5 Types of Insurance to Consider for Your Wellbeing

Life is full of unexpected scenarios that can’t always be avoided, but there is a way to prepare for them: insurance! Insurance doesn’t just exist to protect our homes, cars, and health; there are many other ways that we can brace for whatever life throws at us.

1. Pet Insurance

Even though most people have health insurance, most pets do not. Yet worldwide, the cost of animal health care is high. Unfortunately, with the combination of short lifespans of cats, dogs, and other common household pets, and the skyrocketing veterinarian costs, many owners resort to crowdfunding or making a tough choice to put down a pet rather than go into debt.

Pet insurance exists to make it easier for owners to afford any unexpected procedures and even some routine checkups. Many types of pet insurances exist, and depending on where you are in the world, some employers may even offer it as a work benefit. Prices for pet insurance range depending on the company you pick and your pet’s age. 

The older your pet is, the more expensive it will become, and similarly to life insurance, it is best to get it early on for the best deals. When shopping for pet insurance, make sure to compare the different options that are available to you. If you have a preferred vet, try asking them what they accept and recommend.

2. Travel Insurance

It can be easy to get distracted with the fun stuff and forget about insurance when planning a trip. However, many people have horror stories of getting sick, injured, or being in a situation where travel insurance would have saved the day. Although worst-case scenarios can be a downer when planning your next getaway, you should definitely consider getting some travel insurance.

Travel insurance comes in various shapes and forms. Some cover hospital visits abroad, others protect you during high-risk activities, and general trip protection insurance if you miss a flight, get delayed, or lose your luggage. Travel insurance is a lot cheaper than most people expect, and it can save you from a financial headache. You can read more about travel insurance here.

3. Renters Insurance

Getting homeowners insurance is a no-brainer and is required by many lenders if you are getting a mortgage. However, renters don’t generally consider insurance on their rented homes. Even if your landlord has insurance, it will only cover the building itself. Renters insurance can protect your belongings and more. 

You may think that you don’t have too many valuable items, but even just your entire wardrobe costs a pretty penny. If you had to replace everything in your home in case of a fire or flood, the expense would not be insignificant. Just like travel insurance, renters insurance is surprisingly affordable, and you can shop around to find one perfect for you.

Another reason to get renters insurance is liability, especially in the USA. If someone gets hurt in your home, they may be able to sue you rather than the homeowner. Finally, renters insurance may even help in a situation where you are unexpectedly unable to live in your rental. It may cover living costs, including hotel fees, food, and more!

4. Electronics and Appliance Insurance

These days most people possess a lot of electronics that likely cost a lot of money. No matter how modern your device, it can break, be stolen, or get lost. Luckily, there is insurance that can help with that too! Upsie is an example of a company that insures your electronics and home appliances. It isn’t overly expensive and is invaluable in an emergency.

Before considering third-party insurance, do some research to see if the manufacturer of your device or appliance offers their own insurance. Sometimes you can only get this within a certain amount of time after purchase, but it is worth asking because they are likely to have the best deals. Apple Care and DJI Care are excellent examples, but the insurance must be purchased almost immediately after you buy the device.

5. Wedding Insurance

Weddings have only gotten grander, and while many couples choose to escape the madness by eloping, others go through with the traditional shebang. However, weddings can cost a lot of money, and as many unfortunate people realized in 2020, a canceled wedding can mean a significant financial loss. There is even special insurance if one of the parties gets cold feet and changes their mind.

Wedding insurance can help if the wedding is canceled due to a natural disaster or personal tragedy. It can also help with liability if anyone gets hurt, drinks too much, and various other scenarios. It is impossible to have a stress-free wedding, but wedding insurance can at least help you experience some peace of mind during this happy yet crazy time of your life.

Summary

There is insurance for almost any occasion, and it should be something that we take seriously and consider investing in. Alien abduction insurance, food truck insurance, lottery insurance, multiple birth insurance, and many other seemingly strange insurances exist. As with any purchases, some insurances may be better than others, so always shop around and take the time to make the right choice that is best for your situation and budget.

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