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Three Types of Insurance You Should Have

Monday, January 10, 2022

Are you looking for ways to protect your assets against the risk of loss? Insurance coverage can be a great way for you to hedge against claims made against your assets by someone else.

With so many different types of insurance to consider, it's important to know which ones matter the most. Read on to learn about the three types of insurance you should have!

Title Insurance

There are many types of insurance coverage, but title insurance is one of the most important you can buy. Imagine buying a home from someone else and learning after closing that there is a viable claim for ownership by a third party.

Title insurance is underwritten and sold to real estate buyers to shield you from liability in that situation. A title insurer will research the chain of title on your property. This will ensure that there are no unknown interests on the land. If something arises later, your insurance policy can protect you from the claim. 

Health Insurance

There are many different types of health insurance, but the reality is you can't afford to go without one of them. There are 31.2 million people under the age of 65 without health insurance in the United States.

Preferred Provider Organization (PPO) insurance coverage tends to have higher premiums than a Health Maintenance Organization (HMO) plan. Although you pay higher costs, the PPO allows you to go in or out of your insurer's network of providers.

This means you can go see the doctor or other healthcare professional you want without being charged an out-of-network price for it. You can also avoid waiting extra time to receive a referral to a specialist. This means you will get the medical care you need faster!

Car Insurance

Car insurance can protect you from financial responsibility after an accident or other fender bender. There are more than six million automobile accidents in the United States each year.

Being in a car crash can be a life-changing event for you and your loved ones. In addition to the mental and physical toll on you after a crash, you may also be named as a defendant in a lawsuit.

Liability and property damage coverage will have policy limits to cover damages you cause up to a certain dollar amount. Your coverage levels will be based on your budget and your financial situation.

The Types of Insurance You Need Now

There are different types of insurance to protect you from many of life's most unexpected events. Before you begin shopping for a policy and applying for coverage, you should speak with a broker about your wants and needs.

At Heartland Abstract, we are your source for insurance coverage in Southeastern Pennsylvania. Since 2000, our experienced brokers and other staff have been helping Pennsylvanians protect their assets with insurance policies. 

Contact us today to learn more about our products and how we can find the best coverage for you!

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