General Insurance

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Different Types of General Insurance.

Today it is crucial to know about the different types of general insurance because of the numerous benefits they offer. Read on to know more about them:

1. Home Insurance

As the home is a valuable possession, it is important to secure your home with a proper home insurance policy. Home and household insurance safeguard your house and the items in it. A home insurance policy essentially covers man-made and natural circumstances that may result in damage or loss.

2. Motor Insurance

Motor insurance provides coverage for your vehicle against damage, accidents, vandalism, theft, etc. It comes in two forms, third-party and comprehensive. When your vehicle is responsible for an accident, third-party insurance takes care of the harm caused to a third-party. However, you must take into account one fact that it does not cover any of your vehicle’s damages.

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3. Travel Insurance

When you are travel internationally and suffer losses because of loss of baggage, trip cancellation, or delay in flight, a travel insurance policy safeguards you. You may also be offered cashless hospitalization if you are hospitalized while travelling.

4. Health Insurance

Health insurance is a vital tool for risk mitigation and helps you deal with medical emergencies. A health insurance plan covers hospitalization expenses up to the sum insured. When it comes to health insurance, one can opt for a standalone health policy or a family floater plan that offers coverage for all family members. General insurance policy is a short-term contract whereas life insurance is a long-term contract.