You may be surprised to learn that there are hundreds and hundreds of types of insurance available. Some types of insurance may fit your needs and others may not. The trick is to know what your needs are and then find the best policy for you. This blog post is focused on giving you an overview of the types of insurance that exist so that you can make an informed decision about which are the best for your situation.

Types of Personal Insurance

Auto Insurance

Auto Insurance is a type of insurance that provides protection against financial losses resulting from an auto accident. It also is known as car insurance and automobile insurance. This type of policy covers the damages to your vehicle as well as any injuries or property damage you may cause while driving for car wrecks and other perils. The monthly premiums on auto insurance vary greatly depending on the insurance company. Car Insurance is required in most states to drive on the roads. These types of insurance are highly customizable so you can opt-in and opt out of more coverage and policy limits. Premium is determined by the insurance company and many factors including your driving record. A Property and Casualty Insurance Company generally provides these types of insurance.

Homeowner’s Insurance (HO-3 Insurance)

HO-3 policies, also known as Homeowner’s Insurance, is a type of insurance that protects homeowners in case of damage to their property. Homeowners insurance covers and includes coverage for the home, its contents, and liability protection in case someone is injured while on your property. A natural disaster like a hurricane would be covered under a homeowners insurance policy. Personal property is generally covered as well. A Property and Casualty Insurance Company provides these types of insurance.

Homeowner’s Insurance (HE-07 Insurance)

Similar to HO-03 policies, HE-07 policies are a type of insurance that protects homeowners from damages to their property. However, HE-07 policies offer more comprehensive coverage than HO-03 policies and usually include additional protections like loss of use and personal liability. There are enhanced types of insurance sometimes like most don’t realize that some policy forms cover a broader list of perils.

Renters Insurance

Renters insurance is a type of insurance that provides insurance coverage against financial losses for renters in case of damage to their property. This type of policy usually includes coverage for the renter’s personal property, medical expenses in case of injuries to other people or damage to their belongings, and additional living expenses in case they are not able to stay in their home temporarily. Renters insurance does not cover the building you are living in. Renters insurance has liability coverage built into them as well to cover things.

Condo Insurance

A condo insurance policy is a type of homeowner’s policy that protects condominium owners from damages caused by events such as fires, theft, or vandalism. This type of policy usually includes coverage for the condo’s structure, its contents, and liability protection in case someone is injured while on your property. Condo insurance policies generally do not cover the roof and siding but it always is best to check with your Master Condo Association to be certain.

Landlord Insurance

Landlord Insurance is a policy that protects rental property owners against financial losses resulting from events such as fires, theft, or vandalism. This type of policy usually includes coverage for the structure’s replacement cost in case it is damaged but does not cover any personal belongings you leave on your rental units like furniture and appliances.

Dwelling Fire Insurance

Dwelling Fire Insurance is a type of property insurance that has insurance coverage for things like fire damage. This generally is used for investment properties or hard to place primary homes. This type of policy usually includes coverage for the structure’s replacement cost, as well as any personal belongings you leave in the home. House fire is a common coverage under a dwelling fire policy.

Umbrella Insurance Policy

Umbrella Insurance is a policy that provides protection for individuals and families against claims of liability. This type of insurance offers additional coverage over the limits typically offered by Homeowner’s Insurance or Auto Insurance, protecting you from damages like libel, slander, defamation of character, etc. This type of insurance is not the right coverage for everyone but if your net worth is higher, you should speak with an agent about your options.

Flood Insurance

Flood Insurance is a policy that provides protection against financial losses caused by flooding. This type of insurance is typically offered through the National Flood Insurance Program and covers damages to your property as well as your belongings.

Builders Risk Insurance

Builders Risk insurance is a type of insurance that protects those involved in the building industry from financial losses when building a home. This type of insurance protects contractors, subcontractors, and suppliers against damages to their equipment as well as loss or damage to materials on-site during construction.

Motorcycle Insurance

Motorcycle Insurance is a type of insurance that protects motorcycle owners in case they are involved in an accident or their bike is stolen. This policy usually includes coverage for the rider’s injuries, damages to other vehicles and property, as well as protection against uninsured motorists. The insurance company varies so make sure you are getting the appropriate coverage.

RV Insurance

RV Insurance is a policy that provides protection for recreational vehicles in case they are involved in an accident or their contents are stolen. This type of insurance usually includes coverage for the RV’s structure, its contents, and liability protection in case someone is injured while on your property. Rates differ between each insurance company so do your research!

ATV Insurance

ATV Insurance is a policy that provides protection for all-terrain vehicles in case they are involved in an accident. This type of insurance usually includes coverage for the ATV’s structure, its contents, and liability protection in case someone is injured while on your property.

