Auto Insurance

Auto insurance offers coverage and protection for vehicles. The purpose of auto insurance is to provide financial coverage in case you meet with an accident.

The auto insurance company provides three types of coverage including property, liability and medical coverage. Property coverage offers financial compensation for damages that is caused to the properties during the car accident. Liability coverage offers compensation for your legal responsibility if you are the one that is responsible for injuring the other party. Medical coverage provides compensation for people that was injured as a result of the accident such as rehabilitation, hospitalization and medical bills.

Majorities of the states do not require you to buy all the coverage. You should refer to the appropriate department in your home state to find out the minimum requirement for auto insurance. People who are financing a car may have to fulfill a number of requirements set by the lenders.

Motorcycle Insurance

Motorcycle insurance offers financial protections for people that own a motorcycle. If you happen to meet with an accident, you can file a claim to your insurance company and get compensation. Motorcycle insurance has lower property damage premiums due to the minimal risk. However, motorcycle insurance has a higher liability and personal injury premiums.

Motorcycle insurance has higher risk damage because the riders are faced with all kinds of risks on the road. The motorcycle insurance will pay off your medical bills if you suffer from an injury or is hospitalized due to the accident. It can also offer compensation for damaged caused on the car or motorcycle of the other party.

If your motorcycle is damaged, the motorcycle insurance will settle the repair cost including the replacement parts. The standard term of the auto insurance policies is 6 months – 1 year. The company will send a notification to you when your policy has expired.

Life Insurance

Life insurance offers compensation against the life of the policy holder. If you died in an accident, the life insurance company will disburse the fund to the beneficiary. Your family won’t have to bear the cost of the funeral.

The beneficiaries will be provided with a daily allowance so that they can live a normal life after the death of a breadwinner. If you suffer from a critical illness, the life insurance company will pay for your medical bills. With life insurance, you don’t have to worry about the expensive hospitalization fee because they will be covered by the insurance company.

There are many types of life insurance policies including whole life, universal life and variable life insurance. The whole life insurance offers coverage for as long as you live. The universal life insurance provides death benefit and tax deferred savings. Variable life insurance lets you choose from a wide variety of investment options including bonds, and stocks. The interest you earn from the investment will be accumulated in your account.

Homeowners Insurance

The homeowners insurance offers coverage for people that want to protect their home from accidental damages.

If a calamity happens to your house, the insurance company will pay the compensation. For example, if your house is burned down by an accidental fire, the insurance company may offer new replacement of furniture. Homeowner insurance offers two types of coverage including property and liability coverage.

The homeowner insurance is a single premium insurance that will pay for all types of risks. Normally, the homeowner insurance does not offer coverage for floods or war. If you want to insure your home against flood, you must purchase the flood insurance.

The insurance company will offer a discount in the premium if your house has a lesser risk to become damaged or destroyed. For example, if your house is located nearby to the fire engine, the insurance company will charge you with a lower insurance premium.

Health Insurance

Health insurance offers financial protection in case anything happens to your health. Health insurance can be applied by all kinds of people including self employed, family and student.

There are many types of health insurance coverage including family, group, short term, and individual health insurances. Family health insurance offers health coverage for the whole family at a monthly premium fee.

Group health insurance is used to provide protection for the partners and employees. Many insurance companies offer discount in group health insurance because it is purchased in bulk. Short term health insurance offers temporary coverage during a major life changes. Individual health insurance is suitable for people that want to find health insurance coverage for themselves. Some individual health insurance can offer protection for an additional individual such as spouse.

The cost of the health insurance includes premium, deductible, coinsurance, and copayment. The premium is the monthly fee you pay for your health insurance. The deductible is paid each year for the health related expenses. The coinsurance is the cost of the covered health related services that is paid provided that you meet the deductible. Copayment is a fixed amount that is paid for certain health service.

Business Insurance

Business insurance offers protection against the risk in a business. It provides protection against the damage of the business vehicles, office equipments and the inventory in factory. Business insurance is essential for small and large companies. Without business insurance, you are forced to pay for all the damages done to the equipments and inventories in case of a disaster incident.

Business insurance will pay compensation for the damages done to your business vehicles during an accident. It offers liability protection from exposure that happens during the business operation. It will also offer compensation for lost of income if your shop is temporarily closed down due to a covered loss.

The business insurance protects your business against exposures including faulty entry and offenses. If the inventories or equipments in your company were stolen by thief, you can file a claim to the insurance company and get compensation. It will provide financial compensation for dishonesty in employees if you can provide proof.