5 Different Types of Insurance Out There
There are many different types of insurance, including health insurance. Most people think of health insurance as something that you either have or you don’t have, but they do not realize that health insurance comes in many shapes and forms. Of course, health insurance is not the only type of insurance that comes in many different types. Learn more about these five insurance options and why you need them.
About two decades ago, health insurance and dental insurance were typically offered under one umbrella. Today, that is not the case. You may have a great health insurance plan but it likely does not include dental coverage. Managing the cost of dental care out of pocket can be cost-prohibitive. Dental plans can reduce costs by as much as 100% for preventive care, and 50% for major dental restoration work.
Most dentists will have a website (dental websites are usually up and running within about 90 days, making it an easy choice for a dentist to have one) that will disclose which type of dental insurance the practice accepts. Whether you are single or have a family, dental insurance is important to have.
Flood Insurance For Your Home
Do not make the mistake of that because your home is not right next to a body of water, that flood damage is not a risk. About 25% of flooding and damage happens in areas that are not considered high-risk flood areas. Another mistake you do not want to make is to think that your homeowner’s insurance will cover flood damage. Flood zones are updated regularly and it is often not announced that flood zones have changed. If you are living in a flood-zoned area, your homeowner’s insurance will likely not cover flood damage.
You have to have a separate policy to protect your home from the cost of flood damage. It is always best to err on the side of caution. Get flood insurance.
If you own a small business, even if it is an online business, you should have business insurance. Think of business insurance as health insurance for your business. There are about 1.8 billion websites out there according to HubSpot, many of them are e-commerce-type businesses, and many of them do not have business insurance, and they should. Business insurance can protect your business from libel claims, protect your products, and protect your employees. It is a type of insurance that provides a safety net for a wide range of businesses.
You Can Insure Anything
Did you know that you can insure just about anything? For example, if you are a dancer and use your legs to make a living, you can find an insurance company that will ensure your legs against damage. You can insure antique cars, paintings, and other valuables like coin collections. There is no limit to what you can insure.
These “special” policies can be underwritten by insurance carriers that specialize in insuring things that do not fall under other policies. For example, if you have a classic car, coverage under a conventional auto policy may not be enough. If you sing for a living, your health insurance plan will help you to get healthcare if something happens to your throat leaving you unable to earn a living, but it will not cover your lost wages. A special policy will cover lost wages if your throat is insured against damage.
Farmers can get crop insurance which protects against acts of good. Crops fail all the time for a wide range of reasons, and crop insurance assures that the grower can afford to stay afloat. Many farmers are not aware of how available this insurance is. They often think that crop insurance is limited to very specific crops but it is widely available for over 100 different crops.
There are a lot of insurance options out there for health insurance, auto insurance, home insurance, and other types of insurance. You can find insurance that will suit your specific needs.