4 Types of Insurance You Never Knew About

Have you ever wondered if there’s more to insurance than just health, home, and car? Indeed, there is! Insurance is a vast and varied industry with a multitude of options you might not have stumbled upon yet. Join us as we dive into four types of insurance you never knew about, each with unique benefits and protections that cater exclusively to parents like you.

4 Types of Insurance You Never Knew About

Tuition Insurance: Securing Your Child’s Education

Did you know that you can cushion the financial impacts of unexpected events that derail your child’s academic journey? Tuition insurance exists to protect the investments parents make in their kids’ education. In the event of a sudden illness, accident, or other occurrence that causes your child to withdraw from school, tuition insurance steps in to help you recoup your otherwise lost educational expenses.

Identity Theft Insurance: Safeguarding Your Family’s Personal Information

In this increasingly digital age, the protection of personal and financial information grows ever more significant, but identity theft insurance isn’t yet universally recognized. It’s a form of assurance offering potential reimbursements for costs related to clearing your reputation and credit following identity theft. Enabling this insurance could save you from potential hours of stress and expense put into restoring your good name, not to mention the benefit of helping protect your children’s developing credit profiles.

4 Types of Insurance You Never Knew About
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Broad Form Insurance: Protecting Your Assets

Parents are often the primary asset owners in a family. From cars and homes to recreational vehicles, there’s a lot under your ownership that requires protection. Broad form insurance fits like a glove here; it’s a wider scope of auto insurance that covers multiple vehicles and drivers in the family under one policy. Broad form insurance can help you protect your assets, giving you peace of mind knowing that even if Junior takes the car for a spin, you’re covered for any mishaps.

Kidnap & Ransom Insurance: Providing Coverage for Your Travels

It’s not something any parent wants to think about, but since we live in an unpredictable world, this type of insurance can bring a sense of security. Kidnap and ransom (K&R) insurance can offer financial protection in the wake of an unimaginable incident. It helps cover the costs associated with negotiation, ransom payment, and recovery in the case of kidnapping. For parents who frequently travel or live in higher-risk areas internationally, K&R insurance can be worth considering.

What do these four types of insurance you never knew about have in common? They all help thread a safety net that is tailor-made for you as a parent. Breaking away from the conventional, these insurances reinforce your familial protection plan.

4 Types of Insurance You Never Knew About

 

Did you know about any of these 4 types of insurance you never knew about?

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