All you need to know about your insurance

Insurance simply means a protection against risk or lost that arises from either human activities or nature occurrence. When you are afraid of uncertainty about your life, your business and properties, you can protect them against uncertainties through what is called insurance. 

How does insurance works?

This is how insurance works: for instance you own a car and you have a rough driver or you are the driver but always afraid of what happens if the car involves in a crash, your fear could be as a result of the cost of parts of your car that will be used to fix it back if it eventually crashes. When you have such fear and decided to shift the risk from your head to insurance company, you will be charged certain amount for your car so that when there is a crash of the same vehicle, the  insurance company will replace it back for you. This is what insurance means. 

There is always a fee you pay to the insurance company which is usually paid yearly, per  month, or quarterly depending on the company or country. This money you pay is always certain percentage of the cost of your property you are insuring. This monthly or quarterly or yearly amount you pay is not refundable if the risk you are protecting does not happen. In other hand, if the risk occurs even if it is when you just started paying, the insurance company will still have to meet up with the terms by replacing the insured property.


Any individual or entity can insure any property with the respective company. This depends on the fear of the individual or entity. This brings us to insurable properties or entity. The various types of insurance we have are:

  1. Life insurance 
  2. Health insurance
  3. Long-term disability coverage 
  4. Auto insurance 
  5. Home owners/renter insurance 
  6. Identity theft insurance 
  7. Umbrella policy 
  8. Flood insurance 
  9. Hurricane insurance 
  10. Earth quake insurance 
  11. Fire insurance.

Life insurance

Life is full of uncertainties; while we eat, take drugs, moves and go through different life events, we are faced with deadly happenings that have the potential of taking our lives. This triggers fear of what happens if we fall sick and can not be able to take care of our medical bills, die and yet we have certain responsibilities to carry out, etc. this is where life insurance comes in. 

Life insurance simply means when an insurer or assurer pays insurance policy holder certain amount within the insuring terms when threatened by some chronic illnesses. Life insurance also covers a situation when a relative or a specified person who is a beneficiary of a life insurance is indemnified on the death of an insurance policy holder.

Which company can I insure my life?

Bellow are list of reputable life insurance companies in the United States:

  • Northwestern Mutual
  • Globe Life
  • New York Life
  • Brighthouse Financial
  • MassMutual
  • Penn Mutual
  • Prudential
  • Protective Life
  • Lincoln Financial
  • Nationwide
  • State Farm
  • Sammons (Midland National)
  • John Hancock
  • Primerica
  • Guardian
  • Equitable Holdings (AXA)
  • Transamerica
  • American International Group (AIG)
  • MetLife
  • Pacific Life

Health insurance.

 Every one get sick, when you have health insurance against certain illnesses and you happened to be affected by any of such illness,  the insurance company pays in full or partly depending on the terms of the insurance, the hospital/medical bills involved. 

Where can I insure my health in U.S?

The companies bellow are lists of insurance bodies where you can get reliable insurance for you and your family’s health. 

  • Aetna
  • AARP
  • American Family Insurance
  • Amerigroup
  • American National Insurance Company
  • Anthem
  • CareSource
  • Blue Cross and Blue Shield Association
  • Cambia Health Solutions
  • Cigna
  • Centene Corporation
  • Coventry Health Care
  • Fortis
  • Delta Dental
  • Group Health Cooperative
  • EmblemHealth
  • Geisinger
  • Golden Rule Insurance Company
  • Group Health Incorporated
  • Healthcare Highways
  • Harvard Pilgrim Health Care
  • Health Net
  • HealthMarkets
  • HealthSpring
  • HealthPartners
  • Highmark
  • Humana
  • Horace Mann Educators Corporation
  • Independence Blue Cross
  • Kaleida Health
  • Kaiser Permanente
  • Liberty Medical
  • Medical Mutual of Ohio
  • MassHealth
  • MEGA Life and Health Insurance
  • Oscar Health
  • Molina Healthcare
  • Oxford Health Plans
  • Principal Financial Group
  • Premera Blue Cross
  • Shelter Insurance
  • Thrivent Financial for Lutherans
  • State Farm
  • UnitedHealth Group
  • Universal American Corporation
  • Unitrin
  • WellCare
  • Medicare
  • Edit
  • American Family Insurance
  • CareSource
  • Bankers Life and Casualty
  • Conseco
  • Kaiser Permanente
  • Fidelis Care
  • Mutual of Omaha
  • Thrivent Financial for Lutherans
  • Premera Blue Cross
  • Aetna
  • United American Insurance Company

Long-term disability coverage.

