Common types of insurance and protection

Auto Insurance

Auto insurance is designed to help protect you financially against vehicle damage and injury, depending on your coverage. Most states require you to carry some form of auto insurance – typically bodily injury and property damage liability, at the very least. This helps protect you if you’re found at fault in an accident and are on the hook for someone else’s repair costs or medical bills. Coverages like comprehensive and collision help cover your damage to your vehicle due to certain hazards, hail damage, theft, vandalism, crashes, and more.

Home Insurance

Homeowners insurance helps cover your house, certain detached structures on your property, and personal belongings if they’re damaged by a covered hazard, like a fire or theft. It can also help cover costs if you accidentally damage someone else’s property, or if someone is injured on your property and sues. Home insurance isn’t required by law, but mortgage lenders typically require homeowners to carry it.

Renters Insurance

Renters insurance helps cover the costs to repair or replace your belongings – including clothes, furniture and electronics. If your place is damaged and can’t be lived in, renters insurance may be able to help cover hotel bills. Covered risks include theft, vandalism and fire damage. Some landlords may require tenants to carry renters insurance. Note that renters insurance doesn’t cover the building itself – that’s where landlord insurance would come in and is the responsibility of the building owner.

Life Insurance

There are typically two general types of life insurance: term and permanent life insurance. Term life insurance covers you for a specific amount of time, typically from one to 40 years. It helps by paying your beneficiaries the death benefit if you pass away. Permanent life insurance remains active until you pass away. Most permanent policies also include cash value, which is a portion of your policy that earns interest over time and you may be able to borrow against in case of an emergency.

Motorcycle insurance

Motorcycle insurance is similar to auto insurance, that it helps protect your liability and your bike, depending on the coverages you carry.

ATV / ORV insurance

ATV insurance helps cover you and your off-roading vehicle, plus injuries of another driver, if you’re in an accident.

Snowmobile

Snowmobile insurance covers your sled, on and off the trails, all year round. It can also help cover repairs to someone else’s property if you’re found legally responsible the damage.

Boat insurance

A boat policy helps cover medical bills or repairs for injuries or property damage you’re responsible for – plus damage to your watercraft or trailer if they’re damaged or stolen.

RV insurance

RV insurance helps protect your motorhome or camper and typically covers towable and motorized RVs if they’re damaged in an accident, as well as your liability.

Classic car insurance

Also called collector car insurance, this is a special form of auto insurance that can cover vehicles that are not daily drivers, maintain or appreciate in value, and are of limited production or special interest.

Condo insurance

Condo insurance covers the portion of your unit for which you would be responsible (typically from the wall studs in), your personal belongings and liability.[

Landlord insurance

Landlord insurance helps cover those who own and rent out their property. It can help protect you against repair bills, rent loss and the cost of rebuilding the property.

Flood insurance

Flood insurance helps cover physical damage to your home and belongings from floods or related losses from rising water.

Business insurance

Business insurance can help cover a variety of risks to the premises and property your business owns. A businessowner policy (BOP) combines multiple coverages, such as property coverage (for building and/or contents) and liability coverage, into one convenient package and may cover damage to the premises and/or property, liability, and loss of income if your business is interrupted due to a covered incident. A commercial auto policy helps protect your business vehicle(s) and you/your employee’s liability, depending on the coverages you carry.

Identity protection

Identity protection coverage helps you monitor your personal information and help restore your identity if you’re the victim of fraud or identity theft. Common coverages include financial, privacy, data and credit monitoring, cyber protection, real-time alerts, and stolen funds reimbursement for individuals and families.

Phone protection

This provides coverage for cracked screens, liquid damage and battery failure.

Personal umbrella insurance

Umbrella insurance protects you where standard auto or home insurance doesn’t, including large liability claims or judgements against you or a family member.

Pet insurance

Pet health insurance can help cover the costs of unexpected illnesses or injuries for your beloved dog or cat.

Event insurance

Special event insurance helps cover financial losses that may occur when an accident, extreme weather, illness or a problem with a vendor puts a stop to your private event.

Travel insurance

Travel insurance helps reimburse you for nonrefundable payments and other costs related to your vacation if something goes wrong, like lost or stolen baggage, or unexpected medical expenses.

Voluntary employee benefits

This coverage can help financially protect your employees from injuries, medical costs and more.

Supplemental health coverage

Supplemental health coverage can help offer financial protection for you oryour family, depending on the type of protections you choose. Solutions can range from medical, accident or critical illness coverages.

Retirement savings (annuities, IRAs, mutual funds)

Retirement and financial solutions to help you prepare for the future and meet personalized financial goals.

College savings (529 plans)

A 529 college plan helps you save money for tuition and housing, and even be used toward K-12 private schools.