You can’t predict when a random disaster or tragedy could affect you or someone in your family. When this happens, you need insurance to make sure the disaster doesn’t take away more than it already has.

That said, paying a sizable fee every so often to the insurance company to help cover you in an event that may not ever come to pass can feel like a waste of money for some people. So how can you tell which insurance is the most important for you and your family?

Well, you’re in luck. We’re here to give you the most essential insurance policies! So without further ado, let’s begin.

1. Essential Insurance Starts With Medical Insurance

Though medical insurance often ranges in the more expensive types of insurance, skipping out on said insurance will prove even more costly. A recent study showed that 66.5% of people who declared bankruptcy did so due to medical bills and expenses they could not afford.

On the bright side, the government has taken measures like the Affordable Care Act to help make healthcare more accessible and many employers will offer it as a bonus of your employment. Plus, those over 65 can go to sites like medicarewire.com to purchase Medicare insurance, which gives seniors perks like enjoying medical care from the safety of their own home.

Dental Care

Dental care is not covered in basic medical insurance plans, so you’ll need to get it separately. Employers offer it too, but you could also get an individual plan that gives you insurance with a single dentist or takes a small chunk out of the price of every visit.

2. Car Insurance

The main reason to get car insurance is that if you drive without it and get caught, you’ll have to pay sizable fees and could also get your license revoked. Besides that, car insurance helps you pay off debts that come from unforeseen accidents rather than pay out of pocket.

Another nice feature of this insurance is that you can customize it to the type that works for you. You could get only what you need (like liability coverage) or expand out and protect your car from other things (like comprehensive coverage to counter vandalism and weather damage).

3. Homeowners or Renters Insurance

Don’t want to get stuck without a place to stay after a random fire or earthquake demolishes your home? Then you need homeowner’s insurance (or renter’s insurance to protect your belongings if they get destroyed in a rented location like an apartment).

Different policies will cover different things, so make sure you know exactly what your policy covers so you’re not caught by surprise when your insurance company refuses to pay you for a freak flood because it wasn’t in your deal. You can also get extended dwelling coverage to recoup more than you would under normal coverage.

4. Life Insurance

If you are the primary breadwinner for your family, life insurance cannot be skipped over. Otherwise, if something were to happen to you, the other members of your family would be left stranded financially. If you have no dependents, you can still get a small life insurance policy to help cover your burial costs.

Shields Up

So now that you know the different types of essential insurance you need to have, you can live your life less afraid of the random dangers that could strike!