I saw in the news yesterday about this couple who were hit by a double whammy. First, a big tree fell on top of the house then that same tree also damaged their brand new truck. They are just renting the house so the landlord will take care of that part. The problem is they don't have renter's insurance to cover the damage for their properties including their new truck. I feel bad for them. That is why it is important to have homeowner's insurance or renter's insurance. If you have a homeowner's insurance, you need to ask your insurer if your valuables and personal belongings are covered in case of fire or burglary. Sometimes, only the basics are covered, like the house structure.

If you have a small to medium-sized business, you can also get an insurance for your important employee. Usually, small or medium-sized businesses will take a hit when a key employee passes away. With the death of this employee, it may be hard to replace this person because of his skills, knowledge, business relationships and contacts. This kind of insurance is known as key man life insurance.