Are You Covered? Insurance You Never Think About, But Might Need

While you most likely have your car and home covered with basic policies, there might be some gaps in your insurance coverage that you’ve never even considered before. Here is a glimpse of a few different policies that could help you protect your health, business, and personal possessions better.

Long-Term Care

Long-term care is about much more than nursing homes and retirement communities. This type of coverage can help anyone who finds themselves dealing with a chronic injury or progressive medical issue that requires ongoing help from a medical professional. While medical bills can be quite expensive, long-term care can cost thousands of dollars a month for the rest of an individual’s life if they are not covered.

Renters Insurance

Relatively few renters ever think about insuring the belongings inside their residence, and that can be an expensive mistake. This type of coverage is much less expensive than homeowner’s insurance, and it covers many of the same issues such as theft, vandalism, fires, and various natural disasters.

Pet Insurance

When first adopting a pet, not many people realize just how expensive a medical emergency can be. Just like medical bills for a human, a single accident that injures your pet could cost you tens of thousands of dollars. These policies will also cover any unusual situations that might take place with your pet such as them being attacked by another animal.

Umbrella Insurance

Most basic insurance policies have some form of liability coverage, but it is rarely enough to cover all of one’s legal fees. An umbrella policy generally extends liability coverage all the way up to $1 million dollars if a lawsuit is leveled against you. This policy will cover expenses such as fees for your lawyer, court fees, fines, and compensation for the other party if you lose the case.

Antiques and Collectibles Insurance

As soon as you purchase a unique or expensive item, you should speak with your insurance provider to see if it is covered. In most cases, high-end items such as jewelry, antiques, and guns are not covered by basic policies for your home or car. Antiques and collectibles insurance will either cover the full value of the item or the cost to restore it.

Insurance is a financial product that everyone is going to rely on at some point. By filling the gaps in your coverage, you can be sure that your policy will be there for you and your loved ones when you need it the most.

Eileen O’Shanassy is a freelance writer and blogger based out of Flagstaff, AZ. She writes on a variety of topics and loves to research and write. She enjoys baking, biking, and kayaking. Check out her Twitter @eileenoshanassy. She recommends that if are denied by insurance in Oregon, be sure to talk to good representation.