The importance and need for insurance is often an overlooked factor for many people. While it is unlawful to operate a vehicle without car insurance, there are other forms of insurance that are very important to have. Having the right insurance policy can prevent further headaches in the event of disaster. And since many disastrous situations are unforeseen, it might be worth it to add insurance into your monthly budget.
It is common knowledge that all drivers must have car insurance in order to lawfully operate their vehicle. Although it is not necessary to have full coverage, all drivers must at the very least have liability insurance to pay for any damages to others' property in the event of a car accident. However, many people are not aware that some jurisdictions also require that parents provide health insurance for children under the age of 18.
Fortunately, there are a number of companies with affordable health insurance plans for the entire family. Many of these plans offer low monthly premiums in exchange for higher deductibles and co-payments.
A deductible is the amount of out-of-pocket expenses the insured must pay before the insurance company will cover the rest of the medical expenses. These expenses can include anything from hospital stays to surgery to prescriptions. A co-payment works the same way, except this is paid when the insured visits the doctor or needs a particular service such as an x-ray or diagnostic test. These plans with lower premiums and higher deductibles are ideal for families in good health, who typically need once per year check-ups with the doctor. In fact, many health insurance companies can create customized plans that will fit both the family's needs and budget.
While it is important to have car and health insurance, home and renter's coverage is often overlooked. This type of insurance covers any damages to the home in the event of a natural disaster such as flooding or fire. While a car is a very expensive asset, one's home and the contents inside are equally as expensive. And just like health insurance, many companies offer customized plans that allow the homeowner to afford the right type of coverage. Depending on the type of plan, this coverage can also include the replacement of any of the home's contents such as televisions, furniture, or any other expensive items that otherwise could not be replaced out-of-pocket.
Having insurance is a necessary expensive, not just for your car. Although this can be an added expensive to your monthly budget, having the right kind of coverage can prevent further stress and financial instability when there is a need for expensive medical treatment or home repairs.
By: Alfred Ardis
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A san francisco insurance agent can help you pick out an affordable plan that fits you needs. To find out more today, visit: http://www.myyp.com.
