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Promotions are subject to availability and retailer terms. By Matt Richardson [Matt Richardson Sr. Managing Editor, Managing Your Money](https://www.cbsnews.com/team/matt-richardson/) Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. [Read Full Bio](https://www.cbsnews.com/team/matt-richardson/) [Matt Richardson](https://www.cbsnews.com/team/matt-richardson/) October 12, 2022 / 2:48 PM EDT / CBS News [Add CBS News on Google](https://www.google.com/preferences/source?q=cbsnews.com)  Insurance protects you and your loved ones in case of emergencies or accidents. Getty Images/iStockphoto Insurance policies can be a nuisance to pay each month, particularly if you're on a tight budget. Paying in advance, however, will ensure that you won't get stuck in the future. You can't prevent emergencies, accidents or death but you can make sure that you're financially protected should the worst-case scenario arise. This is why it's so important to have insurance - and the right amount - to cover you in a variety of circumstances. ## **4 insurance policies every adult should have** Here are four insurance types every adult should seriously consider getting. 1. [Life insurance](https://www.cbsnews.com/news/insurance-policies-every-adult-should-have/#c8cd1725-bce3-433f-a969-6b789860896b) 2. [Pet insurance](https://www.cbsnews.com/news/insurance-policies-every-adult-should-have/#4799a4d4-2c0e-4995-bad9-3d34e1898377) 3. [Travel insurance](https://www.cbsnews.com/news/insurance-policies-every-adult-should-have/#2fc8d4f9-a396-4a9a-bd0d-d55cba47376b) 4. [Car insurance](https://www.cbsnews.com/news/insurance-policies-every-adult-should-have/#88723741-a453-45a1-9e94-e6cea0d7fd9b) ### **Life insurance** [Life insurance](https://www.cbsnews.com/news/life-insurance-worth-it/) will protect your loved ones by providing a lump sum of money to [your beneficiaries](https://www.cbsnews.com/news/choosing-life-insurance-beneficiaries/) after you die. Payout amounts range from tens of thousands of dollars to millions, depending on what you pay and the [type of life insurance](https://www.cbsnews.com/news/common-types-life-insurance/) you have. Some working adults may already have minimal life insurance protection from their employer. Depending on their circumstances, however, that may not be enough. [Supplemental life insurance](https://www.cbsnews.com/news/supplemental-life-insurance-what-to-know/) may also be required to help fill in gaps. [Speak to a life insurance expert](https://secure.money.com/pr/wff291cddeb1) who can help you build a comprehensive plan. ### **Pet insurance** If you don't have a cat or dog then you skip this one. If you live in one of the [48 million households](https://www.avma.org/resources-tools/reports-statistics/us-pet-ownership-statistics) that have dogs or 31 million that have cats, however, then this insurance can probably save you money. For a modest fee each month pet owners can ensure that their pets are covered for a variety of medical treatments, prescriptions and some preventative measures. [There are multiple benefits to this unique insurance](https://www.cbsnews.com/news/reasons-to-get-pet-insurance-now/) that owners should be familiar with. There are also reliable ways to [get inexpensive pet insurance](https://www.cbsnews.com/news/ways-to-get-cheap-pet-insurance/). [Speak with a pet insurance expert](https://secure.money.com/pr/ha195e5ebb53) who can assist you in finding a policy that works for you and your pet. ### **Travel insurance** If you're planning on heading home for the holidays - or just looking to get away for a long weekend - it's beneficial to [get travel insurance in advance](https://secure.money.com/pr/y018cd68b3d5). Think about how much you've already paid for your hotel, flights and any planned activities. Now imagine losing all of that money in case you (or someone you're traveling with) gets sick or has an accident. It's not cost-effective to skip [travel insurance](https://www.cbsnews.com/news/travel-insurance-costs/), particularly during the pandemic when restrictions and illness are unpredictable. [It's also not expensive](https://www.cbsnews.com/news/how-to-buy-travel-insurance/) (usually around 4% to 8% of your total trip cost). So [speak with a travel insurance professional today](https://secure.money.com/pr/y018cd68b3d5) and make sure you're insured for your next trip. ### **Car insurance** This is the only policy of the four that's usually mandatory. But that doesn't mean you shouldn't [be smart about the coverage you have](https://www.cbsnews.com/news/why-car-insurance-needed-types-to-buy/) - and the price you pay for it. Car insurance coverage is influenced by a variety of factors. Accordingly, your policy can be cheap or expensive and your coverage can be comprehensive or minimal. That's why it's so important to find cost-effective but reliable car insurance. Even if you currently have car insurance it's still worth shopping around to see if you could get a better deal. [Work with a car insurance expert now](https://secure.money.com/pr/k817722ec5b6) or use the table below to find a new provider. ## **The bottom line** Just because you have insurance doesn't mean you have the right type and amount to provide you with the adequate protection you need. Do your research and shop around to make sure you have the most cost-effective and reliable insurance policies you and your loved ones need. Edited by [Jennifer Earl](https://www.cbsnews.com/team/jennifer-earl/) © 2022 CBS Interactive Inc. 