Health Insurance vs. Car Insurance

Asked July 8, 2013, 5:37 PM EDT

How are health insurance and car insurance similar and different?

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2 Responses

Car (auto) insurance is similar to health insurance in a very important way: both types of policies provide protection against financial losses. Both types of insurance also help policyholders cover large costs, like those experienced in unexpected car accidents or major medical procedures such as surgery, chemotherapy, expensive tests, or hospital stays.

Health insurance often provides a wider range of benefits than car insurance, however. Car insurance will not pay for routine expenses, like oil changes or new tires, etc. Health insurance often helps pay for both high-cost expenses and routine screenings and check-ups. No health insurance plan covers everything though, so it is important to shop around to see what each option provides to best meet your health care needs.

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