The cost of nearly everything we own makes the need for insurance coverage critically important. It wouldn’t take much for a person to incur financial ruin if something were to happen that they had no coverage for. It’s important to understand what insurance is, how it works, and why you need it.
Medical
Medical insurance plans pay for medical expenses like health or hospital bills, surgery, and other related care. Medical insurance is an important investment because the benefits it offers are often worth more than what you pay in premiums or annual costs. The evolution of medical insurance means we have more and more choices available to us, like Medicare, Medicaid, private insurance, and the Affordable Care Act. Most Americans carry some form of medical insurance and, in fact, it is now mandated by federal law in the US. While many people are covered by their employer, freelancers, those who work for micro-businesses, and students need to look for policies on their own.
Hospital expenses have increased dramatically due to the complexity of caring for patients with COVID-19, supply chain and labor shortages, contract temporary labor, and acquisition of personal protective equipment. That’s why medical insurance offers protection from unforeseen events that might leave you struggling to pay for care in the future.
While young people tend to think they’ll be ok without coverage, with the high cost of medical care in the US, even a small emergency can wipe out someone’s savings.
Business
Different insurance policies offer different benefits and can save your business in an emergency.
The following are some of the benefits of different types of insurance policies available.
Property Insurance- This is a policy that helps cover property, such as buildings or machinery, in case they are damaged or destroyed by something, such as a natural disaster or theft.
General Liability Policy - A general liability policy is needed by businesses that have employees, customers, or third parties on the premises.
Workers' Compensation Policy - This policy helps protect you from any liabilities related to injuries sustained by your employees while they're at work.
Home Based Business Policy - Insurance for an LLC, corporation or other business type run out of your home is important.
Homeowners
Homeowner’s insurance can protect your home and property from any unforeseen events such as natural disasters. When you take out a policy, the goal is to make sure that your home and its contents are secured. The best coverage for homeowner’s insurance comes in the form of a package that offers protection against many kinds of hazards and events.
When you have homeowner's insurance in place, you’ll be protected in case of any injury or damage to your property caused by fire, water leaks, and acts of nature.
Homeowner's insurance can also protect you from bodily injury and property damage. This includes medical expenses, property damage, disability coverage, and lost wages. There are two basic types of homeowner's policies - standard and comprehensive. Ask a professional what sort of policy is best for you.
Recreational
RV and boat insurance is a way to protect yourself from having to pay for repairs or losses that happen while on the road or in the water.
Motor boats don’t come cheap, usually starting out in the thousands of dollars. If you’ve set aside some money for a boat, you’ll want to make it a worthwhile investment. That means protecting your vessel from damage, losses, and other hazards.
If you don’t have insurance on the boat, you put yourself at considerable financial risk. Should a damaging event occur, you might have to pay for the losses. No one wants to do that.
When you’re ready to purchase insurance for your boat, RV, aircraft, home, or auto, contact Casey Insurance Group.
Insurance can help you live life with fewer worries, knowing you’ll receive financial assistance after a disaster or accident. Make sure you, your family, and your property are covered. You’ll be glad you did.