1. Things to Know about Insurance By: Alex Blecker

2. What types of insurance do people need? Most people just need insurance that covers their possessions, life, health, and finance.

3. How important is homeowner’s insurance? Very, since a home is one of, if not the biggest purchase you will ever make. Since your house I very important you don’t want to be cheap with homeowner’s insurance. House expenses can be very expensive and no insurance could cost you in the long run.

4. Once I have guaranteed replacement coverage for my home, I'm all set, right? Maybe or maybe not. Some items are excluded from the policy such as pricy items like big TVs or antiques. It matters the policy you have and what the insurance company covers.

5. Do I need special insurance for an home office? Yes, home offices have many items that ere not covered in the homeowner’s insurance policy. What you need to do is get separate insurance for your office to cover the excluded items.

6. What does homeowner’s insurance cover? Well if someone was to slip and fall on your property the insurance may not cover that. For that reason you may want additional liability insurance which could cover around 1 million dollars for a cheap price.

7. Do I need car insurance? Yes, every state requires some sort of insurance for drivers. In the incident of an accident you would be in extreme debt without it.

8. Why is auto insurance so expensive? It cost so much due to liability insurance. You need minimum insurance of at least 100k per person. To make it more affordable consider raising your deductible.

9. Do I need life insurance? Life insurance is optional if you are not supporting an family or someone else who depends on your income. It is mainly to protect people who you support if something happens to you.

10. How much life insurance do I need? To figure this out search a “Life Insurance Needs Investigator”

11. What kind of life insurance do I need? Term life insurance is the basic one for most people. It is not only the simple one but also the cheapest.

12. So you should never buy anything but term life insurance? No, there are other policies that are good for planning to die soon so you can give your money to your relatives debt free.

13. Do I need health insurance? No you don’t need health insurance like the 40 million Americans that don’t have it either. Most employers provide health insurance for you anyways with reasonable rates.

14. COBRA? COBRA stands for Consolidated Omnibus Budget Reconciliation Act. This allows you to go under your former employees health insurance for 18 months.

15. What does health insurance cover? If you are sick it only covers your medical bills not lost revenue. You are out for a long time consider getting disability insurance. Some employers offer that but many don’t.

16. Do I need long-term care insurance? Maybe, this pays for nursing and other things you may need when you are older. The only problem is the expenses is very high to pay for this when your older.