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When you think about insurance, you probably don’t pay much attention to those random, one-off situations. After all, as long as you have health insurance and car insurance, theoretically, you should be fairly well covered. However, there are a few unique situations where you might find yourself wishing that you had a bit of extra coverage or an additional insurance policy.
Whether you’re trying to make sure that you have the right insurance plans for your lifestyle or you’re looking to see whether or not you can drop a certain coverage type, here’s what you need to know about situations where you might need insurance.
Renters insurance is a must.
What happens if your apartment is destroyed? While it’s up to the property owner to deal with the building expenses, you’re probably more concerned about all of your stuff. For instance, say your closet in your last apartment was packed to the brim with dresses that matched your personal style. You had different sleeves, fabrics, skirts, and flare lengths for all of your dresses and you’d worked hard, especially when you picked out petite sizes. However, due to a building fire, all of your petite sundresses, maxi dresses, and shirtdresses went up in smoke. Specifically, who pays for your damaged wardrobe?
You’d be forgiven for thinking that your landlord is responsible for your lost property or belongings. In fact, that’s a common reason why renters forego renters insurance. It’s easy to assume that as long as you didn’t cause the property damage, someone’s insurance will take care of replacing your belongings. That’s precisely why you should have renters insurance any time you’re leasing a unit, house, or other living space from someone.
So while you can’t get back your (hypothetical) skirts, maxi dresses, and wrap dresses, the right renters insurance policy can help you replace these items for their approximate value if your property is stolen, damaged, or destroyed while renting.
Travel insurance gives you peace of mind.
Vacations are supposed to be fun. However, these days, travel mishaps, COVID-19 guidelines, and other unforeseen complications make it a little frustrating if you’re trying to see the world. Plus, since so many airlines and travel agencies don’t cover purchases or charge for limited coverage, it’s often better to rely on travel insurance instead of eating the cost on your credit card or debit card.
If you’re traveling overseas and you get sick, the airline misplaces your luggage, or you need emergency services, it’s important to try not to panic. That’s because travel insurance can help you find appropriate medical care and financial coverage for your needs. There’s even travel insurance that provides international auto coverage.
Pet insurance keeps your furry friends healthy.
Whether you’re a dog person, a cat person, or you prefer another type of pet entirely, it’s important to have insurance coverage for your animal pals. It’s also easy to assume that your only responsibilities include feeding an animal and tidying up after it. However, there’s much more responsibility—and much more money involved. For instance, some pets have genetic health conditions or develop problems due to overbreeding or other issues.
Sites like insurancetales.com highlight specific insurance instances where it’s important to have the right coverage. For instance, if your puppy needs emergency surgery or needs expensive monthly medications to thrive, are you financially prepared to provide for your pet? With pet insurance, it’s easier to offset these costs and take care of your animal companion.
While there are plenty of common situations in which you’d need different insurance coverage, there are also reasons to pick up an extra policy or two. Whether you’re insuring your upcoming vacation or you’re keeping your pet protected, it’s important to work with the right insurance brands.
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