If you live in the UK, there are certain insurance policies you can use to financially protect yourself throughout your daily life. Some of these types of cover are used by any average citizen, while others are more suited to a specific lifestyle. For instance, a mum would specifically benefit from having health insurance. It would pay the expenses of childcare, cooking, ironing, and housekeeping for up to six months if she became ill.

Every UK registered vehicle keeper must have at least basic Motor Liability cover if the vehicle is used on roads or in public places. This type of insurance is required by law. Motor Insurance cover provides compensation to others if you cause someone else injuries or property damage while driving. A comprehensive Motor Cover, may also pay for the replacement or repairs to your own car, as well as pay your legal fees and own medical expenses.

House/Buildings Insurance and House Contents insurance cover are available to assist homeowners. House contents insurance cover the cost of replacing or repairing possessions that have been damaged or lost due to unforeseen events, such as a fire or flood. House/buildings policies pay the cost of rebuilding or repairing your home and any outlying buildings on the property if it’s damaged by unforeseeable events.

However, the homeowner must make sure both policies include cover for the right types of events. It’s important to ensure that events common to the area lived in, and the individual lifestyles’ common hazards and perils are included. It normally costs more to add some of these events to the cover.

Homeowners who have a mortgage on their homes may want to consider purchasing Unemployment Insurance or Mortgage Payment Protection Insurance. This cover protects a mortgage against a loss of income. Moreover, people who have a mortgage may also want to consider Life Insurance, which will pay out to their beneficiaries or pay off the mortgage upon the insured party’s death.

More types of cover

People who don’t own a home may still need to buy an insurance policy to protect their income. One type, called Income Protection Insurance, replaces part of your income if you can’t work due to a long-term illness or disability. Another cover plan, called Accident, Sickness, and Unemployment Insurance also pays out regular amounts for a limited time if you can’t work due to health reasons or redundancy. Creditor Insurance may also be purchased by those who want to cover repayments to a particular creditor for a specific loan.

Citizens concerned with their health may wish to purchase Critical Illness Insurance. It pays out a lump sum if you are diagnosed with a life-threatening condition, while Private Medical Insurance pays for private medical treatments when you need them. Long-term Care Insurance covers the cost of being tended if you can no longer care for yourself in old age.

For business owners and other professional trades’ members, there are specific commercial lines of insurance. These are varied, and usually require several policies to fully cover all the different aspects of a business. So if you need business insurance, you should consult an expert insurance consultant.

There are also numerous other personal insurance coverage lines available in the United Kingdom. For instance, there are cover for: holidays, travel, pets, and recreational vehicles. Whatever a person’s insurance needs may be, there’s probably a policy available. You simply needs to tell an insurance adviser or insurance broker what types of insurance is needed, and they will help find it.