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We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. By October 12, 2022 / 2:48 PM EDT / CBS News [Add CBS News on Google](https://www.google.com/preferences/source?q=cbsnews.com)  Insurance protects you and your loved ones in case of emergencies or accidents. Getty Images/iStockphoto Insurance policies can be a nuisance to pay each month, particularly if you're on a tight budget. Paying in advance, however, will ensure that you won't get stuck in the future. You can't prevent emergencies, accidents or death but you can make sure that you're financially protected should the worst-case scenario arise. This is why it's so important to have insurance - and the right amount - to cover you in a variety of circumstances. ## **4 insurance policies every adult should have** Here are four insurance types every adult should seriously consider getting. 1. [Life insurance](https://www.cbsnews.com/news/insurance-policies-every-adult-should-have/#c8cd1725-bce3-433f-a969-6b789860896b) 2. [Pet insurance](https://www.cbsnews.com/news/insurance-policies-every-adult-should-have/#4799a4d4-2c0e-4995-bad9-3d34e1898377) 3. [Travel insurance](https://www.cbsnews.com/news/insurance-policies-every-adult-should-have/#2fc8d4f9-a396-4a9a-bd0d-d55cba47376b) 4. [Car insurance](https://www.cbsnews.com/news/insurance-policies-every-adult-should-have/#88723741-a453-45a1-9e94-e6cea0d7fd9b) ### **Life insurance** [Life insurance](https://www.cbsnews.com/news/life-insurance-worth-it/) will protect your loved ones by providing a lump sum of money to [your beneficiaries](https://www.cbsnews.com/news/choosing-life-insurance-beneficiaries/) after you die. Payout amounts range from tens of thousands of dollars to millions, depending on what you pay and the [type of life insurance](https://www.cbsnews.com/news/common-types-life-insurance/) you have. Some working adults may already have minimal life insurance protection from their employer. Depending on their circumstances, however, that may not be enough. [Supplemental life insurance](https://www.cbsnews.com/news/supplemental-life-insurance-what-to-know/) may also be required to help fill in gaps. [Speak to a life insurance expert](https://secure.money.com/pr/wff291cddeb1) who can help you build a comprehensive plan. ### **Pet insurance** If you don't have a cat or dog then you skip this one. If you live in one of the [48 million households](https://www.avma.org/resources-tools/reports-statistics/us-pet-ownership-statistics) that have dogs or 31 million that have cats, however, then this insurance can probably save you money. For a modest fee each month pet owners can ensure that their pets are covered for a variety of medical treatments, prescriptions and some preventative measures. [There are multiple benefits to this unique insurance](https://www.cbsnews.com/news/reasons-to-get-pet-insurance-now/) that owners should be familiar with. There are also reliable ways to [get inexpensive pet insurance](https://www.cbsnews.com/news/ways-to-get-cheap-pet-insurance/). [Speak with a pet insurance expert](https://secure.money.com/pr/ha195e5ebb53) who can assist you in finding a policy that works for you and your pet. ### **Travel insurance** If you're planning on heading home for the holidays - or just looking to get away for a long weekend - it's beneficial to [get travel insurance in advance](https://secure.money.com/pr/y018cd68b3d5). Think about how much you've already paid for your hotel, flights and any planned activities. Now imagine losing all of that money in case you (or someone you're traveling with) gets sick or has an accident. It's not cost-effective to skip [travel insurance](https://www.cbsnews.com/news/travel-insurance-costs/), particularly during the pandemic when restrictions and illness are unpredictable. [It's also not expensive](https://www.cbsnews.com/news/how-to-buy-travel-insurance/) (usually around 4% to 8% of your total trip cost). So [speak with a travel insurance professional today](https://secure.money.com/pr/y018cd68b3d5) and make sure you're insured for your next trip. ### **Car insurance** This is the only policy of the four that's usually mandatory. But that doesn't mean you shouldn't [be smart about the coverage you have](https://www.cbsnews.com/news/why-car-insurance-needed-types-to-buy/) - and the price you pay for it. Car insurance coverage is influenced by a variety of factors. Accordingly, your policy can be cheap or expensive and your coverage can be comprehensive or minimal. That's why it's so important to find cost-effective but reliable car insurance. Even if you currently have car insurance it's still worth shopping around to see if you could get a better deal. [Work with a car insurance expert now](https://secure.money.com/pr/k817722ec5b6) or use the table below to find a new provider. ## **The bottom line** Just because you have insurance doesn't mean you have the right type and amount to provide you with the adequate protection you need. Do your research and shop around to make sure you have the most cost-effective and reliable insurance policies you and your loved ones need. Edited by [Jennifer Earl](https://www.cbsnews.com/team/jennifer-earl/)