What are the different types of Insurance?

         Liability Insurance.  Many people and businesses have liability insurance to cover them for their negligence and liability for another's personal injuries.  This comes in the form of homeowner's insurance, automobile liability insurance, commercial liability insurance, to name a few.  Liability insurance is designed to compensate you for your injuries and damages caused by the insured person's acts of negligence.

         Medical Insurance.  Many homeowners and business insurance policies contain clauses to provide limited medical benefits for people injured on the property regardless of fault.

         Compulsory Insurance.  Compulsory insurance law for automobiles so that each vehicle on the road has liability insurance of $25,000 per person and $50,000 per accident, plus $10,000 to cover another's property damage.  In addition there is a minimum PIP (personal injury protection) that provides at least $10,000 per person in medical and lost wage protection regardless of fault for the accident.  Therefore, your medical bills would be paid if you were a passenger in a care involved in an accident.