Best of the Week
Most Popular
1. 2019 From A Fourth Turning Perspective - James_Quinn
2.Beware the Young Stocks Bear Market! - Zeal_LLC
3.Safe Havens are Surging. What this Means for Stocks 2019 - Troy_Bombardia
4.Most Popular Financial Markets Analysis of 2018 - Trump and BrExit Chaos Dominate - Nadeem_Walayat
5.January 2019 Financial Markets Analysis and Forecasts - Nadeem_Walayat
6.Silver Price Trend Analysis 2019 - Nadeem_Walayat
7.Why 90% of Traders Lose - Nadeem_Walayat
8.What to do With Your Money in a Stocks Bear Market - Stephen_McBride
9.Stock Market What to Expect in the First 3~5 Months of 2019 - Chris_Vermeulen
10.China, Global Economy has Tipped over: The Surging Dollar and the Rallying Yen - FXCOT
Last 7 days
S&P 500 at Resistance Level, Downward Correction Ahead? - 17th Jan 19
Mauldin: My 2019 Economic Outlook - 17th Jan 19
Macro Could Weaken After US Government Shutdown. What This Means for Stocks - 17th Jan 19
US Stock Market Indexes Reaches Fibonacci Target Zone – Where to Next? - 17th Jan 19
How 2018 Was For The UK Casino Industry - 17th Jan 19
Gold Price – US$700 Or US$7000? - 16th Jan 19
Commodities Are the Right Story for 2019 - 16th Jan 19
Bitcoin Price Wavers - 15th Jan 19
History Shows That “Disruptor Stocks” Will Make You the Most Money in a Bear Market - 15th Jan 19
What Will the Stock Market Do Around Earnings Season - 15th Jan 19
2018-2019 Pop Goes The Debt Bubble - 15th Jan 19
Are Global Stock Markets About To Rally 10 Percent? - 15th Jan 19
Here's something to make you money in 2019 - 15th Jan 19
Theresa May to Lose by Over 200 Votes as Remain MP's Plot Subverting Brexit - 15th Jan 19
Europe is Burning - 14th Jan 19
S&P 500 Bounces Off 2,600, Downward Reversal? - 14th Jan 19
Gold A Rally or a Bull Market? - 14th Jan 19
Gold Stocks, Dollar and Oil Cycle Moves to Profit from in 2019 - 14th Jan 19
How To Profit From The Death Of Las Vegas - 14th Jan 19
Real Reason for Land Rover Crisis is Poor Quality of Build - 14th Jan 19
Stock Market Looking Toppy! - 13th Jan 19
Liquidity, Money Supply, and Insolvency - 13th Jan 19
Top Ten Trends Lead to Gold Price - 13th Jan 19
Silver: A Long Term Perspective - 13th Jan 19
Trump's Impeachment? Watch the Stock Market - 12th Jan 19
Big Silver Move Foreshadowed as Industrial Panic Looms - 12th Jan 19
Gold GDXJ Upside Bests GDX - 12th Jan 19
Devastating Investment Losses Are Coming: What Is Your Advisor Doing About It? - 12th Jan 19
Things to do Before Choosing the Right Credit Card - 12th Jan 19
Japanese Yen Outlook In 2019 - 11th Jan 19
Yield curve suggests that US Recession is near: Trading Setups - 11th Jan 19
How Unrealistic Return Assumptions Are Ruining Your Stocks Portfolio - 10th Jan 19
What’s Next for the US Dollar, Gold, Stocks & Bonds? - 10th Jan 19
America's New Africa Strategy - 10th Jan 19
Gold Mine Production by Country - 10th Jan 19
Gold, Stocks and the Flattening Yield Curve - 10th Jan 19
Silver Price Trend Forecast Target for 2019 - 10th Jan 19

Market Oracle FREE Newsletter

Bitcoin Analysis and Trend Forecast 2019

7 Insurance Policies That You Never Knew Existed

Personal_Finance / Insurance Oct 28, 2018 - 08:55 AM GMT

By: Dylan_Moran


Every good financial management strategy wouldn’t be complete without insurance. Life is full of uncertainties, after all, and good insurance plans can give you a sense of security and protection from unplanned situations that could easily put a dent to your finances.

You probably have a few insurance plans under your name to secure your biggest assets: your house, car and health. But did you know that there are other insurance policies that you probably don’t know about but might come handy in the future?

Flood Insurance

You see it on the news: extreme weather conditions such as floods are taking many places by surprise resulting in devastating losses for thousands of people. And with global warming making its presence felt, you can’t really be safe enough from the next flood to hit the country. While most insurance companies cover natural disasters like wind, hail and fire, not a lot of them will give you protection against a flood. Good thing, you can invest in a separate flood insurance policy if you want to secure your assets if this disaster strikes.

Heavy Equipment Insurance

If you’re running a business that involves managing a fleet, you might want to invest in truck, trailer and heavy equipment insurance to protect your business against huge losses in situations that may cause damage to property, damage to your load or the loss of your vehicle. Browse insurance options to find the right policies to secure your fleet.

Burial Insurance

The average cost of a funeral today is about $7000 and most life insurance policies don’t cover that expense. To protect your family from the difficulty of managing the costs of your burial, you can invest in burial insurance that will not only take care of funeral expenses but also ensure that you get the proper burial that you deserve.

Body Part Insurance

While a health insurance policy is enough for most people, others will go to greater lengths in protecting specific body parts, especially celebrities, artists and athletes who depend on them to make a living. For instance, football superstar Cristiano Ronaldo got his legs insured for 144 million dollars, Bruce Springsteen has his voice insured for 6 million by Lloyd’s of London and football player Troy Polamalu insured his famous locks for 1 million dollars for his Head and Shoulders shampoo endorsement.

Wedding Insurance

Your wedding is one of the most important days of your life and you’re putting a lot of money to make it as perfect as possible. But a lot of things can go wrong on or before the big day, especially on services that you hire from suppliers. To make sure that you don’t end up broke in case a supplier backs out or you don’t get the services that you paid for, a wedding insurance policy will surely give you that extra peace of mind.

Essential Employee Insurance

If you’re an entrepreneur, you know that losing a superstar employee can cause huge losses to your business. And if you want to protect your company in case a part of your team leaves or passes away, you can invest in a key person or keyman insurance policy. This will help you cover the cost of hiring and training a replacement and the potential financial losses to your company.

Dog Bite Insurance

More than 50% of all dog bites in the country happen on the property of the owners and is commonly caused by neglect like not putting a dog on a leash or cage. Now, if you’re a dog owner, you might want to consider investing in a dog bite insurance policy to protect your finances in case you get sued if your dog bites someone on your property. Some homeowners and renters policies may cover this incident, but having a more comprehensive plan that will cover all the extra costs of this incident.

The business of insurance policies is something that you should take seriously because it is one of the few tried and tested strategies out there to help you secure your finances during unplanned circumstances. And while you probably have a policy or two to cover basic assets, it’s very important to be open-minded about other plans that will fit your needs and lifestyle best.

By Dylan M.

© 2018 Copyright Dylan M. - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2018 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules