Insurance other than life insurance is commonly referred to as general insurance. Insurance of property against fire, burglary etc, personal insurance such as Accident and Health Insurance, and liability insurance which covers legal liabilities are all part of it. Professional indemnity insurance is another type and is meant for the professional. Under this contract, the insurance company agrees to compensate the insured for a loss that may occur in exchange for payment of premium.
Some general insurance is required under law. The following are the common types:
1. Home insurance covers home and property from loss caused by theft, fire, earthquake, flood, or other disaster.
2. Renters Insurance can be availed by tenants for protection of property owned and stored in rental premises.
3. Medical Insurance is a contract between the insured and the insurance company. The insured pays the premium and the insurance company pays the medical expenses of the insured.
4. Auto Insurance - Provides liability cover for bodily injury or damage caused by the operation of a vehicle. It is illegal to operate vehicle without auto insurance.
5. Travel Insurance covers any contingencies during travel.
6. Professional indemnity insurance - Protects professionals against claims of professional negligence. It is mandatory in some states for certain professions.
Most general insurance policies provide standard coverage. Some insurance companies may provide customized coverage. Some form of coverage is required for every family. It is a must for all in today's world.
You will save more by visiting a minimum of three insurance quotes sites.
Some general insurance is required under law. The following are the common types:
1. Home insurance covers home and property from loss caused by theft, fire, earthquake, flood, or other disaster.
2. Renters Insurance can be availed by tenants for protection of property owned and stored in rental premises.
3. Medical Insurance is a contract between the insured and the insurance company. The insured pays the premium and the insurance company pays the medical expenses of the insured.
4. Auto Insurance - Provides liability cover for bodily injury or damage caused by the operation of a vehicle. It is illegal to operate vehicle without auto insurance.
5. Travel Insurance covers any contingencies during travel.
6. Professional indemnity insurance - Protects professionals against claims of professional negligence. It is mandatory in some states for certain professions.
Most general insurance policies provide standard coverage. Some insurance companies may provide customized coverage. Some form of coverage is required for every family. It is a must for all in today's world.
You will save more by visiting a minimum of three insurance quotes sites.
About the Author:
Get more tips at Cheap Auto Insurance and Cheap California Auto Insurance. Chimezirim Odimba writes on financial matters.
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