It wouldn't be easy to find a suitable place to live on your new budget, which now includes a rental payment in addition to the old mortgage payment. Most of us can't afford to do this, that's why we purchase insurance. Types of Insurance Property Insurance covers the risk of property loss in a variety of personal and commercial situations. It protects private homes and their contents, commercial buildings, equipment, furniture, business records, supplies and other physical items. Casualty Insurance is made up primarily of liability coverages, which protect an insured against injury or damage claims made by other parties.
Legal liability arises through negligence, or the operation of law or due to contract obligations.
Automobile insurance, general liability insurance and workers compensation are examples of liability insurance. Life Insurance and Annuities help provide economic security for survivors when someone dies. Life insurance is often used to pay funeral costs and debts. It is available on an individual and a group basis. Annuity contracts guarantee to make payments to a certain party for a specific period of time or for life.