5 Key Types of General Insurance

31 Jan, 2019

5 Key Types of General Insurance

General insurance service providers provides financial protection to their customer for the policies that they purchase. General Insurance helps us to minimise the financial risks for things we value like homes, vehicles, travel, or even health.

5 Key Types of General Insurance :

Health Insurance
Motor Insurance
Travel Insurance
Home Insurance
Fire Insurance

[caption id="attachment_26521" align="aligncenter" width="640"] Health Insurance[/caption]

Health Insurance :

Health insurance covers the cost of medical care. It pays for or reimburses the amount you pay towards the treatment of any injury or illness.

Common types of Health Insurance :

Individual Policy
Family Floater Policy
Surgery Cover
Comprehensive Health Insurance

[caption id="attachment_26522" align="aligncenter" width="800"] Home Insurance[/caption]

Home Insurance :

Home insurance is a cover that pays or compensates you for damage to your home due to natural calamities, man-made disasters or other threats.

Here are common types of commercial insurance:-

Property insurance
Marine Insurance
Liability insurance
engineering insurance
Financial lines insurance

[caption id="attachment_26523" align="aligncenter" width="640"] Motor Insurance[/caption]

Motor Insurance :

Motor insurance is for your car or bike what health insurance is for your health. It is a general insurance cover that offers financial protection to your vehicles from loss due to accidents, damage, theft, fire or natural calamities.

[caption id="attachment_26520" align="aligncenter" width="642"] Fire Insurance[/caption]

Fire Insurance :

Fire insurance pays or compensates for the damages caused to your property or goods due to fire. It covers the replacement, reconstruction or repair expenses of the insured property as well as the surrounding structures.

[caption id="attachment_26524" align="aligncenter" width="640"] Travel Insurance[/caption]

Travel Insurance :

A travel insurance compensates you or pays for any financial liabilities arising out of medical and non-medical emergencies during your travel abroad or within the country. It also covers the damages caused to a third-party property due to fire.

types of travel insurance policy include

Individual Travel Insurance Policy
Family Travel Insurance Policy
Student Travel Insurance Policy
Senior Citizens Travel Insurance Policy

Above listed policies are some example of general insurance policy. There are a lot of general insurance apps which let you buy the insurance policies on the go.