There are a few other kinds of insurance available to people, disability insurance and liability insurance. Not as many people want or need these particular kinds of insurance, but they can be quite important.
Many people do not realize that if they are unable to work, they cannot always collect worker's compensation or disability income through Social Security. The only people who are entitled to worker's compensation are those injured on the job. The requirements for collecting Social Security disability payments are quite strict, and few people qualify. Therefore, unless an employer provides short and long-term disability coverage to its employees, a private disability insurance policy can be quite a good thing to have.
Liability insurance is important for people who are doctors, lawyers, therapists, and contractors. This insurance covers what is called "malpractice," which means that the person covered has made done something wrong in the delivery of a service and is liable for the error. Other kinds of liability insurance are often covered under homeowners' policies, so that if someone slips and falls on your sidewalk, the liability is covered.
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