7 Kinds of Necessary Insurance That No One Talks About Enough

When you hear the word “insurance”, what do you think of? Most likely, your first thought is health insurance or car insurance. But did you know that there are other types of insurance that can be just as important to have? Here is a list of 7 kinds of necessary insurances that no one talks about enough.

Professional Liability Insurance 

Professional liability insurance provides protection against claims made by clients for negligence in the professional services provided. This type of coverage is important for professionals such as doctors, lawyers, and accountants to have in order to protect themselves from potential lawsuits.

Public Liability Insurance 

Insurance known as public liability insurance covers claims made against a business for injury or damage caused to a third party or their property while on the business premises or during the course of providing services. This type of coverage is especially important for businesses that provide services directly to customers and those who work with hazardous materials.

Product Liability Insurance 

Product liability insurance protects businesses from claims made by customers who are unhappy with the product they purchased from them. This type of coverage is especially important for companies that sell products directly to consumers and need protection from potential legal action due to faulty products or misleading descriptions/advertisements.

Cyber Liability Insurance 

Cyber liability insurance covers businesses against losses related to cyber attacks such as data breaches, ransomware attacks, and phishing scams. This type of coverage is especially important for businesses that handle sensitive customer data or rely heavily on technology in their day-to-day operations.

Business Interruption Insurance 

Business interruption insurance provides financial protection if a business has to close temporarily due to a natural disaster or other unforeseen event beyond its control. This type of coverage can help keep businesses afloat while they wait out the storm and get back on their feet again after an unexpected setback.

Employment Practices Liability Insurance 

Employment practices liability insurance provides protection against legal action taken by employees against their employers related to discrimination, sexual harassment, wrongful termination, and other workplace disputes. This type of coverage is essential for any business with employees in order to protect themselves from costly legal battles down the road if something goes wrong between employer and employee relationships at any point in time during employment tenure together..

Life Insurance 

Life insurance provides financial security for families in case something happens unexpectedly where income stops coming into the home due to death or disability (or other circumstances). This type of coverage helps families cope financially when tragedy strikes without warning and can make all the difference in times when it matters most.

As you can see, there are many different types of insurance available depending on your specific needs and circumstances—some more well known than others—but all equally essential if you want peace of mind knowing that your assets will be protected should anything go wrong down the line. The right kind of insurance can make all the difference if you are ever faced with an unexpected situation requiring financial assistance. If you’re unsure which kind would best fit your particular needs, it’s recommended that you speak with an independent agent who will be able to provide expert advice tailored specifically to you.