5 types of insurance policies you might not know you needed


Purchasing the right type of insurance can keep you, your loved ones and your most valuable assets on the safe side. Most people know about the benefits insurance policies can bring to their lives and they take the time to do proper research and shop around before buying insurance. You can also check the royal bank benefits as well. Life insurance, health insurance, or car insurance are the most common policies people invest in. 

However, there are other types of insurance one might require, depending on their specific circumstances, that not everyone is aware of. So here are 5 less common insurance policies that can prove to be extremely useful or, in certain cases, essential for your safety. 

Disability insurance

When people hear the term disability insurance, they generally think it might be related to social security or having a long-term disability in order to qualify for it, but that’s not what this policy is about. Disability insurance simply ensures your financial stability in case something happens to you and you are not able to work anymore. So, if you don’t want to find yourself struggling financially because of an accident or illness, disability insurance will have you covered. 

Bobtail insurance 

Commercial truck drivers know how important trucking insurance is to protect their health and safety. However, this type of insurance doesn’t provide coverage if you get involved in an accident while driving a truck without a load on someone else’s authority. In this case, you’ll need bobtail and physical damage insurance to protect you against liability. This type of policy will cover all your accident-related costs, including lawsuits. 

Pet insurance 

We all love our pets dearly, and strive to take good care of them and be great pet parents. But pet insurance is probably not on our list of pet care items when we welcome a cat, a dog or any other cute creature into our lives. Unfortunately, pets can get sick or get involved in accidents and that involves additional expenses you might not be able to cover. Having pet insurance can be a true lifesaver in these circumstances and provide peace of mind for all pet parents out there. 

Renters insurance 

If you live in a rented house or apartment, you shouldn’t rely on your landlord’s insurance to protect your personal assets if something goes terribly wrong. You should know that a landlord’s insurance policy only covers the physical building. If you want to make sure all your possessions are safe, you have to invest in renters insurance. In some places, having renters insurance is mandatory if you want to rent a property. 

Travel insurance 

You’ve planned your trip carefully, packed your bags and now you’re ready to hit the road. But in all this excitement you might have forgotten a rather important aspect: purchasing travel insurance. Traveling is fun, but you also have to be cautious and plan for worst case scenarios. That’s where travel insurance comes into play to help you enjoy safe and stress-free holidays.