Insurance which includes insurance policies that protect your property and your financial risk, including motor vehicle, home building and contents and travel insurance is known as General Insurance.
General Insurance helps us protect ourselves and the things we value, such as our homes, our cars and our valuables, from the financial impact of risks, big and small – from fire, flood, storm and earthquake, to theft, car accidents, travel mishaps – and even from the costs of legal action against us. And we can choose the types of risks we wish to cover by choosing the right kind of policy with the features we need.
Types of General Insurance:
Motor Insurance: Motor insurance is the insurance policy for vehicles. It could include Car Insurance and Two-Wheeler Insurance. All the damages and liability to a vehicle against various on road and off road emergencies is all covered by Motor Insurance.
Health Insurance: Health Insurance is designed to ensure if you need medical treatment in the future. You don’t have to worry about the cost that you’ll have to pay for the treatment. If you’re being treated at a private hospital, Health Insurance will pay all or some of your bills.
Marine Insurance: Marine Insurance is provided to ships, boats and most importantly, the cargo that is carried in them. As per your needs, requirements and specifications, an appropriate type or types of marine insurance can be and selected to be put into operation.
Fire Insurance: This policy covers the financial loss which the insured may suffer due to the destruction of or damage to his/her property or goods, caused by fire, during a specified period of time. The policy specifies the maximum amount, which the insured can claim in case of loss. The loss can be ascertained only after the fire has occurred.
Home Insurance: Home insurance protects your home and the items inside it. A home insurance policy would also cover natural and man-made circumstances. The contents that are covered under a home insurance policy depends on the type of policy you buy.
Travel Insurance: Another popular type of Insurance is Travel Insurance which covers your trips abroad. Travel insurance can be taken to cover loss or theft of your valuables as well as documents. Travel insurance can be taken for personal as well as business trips.
