When it comes to insurance, there are many different kinds. There is personal insurance, there is homeowner’s insurance, car insurance, health insurance, insurance for precious items, and the list goes on. The basic idea of insurance is to pay a monthly amount to have a certain amount of coverage to pay for any damage done to the items insured. For your health, this would mean paying a monthly insurance bill and in the case that you broke an elbow, you would be covered for let’s say $50,000, meaning you could have a $50,000 surgery or procedure covered by your insurance …