Insurance is something everyone needs but hopes to never use. Certain types of insurance may not be necessary for everyone, but other types are almost universally necessary. The following are some examples of insurance policies everyone should have.

Health insurance — Everyone needs health insurance. A recent Harvard study noted that most people are statistically one serious illness away from bankruptcy. Shopping around for adequate coverage and the most affordable plans for one’s situation is essential.

Life insurance — Life insurance leaves a financial legacy. According to the financial resource Investopedia, individuals need to factor in mortgage or rent payments, loans, funeral expenses, child care, and taxes when calculating how much life insurance coverage they need. Experts suggest 10 times one’s yearly income.

Disability insurance — Data from the Social Security Administration show that three in 10 workers entering the workforce will become disabled before they reach retirement. Short- and long-term disability policies provide partial and complete income replacement depending on the policy chosen.

Auto insurance — People who drive are urged to have auto insurance to protect themselves in the event of an accident or theft. Auto insurance also helps protect against any litigation as the result of accidents when a passenger or other driver is injured.