Which of the following is a main type of insurance people should consider?

Get more with Examzify Plus

Remove ads, unlock favorites, save progress, and access premium tools across devices.

FavoritesSave progressAd-free
From $9.99Learn more

Prepare for the EverFi Financial Literacy for High School Test. Explore flashcards and multiple choice questions, each question comes with hints and explanations to enhance your understanding. Start your successful journey to mastering financial literacy now!

Property insurance is a vital type of insurance that individuals should consider because it provides coverage for physical assets or property, such as homes, cars, and personal belongings. This type of insurance helps protect against financial losses due to events like theft, fire, or natural disasters. By having property insurance, individuals can safeguard their investments and ensure that they have the means to repair or replace lost or damaged items.

While other types of insurance, such as social insurance, investment insurance, and agricultural insurance, can also be important depending on one's circumstances, property insurance is fundamentally essential for most individuals. Property insurance addresses common financial risks that people encounter, making it a key component of a well-rounded insurance strategy.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy