Safety nets can make the difference when people are suddenly confronted with unforeseen events like accidents, natural disasters and personal injury. Insurance is many people’s safety net from adverse life events, and the following are the different types of policies people can consider to safeguard themselves from the unpredictable.

Life insurance

Life insurance provides beneficiaries with a lump sum of money at the time of a policy holder’s death. Beneficiaries must be designated as such by the policy holder, who can choose between term life insurance and permanent life insurance. Term life insurance protects children and dependents for a designated period of time. Permanent life insurance comes in various forms, and is often considered by people looking to leave an inheritance for their dependents.

Disability insurance

Emergency funds are important assets when navigating accidents or injuries. Despite that, recent research from Empower found that 37 percent of Americans indicate they cannot afford an emergency expense costing more than $400, and more than half indicate inflation has prevented them from contributing to their emergency funds this year. Disability insurance can be the safety net such individuals need if they are unable to work due to accident or injury. Disability insurance typically supplements a portion of a policy holder’s income, but many plans come with a waiting period before coverage will be applied. So it’s in any working professional’s best interest to investigate disability insurance as soon as possible and choose a policy that works for them.

Accident insurance

Accident insurance policies can help policy holders pay for services that arise in the aftermath of an accident, including hospital bills, insurance deductibles and even copays. A typical accident insurance policy will offer policy holders a lump sum payout that they can use to cover whichever expenses they choose. Accidents that require extensive medical treatment can lead to expenses related to travel and lodging, and the payout from an accident insurance policy can be used to cover such costs.

Pet insurance

It’s not just people who can benefit from insurance, but their pets, too. Pet health care can be costly, particularly as pets age and their medical expenses extend beyond routine checkups at the veterinarian. A pet insurance policy typically covers costs exclusive to pet health care, like overnight stays at an animal hospital and surgical procedures. Elective surgeries may or not be covered.

Renters insurance

Many mortgage lenders require borrowers to take out homeowner’s insurance policies when purchasing a home. But renters also can take out insurance policies to protect their belongings. Structural damage to a rental will typically be covered by a landlord’s homeowners insurance policy, but renters’ possessions are unlikely to be covered by such policies, making renters insurance a must-have for short- and long-term renters.

These are just a handful of the insurance options people can look to for added peace of mind. Additional policies and coverages can be discussed with a local insurance agent.