What are the different types of insurance?
You've probably heard of car insurance, homeowners insurance and life insurance. Learn about coverage options for these and other types of policies.
Here you’ll find some of the more common types of insurance policies along with a short description of each, a few examples of available coverages, and resources where you can find more detailed information on each.
Homeowners insurance provides coverage for your home and other personal property in the case of a covered loss, such as a fire. It can also provide liability coverage in case you accidentally cause damage to someone else’s property or if someone gets injured at your home.
Renters insurance provides coverage for your stuff — like computers, TVs, electronics, bicycles, furniture and clothing — both inside and away from your place in the case of a covered loss, such as a fire, theft or vandalism. It can also provide liability coverage in case you accidentally cause damage to someone else’s property or if someone gets injured at your apartment.
Condo insurance provides coverage for your condo and personal property in the case of a covered loss, such as a fire, theft or other covered losses. It can also provide liability coverage in case you accidentally cause damage to someone else’s property or if someone gets injured at your condo. Generally, condo associations only insure the building and common areas, leaving you responsible for your property.
Manufactured home insurance
Manufactured home insurance provides coverage for your home and other personal property in the case of a covered loss, such as a fire.
Farm and ranch insurance
Farm and ranch insurance provides coverage for household personal property (like clothes, furniture, and appliances) in your dwelling if you live on your farm or ranch, as well as the Farm Personal Property (such as farm machinery, grain, livestock, and farm tools) that you use in your farming operations.
Flood insurance provides coverage for your home and other personal property in the event it gets damaged due to a flood. If you’re a homeowner, you may want to consider getting flood insurance since many homeowners insurance policies don’t cover damages caused by flooding. Even if you live in a moderate-to-low risk area, it can still be beneficial as those areas account for about 25% of all flood claims.
Car insurance provides coverage for your car if it gets damaged due to an event covered by the policy, such as an accident that involves another car and/or a person. It can also help cover medical bills for you and your passengers if you’re injured in an accident or if you're hit by another driver who is either uninsured or underinsured. Car insurance also covers damage to property, theft, fire, vandalism and more.
Motorcycle insurance provides coverage for your motorcycle, damage to property, injuries, theft, fire, vandalism and more.
RV insurance provides coverage for motorhomes, travel trailers or camping trailers, and would cover damage to property, injuries, theft, fire, vandalism and more.
Off-road vehicle insurance
Boat insurance provides coverage for your boat, motor, trailer and boat equipment for loss caused by sinking, theft, fire, storms, collision and more. There is also coverage if your boat causes injury to others or damage to other boats.
Life insurance provides financial protection for your beneficiaries in the unfortunate event you pass. There are many options to choose from such as time frames (ranging from 10 years to end of life) and coverage amounts, just to name a few.
Health insurance provides financial protection to help pay for costs associated with medical expenses. With the rising costs of health care and prescriptions, health insurance can help protect you from incurring debilitating bills as a result of a serious accident or illness.
Disability insurance provides financial protection from an unexpected loss of income to help you pay for things such as a mortgage, rent, a car loan and other regular living expense in case you become disabled and are unable to work.
Trupanion pet insurance provides coverage that can help lessen the financial burden when it comes to medical care for your pet. It often includes tests, surgeries and the treatment of breed-specific conditions.
Identity restoration insurance
Identity restoration insurance provides coverage for things such as identity theft, computer attacks, cyber extortion and fraud, to name a few.
Personal liability umbrella insurance
Personal liability umbrella insurance provides coverage for situations that exceed the limits of liability covered by an underlying policy such as car insurance, homeowners insurance or boat insurance. It’s meant to provide larger amounts of coverage for things included in the underlying policies, and broader ranges of coverage for things not included in the underlying policies such as defamation of character, libel and slander.
Personal articles insurance
Personal articles insurance provides coverage beyond homeowners or renters insurance to replace your valuable items like a baseball card collection, camera equipment, fine art and jewelry.
Businessowner insurance provides coverage options for a variety of business-related things such as property, liability, accounts receivable, computers and other types of equipment.
Want to know more?
Enhance your knowledge of insurance by talking with a State Farm agent.