for more informative articles!

About Author

LaDonna Dennis

LaDonna Dennis is the founder and creator of Mom Blog Society. She wears many hats. She is a Homemaker*Blogger*Crafter*Reader*Pinner*Friend*Animal Lover* Former writer of Frost Illustrated and, Cancer...SURVIVOR! LaDonna is happily married to the love of her life, the mother of 3 grown children and "Grams" to 3 grandchildren. She adores animals and has four furbabies: Makia ( a German Shepherd, whose mission in life is to be her attached to her hip) and Hachie, (an OCD Alaskan Malamute, and Akia (An Alaskan Malamute) who is just sweet as can be. And Sassy, a four-month-old German Shepherd who has quickly stolen her heart and become the most precious fur baby of all times. Aside from the humans in her life, LaDonna's fur babies are her world.

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Correduria de seguros Tenerife

As I was reading your article, you state that drivers must be aware of what is in their auto insurance policy. I agree with you, recently my brother got in an accident, and he realized he didn’t have liability coverage. I believe knowing what is in your auto insurance policy is key to understanding your full coverage.

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3 years ago

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I imagine that it’s much cheaper than you’d think, provided you’re willing to accept a moderately high (say $2,000) deductible. When I did it, the cost (~$350 for six months) was about half of my contribution under my employer’s plan, for which they pay 80%.

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3 years ago

Hello, This insurance covers only if the customer’s car is lost or has the damage for minimum 75% until could not be used anymore. If the customer’s car has an accident and his car damage until 75%, the guarantor (the insurance company) will pay the customer’s claim.