Type of Insurance Functions Example of Company Coverage Characteristics
Auto Automobile insurance protects the driver and their vehicle from financial repercussions when involved with an accident. State Farm Insurance Company, Nationwide, Progressive Pays the majority of expenses caused by bodily injury, property damage, collision, medical bills, and work.
Home Provides you with protection against the financial loss that comes with the damage or destruction of your home and personal belongings. Allstate Insurance Company Covers expenses caused by fire, explosion, glass breakage.
Health The main function of health insurance is to protect against unexpected costs due to illness, accidents, or injury. It also prevents co-pays or up-front costs AARP, Medicare, Medicaid, Blue Cross Routine care, Emergency care, pharmacy, deductibles
Disability Protects against loss of income due to disability Colonial life, Liberty Mutual, AIG Provides a source of replacement income
Life Provides payment in the event of a death Global Life Provides money for the surviving family of the deceased.