Snowmobile Insurance

Snowmobile Insurance is a policy that provides protection for snowmobiles in case they are involved in an accident. This type of insurance usually includes coverage for the snowmobile’s structure, its contents, and liability protection in case someone is injured while on your property.

Boat Insurance

Boat Insurance is a policy that provides protection for boats in case they are involved in an accident or their contents are stolen. This type of insurance usually includes coverage for the boat’s structure, its contents, and liability protection in case someone is injured while on your property.

Trailer Insurance

Trailer Insurance is a policy that provides protection for trailers in case they are involved in an accident or their contents are stolen. This type of insurance usually includes coverage for the trailer’s structure, its contents, and liability protection in case someone is injured while on your property. Rates differ between each insurance company so do your research!

Wedding Ring Insurance

Wedding Ring Insurance is a policy that provides protection for wedding rings in case they are lost, stolen or damaged. This type of insurance usually includes reimbursement for the ring’s replacement cost.

Personal Article Floater Policy

A personal article floater policy is a type of policy that provides additional coverage over your homeowners insurance. It covers expensive personal belongings such as jewelry, artwork, and collectibles in case they are lost or stolen from a residence.

Pet Insurance

Pet Insurance is a type of insurance that provides coverage for your pets medical bills. This policy usually includes protection against hereditary and congenital conditions as well as accidents, injuries, illness ,and more. These types of insurance policies are highly customizable.

Travel Insurance

Travel Insurance is a type of insurance that covers cancellations, medical expenses, and lost luggage while traveling. This policy usually provides protection for things like trip cancellation, medical expenses, and lost baggage.

Types of Life Insurance

Term Life Insurance

Term life insurance helps provide your family financial protection for a set period, typically 20-30 years. This type of insurance helps ensure that there is money available to help pay bills and other final expenses in the event of your death during that term. Term Insurance can be a great product to replace lost income to a surviving spouse. The best temporary way to insurance someone’s life over some time is to get a life insurance policy. Make sure you do your research and find a good life insurance policy from a reputable insurance agent.

Whole Life Insurance

Whole life insurance is a type of permanent insurance that builds cash value over time. This policy offers protection for your family’s future and the possibility to invest in case you are alive or deceased. Whole life insurance can range from around $10 dollars a month to a few hundred depending on the death benefit. Whole life insurance can alleviate the financial burden to loved ones for burial expenses. A life insurance policy is a great way to be sure that you are not leaving this earth, leaving burdens to family.

Universal Life Insurance

Universal life insurance is a type of life insurance policy that builds cash value over time and includes death benefit protection. This allows you to make changes in your coverage, such as increasing or decreasing premiums or types of benefits available at any time during the policy’s term. Universal Life insurance is a great product to protect against financial hardship.

Mortgage Protection Life Insurance

Mortgage protection life insurance is a type of policy that is designed to pay off your home’s mortgage balance in the event you pass away. This type of insurance helps protect both the life under which it was taken out as well as anyone else who might be on title with you at the time. Rates differ between each insurance company so do your research!

Types of Health Insurance:

PPO Health Insurance

is a type of health insurance plan that offers you the flexibility to choose your own doctor and receive care from any hospital or medical facility. PPOs usually offer a lower premium than HMOs, but do not have as much coverage.

HMO Health Insurance

HMO Health Insurance is a type of health insurance plan that offers you the flexibility to choose your doctor, but only from a list of approved providers. HMOs usually have a lower premium than PPOs and offer more comprehensive coverage. Medical costs and medical care can be restricted at times with this type of insurance.

Types of Ancillary Insurance Products

Dental Insurance

Dental Insurance is a type of policy that helps you pay for dental care. This type of insurance usually includes coverage for preventive, diagnostic, and corrective services.

Vision Insurance

Vision Insurance is a type of policy that helps you pay for vision care. This type of insurance usually includes coverage for routine eye exams, glasses, and contact lenses.

Long Term Disability Insurance

Long-term disability insurance is a type of insurance that helps protect your income in the event you become disabled and are no longer able to work. This policy typically pays a monthly benefit for up to 60 months, or until age 65 when benefits can be extended through Social Security Disability Insurance (SSDI).

Short Term Disability Insurance

Short Term Disability Insurance is a type of insurance that helps protect your income in the event you become disabled and are no longer able to work for a short period. This policy typically pays a monthly benefit for up to 26 weeks, or until age 65 when benefits can be extended through Social Security Disability Insurance (SSDI).

Critical Illness Insurance

Critical Illness Insurance is a type of policy that helps you pay for medical expenses related to a critical illness. This type of insurance usually includes coverage for conditions like cancer, heart attack, and stroke.

Hospital Indemnity Insurance

Hospital Indemnity Insurance is a type of policy that helps you pay for medical expenses related to a hospital stay. This type of insurance usually includes coverage for room and board, as well as other services like surgery and x-rays.

