Now that you have your car, is getting the right insurance really that important? Yes. Besides the legal requirement, the benefits of quality coverage can be directly felt during car accidents or vehicle emergencies.  But what gives a driver the edge on car insurance premiums? Often, insurer calculations are computed based on the factors that might affect your future claims. There are numerous factors they may consider in deciding the cost of an individual policy.

As an employee an extended absence from work may result in more than depleted sick time or vacation days. You may lose income, and it may not be a result of your own illness. If you are a business owner or employer, you are also effected by the absences of your employees, whether or not you provide benefits.

Smokers have been shown to take more sick days per year than their non-smoking counterparts, even when high-risk, high-stress or other difficult occupations are taken into account. On average, a smoker loses 8 to 11 days of work. Whether directly related to the effects of smoking or otherwise, the bottom line points to a potential loss in income to a smoker, and productivity losses by his or her employer.

Education advocates regularly cite findings that have consistently shown education being correlated with greater income. However, this finding also extends into individual health. Researchers at the National Bureau of Economic Research (NBER) note those with greater education and wealth tend to live longer than those lacking education and material resources.

The US Census Bureau recently reported that median household income has increased between 2005 and 2006, and less Americans are living in poverty. In addition, more people are working more hours. For instance, the average work week in California is about 55 hours and 12% of workers have more than one job. Couple this level of work activity with the overall stable economy (albeit recent events in the housing and lending markets), and low unemployment rates, it appears as if Americans are relatively prosperous.

You probably already have coverage for personal items through your homeowners, condominium, or renter’s insurance. However, if you have a number of expensive or unique items of significant value, the coverage may be minimal compared to the value of your goods.

Credit insurance provides coverage in the event you are unable to pay debt related to a credit line you accepted in the past, whether a mortgage, refinanced loan, or credit card. This form of insurance and what it provides is not well known to most consumers, so they typically don’t seek out the coverage. It is usually offered by lenders during the application process, and has recently come under fire due to its predatory use in the subprime lending market.

When you run a business, you have created a system in which your products or services can generate revenue, keep your employees working, and make you profitable. But at any time, there may be an accident, mishap, emergency, or conflict that threatens your business’s viability. If you are a business owner or operator, you should have business insurance coverage to protect you from liability related to your business or damages that affect your business systemically.

If you buy a condominium or are renting an apartment or home, you have different options for home insurance policies. However, you can still expect similar protection of your home and/or its contents

After understanding the four different areas of coverage in a typical homeowners policy (see “Insurance for Any Home”), it is important to learn about the different types of coverage. The types vary depending on the type of home you have (house, condominium, or rental unit), and on the level of desired coverage you want for your home, its contents, liability protection, and other costs.