In today’s era, uncertainty has become a part of life. You might take as many precautions as you want, but certain unwanted situations can always take place. These situations can be anything related to your health or your possessions like car, mobile, house, etc. Due to any human-made conditions or natural disasters, you can suffer losses on various accounts. During such situations, an insurance policy is something that you can rely on and reduce the monetary damage.
Although insurance policies cannot prevent any unfortunate incident, they can help you minimize the losses suffered due to such incidents. Whether you buy an insurance policy online or offline, having an active insurance policy is a must. Insurance policies are generally available in different types and categories. The two main categories in insurance policies are life policies and non-life policies. Life policies are the ones that deal with the life of the individual. On the other hand, non-life policies are the policies that deal with all other adversities that can occur. These non-life policies are called general insurance policies.
Here will discuss different types of general insurance policies.
Health Insurance:
Health insurance covers all the medical expenses of a person when he/she gets hospitalized due to any illness or accident. Not mere disease or accident, but it also covers situations like an annual health checkup, daycare procedure, psychiatric support, and other health-related issues. The health insurance premium is based on the individual’s age, health history, genetic disorders, or any different situations similar to that.
Travel Insurance:
Travel insurance cover the losses suffered while traveling to domestic or international locations. Situations such as loss of baggage, hijacking, medical expenses, loss of passport, or other travel-related conditions requiring settlement are covered by travel insurance. The insurance company also compensates even any accidental death during the travel. Some insurance companies also allow the travel insurance policy to be free of any deductibles; in this situation, the company will cover all the expenses.
Motor Insurance:
Motor insurance policy is further classified into two types that include third-party insurance policies and comprehensive policies. A third-party insurance policy covers the damage caused to another vehicle due to your vehicle. An insurance company settles any damage caused to another vehicle by your vehicle because of the accident.
Marine Insurance:
Marine insurance policy helps cover the losses caused due to transportation to goods through cargo ships to national and international locations.
Home insurance:
The home insurance policy covers the losses caused due to theft, fire, or other damages. It is a cover that pays or compensates you for the damage to your home due to natural calamities or human-made disasters. It covers all the liabilities caused due to fire, earthquake, flood, burglary, or other such disasters. Some insurance companies also protect the home’s content, in-home insurance such as television, refrigerators, portable equipment, etc.
Commercial Insurance:
The commercial insurance policy covers business loss, including loss of property, professional liability, marine damage, and other such losses.
The above mentioned are some of the general insurance policies. In case you are interested in buying them, then you can contact the insurance provider, or you can buy them online.
