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If you are working so hard to build your financial security, you probably also want to protect it in case something unfortunate happens. This is how we came to have insurance to secure our valuables, health, and even life.

Unfortunately, accidents can happen at all times and it is not much you can do about it. Most of the time, these accidents also lead to financial losses, which can put a strain on your everyday life. However, if you are well insured, you will be able to overcome these potential financial struggles much easier by protecting your house, car, home, or business.

When we think of insurance, the first policies that come to mind are the ones that cover a person’s life, health, business operations, vehicles or properties. However, these are just the tip of the iceberg and, truth be told, there is now an insurance policy for anything you wish to protect. What’s more, people also pay for custom policies to cover their unique needs and protect their special assets.

Still, some of these lesser-known policies can end up being very helpful at the right time, so it’s best that you have at least some knowledge of their existence. This is why, below, we will be tackling a few overlooked insurance policies that can turn up to be money- or even life-saving in some situations.

Bobtail insurance

If you are working in the trucking industry, you probably already know you need trucking insurance. This type of insurance protects you and your load against liability in case you get involved in an accident. But what happens if you cause an accident while driving the truck without a trailer? In this case, unfortunately, trucking insurance won’t be enough to protect you against liability.

If you want to be covered in case you are involved in an accident while driving a trailer-less truck, you will need to purchase bobtail insurance. This type of insurance is liability-only and protects potential financial losses when driving a truck on someone else’s authority and without a load.

On average bobtail insurance costs about $360 a year and can get you up to $1 million in coverage. This can, of course, vary based on specific factors, so be sure to ask your insurer about it.

Bicycle insurance

If you are passionate about cycling, you probably made quite an investment in your hobby. High-end bikes can cost as much as a car, so we understand the thought of something happening to it can be hard to digest.

To protect your investment and make sure your hobby does not turn into a costly adventure, it is best that you start looking for bicycle insurance. This type of insurance can cover liability, damage and loss, which may not be included in traditional homeowners’ insurance policies. This will give you some piece of mind knowing you won’t have to take out a lot of money to replace your bike in case something happens to it.

Key person insurance

Business insurance is mandatory and entrepreneurs know that already. However, business insurance only covers liability, damage and other objective factors that may jeopardize the safety of your business. But what happens if you lose a person that is key to your company’s wellbeing?

This is where key person insurance comes into play. This type of insurance is, essentially, life insurance on a person that is central to your business operation. If the person dies unexpectedly, the company will receive payout to minimize potential financial damage.

Key person insurance is designed to help businesses stay afloat while searching for a person to replace they key employee. If the business can not run without the person in case, the policy can be used to close the business neatly.

Cyber insurance

With so many things happening on the internet right now, it is only natural that people and businesses are looking for ways to protect themselves from potential cyberattacks. If a business suffers a cyber incident, it can end up costing them more than they can ever pay, plus some lawsuits to top everything off.

If you think your business can’t be the subject of a cyberattack, you may be in the wrongs. While it is true that start-ups and small to medium companies are the main target of small cyberattacks, large-scale breaches usually happen to large companies that hold important data.

By purchasing cyber insurance, businesses can get liability cover in case of a potential breach and avoid the huge costs of the aftermath. When it comes to costs, cyber insurance may not be the most affordable one on this list. Still, when you take into consideration that cyberattacks can end up costing businesses over $2 million, a few thousands of dollars a year suddenly don’t seem that much.

Errors & omissions (E&O) insurance

Human error can happen any moment, but when a business’ error may affect the wellbeing of their clients, it may have to face severe financial and reputational consequences. Fortunately, E&O insurance can help companies handle part of these costs.

This is a type of liability insurance that protects businesses from having to cover the full costs of a client claim. It is suited for companies in the advice-giving and service-providing industries, such as brokers, financial advisers, investment advisers, engineers, and contractors.

Food Truck insurance

Cars and restaurants all need to be covered by separate types of insurance, but what happens when you’ve got yourself a restaurant on wheels? Which of the two will cover it? The answer, unfortunately, is none.

Food trucks have become very lucrative businesses and owners are responsible for protecting it from any potential damage or liability. This is why insurance companies developed food truck insurance policies that cover situations specific to food truck businesses. In some cities, this type of insurance is mandatory if you want to receive a street permit for your food truck, so make sure you don’t overlook it.

In terms of costs, you can expect to pay anywhere from $500 to $2,000, depending on the type of coverage you want to purchase. This can include general liability, commercial auto, business owner, or worker’s compensation insurance.