In the time it takes you to read this article, a disaster could strike.
That disaster could be a health scare, weather-related damage, or even cybercrime that compromises your privacy. And it could have serious implications for you and your family.
That’s why finding the right insurance is important. Protect your family with these five often-overlooked insurance options.
1. Dental Insurance
You may assume everyone has dental insurance, but a whopping 74 million Americans don’t—and your family may not either.
Yet you might not realize that you don’t have dental care coverage until it’s too late. Your child may need treatment for a chipped tooth, or you may need to see a dentist for tooth sensitivity. And only then do you realize you have to cover those costs completely out of pocket.
Health insurance is a must, but don’t overlook dental insurance too.
Not all health insurance companies include dentist’s visits in their plans. In that case, you’ll have to find a separate dental insurance provider that will meet your family’s needs.
When searching for dental insurance, you can check if your employer offers any plans. If not, find your own that fits your budget, has fair deductibles, and offers a plan that includes the type of dental care you need.
You can also work with an insurance expert to find the best personal insurance for you and your family.
2. Disability Coverage
Disability isn’t just a problem to worry about later once your kids are grown. Even fit and healthy individuals can suffer a disability.
Disabilities can be caused by work injuries, sports injuries, unexpected illness, and even mental stress.
And if you or your spouse suffers from a disability, you’ll be out of work for an extended period of time. That means your regular expenses, as well as new medical expenses, may pile up.
This can be a major blow to you and your family.
If you don’t have disability coverage already, now is the time to sign up. When looking for disability options for insurance, look for a plan that protects you when you’re unable to work at your current job.
Some types won’t cover you if you can still work another type of job. For example, if you currently work in construction and suffer an injury, you may still be able to work a desk job.
Be careful to read the fine print when choosing insurance for you and your spouse.
3. Flood Insurance
Unlike some natural disasters, a flood can strike nearly anywhere in the US. And a major flood can leave you and your children displaced and without a home.
This can be extremely traumatic to your family. That’s why it’s important to get back on your feet as quickly as possible after a flood. And the right insurance options can help.
You may already have home insurance for family protection, but not all plans automatically include flood damage. In fact, floods are rarely included in homeowners’ insurance.
Look for a flood policy that will cover damage costs and help you and your family recover as soon as possible.
4. Identity Theft Coverage
Home insurance companies usually offer optional identity theft coverage. But chances are you didn’t sign up for this coverage in your plan.
Now might be the perfect time to rethink that decision: in 2020, consumers lost nearly $60 billion because of identity theft.
You or your spouse’s identity could be stolen, and you may not even notice until considerable damage has been done. Identity thieves can drain your bank account, max out credit cards in your name, and ruin your credit score.
And this can limit what options your family has for where to live, what loans to take out (including student loans), and more. Plus, having your identity stolen can cost you even more in legal expenses if you need a lawyer’s help when repairing your financial standing.
Keep your family protected with identity theft coverage. That way, you’ll be reimbursed if you’re a victim of identity theft.
5. Pet Insurance
Pet insurance isn’t a standard part of insurance for a family. But if your family includes at least one furry member, pet insurance can include them and their safety too.
Having pet insurance may be the only way to cover the costs of an expensive checkup for your dog or a critical surgery for your cat. And this can be lifesaving for your pet.
Not only that, but sky-high vet bills can hurt your family’s budget and even drive you into debt if you’re not prepared.
With pet insurance, you pay a monthly or annual fee for protection for your pet. But it’s important to note that different pet insurance companies and plans offer different benefits.
For example, some only cover partial costs related to emergencies, while others include regular vet visits and vaccinations.
If your family has a pet, consider pet insurance, and learn the terms of each plan before choosing one.
Insurance Options That Protect Your Family
If you want to protect your family, you must look beyond the minimum when it comes to insurance.
Some types of insurance are often overlooked and not included in standard insurance plans. But having these types of coverage can make all the difference in your family’s safety and well-being.
Arm yourself against damaging disasters, from an unexpected injury to a flooded home. Choose insurance options with your family’s future in mind.
For more tips to help protect your family, read our other articles on money saving and finances!