Wednesday, June 26, 2019

3 Types of Insurance You Need for Natural Disasters

Spectr News Theme Isny Dewi R.
15, November 2018

No matter where you live, disasters can occur suddenly and without warning. Your house could be at risk for flooding, fires, earthquakes, tornadoes, and everything else which unpredictable. Without insurance to cover against these potential risks, you may not be able to recuperate from damages you might experience.

Though these types of incidents are uncommon and unpredictable, it is wise to be prepared for anything that could happen to your home. Assess your life and your needs and think about what you need to protect. You may need to consider to having insurance. Here are three types of insurance you can get to cover your home in the event of a natural disaster.

1. Life Insurance
This type of policy is more important if you are married and have children, but even single people can benefit from having life insurance. Life insurance can meet several financial needs. In the case of someone who's married with a family, it can replace lost income, help to pay any lingering debts after your death or pay for your children's college education. If you're single, life insurance could pay for burial costs and pay off any debts you leave behind. Under most circumstances, you need life insurance to protect your surviving family, who depend on your income.

2. Health Insurance
Disasters such as flood, generally living disease. Health insurance is easily one of the most important types of insurance to have. Your good health is what allows you to work, earn money and otherwise enjoy life. If you were to develop a serious illness or have an accident without being insured, you may find yourself unable to receive treatment or even in debt to the hospital.

3. Property Insurance
One type of policy that for most people that is actually mandatory to have is homeowners insurance when you have a mortgage. If you borrow money from the bank to purchase a home they will require the asset to be insured. For many people their home is their greatest asset so it is vital to adequately protect it.

If you rent instead of own, a renters insurance policy is just as important. Your belongings inside the dwelling can add up to a significant amount of money. In the event of a burglary, fire or disaster you should be able to at least have a policy that can cover most of the replacement costs. Both homeowners and renter's insurance can also protect you against personal liability if someone is injured at your home.

Isny Dewi R.
Isny Dewi R.