Types of Senior Insurance Products

Medicare Supplements

Medicare Supplements are a type of policy that helps fill in the gaps left by Medicare. These policies offer protection against out-of-pocket costs, such as copayments, coinsurance, and deductibles. These types of insurance policies are highly customizable. Rates differ between each insurance company so do your research!

Medicare Advantage Plans

Medicare Advantage plans are a type of health insurance plan that offers all the benefits of Original Medicare, as well as additional coverage for services like vision, dental, and prescription drugs. These plans usually have a lower monthly premium than Original Medicare.

Long Term Care Insurance

Long Term Care Insurance is a type of policy that helps you pay for long-term care in the event you are unable to perform daily tasks like bathing, dressing, and feeding yourself. This type of insurance usually includes coverage for room and board fees as well as other services like nursing assistance or rehabilitation therapy. These types of insurance policies can be customized to fit your needs.

Short Term Care Insurance

Short Term Care Insurance is a type of policy that helps you pay for short-term care in the event you are unable to perform daily tasks like bathing, dressing and feeding yourself. This type of insurance usually includes coverage for room and board fees as well as other services like nursing assistance or rehabilitation therapy.

Home Health Care Insurance

Home Health Care Insurance is a type of policy that helps you pay for home health care in the event you are unable to perform daily tasks like bathing, dressing, and feeding yourself. This type of insurance usually includes coverage for room and board fees as well as other services like nursing assistance or rehabilitation therapy.

Cancer Insurance

Cancer Insurance is a type of policy that helps pay for costs associated with cancer treatment. This type of insurance usually includes coverage for expenses like chemotherapy, radiation therapy, and surgery.

Fixed Annuities

Fixed Annuities are a type of investment product that provides a guaranteed income stream for a certain period but is generally looked at as a retirement savings account. This type of annuity typically has a higher return than a savings account, but less risk than stocks or mutual funds.

Equity Indexed Annuities

Equity Indexed Annuities are a type of investment product that can provide a guaranteed income stream for a certain period. This type of annuity typically considers the market gains but usually guarantees that you will not lose on the account.

Variable Annuities

Variable Annuities are a type of investment product that provides returns in considering the market gains and losses.

Types of Business Insurance Products

BOP (Business Owners Policy)

Business owner’s policy also known as a BOP or small business insurance, is a type of insurance that combines property and liability coverage for business owners. A BOP usually will contain a package of coverage that covers property, equipment, and even liability.

Business Liability Insurance

Business Liability Insurance is a type of insurance that protects your business from claims brought against it by customers or other businesses. This policy usually protects things like medical expenses and legal fees. This type of business insurance covers if you are ever sued and need legal assistance.

Commercial Property Insurance

Commercial Property Insurance covers property damage to your business building and the contents inside. This policy usually protects things like fire, theft, and vandalism. This business Insurance will cover the physical building you own.

Business Auto Insurance / Commercial Auto Insurance

Commercial Auto Insurance is a type of insurance that covers vehicles used for business purposes. This policy usually protects things like collision, liability, and property damage.

Trucking Insurance

Trucking insurance is a type of insurance that covers vehicles used to transport goods. This policy usually protects things like collision, liability, and property damage.

Cyber Liability Insurance

Cyber Liability Insurance is a type of insurance that covers cyber liability. This policy usually protects things like damages to a third party and legal expenses.

Professional Liability Insurance (E&O)

E&O Insurance is a type of insurance that covers professionals for errors and omissions. This policy usually provides protection for things like legal expenses and damages to a third party.

Workers Compensation Insurance

Workers Compensation insurance is a type of insurance that covers injuries or illnesses sustained by employees while on the job. This policy usually provides coverage for things like medical expenses and lost wages. Every state may have different laws on this but generally, if you have 3 or more employees, you should carry workers compensation insurance.

Crime Insurance

Crime insurance is a type of insurance that covers things like burglary and robbery. This policy usually protects things like stolen cash, lost wages, and legal expenses.

Employment Practices Liability Insurance (EPLI)

Employment practices liability insurance is a type of insurance that covers labor-related issues such as discrimination or harassment. This policy usually provides protection for things like legal expenses and damages to a third party.

Wedding Insurance

Wedding Insurance is a type of insurance that covers cancellation and postponement in the event a wedding is canceled. This policy usually provides protection for things like non-refundable deposits, legal fees, and lost earnings.

Photography Insurance

Photography insurance is a type of insurance that covers damages to or loss of photography equipment. This policy usually provides protection for things like theft, damage, and vandalism.

Restaurant Insurance

Restaurant Insurance is a type of insurance that covers damages to or loss of restaurant equipment. This policy usually provides protection for things like theft, damage, and vandalism.

