Insurance becomes necessity even though we know that it is not possible to make prediction weather it will be useful or not. Most of the people know about only well known policies like life insurance, health insurance, car insurance and home insurance. Here are other necessary insurance policies that are not known amongst people.
Renters’ Insurance:
To protect valuable things, Renter’s insurance policy is very useful. Though you don’t have own estate, the apartment does contain property that would be costly to replace after fire or water damage. Generally, renter’s policy will cost nearly $150 per year to cover property of $30,000 and $100,000 in liability.
Antiques Insurance:
Many times, regular insurance policies do not include or cover less certain antique properties. But it’s costing goes high, when it damaged by fire or water or other calamities. Antiques insurance policy includes all this properties.
Longevity Insurance:
This policy provides monthly pay after reaching at certain age. It is not too expensive if a person purchased it in a younger age.
Pet Insurance:
An operation on pet gets costlier when there is not much arrangement for it. Pet insurance costs up to a few hundred dollars per year and increasing as the pet gets older. Now days, many employers are offering this as a benefit to their employees.
Business Life Insurance:
It is also known as ‘key person’ insurance. Main feature of this insurance is that, it can protect an entrepreneur’s business if he passes away. Remaining partners can carry on business after one partner’s death.
Disability Insurance:
This insurance can be expensive. Disabilities can be minor or major and temporary or permanent. Check with your employer if he is providing or not. Employee may buy himself also by paying more on regular policy.
Long Term Care Insurance:
In older age, when one need nursing facility at clinic or home and he is not able to pay expensive medical bill, long term care policy comes to help. Premium depends on type and facility that policy carries. It is available for three to five years and more than that.
Wedding Insurance:
An average wedding cost up to $24,000 in current era. Many times, due to some catastrophes or personal reason, wedding is canceled at last stage of its preparation which incurs a huge loss to couple. To avoid this risk, many companies provide protection against hurricane, swine flu, or such mentioned unexpected hazards which costs less than $500.
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