Insurance Companies

Article Highlight: Young America Mutual Insurance

Young America Mutual Insurance company is a local member-owned provider offering coverage in rural Minnesota. If you're looking for a large, nationwide insurance provider, this is not the carrier for you. However,… Keep reading »

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Insurance Companies

Insurance companies help us face uncertainties every day. Our home could be flooded. Our car could be involved in a collision. Someone in our family could become ill. Life itself is a risk. Insurance is a way to minimize our financial losses in the event of foreseeable problems.

Early Forms of Insurance

Since the beginning, people have tried to protect themselves from financial ruin. The first known insurance policies protected mariners against losses at sea. In Babylon, sea merchants purchased policies ensuring that their debt would be forgiven in the event of robbery or capture by pirates. Unfortunately, these ancient policies were offered by individuals or creditors instead of insurance companies. These individuals were often unable to pay when tragedy struck.

Insurance Today

Today the government oversees the insurance industry and helps protect the insured. Insurance companies must register with the individual states and obtain a license to sell insurance. They must submit yearly financial reports, proving their ability to cover claims.

Types of Insurance Companies

Almost anything you own today can be insured. While some companies specialize in one type of insurance, others can fill all of your insurance needs. Many companies offer discounts to individuals who purchase multiple types of coverage. Available insurance includes:

Insurance Companies Summary

Choosing an insurance company can be overwhelming. There are so many companies available, all promising different things. No matter what type of insurance you need, it pays to do the research now rather than live with regret later. LoveToKnow can help with the research process, making your search just a little bit easier.

Insurance Companies