Church Insurance

Church Insurance is a type of insurance that covers damages to or loss of church property. This policy usually provides protection for things like theft, damage, and vandalism.

Retail Insurance

Retail Insurance is a type of insurance that covers damages to or loss from a retail store. This policy usually provides protection for things like theft, damage, and vandalism.

Salon Insurance

Salon Insurance is a type of insurance that covers damages to or loss of salon property. This policy usually provides protection for things like theft, damage, and vandalism.

Veterinarian Office Insurance

Veterinarian Office Insurance is a type of insurance that covers damages to or loss of veterinarian office property. This policy usually provides protection for things like theft, damage, and vandalism.

Real Estate E&O Insurance

Real Estate E&O Insurance is a type of insurance that covers real estate agents for errors and omissions. This policy usually provides protection for things like legal expenses and damages to a third party.

Mortgage Bankers and Brokers Insurance

Mortgage Bankers and Brokers Insurance is a type of insurance that covers mortgage bankers and brokers for errors and omissions. This policy usually provides protection for things like legal expenses and damages to a third party.

Auto Body Repair Shop Insurance

Auto Body Repair Shop Insurance is a type of insurance that covers damages to or loss of a vehicle caused by repairs at an auto body shop. This policy usually provides protection for things like theft, damage, and vandalism.

Auto Dealer Insurance

Auto Dealer insurance is a type of insurance that covers damages to or loss of dealership property. This policy usually provides protection for things like theft, damage, and vandalism.

Garage Liability Insurance

Garage Liability Insurance is a type of insurance that covers damages to or loss of property while in a garage. This policy usually provides protection for things like theft, damage, and vandalism.

Insurance Agent E&O Insurance

Insurance Agent E&O Insurance is a type of insurance that covers insurance agents for errors and omissions. This policy usually provides protection for things like legal expenses and damages to a third party.

Hotel Insurance

Hotel Insurance covers damages to hotel property. This policy usually provides protection for things like theft, damage, and vandalism.

Liquor Liability Insurance

Liquor Liability Insurance is a type of insurance that covers damages to or loss of property while drinking at a bar. This policy usually provides protection for things like theft, damage, and vandalism.

Spa Insurance

Spa Insurance covers damages to spa property. This policy usually provides protection for things like theft, damage, and vandalism.

Event Planner Insurance

Event Planner Insurance is interesting since it covers damages to or loss of property while conducting an event. This policy usually provides protection for things like theft, damage, and vandalism.

Grocery Store Insurance –

Grocery Store Insurance is a type of insurance that covers damages to or loss of grocery store property. This policy usually provides protection for things like theft, damage, and vandalism.

Tattoo Parlor Insurance

Tattoo Parlor Insurance covers damages to tattoo parlor property. This policy usually provides protection for things like theft, damage, and vandalism.

Barber Shop Insurance

Barber Shop Insurance covers damages to barbershop property. This policy usually provides protection for things like theft, damage, and vandalism.

Daycare Insurance

Daycare insurance is a type of insurance that covers damages to or loss of daycare property. This policy usually provides protection for things like theft, damage, and vandalism.

Gaming Insurance

Gaming insurance is a type of insurance that covers damages to or loss of property while gambling. This policy usually provides protection for things like theft, damage, and vandalism.

Florist Insurance

Florist Insurance is a type of insurance that covers damages to or loss of florist property. This policy usually provides protection for things like fire, theft, damage, and vandalism.

Laundry Mat Insurance

Laundry Mat Insurance is a type of insurance that covers damages to or loss of property while at a laundromat. This policy usually provides protection for things like fire, theft, damage, and vandalism.

Tailor Insurance

Tailor Insurance is a type of insurance that covers damages to or loss of tailor property. This policy usually provides protection for things like fire, theft, damage, and vandalism.

Dry Cleaner Insurance

Dry Cleaner Insurance is a type of insurance that covers damages to or loss of dry cleaner property. This policy usually provides protection for things like fire, theft, damage, and vandalism.

Plumber Insurance

Plumber Insurance covers plumbers’ liability and business property. It also can cover damages to or loss of plumbing tools and equipment.

Electrician Insurance

Electrician insurance covers electricians’ liability and business property. It also can cover damages to or loss of electrical tools and equipment.

Auto Mechanic Insurance

Auto Mechanic Insurance covers auto mechanics liability and business property. It also can cover damages to or loss of mechanic tools.

HVAC Insurance

HVAC Insurance is unique because is covers damages to or loss of both the HVAC equipment and the business property. This policy usually provides protection for things like fire, theft, damage, and vandalism.

Summary

Insurance is complicated, but with so many different types of insurance available, it can be hard to know where to start. I hope this list of the types of insurance was helpful and we will continue to add more over time.