What Are Different Types Of Insurance In Market
Different Types Of Insurance
Forecasting against natural disasters like fire, floods, earthquakes etc. and man made threats like accidents, injuries, thefts and others cannot be made. Had it been possible our lives would’ve become riskless and easier. But financial losses caused by these can definitely be calculated and losses caused to life, property, business can be overcome. Read more on history of insurance
Broadly speaking today, insurance has made our lives very easier but buying the same becomes difficult because of the availability of the various types of insurance. Almost everything from life, auto, health etc. can be insured. Mentioned below are the basic insurance coverage available in alphabetical order. Although many other types are offered, the most important and highly preferred are described.
- Auto Insurance – Also called as vehicle, car or motor insurance. It is must for every state and gives protection to anyone involved in an accident along with damages or loss caused. This includes person driving the vehicle, pedestrian, associate passengers and other individual’s property and your car.
- Business Insurance – It gives protection for losses of machineries, liabilities, employees, vehicles, land etc.
- Dental Insurance – Provides financial help to the cost involved in dental care.
- General Insurance – Also called as non-life insurance policy. This type covers everything that is not included in life insurance.
- Group Insurance – This covers group of individuals who can be company employees, society members, and others.
- Health Insurance – Most widely used as it covers medical expenses.
- Home Insurance – It is also called as homeowners insurance giving covering privately owned homes and owners possessions and injuries which can occur at the home.
- Life Insurance – It is also called as life assurance and gives financial safety to the beneficiary in case of your death.
- Mortgage Insurance – Lender purchases this in order to protect them from the default borrowers.
- Travel Insurance – Provides compensation for the emergencies that might occur during a trip or travel.