Skip to content
By Bialke Agency

The Top Six Insurance Policies You Can’t Go Without and Those You Can Skip

Paying for insurance might not be your top financial priority, but you’ll appreciate having it when the unexpected occurs. Insurance is an essential part of our financial safety net. It provides peace of mind and financial protection when the unexpected happens. However, not all insurance policies are created equal. Some are crucial for safeguarding your future, while others may not be as necessary.

In this blog, we will explore the top six insurance policies you should never skip and those you can consider passing up to save your hard-earned money.

The Must-Have Insurance Policies:

  1. Health Insurance: Health is wealth, and having comprehensive health insurance is non-negotiable. It ensures you have access to medical care when you need it without crippling medical bills. You can find a suitable health insurance plan through reputable providers like Blue Cross Blue Shield or Aetna.
  2. Auto Insurance: If you own a vehicle, auto insurance is mandatory in most states. It protects you from the financial burden of accidents, theft, or damage to your car. Major insurers such as State Farm or GEICO offer competitive auto insurance policies.
  3. Homeowners or Renters Insurance: Protecting your home or personal belongings is crucial. Homeowners insurance covers your property, while renters insurance safeguards your possessions. You can explore options with providers like Allstate or Liberty Mutual.
  4. Life Insurance: If you have dependents or loved ones who rely on your income, life insurance is necessary. It ensures they are financially secure in case of your untimely demise. Companies like Prudential or MetLife offer diverse life insurance products.
  5. Disability Insurance: Your ability to earn an income is one of your most significant assets. Disability insurance provides a safety net if you cannot work due to injury or illness. Consider options from companies like Guardian or Principal.
  6. Umbrella Insurance: This is an often overlooked but valuable policy. It offers extra liability protection beyond the limits of your other insurance policies, providing a safety net for unexpected, high-cost events. Consider Umbrella insurance like an added gap coverage – especially important if you have driving-age children, work from home, sponsor children, and more.

Insurance Policies to Consider Skipping:

  1. Extended Warranties: Extended warranties on appliances or electronics are often unnecessary, as they duplicate manufacturer warranties. Save your money and rely on the manufacturer’s coverage.
  2. Pet Insurance: While pet insurance can be beneficial in specific cases, for many, it may not be cost-effective. Check with a trusted insurance advisor who will give you honest feedback based on the type of pet you have, its age, its health, or even its breed. They can tell you if exploring pet insurance makes sense at this time or if you should consider setting up an emergency fund for your pet’s unexpected medical expenses instead.
  3. Mortgage Insurance: If you have a conventional mortgage and make a substantial down payment, you may not need mortgage insurance. Check with your lender to understand the requirements.

It’s important to remember that your insurance needs can vary based on your individual circumstances. What’s essential for one person may not be as crucial for another.

Now, as you consider your insurance needs, take action to protect your financial future. Connect with experts at Bialke Insurance Agency, who can provide you with personalized guidance and the right insurance solutions.  We may not offer coverage in every circumstance (like health insurance), but we can provide you with local trusted resources we have at our fingertips and are happy to provide the referral for you.

Start with a visit to Bialke Insurance Agency’s website to get started on your journey toward comprehensive insurance coverage and financial security.

You need to make informed decisions about your insurance choices and safeguard your health, assets, and loved ones with the right policies while discerning where to save money. Your financial future will thank you for it!

Explore more

Back To Top
Bialke Agency Logo
Thomas Allen professional headshot

Licensed Sales Professional

Thomas Allen

Thomas graduated from Winona State University with the intention of pursuing a career in insurance.

That decision was based on a passion to be a part of an industry that helps people in their time of need. He wants to be able to provide peace of mind so the clients he serves can live their lives worry-free.

In his free time, Thomas likes to watch college football, play guitar, and golf, and attend concerts with friends. He also enjoys just hanging out with his two puppies — Mauser and Jojo.