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12/29/15 We open again.

06/03/08 Hiv and Insurance article added.

03/18/08 Wind and Hail Insurance information added.

Insurance Coverage at a Glance


The number of people who claim that insurance is something you cannot take a step outside without seem to be equal to the number of people who disregard the opportunities insurance offers and call it a mere waste of money. On the surface, insurance is something you can do without unless or until you have something to lose. Come to think of it, how many of us don't? Thus, the question is not whether to insure or not, but rather what insurance company and policy to choose.

In the situation of loss, you get reimbursement from your insurance company and thank yourself for being wise enough to have purchased insurance. In other words, insurance is there for you to provide financial support to cover your medical, social, personal or other services you might need in case the worst has happened.

Insurance allows for protection against possible risks to your life, health, property, etc and compensation for the effects of the insured event. Life, Health, Business, Property, Auto, Travel are some of the aspects in our daily life most people feel the need for insuring. Insurance is not only about costly premiums and your hope that nothing you insured yourself against will ever come your way. It is mostly about your insurance company striving to actually minimize the risks, following the legal contract with certain conditions both you and your insurance company agree upon.

The notion of insurance is based on the principle of insurable interest, which means that you are entitled to insure any event (article) only under condition that you find a financial interest in the event (article) insured. It is vitally important that you make your own research into insurance coverage, insurance plan, insurance policy and its types, and grasp how it works, as well as what can and what cannot be covered by your insurance.

Types of Insurance

Life Insurance
Health Insurance
Dental Insurance
Property Insurance
Car Insurance
Travel Insurance

Life Insurance

No matter whether you belong to an optimistic or pessimistic lot, life tends to answer both expectations. One of our biggest worries in life is the well-being of our loved ones. Life insurance is a guarantee that if the day comes when you can no longer care for the people you love, they will still be supported financially and taken care of.

Life insurance (life assurance) is a certain contract between you (the insurance policy owner) and the insurer, according to which the policy owner is paid a reimbursement in case the insured event occurs (i.e. the policy owner's death). You, as the policy owner, agree to pay a fixed premium on a regular basis. Life insurance deals with such insured events as death and accidental death, excluding suicide, war and some other factors from the insurer's liability.

Whether you are single, married, a single parent, a stay-at-home parent, a business owner with self-supporting children, retired, or fall under some other category, life insurance applies to all situations and should be seriously considered to fit into your long-term plans and budget.

Health Insurance

Health belongs to indisputable values. No one wants to get sick as no one wants to get into trouble being unable to afford expensive medical treatment when required. Health is as costly as valuable at all times, and especially nowadays. Along with proper diet, exercise, peace of mind and preventive care, health insurance is a wise and necessary investment into your health.

Health insurance is an agreement between you and your insurance company (a government agency or a private organization), according to which the insurer pays medical benefits that are referred to covered services in case you, as an insured person, become sick or accidentally injured. Your health insurance policy lists medical services that are covered as well as services that are not covered and which you will have to pay for.

It is important to choose the most suitable health insurance plan. Private Health Plans are usually offered at work by your employers. Medicaid is a health care plan funded by government for families and individuals with low income. Medicare is another government funded health insurance plan offered for people aged over 65. Health insurance coverage pays for routine visits to your doctor, lab tests and other not very expensive stuff; however the major reason why you should be covered by health insurance is to get protection against enormous expenses of potential illness or injury.

Dental Insurance

A happy smile showing good disposition and healthy teeth is characteristic of success and vitality. There is no use promoting regular dental care and visits to the dentist. We are all aware of their necessity and high dentistry costs. Dental insurance covers the costs of routine dental care along with accidental damage to your teeth.

Dental insurance normally pays for general treatment such as dentures and crowns, root canal work, bridges, as well as emergency treatment. Cosmetic work, implants and braces are usually excluded. Dental insurance means discounts on dentistry costs, selecting a dentist you trust, fast and easy approval process and other benefits that are so helpful and comforting when you are at the dentist's.

Car Insurance

In most states, it is illegal to drive without car insurance. Thus if you are a car owner, automobile insurance is a must. The right kind of car insurance is any driver's second thought, the first logically being the safety of their car. Car insurance makes such driver's nightmares as road accidents and car-jacking not so desperate.

Car insurance is a contract between you and your insurance company, in which you agree to pay the premium, while the insurance company agrees to reimburse your loss as it is stated in your insurance policy. The insurance policy provides different kinds of coverage.

Bodily Injury Liability is applied to injuries caused to someone in an accident by the policyholder. If you are involved in a serious accident, you will need good liability insurance in case you are sued for a large sum of money.

Medical Payments coverage pays for injuries the policyholder and his passengers can get in a car accident.

Property Damage Liability pays for damage you can cause to another driver's car. It can also include damage to other objects of property your car might hit, for instance fences, telephone booths, lamp posts, etc.

Collision Coverage pays for damage to the policyholder's car, which may result from a collision. It should be noted that even if you are to blame for the collision, the costs of repairing your car will be reimbursed to you.

Comprehensive Coverage will pay you for the loss due to damage by fire, explosion, vandalism, flood, contact with animals or theft. In other words, comprehensive coverage presupposes reimbursement for damage caused by forces other than another car or object.

Uninsured and Underinsured Motorist Coverage reimburses you in case you are hit by an uninsured or hit-and-run driver and will also be helpful if you are hit as a pedestrian.

Property Insurance

It is impossible to foresee the disasters, but it is possible to be prepared and protected. Property insurance does not prevent risks of fire breaking out in your house or your office burglarized, but it allows for sure recovery from any disaster outlined in your insurance policy.

Property insurance protects you against such risks as fire, storms, flood, earthquakes, other weather damage and theft. Consequently, we speak about specialized insurance forms covering you for different causes: fire insurance, home insurance, boiler insurance, earthquake insurance or flood insurance. Property insurance covers the costs of repairing damaged property or replacing the property you lost.

There are two major ways to insure property: open perils and named perils. Open perils are meant to cover all possible causes of loss. Common exclusions are war, terrorism, floods, earthquakes and nuclear incidents. In its turn, named perils cover a specific cause of loss listed in the insurance policy, commonly it is such events as fire, explosion and theft.

Travel Insurance

Traveling is one of the greatest pleasures of life, which makes it long-awaited and expensive. The more is the pity when things go wrong before or during your vacation. Besides your personal reasons you might suddenly need to cancel or postpone your travel plans, there are such things as trip delays, cancellations, interruptions, lost luggage, luggage damage, emergencies, travel agency bankruptcy, etc.

Travel insurance covers you for these unwanted challenges and provides reimbursement of the sum you invested in your vacation. For those who plan driving during their vacation, Car Rental Insurance may be very helpful, as your own Auto Insurance may not cover you in another country. No matter if it is your trip, your possessions, your luggage, or your health, the right travel insurance plan will save you money and nerve, and give you a chance to enjoy one of those greatest pleasures of life to the fullest.

Choosing an Insurance Company

When you know exactly what your insurance needs are, you should select a company which suits your needs best. It is a common mistake to regard an insurance company as a flourishing business with no direct control over the factors they claim payments for. The insurance industry supports programs reducing losses, preventing injuries and saving lives in order to hold down the costs.

Selecting the most suitable insurance agent or company for you, consider their experience with the particular insurance event you are concerned with, as well as their professionalism and stability. An agent or company representative should be able to provide you with a careful assessment of your insurance needs, and give you a selection of insurance products to meet your needs. Undoubtedly, an insurance agency or company you choose should guarantee advice, information and quality service in the case of loss occurrence.