Insuring property, money, loved ones, and even your own life are some of the aspects that residents of the United States (and, in general, around the world) must take into account. For this reason, it is not a surprise that more and more people are choosing to take out policies that can support everything we mentioned.
Because there are many things and beings that can be protected, there are many types of insurance in the United States . So that you know better what they cover and who needs them depending on the case, we invite you to read the information that we will explain in this article.
Why insurance is necessary?
The first thing we want you to know is that the policies offered by insurance companies are essential in almost all cases. Although in the past the process of supporting investments and other aspects was not a priority, over time this has become an almost mandatory method in all contexts.
The reasons are extremely different in each situation, but we can highlight some such as:
- Protect professionals against any type of customer complaint.
- Comply with the obligation that some states have for their residents, in which they are required to contract insurance with specific characteristics (such as civil liability for cars, for example).
- The need to support homes in areas prone to risks from natural phenomena.
- Ensure the future of loved ones in the event of death.
- Support any adverse circumstance that may occur during a working day, which will, of course, be the responsibility of the employer.
- And last but not least, there is the possibility that clients receive benefits such as cash or other values at the moment after contracting the services of insurance companies.
Insurance policies in the USA
Now, exactly what do residents of the United States usually protect? The answer to this question is as varied as it is relative, since it depends on the context and even on the place of residence of each inhabitant of the country.
That is why mentioning all the categories of existing policies can be complicated; however, we will focus on detailing the most used in the United States below.
Health insurance
Globally, we dare to say that absolutely everyone should have health insurance , especially in a country where prices for both specialist consultations (such as dentists) and emergencies are extremely expensive.
This without leaving aside the fact that medications can also be difficult to afford. Therefore, many employers tend to offer plans that are more affordable for their workers , although there is also the possibility of opting for individual company insurance.
Of course, at this point it is likely that you should have a higher budget. Likewise, we must mention that there are some insurances that have the federal government as the main provider , but not all residents are eligible to opt for their benefits.
Life insurances
Life insurance, for its part, is especially important for people who have dependents (who can be from relatives to partners). In these cases, insurers offer plans that support funeral expenses and, in addition, can cover potential debts left by the deceased.
Within this type of plans, those with temporary coverage and those that extend for a lifetime stand out, and the prices of the rates will depend on that. Likewise, clauses with highly varied characteristics can be included, which can even ensure the future of the children if both parents die.
In this sense, you should bear in mind that paying for death expenses in the United States is a process that demands considerable amounts of money for the owners of various properties . For this reason, it is especially essential to have life insurance in these contexts.
home insurance
Many people spend a significant part of their lives working to insure a home in their name, and after doing so it’s only natural that they want to back up their investment as well. For this reason, homeowners choose insurance that can protect them against any eventuality.
Thefts, thefts, natural phenomena and even any domestic accident can have serious consequences for a home . In the worst case, the total loss of the structure and the assets inside it can lead to an excessive payment from the owner.
Of course, you must bear in mind that within this type of policy numerous aspects influence such as its location, construction time, initial cost and other similar points.
Car insurance
After homes, another of the largest investments that many people in the United States make is the purchase of a car, and for this reason their owners must also add insurance that covers their acquisition.
Even —and as we already mentioned— some states require the contracting of certain types of policies to avoid conflicts at the time of a crash and that, in turn, can serve as a backup against any fine that the insured could receive.
Also, the cars are not the only ones that can be protected with these plans, but it is also about care for the physical integrity of those affected. In addition to accidents, you should remember that thefts, acts of vandalism such as scratches and thefts are other aspects that affect drivers on a recurring basis.
travel insurance
Although it is used to a lesser extent than the categories that we have already explained, we cannot leave travel insurance aside as other of the most important within the United States. In this sense, regardless of whether you are going to leave the country or just the state, it is advisable to have the support of an insurance company.
Now, exactly, what do travel policies cover? In this type of journey, travelers may also experience some inconveniences such as a medical emergency or similar incidents , but this will not be a problem when hiring an adequate policy.
Lost or misplaced luggage and ticket cancellations are other problems that could be solved with travel insurance.
pet insurance
As with humans, pets are also prone to emergency vet visits, and this can be extremely expensive in most cases. To avoid considerable loss of money, animal owners prefer to opt for insurance that can cover any eventuality.
Within this category of policies, 2 types can be highlighted: the first one is responsible for covering the costs of consultations and medications, while the other is more focused on surgeries and the treatment of more complex diseases.
renters insurance
Living in a rented space can be both positive and negative, and that will depend on each case. However, many homeowners and renters (alike) often resort to insurance that protects themselves and the property against any adverse situation that may arise.
In the specific case of tenants, it is important that they can have financial support in the event of a robbery or theft from the home.
This is because these types of events are not the responsibility of the owner of the rented space, and those who occupy it may not have the monetary availability to fix the damage caused.
malpractice insurance
In the first section of this article we mentioned that professionals must also have protection against situations that could harm them , and an example of reliable support is malpractice insurance.
Among the beneficiaries of this category are doctors, accountants and lawyers , among other professionals who have a direct relationship with clients and patients in complicated contexts.
It is also relevant to highlight that the prices of these policies are usually high due to the number of complaints received against these areas.
To be more exact, we can give as an example that many people tend to sue doctors for negligence, which has the consequence that insurers have a higher history of policy claims by these professionals.
