Life is full of uncertainty. You may be strong and healthy today and sick the next day. You could also hit the road and be the victim or cause of a car accident along the way. When these disasters happen, it pays to have an insurance policy to cover any resulting losses.

There are different types of insurance covers for different types of accidents. Here is an insight into six types of insurance covers that everyone needs.


1. Health Insurance

Health insurance is the most important type of insurance as your health is vital. A health insurance policy will cover you against illnesses and body injuries. It is especially important in cases of sudden illnesses or accidents and chronic diseases such as cancer. In spite of the vital importance of medicine and medical services, hospitals are continually increasing charges to a point that they may become unaffordable, so the importance of a health insurance cover cannot be emphasized enough.


2. Home Insurance

Imagine not having a place to retire to and call your own. The thought may not cross your mind, but disasters such as fires, floods, and earthquakes strike without warning. When they do, it helps to have a home insurance cover to get your home back in shape.

A home insurance policy will cover the losses you incur in case of accidents and pay for the repairs or construction of a new home, thus saving you thousands of dollars. It will also give you peace of mind in the knowledge that you never have to lose your most important asset.


3. Car Insurance

Car accidents occur every day and in surprisingly high numbers. You may be a good driver, but the next person may not. You may also lose your guard at some point and become the cause of an accident. The result is damaged cars and body injuries.

Car insurance provides two types of covers: medical coverage and property liability. Medical coverage pays for your medical bills as well as the second parties. Property liability, on the other hand, pays for repairs to the damaged vehicles and, in cases where the cars are totaled, covers the cost of a new car. Motor insurance is not a choice as every driver is required by law to have one.


4. Commercial Insurance

Every smart business person knows that there is no certainty in business. Even large corporations often described as “too big to fail” know that that is an exaggeration. As such, they always stay covered with commercial insurance to ensure that they are always on their feet; and so should you. In fact, commercial insurance is the most important asset any business can have.

Commercial insurance should be comprehensive to cover all your business’ assets including employees who may incur losses or accidents while working.


5. Life Insurance

Everyone has to live with the grim realization that they will die one day. When that day comes, all those who love you and perhaps rely on you will be broken. However, you can still ensure that your loved ones are cared for even after your death through a life insurance policy. Your beneficiaries will receive financial support from the insurance company depending on how much you invested in it.

Like health insurance, life insurance is absolutely necessary. For optimal surety, it is recommended to invest enough in your cover to leave your loved ones the best care.


6.Personal Accident Insurance

Body injuries resulting from accidents can be life-changing. For example, you may become disabled in the case of a car accident. Consequently, you become incapacitated to work (at least for some time after the accident) and your livelihood is compromised. However, personal accident insurance can support you financially through the trying time.

Personal accident insurance coverage can be broad or specific. For instance, some athletes have personal insurance policies that cover specific parts of their bodies such as legs.

Do you have additional questions about a particular type of insurance?
Contact a specialist at Grindell & Romero Insurance to answer any of your questions. Providing insurance including home, life, business, and car insurance to Las Cruces, NM and surrounding areas since 1888. Call today for a free consultation and pricing.

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