We are all extra careful and a bit on our toes when it comes to our finances, especially when it is about losing our money or bearing a loss of an object or thing that we have invested our hard money into. To prevent any such financial losses, we get our things and life insured.
Insurance policies are important as we can’t inhibit unfortunate incidents from occurring, but we can secure ourselves financially against them. To save ourselves from financial loss, we take different types of insurances. While there are a few insurances that we take on our own, there are a few that we get from our company or the organization we work for. So how do you categorize these insurances?
Here’s how- Insurance that we take ourselves for our life, health issues, vehicle or appliances is categorized as personal insurance. In contrast, insurance that we get as a benefit of being an employee to a company that takes care of their employees' welfare is categorized as commercial insurance. Commercial insurance also includes securing the office property.
But you definitely can’t get everything insured because it also comes with a rate card. So, for you to plan it wisely and more thoughtfully, we are shedding some light on insurances as a whole. To get a better understanding of this, we are noting down some important information below. Give it a read to wrap your head around this.
Personal Insurance
Personal insurance defines the kind of insurance we take to protect our loved ones and ourselves in case any unfortunate event takes place. Want to get an insurance cover already? Contact the best insurance companies in Louisiana. To secure your future and be self-dependent for life, you can take several insurances. We are going to discuss some of these:
1. Health Insurance
The weather may be forecast but not your illnesses. Take an advanced action and get your health insured. You might wonder why it is important? In today’s times where everything is getting expensive, maintaining good health through some medical help can actually cost you an arm and a leg. To avoid a lot of expenses, make sure you get your health insured so that if you ever fall ill you will have a medical cover to support your expenses.
2. Auto Insurance
You’d mention your car if talking about assets that you have invested a good sum of money and the thought of it getting destroyed might sweep your feet off the ground, right? Get insured and prevent this! Road accidents are common and you disturbing your expenses for that is a nightmare. Auto insurance will help you protect your vehicle from any damage that a mishap caused to it.
3. Life Insurance
There is enough awareness about this one and it’s a universal truth that we will all die one day and the ones who are dependent on us for financial needs should not suffer after us. To make them financially secured after you take a life insurance cover if you haven’t yet.
4. Disability Insurance
Most of us do not consider this type of insurance as we all think that is protected from every unfortunate accident but life is unpredictable, my dear friend. Accidents can happen in a blink of an eye and leave you struggling for your daily bread by making you crippled. To get yourself insured against that, take the disability insurance today.
To get assistance on any of the insurances mentioned above, contact the best insurance companies in Louisiana.
Commercial Insurance
Contrary to personal insurance, commercial insurance is entitled to industry people, businessmen and those who provide employment. Wondering what do they need insurances for? Take a quick look at the points below to find out.
There are basically two broad categories of commercial insurance-
1. Property Insurance
This type of insurance cover includes financial losses against the damage to the physical property of the office. There are incidents like fire accidents in the office building or natural calamities like an earthquake can cause major loss to the building but getting the property insured, you can assure that you will get the money back. There are other sub insurances cover that comes under this category; they are- Builder’s risk insurance, Debris removal insurance, Fidelity bonds, Crime insurance, Law insurance, Tenant’s insurance, Inland marine insurance, Business interruption insurance, Glass insurance and machinery insurance.
2. Liability Insurance
If you are one of those who employ people to work under you, then there is a high chance that you’d require this insurance. This insurance covers the damage done to the third person. For instance, if there is a sudden fire breakout in the company and your employees got harmed, then you’d be responsible for their health expenses and that’s when you can prevent bearing this cost by taking a liability insurance cover.
Ensure You Have Insurance
Still wondering if you should take personal or commercial insurance, think no more and contact the best insurance companies in Louisiana.