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Question

Asked 4/10/2011

What is the most important type of Insurance?

Which is more important, car insurance, health insurance, fire insurance, flood insurance, or what?

 
 
 
 
Answers

Answer 1/14 - Submitted 4/10/2011

The most important insurance is all of the above. It depends what you need at that moment. If you get in a car accident and do not have insurance, then you can run yourself in a debt you will never recover from. Same thing for fire insurance or flood insurance, we all hope we will never need to use coverage that we carry but if we do not have it, that would have repercussions.

 
 

Answer 2/14 - Submitted 4/10/2011

This seems like an opinion question. For me, personally, I would choose health insurance if I could have only one. I get sick several times a year, and I have a family who needs immunizations, wellness visits, et cetera. Auto insurance is important, too, but not as important as the health of myself and my loved ones.

 
 

Answer 3/14 - Submitted 4/11/2011

All types of insurance are important however the most important is the one you consider will be of most use if the worst comes to the worst. Not all people need all types of insurance policies. For example a person that does not drive would not need auto insurance. Similarly, a lodger would not need home insurance.

The situation of every person is different, as is their insurance requirements. So when buying insurance policies you need to look at your specific situation and note down the types of insurance policies that would be useful to you. Next, you need to carry out a risk assessment, i.e. try and calculate the liklihood an event is going to happen and the costs that would arise if the event happened. From this you can then make an informed decision on whether it is worth taking out a specific insurance policy or not.

Buying insurance is a balancing act. It is important to ensure you are not over insured as this is waste of money, however it is equally important to have adequate insurance to ensure you are not under insured.

 
 

Answer 4/14 - Submitted 4/24/2011

Car insurance is most important insurance in my opinion because it is more likely possible that car is damaged in some crash. Your investment in car and insurance will never be lost. So it is important to have car insurance.

Health insurance may be important if someone have issue with the health. Flood insurance is not important as such because there are very few chances of floods. However if you find that there are significant chances of flood, then you may have flood insurance.

Then comes fire insurance. Fire insurance will be important if your home is situated in ire sensitive area. But i don't think that fire insurance is having much importance.

 
 

Answer 5/14 - Submitted 4/25/2011

The most important type of insurance is definitely health insurance.

Although today there are insurance policies that covers virtually anything imaginable, only your health guarantees you to enjoy life, to work and earn for living. Without proper health insurance, every serious condition or accident can turn you unable to provide essential treatment and cause awful debts to the hospital.

If your employer does not pay your health insurance or you are self-employed, you need to plan immediately the best health insurance that fits your life style and possibilities.

As it is vital to make the right decision before you sign your health insurance policy, read more about it on http://www.ehealthinsurance.com/ or many other on-line resources for health insurance.

 
 

Answer 6/14 - Submitted 4/26/2011

Health insurance is the most important. Without your health, it doesn't matter about your car or your house. Also health care is quite expensive without insurance. And it is getting more expensive every day.

 
 

Answer 7/14 - Submitted 4/26/2011

Life Insurance - Ofcourse we cannot use the money after our death which is not most important.
Health Insurance - Ofcourse it is very useful for the people who are in US, because the cost of treatment is very expensive and lot of people cannot afford it at once. So, it is most important.
Car Insurance - This is most important for the people who drive their car very rash and for the people who drives in a busy roads. So, it is important for them.
Flood Insurance - This one will be helpful for the people who has the more floods in their country.

It depend's upon their usage and living style.

 
 

Answer 8/14 - Submitted 4/26/2011

The insurance coverage needed varies from individual to individual and you cannot choose a blanket type of insurance that all people need. Many people drive so they need automobile insurance and others own their own homes so they need home insurance and many are in need of health coverage as well. The most inportant type of insurance would be the type that covers the most pressing need of each person at a given moment. Health insurance is something that many need especially as they get older although some older healthy individuals may not see it as necessary for their situation because they do not forsee any health issues cropping up in the short term.

As empire mentions, flood insurance should be a priority for some based on where they live while those in other areas may never see the need for an insurance policy that indemnities them in the case of severe flooding because the liklihood of such an event happening in there area is extremely remote.

 
 

Answer 9/14 - Submitted 6/11/2011

Health and Life insurance.Unlike other insurable risks like fire and floods,these ill health and death are guaranteed to happen.With the high cost of uninsured health care and its poor quality,it is better to have health insurance especially when you have a family.Life insurance ensures that your family is well of in case the Grim Reaper comes knocking.

 
 

Answer 10/14 - Submitted 7/24/2011

Every insurance is important, since they either provide income when we cannot work, or they help us pay if we get into trouble.
Hard to imagine a person without life insurance and medical insurance getting a critical illness, and has to pay for all the treatments.

 
 

Answer 11/14 - Submitted 7/24/2011

This would depend on where you live. Being in the UK health insurance is not as important as it would be in the USA. It does still get you better treatment and peace of mind though.
Living in the UK I would say that House insurance. Buildings and contents insurance equally are the most important. It does not matter what else you live with out, if you have your home and your belongings insured, you have some solidarity and stability to your life. Many people underestimate how much they would need to rebuild their homes or replace their belongings.

 
 

Answer 12/14 - Submitted 10/11/2011

I think all the insurance are important and they are meant for our own safety. But preference wise i recommend life insurance.

 
 

Answer 13/14 - Submitted 10/15/2011

That depends on whether you have children or not. If you do, I think life insurance is vital. That way if you do happen to die, your family will be somewhat taken care of. Imagine if you died and on top of the grief, your partner and children had to move out of the house (or worst) because they could not afford it without uptime salary.
The bet advice I was given by a financial advisor once was: get some cover for just about everything but dont get the full cover.

 
 

Answer 14/14 - Submitted 10/15/2011

Number one insurance of all is Life Insurance. To me, that's important. I'm from U.S.A. a lot of young people including children died every second as well as adults and they don't have a life insurance. They have to beg a family member to a neighbor to someone you hardly know to put up the money for a burial.

Today's burial cost can run from $5,000 up to $12,000 including the arrangements and everything. Life insurance is very important. Get Life Insurance Coverage. Not only for Burial, but leave your family something so they can depend on just incase of there is an emergency.

And of course Health is second important thing..

 
 
 
 
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