You can find an insurance policy to cover almost anything imaginable but only a handful of policies are actually ones that you need to have. You work hard throughout your life to build wealth and live a happy and comfortable life, so some types of insurance can protect your possessions, income and even provide for a loved one when you are gone.

If you take Health Insurance, One of the most important types of insurance to have is health insurance. Your good health is what allows you to work and earn money and otherwise enjoy life. If you were to come down with a sickness or have an accident without health insurance you may find yourself unable to receive treatment or even in debt to the hospital. If your employer does not offer health insurance or you are self-employed you still need it. While it may not be cheap the fact remains; what do you have if you dont have your health? Even a basic hospital bill without insurance can run into the thousands of dollars. It isnt worth risking financial ruin to save a few bucks on a health insurance premium.

Another type of insurance is Life Insurance; this type of policy is more important if you are married and/or have children. Your life is valuable because it is what allows you to work and earn an income to provide for your family. When you are gone you create an income gap which could put your spouse or children in financial trouble.

If you do not currently have life insurance your best bet is to check with your employer first. Many employers offer a basic life insurance as a benefit and some even allow you to purchase additional coverage at a very affordable rate. Outside of employer plans there are hundreds of insurance companies that can provide the right coverage for you.

Another one is vehicle Insurance. This type of policy that is often required is vehicle insurance. Most states require by law that you have basic auto insurance. While it may be a law, too many people still drive around without it. The most common reason to have vehicle insurance is to cover the replacement of an expensive asset. Like a home, automobiles can be quite expensive and if it gets damaged you want to be able to repair or replace it. But there is more to auto insurance than just covering the car itself.