7 Types of Insurance Coverage Everyone Needs

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

1. Health Insurance

Essential for: Medical expenses, preventative care, emergencies.

Example: A health plan covering doctor’s visits, prescriptions, hospital stays.

Visit the health insurance marketplace to shop for a quote tailored to your needs

Insurance Coverage Types

2. Auto Insurance

Essential for: Vehicle owners, drivers.

Example: Coverage for accidents, theft, liability in case you’re responsible for damage or injury.

3. Homeowners or Renters Insurance

Essential for: Homeowners, renters.

Example: Protection against loss due to theft, fire, natural disasters.

4. Life Insurance

Essential for: Anyone with dependents or debts.

Example: A policy ensuring financial support to your family after your demise.

Get a free life insurance quote that ensures your family is protected

Types Of Coverage

5. Disability Insurance

Essential for: Income protection.

Example: Coverage providing income if you’re unable to work due to disability.

Shop the disability insurance marketplace to find a personalized quote today

Types Of Insurance Coverage

6. Long-Term Care Insurance

Essential for: Aging individuals, those with chronic illnesses.

Example: Coverage for costs of long-term care services, like in-home care, and assisted living.

What Types Of Insurance Do I Need

7. Liability Insurance

Essential for: Protection against lawsuits.

Example: Coverage if someone sues you for personal injury or property damage.

Comparing Insurance Types

Insurance TypeKey BenefitIdeal ForCommon Coverage
HealthMedical CostsEveryoneDoctor visits, surgeries
AutoAccident ProtectionVehicle OwnersCollision, liability
Home/RentersProperty SafetyHomeowners, RentersTheft, natural disasters
LifeFinancial SecurityDependentsDeath benefits
DisabilityIncome ReplacementWorkersLost wages due to disability
Long-Term CareElderly Care CostsAging IndividualsIn-home, assisted living care
LiabilityLegal ProtectionEveryoneLegal defense, damages


Understanding these seven essential types of insurance ensures you are well-prepared for various life events. They provide financial security and peace of mind in the face of health issues, accidents, property damage, and other unexpected circumstances. Contact us today for a free quote.

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Frequently Asked Questions

What other insurance should I consider?

Pet insurance is a type of insurance that is becoming more popular for those with furry friends. This insurance covers your pet if they are injured or becomes sick. In addition, pet insurance can be beneficial if you have an expensive pet, such as a dog or cat.

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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