Auto

• States require that drivers carry liability insurance to pay for injuries or property damage that they may cause. For additional monthly premiums, auto insurance can also cover damage to your vehicle.
  
  

Health

• Health insurance pays medical expenses. Many health insurance plans require a co-pay, either a set amount or percentage that you pay when you visit a doctor or fill a prescription.
  
  

Homeowners

• Homeowners insurance covers your home, in case of a disaster such as a fire, and your belongings inside. Renters insurance covers only your belongings.
  
  

Disability

• Disability insurance pays a percentage of your income if you aren't able to work because of a serious illness or injury. Coverage usually begins after a waiting period.
  
  

Life

• Life insurance pays your family if you die. This is especially helpful in providing for your spouse and children if you are the major source of income for your family.