Common types of personal insurance include health insurance, auto insurance, homeowners or renters insurance, and life insurance. The right mix depends on your lifestyle, assets, and financial goals.

Coverage amounts depend on factors like the value of your assets (home, car), your income, debts, and your family’s needs. For example, home insurance should cover the full replacement cost of your house, while auto insurance should meet your state’s minimum requirements and protect you from liability.

Premiums are influenced by your age, location, credit score, claims history, and the type and amount of coverage you choose. For auto insurance, factors like your driving record and vehicle type also matter.

Contact your insurance company as soon as possible. They will guide you through the claim process, which usually involves submitting details about the incident, providing photos or reports, and working with an adjuster to assess the damage and payout.

It’s a good idea to review your personal insurance policies at least once a year or after major life events such as moving, getting married, buying a home, or having a child. Regular reviews help ensure your coverage still fits your needs and that you’re not paying for unnecessary coverage or missing important protections.