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5 Types of Insurance that You Must Own

Types of Insurance that You Must own

5 Types of Insurance that You Must Own

Insurance is an investment that everyone needs to have.  Because insurance has an essential function and can minimize the harmful risks that can occur at any time, you can further minimize your expenses and ease your life's burdens by registering for insurance.

5 Types of Insurance that You Must Own

1. Health Insurance

Health insurance is the insurance most widely used by Indonesians. This insurance is mandatory for you. With health insurance, the insured will get health insurance if they experience an incident such as injury, illness, disability, and even death due to an accident. Although none of us want to share it, we also know what the incident must bear impact.

So, the choice to use health insurance becomes a particular concern for the community to anticipate these unpredictable adverse things. Insurance service providers will cover the health needs of each policyholder, such as hospitalization and operating costs. A third person can also purchase this type of health insurance.

2. Life Insurance

Life insurance aims to provide financial protection if the insured party dies. Therefore, this insurance is mandatory to own. However, some insurance service providers return the insured party's funds before his death, and most others provide funds after the insured's death.

You can also register life insurance for a third person, and life insurance is one of the most important types of insurance because it will guarantee the insured party's family's life after the insured person dies.

3. Home Insurance

Residential house insurance aims to protect homeowners against all losses associated with their residence. Losses can include fire, damage, floods, or other natural disasters that occur on the insured party's property. The insurance company will compensate you with money that You can use to rebuild the house.

4. Vehicle Insurance

Vehicle insurance protects against injury or damage to other people's vehicles caused by the insured party's vehicle. Vehicle insurance will also compensate for losses due to damage or loss of the insured party's vehicle.

Types of vehicle insurance are divided into two, namely protection for loss only or all risks. Usually, motor vehicle insurance is only for loss, and all risk protection applies only to cars.

5. Travel Insurance

Travel insurance is arguably short-term insurance that applies when the insured party is traveling. The insured party will get protection from travel insurance in the event of an accident while traveling, and this type of insurance will cover the cost of emergency medical care.

Not only applies to accidents, the risk of damaged or lost goods belonging to the insured party will also get loss protection from the insurance service provider. Therefore, you must have this insurance.

Well, after reading the types of insurance that You must own above, hopefully, you already understand which ones should be prioritized, okay?