5 Types of Insurance You May Not Be Familiar With - Newslibre

5 Types of Insurance You May Not Know That Are Very Important

Insurance should be taken very seriously because you can quickly find yourself in a bind without it. Of course, it isn’t easy to find insurance companies that offer the type of coverage you need – especially for individuals with certain conditions.

For instance, if you’re autistic, have an intellectual disability, and are looking for insurance coverage for your autism care needs, then these types of insurers might not be a good fit. Here we’ll discuss five types of insurance that you may not be familiar with but should seriously consider for your health and well-being.

1. Life Insurance

If you’re not familiar with life insurance, it’s essential to understand how it works. Essentially, life insurance premiums ensure the beneficiary of your death in an unexpected event. For example, let’s say that you pay $100 a month for life insurance coverage for your spouse.

If something terrible happened to your spouse and she died unexpectedly within the first year of being covered, you’d receive money that would have been paid out from the policy. Life insurance aims to ensure that your spouse and other loved ones are taken care of financially in case the worst happens.

2. Long-Term Disability Insurance

If your disability is permanent, you’ll be able to receive benefits through long-term disability insurance. Whereas life insurance can often be a surprise financial burden because it’s tied to an event, long-term disability insurance is something that you can count on.

For example, let’s say you use a wheelchair for your entire life and are diagnosed with cancer in your left lung. When this happens, you’re covered by the long-term disability insurance on your policy. If you have a fully funded emergency fund and disability insurance, you’ll be able to handle your cancer treatment and other medical costs.

3. Renters Insurance

You can never be too careful when securing your rental property. And while you may have a complex security system, renters’ insurance is also critical to have on your policy. If your house is damaged by a fire, a tornado, or other natural disaster, renters’ insurance can help cover the costs of repairing or replacing the items in your home. Renter’s insurance is also great if something was stolen inside your home while you’re away on vacation.

It would help if you considered renters insurance to protect your personal property. Because it’s often challenging to secure high-risk coverage, you must understand that you could be covered up to $2,500 per person, $3,000 per accident, and $1,000 per pet if your home is damaged. This can be a significant financial burden if your home is destroyed in an earthquake or flood – but the insurance will cover these unexpected expenses.

4. Homeowners Insurance

Homeowners insurance is essential coverage. It can help protect your home and belongings from fire, burglary, vandalism, and other unexpected and inevitable risks. Homeowners insurance can also cover the cost of damage caused to your home by fallen trees and storm damage. This way, you won’t have to pay for any unexpected expenses that could arise during a natural disaster.

If you own a home, you should consider additional homeowners insurance coverage. This type of insurance is typically sold as part of your property or liability policy. What it covers is up to the homeowner, with coverages likely including damage caused by break-ins or fire, liability for injuring someone in your home, and coverage for accidental damage. Homeowners’ insurance can often be confusing because it differs depending on the homeowner’s age.

5. Long-Term Care Insurance

Long-term care insurance can cover the cost of providing your nursing home or assisted living costs if you cannot take care of yourself due to a medical condition or accident. Additionally, it can help you pay for services and treatments that Medicare or Medicaid doesn’t cover.

If you’re a senior citizen with a long history of health problems and chronic conditions, then this type of coverage might be something you need. If you live with an autism diagnosis and have an intellectual disability, you’ll need more coverage than the average individual. Colby insurance is one of those companies that specialize in this market niche and can help you find a plan that meets your needs.


If you’re an individual with an autism diagnosis and have a history of intellectual disability, you should seriously consider specific insurance coverage. Not only will these types of policies protect your family financially, but they’ll also provide peace of mind. Make sure that you get accurate advice from an insurance professional.


Also, readBest Kept Secrets On How to Save Money On Health Insurance

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Author: Hannah Boothe

Hannah Boothe is a freelance writer native to Northern California who spends her free time developing herself. Hannah enjoys the outdoors, she goes hiking whenever the weather permits and enjoys practicing yoga. She carves out time to journal and read whenever she can. She loves adventure and connecting with those around her.


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