General Insurance covers insurance such as burglary, property against fire, covering health, accidents, travel,and liability insurance among others. This category of insurance covers almost all forms of insurance other than life. The most common forms of general insurance are fire, motor, marine, accident, and travel among others.
The term of general insurance is not that of a life time like life insurance policies. Most of the general insurance policies are mostly annually. But make sure before you buy general insurance do compare insurance plans. There are various companies that provide the same insurance but to know who offers your required plan at the best rates you should compare the plans before you buy.
Most common types of general insurance are as follows:
- Motor Insurance: Motor insurance covers all the damage that has been done to your vehicle again on-roads or off-road emergencies. Motor insurance also covers damage against man made calamities like an act of terrorism or natural calamities like anearthquake. If you take motor insurance, then it covers the expense of repair after it gets damaged. As per determined by the law it also pays third party liability. Motor insurance includes:
- Two Wheeler Insurance.
- Car Insurance.
- Heavy Vehicle Insurance.
- Health Insurance: Desk-Bound lifestyle these days have has affected the health negatively. Thus many people sufferfrom various critical illnesses. In that case, one is adversely affected financially. Therefore it is highly advisable to have a health insurance. This doesn’t mean one should just blindly buy any health insurance; he/she must do insurance compare company check online to make sure they buy the right policy which is best suited for them. Some of the most common heath insurance policies are mentioned below:
- Family Floater Policy.
- Comprehensive Health Insurance.
- Surgery Cover.
- Individual Policy.
- Travel Insurance: Foreign holidays can turn into a disaster if one has to suffer contingencies like loss of passport, loss of baggage, medical emergency, delay in flight etc. Such incidents will take away all your fun. Thus Travel insurance is a must if you’re traveling internationally. To have a worry free travel experience one should take travel insurance in advance to avoid misfortunes. Various types of travel insurance are:
- Family Travel Policy.
- Senior Citizens Travel Policy.
- Individual Travel policy.
- Senior Citizens Travel Policy.
- Corporate Travel Policy.
- Marine Insurance:A business involves the export and import of goods within national and international boundaries. A lot of risk is involved in the movement of goods. A slight mishap can result in a destruction or damage of shipment. This may lead to notable financial losses for both the parties exporters as well as importers. Thus it is imperative to have a Marine insurance if you are an exporter or importer of goods through international borders.
These are just some of the general insurances. There are various other types of general insurances like the corporate insurance, fire insurance, rural insurance and home insurance amongothers. There are numerous companies that do general insurance but it is highly recommended that one must read about each and every product carefully before buying.