What optional insurance should you purchase?

While it can be tempting to go with the minimum insurance coverage required by law to save money in the short term, there are certain optional insurance policies that might greatly benefit you in the right circumstances.

What optional insurance policies and coverage should you purchase?

Home and family

Life insurance: rarely required, but recommended for every adult as well as for any university-aged children who have significant debt, such as student loans.

Pet insurance: Vet visits and emergency care for furry family members can get pricey in a hurry. Pet insurance policies are usually affordable and might prevent you from having to decide between paying your bills and caring for your pet in a dire situation.

Identity theft restoration: Identity theft is a worsening problem. Restoration coverage will cover legal fees, lost wages and other costs related to restoring your identity.


Uninsured/underinsured motorist coverage: A standard car insurance policy only covers damage caused by the insured driver—you and whoever else is on the policy. In the case of a hit-and-run by an uninsured driver, or an underinsured driver, you can be left without reimbursement. With uninsured/underinsured motorist coverage, you will be able to get back on your feet no matter the state of the other driver’s insurance.

Gap insurance: This insurance is designed specifically for those who are leasing their vehicle or still paying off their vehicle loan. In the event of the car being totaled or stolen, it will cover the difference between what the car is worth and the amount you owe on it, preventing you from taking a loss.


Look into a business owner’s policy for comprehensive and generally customizable packages that will allow you to operate your business safely.

To learn more about these types of policies and coverage, speak with an expert at John B Wright Insurance.