Insurance is a necessary evil. From theft and renters insurance to homeowners and health insurance, it’s something we all need in one form or another. Most if not all of us cringe as we see the money come out of our accounts each month to cover the “what ifs” in life, but the truth is, when a “what if” comes to fruition you’ll be so glad you did. While some insurance plans are simply givens, there are other types that aren’t quite as mainstream—but could play a crucial role in your finances.
If you’ve always amazed yourself and others with your healthy habits in your life and have thus convinced yourself you don’t need to cover your bases, you might have foregone the idea of life insurance. This is a risky move but, fortunately for you, there is a unique alternative to life insurance. A burial insurance company can provide you with funeral insurance, which is ideal for those who have still not purchased life insurance by the time they are later in life, but still don’t want to leave the financial burden of the funeral costs behind for their loved ones to struggle with.
Identity Theft Insurance
This isn’t quite as unique as it used to be as, unfortunately, identity theft is becoming more and more common. And all you have to do is turn on the news to see how organizations like WikiLeaks are proving that hacking is all too real. In order to keep yourself from facing a mountain of debt, you need to protect yourself from this. While each policy likely has minor differences between them, they typically include reimbursement up to the sum insured limits for expenses incurred to restore your identity. This includes legal expenses and the obligation to pay a third party along with any charges that were unauthorized on your debit or credit card. It will also typically cover miscellaneous expenses like the cost of notarizing documents, getting credit reports, and refilling the application for banking or credit accounts.
Going to the chapel, and we’re gonna get ma-aa-aaried. If you’re getting married yourself or paying for the wedding celebrations for your child, you’ve likely realized the costs can skyrocket. Of course, there’s very little chance that the wedding won’t go off without a hitch but, at the same time, when you think about the enormous amount of money you’re plunking down for the big day, it’s best to have yourself insured in case of a death in the family or other extenuating circumstances. At right around $500 (a drop in the bucket all things considered!), you should know that it won’t cover things like a severe rainstorm, so just make sure to read the fine print.
This is a tough one, as the opinions on whether you should get this or not vary as much as this year’s election (groan). Because it’s a relatively new industry, there aren’t many “typical” pet insurance policies, so it’s very important to do your due diligence when considering whether to get this for your furry friends.
If you’ve ever been hit by a hefty vet bill for Fido, you know that this is at least something to consider. In fact, Bark.com has noted, “On average, dog owners spend $248 and cat owners, $219 per year on routine vet visits.” This isn’t all that bad at all but it’s the emergencies that will get you. As the article goes on to note, “Even the average cost of a typical corrective surgical procedure, for dogs in this case, are enough to give one pause: gastric torsion (bloat), $1,995; foreign-body ingestion (small intestine), $1,629…” The list goes on and only gets more depressing. That funny story about Sadie eating that sock loses its luster real fast. If you’re considering pet insurance, just as with all insurance, comparison shop. You can do that with a site like PetInsuranceReview.com. And as with humans, prevention can go a long way, so feed your pets healthy food and make sure they get a lot of exercise. If you do decide pet insurance isn’t for you, make sure you have extra money for the emergencies before committing to your pooch, pussycat, and more.
When it comes to insurance, it goes well beyond just homeowners and health insurance. Consider these unique insurance plans avoid those “what if” scenarios we all dread.