Everyone who drives a car knows that having an automobile insurance policy is mandatory. However, other many types of other coverage are available for different purposes and may help protect your family and assets from loss. You can find the coverage and policies that are appropriate for you at an insurance agency.

The law requires an auto policy be carried by any driver who may wish to be able to drive a vehicle on any road. The minimum legal policy is liability coverage that covers damage to another vehicle or injuries to other people. However, a full coverage policy is usually required by the lender when a vehicle is financed. This will also cover damage to the vehicle itself.

Health care coverage may soon be mandatory as well. This type of policy will eliminate or at least help to defray the costs of medical care, such as doctor bills or prescription drug expenses. This may not cover dental care, in which case a separate policy can be purchased to cover your oral care and orthodontics.

The majority of home owners will also have a home owners policy as a requirement to obtaining financing. Without adequate coverage, there are very few lenders that will even consider loaning money for a home purchase. These policies cover the home in case of damage or loss.

A house may also need a flood insurance policy if it is located in a flood zone. Water damage is usually not covered by home owners insurance if it is caused by a flood. This is also a requirement for obtaining a loan on a house in these zones where floods have been known to occur.

Mortgage insurance is also requirement for many house buyers. If the buyer is taking out a single loan that is over eighty percent of the purchase price, the added risk to the lender is mitigated with a mortgage policy. This will pay the lender in case of a default by the buyer on the loan.

Other types of coverage can be purchased by people to protect against losses incurred from a variety of circumstances. If you are need of added protection for your family or assets, you should consult a professional at an insurance agency. A small amount of money spent to purchase these policies can help protect you from much larger losses down the road.

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