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Insurance Category and Types: 5 Basic Types of Insurance

Insurance Category and Types

Risk is almost everywhere and it mostly happens when it is least expected, such that when it occurs depending on the extent of the damage can leave one in debt. However, since we cannot stop such unexpected events from occurring we can sometimes get protection. Insurance protects us from unexpected costs, thereby minimizing the financial liability from such events. There is a wide range of insurance category and types, each of which covers a different area of one’s life.

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Homeowners Insurance : Meaning and Coverage Types

Homeowners Insurance

If you are familiar with real estate you will know that buying a house is a big investment, one that needs protection. It is such a valuable asset that you cannot afford to replace it out-of-pocket when damaged, as it can lead to bankruptcy. Therefore, it is important that you have homeowners insurance. It provides financial protection to the home and possessions contained in it against losses and damages that result from natural disasters or theft.

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