For the cheapest, almost "disposable" radio it's hard to beat the Baofeng UV-5R[1] at $30. However they aren't the most reliable and they tend to be pretty spotty in terms of how clean they are(broadcasting on frequencies other than you're transmitting). They're also a total PITA to program, but for emergencies you can put them on 146.520(national calling frequency) and leave it there.
A little step up from that is Yaesu's FT-60R[2]. It's a lot more robust, easier to program and generally much more solid. It also costs a fair bit more($180).
I usually carry a Yaesu VX-8DR[3] however it's overkill for most people. I mostly have it because you can drop it into a few feet of water without issue and it does APRS so I can send "text" messages and see status of other APRS beacons near me. It's also pretty darn expensive at $370.
All of these will also receive FM radio, NOAA radio and any of the un-encrypted Fire/EMS/Police bands so that's handy as well.
With a handheld tranciever the best you can look for is 2-5mi depend on terrain between who's receiving you. If you've got a repeater nearby, those tend to be ~100W(as opposed to 5W HTs usually do) and positioned well. Usually they cover anywhere from 30-100mi(we've got one in Centralia that I can pick up from Portland to Seattle).
Regular radios start in the 25-100W range and get out 10-30mi depending on terrain but those are usually a lot more involved to setup. One nifty thing is most dual band radios these days will do cross-band receiving so you can put your HT on 70cm and have it retransmit via the larger radio on 2m. If you have it setup in your car that's a nice setup for a quick an dirty repeater.
Baofengs are not actually cheap. They inexpensive af, but they are not "cheap" in that sense of the word. They're actually $200 radios being subsidized by the Chinese government to compete directly with the Japanese electronics industry. I've got like seven of those things. Those, and Morakniv knives.
Also the Yaesu FT-60 (2m/70cm) or FT-270 (2m) are absolutely, positively indestructible units made for professional use year in, year out. More than $60, but not obscenely so - somewhere around the $150 mark, methinks.
It would often make sense to have two units, by the way. (Oh, and by all means get a licence - it is not difficult, and it gives you opportunity to learn how to use the device before you need it...
Second on the FT-60. These things have a remarkable amount of functionality built into them, are built like tanks, and can access their full range of features without a programming cable and PC. They can also receive a very wide range of frequencies outside of the ham bands.
The FT-60 can also be modified to transmit on other radio service bands (like FRS/GMRS/Marine VHF), though it is only legal to transmit on those bands with non-type-approved hardware in honest-to-god emergencies.
I always cringe at the prepper types who boast about how much they spend on their arsenal, but cheap out on radio gear. Realistically, cooperation ensures the best chance of survival. A good radio and an aftermarket whip antenna will be more useful in all situations besides the end of the world.
I'm happy with my Yaesu VX-6R, bought it 11 years ago, same day I got my license. Incredibly sturdy and amazing build quality, submersible to 1 meter, die-cast aluminium and O-ring sealed ear-plug/antenna connections. There are some new models now with more digital features. https://www.yaesu.com
I could be wrong, but I thought that you needed a license only to broadcast, and you could own a ham radio and listen without a license. You can certainly buy all sorts or radio gear without a license.
This is correct. You do not need a license to possess any ham equipment - including equipment that is capable of transmitting. All ham communications are explicitly public, and there is nothing wrong with listening in.