| Whole Life Insurance | Lifetime coverage with fixed premiums | Builds guaranteed cash value | Cash value can be borrowed against | Pays tax-free death benefit | Higher premiums than term life |
| Universal Life Insurance | Flexible premiums and death benefits | Accumulates interest-based cash value | Policy may lapse if underfunded | Useful for estate planning | Options: indexed or variable accounts |
| Disability Insurance | Replaces income if you can’t work | Short- and long-term policies | Premiums based on risk factors | Elimination period before payout | Own vs. any occupation matters |
| Long-Term Care Insurance | Covers nursing home or home care | Activates after 2+ daily task limits | Standalone or life insurance rider | Protects retirement savings | Premiums increase with age |
| Homeowners Insurance | Covers dwelling and belongings | Includes liability and loss-of-use | Perils: fire, theft, windstorm, etc. | Excludes flood and earthquake without riders | Mortgage lenders usually require it |
| Renters Insurance | Covers personal property in rental | Includes liability coverage | Pays for temporary housing if displaced | Low premiums; excludes structure | Often required by landlords |
| Auto Insurance | Covers vehicle and third-party damage | Includes collision, comprehensive, liability | Rates depend on vehicle and driving history | May offer roadside rental add-ons | State minimums required by law |
| Motorcycle Insurance | Liability, collision, and accessory coverage | Higher risk usually means higher premium | Covers medical and uninsured motorist | Can be seasonal or year-round | Required in most states |
| Boat Insurance | Covers boat damage and liability | Includes medical and towing coverage | Excludes wear and improper use | Premium varies by size/use | Required by lenders/marinas |
| Umbrella Insurance | Extends liability coverage above base policies | Covers lawsuits, injuries, and property damage | Kicks in after other insurance is maxed out | Minimum primary coverage required | Cost-effective for added protection |
| Flood Insurance | Covers overland flood damage | Not in standard homeowners policy | Offered through NFIP or private market | Separate policies for structure/contents | Required in flood zones with mortgage |
| Earthquake Insurance | Covers damage from seismic events | Separate from homeowners policy | High deductibles and location-specific | Includes debris and loss-of-use | Essential in high-risk areas |
| Pet Insurance | Pays vet bills for illness/injury | Accident-only or full coverage options | Excludes pre-existing conditions | Premiums based on age/breed | May include wellness add-ons |
| Identity Theft Insurance | Covers recovery from ID theft | Includes legal fees and lost wages | Helps with account and credit restoration | May be bundled with other policies | Monitors credit and alerts you |
| Travel Insurance | Trip cancellation and delay coverage | Medical and evacuation benefits | Includes baggage loss/delay | Optional add-ons for activities/rentals | Best for prepaid or international trips |
| General Liability Insurance | Covers bodily injury and property damage to others | Includes personal/advertising injury claims | Pays legal fees and settlements | Often required for leases and contracts | Foundational policy for all businesses |
| Workers’ Compensation | Covers medical and wage replacement for injured employees | Mandatory in most states with employees | Includes employer liability protection | Premiums based on payroll and industry risk | Reduces risk of employee lawsuits |
| Cyber Liability Insurance | Covers data breaches, hacking, and ransomware | Pays for notifications, legal defense, and PR | Includes third-party liability for lost client data | Crucial for online and data-driven businesses | Rising demand due to increasing cyber threats |
| Business Interruption Insurance | Replaces income lost during a covered shutdown | Covers ongoing expenses and lost profits | Trigger is physical damage to business property | Essential for disaster planning and recovery | Often added to property insurance |
| Professional Liability (E&O) | Covers service mistakes or omissions | Includes legal defense for negligence claims | Does not cover bodily injury/property damage | Required for consultants, advisors, professionals | Helps with contract compliance |
| Commercial Auto Insurance | Covers business-owned vehicles for liability and damage | Includes collision, comprehensive, and medical | Covers employees using personal vehicles for work | Premiums vary by vehicle type and use | Mandatory for business-related transport |
| Product Liability Insurance | Covers injury/damage from faulty products | Applies to manufacturers, distributors, and sellers | Covers legal defense and payouts | Important for physical product businesses | Often required for retail partnerships |
| Directors & Officers (D&O) Insurance | Protects directors/officers from personal lawsuits | Covers mismanagement, fraud, and breach of duty claims | Includes legal defense and settlements | Required by boards, investors, or lenders | Protects personal assets of executives |
| Employment Practices Liability (EPLI) | Covers wrongful termination, discrimination, and harassment claims | Pays legal defense and settlements | Grows in importance with rising employee litigation | Premiums based on HR policies and employee count | Complements D&O and workers’ comp |
| Key Person Insurance | Life/disability policy for vital employees | Business receives payout upon key person’s loss | Helps sustain operations or recruit replacements | Reassures lenders and investors | Useful in succession planning and buy-sell agreements |
| Commercial Crime Insurance | Protects against employee theft and fraud | Covers embezzlement, forgery, and scams | Can include third-party crime protection | Essential for finance-handling businesses | Often excluded in general liability policies |
| Inland Marine Insurance | Covers movable property and equipment | Used for construction tools, art, and mobile assets | Includes builder’s risk and equipment floaters | Fills gaps in standard property coverage | Named for land transport, not water |
| Environmental Liability Insurance | Covers pollution-related cleanup and liability | Includes third-party bodily injury/property damage | Required for high-risk industries (e.g., manufacturing) | May include regulatory fines and business interruption | Often excluded from general liability policies |
| Cargo Insurance | Covers goods lost or damaged in transit | Used for land, air, and sea shipments | Includes theft, weather, and mishandling | Required for international logistics/trade | Policy can be all-risk or named peril |