In our various day to day work, we encounter risks of injuries. Some of the injuries could be severe and also disables work force. Long-term disability coverage or insurance is that type of insurance that helps a worker to be indemnified if he or she get disabled from injuries during the course of carrying out duties. 

This type of insurance helps the insurance policy holder to be paid either in full or certain percentage of the normal earnings from his or her job  when he or she got injured and disabled from work. In some insurance policy terms for Long-term disability coverage, the insured person receives the benefits as long as age 65 to 70, depending on the country and policy terms. 

Where can I get Long-term disability coverage insurance?

Almost all health insurance companies gives Long-term disability insurance .

Auto Insurance 

Auto insurance is the protection against the risk of crash, lost and burnt of vehicles. In this type of insurance, the protection of the risk or lost of the vehicle could be against: 

  • Theft
  • Fire
  • Accident (road crahes) 

Auto insurance against theft

Auto insurance against theft is the protection of risk of lost of a vehicle. This means if an insured car that is covered with such terms is stolen, the owner get replacement from the insurance company. 

Auto insurance against fire

This is the protection of risk of a vehicle against fire incidents. When your vehicle that is insured against fire got burnt, you will recieve replacement from the insurance comoany if the source of the fire that engolfed your car did not result out of carelessness. Take for instance, your car is over heating because you carelessly did not check water in the radiator and this led to the burnt of your car. If the insurance comoany notice this to be as a result of your carelessness, they may end up not paying you. This is applicable to other forms of insurance.

Auto insurance against accidents

This is when a vehicle is protected against the risk of road crashes. This is to say that the owner of the vehicle that is covered by such policy will be indemnified when the car have an accident (crashes) that does not result from the carelessness of the driver. 

Where is the best to  get my Auto insurance? 

Kindly check the Forbes ratings here to see the best Auto insurance company. 

Home owners insurance 

 Home owner insurance is the type of insurance that covers a specified house and its components belonging to the landlord. In this type of insurance, the term does not covers what belongs to the tenant of the house. 

Renter insurance 

Since insurance term for home owners does not covers the belongings of the tenant, the need for insuring tenant’s properties separately arises. Renter insurance is that type of insurance that covers the properties of a tenant in a building that he or she resides. 

Difference between Home owners insurance and Renter insurance 

The only difference is that home owners insurance covers the buildings and any thing that belongs to the landlord within the house but does not cover tenant’s belongings while renters insurance only covers the belongings of the tenant in the same building.

Where can I get home owners and renters insurance?

Kindly check the list here to see the best top 10 home owners and renters insurance companies

Identity theft insurance 

Identify theft is a financial crime situation when an individual steals details of another person’s payment information to defraud or steals from the person’s account. This details could include informations on government I.Ds attached to payment gateway or platforms, ATM or credit card details, etc. The coverage of such risk or lost arising from identity theft is what is referred to as identity theft insurance. In this type of insurance called identity theft insurance, the insurer pays the full sume that is lost to the fraudulent act to the policy holder.

Umbrella policy 

Umbrella policy or umbrella insurance is that type of insurance that covers beyond the principle holder of the insurance. Example, if you have wife and children and you decided to take an umbrella insurance on health for your self, this means if your wife or children get sick and taken to the hospital, certain percentage of the medical bills for your family will be taken care by the insurance company. The good thing about umbrella policy is that it covers beyond the principle bearer of the insurance policy. 

Flood insurance 

Flood insurance is the type of insurance that covers landlords against floods in their home. This type of insurance provides covers for both the building and the properties of the house owner in the building. For instance, if you have flood insurance for your house and eventually there was heavy rain that led to the flooding of your house,  the insurance company will pay for the damages on the building and the damages of your other properties in the house.

Hurricane insurance 

A hurricane is a speedy wind that moves relatively in circle and are most times accompanied with high thunder, lightening as well as rain. Huricane always comes with alot of damages hence the reasons for huricane insurance. Jurricane insurance is like flood insurance, the only difference is that while flood insurance covers damages from flooding, hurricane insurance cocovers damages from hurricane. 

Earth quake insurance. 

When there is a movement of certain wave accross the earth caused by  a shake or high vibration  which leads to sinking of earth crust, we refer to it as ‘earthquake’. As a result of damages of lives and properties that accompanies earthquakes, people began to seek for insurance coverage against such eventuality. Haven said this, earth quake insurance is the protection against the risk or lost when there is an earthquake at specified place. 

Fire insurance.

Fire insurance is the protection against the risk or lost in fire incidents. This type of insurance is mostly taken by property owners to secure their properties against risks of fire. 

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button