What Type Of Insurance Coverage Should I Have
The type of insurance coverage that you should have is governed by the type of activity that you may be entering into. If you are thinking about buying a car and you have never owned a car before, then most states require that you have insurance coverage. The types of insurance coverage that you probably should have are liability coverage to protect you from claims brought by other parties against you for your alleged negligence; uninsured and undreinsured motorist coverage which gives you coverage against parties that are uninsured or underinsured if they should cause some injury to you; medical payments coverage which pays your medical bills irrespective of who may be at fault from an automobile accident; and comprehensive coverage which protects your automobile. If your vehicle is covered by a lien from a lender then typically the lender will require that you have comprehensive coverage because they want the vehicle insured. They are not so much concerned about you being insured personally.
Other types of coverage you may have is homeowners coverage to protect your home from fire and other natural disasters and also to protect you from liability claims. In addition, there is general liability coverage that may protect you in certain business pursuits.
The type of coverage that you need is governed by the activity that you are engaging in. How much coverage you need is likewise governed by what your other assets may be and the overall risk associated with the activity.
See Brien Roches book Law 101 published by Sphinx Publishing for more information on this subject.
