What is Insurance? Insurance is like buying a guarantee against risk of loss. You pay a company a set amount of money for a policy which gives you protection on your property in case something were to happen to it. If something were to happen to your property the company would give you money to replace or fix it. There are lots of things that you can get insurance on and there are many different types and policies of insurance. Insurance costs depend on what type of policy you have and what the company will cover.
Types of Insurance: Health: Health insurance covers any kind of medical bills weather it's dental, hospital bills, or for prescription medicine.
Auto: Auto insurance covers your car or any other automobile in the case of a damage or if you were hurt in a car crash. Auto insurance doesn't always cover all damages and is required to have if you own a car.
Home: Home owners insurance is very important to have. It covers your house and all the property in it incase you were to ever loose it in a fire or some kind of disaster.
Life: Life insurance is nice to have for your family incase you were to die. It helps your family maintain financial stability in the lose of a family member that was the main financial supporter.