What Type of Insurance Cover is Best for You? A Comprehensive Guide

When it comes to insurance, there are four types that most financial experts recommend: life insurance, health insurance, auto insurance and long-term disability insurance. Life insurance is designed to provide financial protection for your family in the event of your death. Health insurance policies are available to cover cancer, heart disease, and other illnesses. Instead of trying to identify all the possible diseases you might encounter, take out a good health coverage policy.

This way, your medical bills will be covered regardless of the problem you're facing. The best type of car insurance is a full-coverage policy from one of the major auto insurers, such as Geico, Progressive, or USAA. With full coverage, any damage to your vehicle will be covered, along with your liability for damage to other people's property or medical bills if you cause an accident. Medical expenses for you and your passengers may also be covered if your state requires personal injury protection coverage or medical payments.

For more information, see WalletHub's guide to full-coverage car insurance and compare the cheapest full-coverage auto insurance companies. However, if you can afford it, it's usually a good idea to have liability insurance that exceeds your state's minimum liability coverage requirements, as it will provide you with additional protection if you are found guilty of an accident, since you are responsible for any claim that exceeds the maximum limit of your coverage. Full coverage insurance often consists of collision insurance, comprehensive insurance, and at least the minimum coverage required by state law. Employer coverage is often the best option, but if it's not available, ask for quotes from several providers, as many offer discounts if you buy more than one type of coverage.

Therefore, if someone is legally responsible for damages related to an accident and they don't have coverage or their damages exceed the amount of coverage they have, they won't receive any payment or they'll receive less than what they need to cover the cost of the damages. The costs of full-coverage insurance can vary greatly depending on the state and the car you drive since types of coverage such as collision and comprehensive coverage are based on the actual cash value of the car. While sole liability policies only have liability insurance for bodily injury and property damage, full coverage includes comprehensive and collision insurance in addition to the minimum state coverage. So if you want to make sure that you're fully protected in case of an accident or other incident that causes damage to your vehicle or someone else's property or medical bills, then full-coverage car insurance is the way to go.

Jenny Kizzia
Jenny Kizzia

Professional food ninja. Proud coffee expert. Friendly pop culture guru. Certified beer buff. Beer scholar.