GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’ve got the option to read more about oureditorial guidelinesand our products and servicesreview methodology.
However, deciding which policies you really need can be tricky.
Here are five types of insurance to consider that canhelp cushion the blow when life knocks you down.
Even with out-of-pocket expenses, having health insurance dramatically reduces the financial impact of healthcare costs.
Check the policys flexibility, such as the ability to convert or customize coverage later.
The average cost for renters insurance is about $214 per year, according toQuoteWizard.
New Hampshire is the only state that does not mandate car insurance.
For those who drive, auto insurance isnt just a legal requirement its a financial necessity, said Shirshikov.
Car insurance averages about $172 per month in the U.S., according toU.S.
News & World Report.
This can be critical for preserving your savings and providing quality care in later life.
Here are a few factors to keep in mind.
Coverage Amount
Shirshikov said to ensure that the coverage amount is sufficient to meet your needs.
For disability insurance, look for a policy that covers at least 60% of your income.
Choose the one that aligns with your risk tolerance and financial situation.
Cost vs. ## Insurance Provider
Not all insurance providers are equal.
Shirshikov recommended considering each companys reputation and financial stability.
Research the providers ratings and reviews, and consider their customer service quality, as well.
For example, a life insurance policy might offer a rider that provides coverage for critical illnesses.
Customizing your policy can provide peace of mind that youre fully covered.
For our full Privacy Policy,click here.
