Insurance companies have created some insurance plans that you may never need.
For example, change of heart insurance protects you in case you get left at the altar by the person you thought would love you forever while alien invasion insurance protects you if you are kidnapped by aliens to be their next scientific project.
On the other hand, there are some types of insurance that you definitely need to consider.
Long-term Care Insurance
As you get older, then you may discover that you need help with daily living skills such as bathing, grooming, and dressing.
This insurance is designed to pay you a daily amount so that you can pay someone to help you with those activities at home, in the community or in a long-term care facility.
When buying these policies, watch for policies that will increase benefits based on inflation.
If you have to put your stuff in a self-storage facility after a disaster, then you should research what self-storage insurance covers.
This insurance acts a lot like renters insurance except it protects your possessions from damage while in storage.
It covers the gap between homeowners or renters insurance regarding coverage of items outside of the home.
Personal Umbrella Insurance
This insurance is designed to cover your liability above the terms offered on homes, boats, and cars.
It may also cover you if someone chooses to sue you in court.
An umbrella policy may also cover you if your other insurance refuses to pay for some reason.
If you own rental property, then this insurance may pay if someone gets hurt on your rental property.
Almost 20 percent of all flood insurance claims come from areas considered moderate to low risk.
In many cases, regular homeowners insurance will not cover damage from floods.
This policy works in over 18,000 communities in the United States as authorized by the Federal Emergency Management Agency to cover damages caused by high water.
Take a look at these types of insurance and decide which ones are right for you.
Some people may discover that they need all four to protect themselves in case of a catastrophe.
Be sure to take action before it is too late.
Now you’ve learned something new about some more obscure insurances. If you liked this, we have many great articles about fun facts and new things to learn. Check out our ebook options to get your Smartenings fix today!Add to favorites