Insurance

Insurance
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. Insurer, in economics, is the company that sells the insurance. Insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.

The Role of Insurance in Your Financial Plan
Your financial planning isn't complete until you assess and address your insurance needs. This article describes different types of insurance and suggests ways to make sure you are adequately covered.
Before You Start
Gather -- and read -- copies of all your insurance policies that are currently in effect (home, auto, life, long-term care, etc.).
Look into insurance coverage, including discounts, that may be available through your employer.
Find out if your home or business is located in a community that participates in the Federal Emergency Management Agency's National Flood Insurance Program.
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Topics
The Role of Insurance in Your Financial Plan
What Are Your Insurance Needs?
Auto Insurance
Homeowner's Insurance
Liability Insurance
Life Insurance
Disability Income Insurance
Health Insurance
Long-Term Care Insurance