FinanceDogma – Finance, loans, creditcard and mortgages

May 16, 2009

Insurance: Do I Really Need It?

Filed under: insurance — Tags: , , , , , , , , , , , , — admin @ 7:42 pm

There are many different types of insurance, with the underlying purpose being to protect individuals from a host of unseen situations. In most situations this protection will cover individuals by providing money when required, as well as protection from liability, damage and financial loss. Insurance can protect individual’s homes, vehicles and life, among other things. Depending on the needs of the customer, insurance packages can even be tailored to fit their needs.

In certain situations there are some insurance policies that are compulsory. Automobile insurance against personal injury in a number of states is one such example. Insurance coverage can be quite broad and vehicle insurance is not different. As a consumer, you can select between a simple liability policy that pays the other party should you be involved in an accident, but provides no coverage if your own property is damaged.

If you require higher coverage, you might opt to take out a comprehensive policy that will cover damages to the other party’s property and also to your own property, as well as medical expenses. With such a range of coverage and many points of coverage in between, it is generally considered that automobile policies can be varied in nature. (more…)

Powered by WordPress