7 Thoughts on what kind of insurance is a person required to have?
  1. Reply
    ittybittyspider
    January 1, 2013 at 1:35 am

    You need auto insurance and health and dental insurance and should have renter’s insurance, especially if you live in an apartment because someone else’s carelessness can cause you to lose everything you own.

  2. Reply
    Nitram
    January 1, 2013 at 2:17 am

    You don’t actually REQUIRE any unless you drive.

  3. Reply
    cat lover
    January 1, 2013 at 3:07 am

    Unless you have a car, then none. But required and advised are two different matters.

    Health insurance, if not provided by an employer is almost a necessity. For instance, a doctor or hospital settles an insurance bill for about 1/3 what you would have to pay as an individual without coverage, assuming the doctor was part of the insurance network. And your insurance would pick up the majority of that 1/3 cost. A broken arm can cost many thousands of dollars in medical costs, and that gets expensive if you do not have insurance.

    If you are a renter, renters insurance protects your belongings, and is inexpensive. Remember, the landlord doesn’t care if your property is destroyed, only the building. But it is not required.

    If you are a homeowner, you will be required to have homeowners insurance. That protects the mortgage company, and you from liability. If someone fell on your sidewalk, that is not something you want to defend by yourself. If no mortgage or other lien, then you can risk no coverage, but that also would be foolish.

    Life insurance is rarely ever needed. After you die, what do you care?

  4. Reply
    efflandt
    January 1, 2013 at 3:40 am

    Besides auto insurance if you drive, many landlords are beginning to require renter’s insurance for liability reasons. While it is primarily to protect you from loss or theft, it also covers liability if you are responsible for damage.

    After I moved out of apartment complex someone came home at 3 AM turned on a french fryer and fell asleep. The fire burned out 6 apartments leaving a hole in the roof. I doubt if the responsible tenants had enough in their bank account to cover the damage they did.

    If/when Obamacare kicks in, you will be required to have health insurance. I never had (nor needed) dental insurance (other than 1 broken molar that I paid to remove at age 55).

    You will need money for whatever utilities are not covered by the place you live (phone/internet, electric and possibly gas and water).

  5. Reply
    Flower
    January 1, 2013 at 3:48 am

    You are not required to have any insurance except on your car in life. If you live alone you might have homeowner’s insurance or renter’s insurance against theft and damage.

  6. Reply
    StephenWeinstein
    January 1, 2013 at 4:23 am

    Car insurance is required if you own a car or drive a car. Otherwise, it is not necessary.
    Motorcycle insurance is required if you own a motorcycle or ride a motorcycle. Otherwise, it is not necessary.
    Health insurance is required if you live in Massachusetts. In the other 49 states, it is a good idea to have it, but it is not required.
    Homeowner’s insurance is required if you own a home with a mortgage. If you own a home, but there is no mortgage, then it is a good idea, but is not required. If you do not own a home, then it is not necessary or available.
    If you rent a home or apartment, then renter’s insurance may required by your landlord. Even if it is not required, it may be a good idea anyway.

  7. Reply
    mbrcatz
    January 1, 2013 at 5:23 am

    The only insurance required by law, in Massachusetts, is Health insurance. In all states except New Hampshire, if you drive, you are required to have auto insurance.

    No other insurance is required by law, except workers compensation (and not even that, in Texas), so if you want to live with NO insurance, just don’t live in MA, don’t drive a car, and don’t try to buy a house with a mortgage.

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