The Most Common Types of Insurance When it comes to something like insurance, its sort of obvious you need it, but where do you start? What policies are needed and which ones are a waste of time? Overall between renters, homeowners and business owners there is something like 55 types of insurance. That's a pretty crazy number and it might be so insane, that its actually making your head swim. So which ones are important and which ones are not? below we will be going over the most common types of insurance, as well as a few that are a waste of time and money! These are the most common types of personal insurance that you may need. If you are looking for other types of personal insurance or need business insurance you should consult with an insurance broker. Health
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This is a big policy. In fact in 2009 a study was done and it turned out that over 60% of personal bankruptcies were actually because of health insurance costs. When you purchase this type of insurance there are a few things you will want to think about. First off, you will need less coverage for a healthy single person than for a person that smokes, is elderly or someone with chronic health issues. If you want to use your health insurance a lot or you are a worry wort, you are going to want to find a plan that allows you a low deductible and copay. You also need to ask if you can keep your current doctor or not - some policies require you to get a doc in their network. When shopping for a policy know what you can afford versus what you can't afford. Car Insurance If you have a car, you absolutely need car insurance folks. In fact, in some or all of the states in the US its actually illegal to not have car insurance and you can get fined if you are caught driving without it. If you have an older car, the bare min will do, on the other hand if you own some really expensive car, you will want a bigger policy obviously. There are different types of car insurance such as liability, collision,