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Insurance is your major protection against financial risks, and knowledge about basic insurance facts can make you a better consumer. This page was designed by the Independent Insurance Agents of America to introduce you to the different types of insurance, which ones you need and which ones you don't. While this page addresses the most common questions about insurance, your insurance agent can answer your specific questions, and make sure you have the coverages you need.
How do I decide which kinds of insurance I should buy?
You probably should consider five basic lines to see if they apply to your situation:
- Auto Insurance -- If you own or lease a car or are planning to in the near future, you will want to protect that investment with auto insurance.
- Health Insurance -- To cope with today's high medical costs, virtually everyone needs health insurance.
- Homeowners or Renters Insurance -- Whether you own a home or rent an apartment, you want to make sure your possessions are protected.
- Life Insurance -- If you have dependents or are interested in purchasing life insurance that builds value as you pay the premiums, talk with your agent about the plans available.
- Disability Insurance -- This is designed to provide required income should you be injured or disabled. The extent of coverage should be enough so that, when combined with your other assets, you would have enough to live on.