11 October 2017

General Insurance - Explained!

Insurance has become a necessity in this day and age with uncertainties lurking around the corner at any unexpected hour casting danger on our prized possessions. With insurance, one can create a sort of a hedge in order to safeguard our property against risks. There are two types of insurances:-

-Life Insurance
-General Insurance

Life Insurance is an insurance against the death or critical illness of the insured. It is a requisite for people who provide financial support to their family and therefore have 'dependents?. General Insurance is any Insurance other than Life Insurance i.e. Non-Life Insurance.

As General Insurance includes a more extensive category of Insurance, let us explore and understand the many types of General Insurance.

Health Insurance- It protects us against exorbitant medical expenses of hospitalization caused due to old age or accident. In this case, General Insurance for your Health can relieve the financial burden on you. Many corporate companies have also invested in group Health Insurance for their employees and they also enjoy discounts due to the large number of insurances taken.

Home Insurance- The next most important thing in our life after our health is our home. General Insurance for your Home protects us against financial losses incurred due to earthquake, inundation, theft, and other perils. Home Insurance is one of the most essential General Insurance because the effects of damage or loss of our housing property can be shattering. However, it is important to insure your home for its actual value to avoid penalty during a claim.

Vehicle Insurance- Since we plan the purchase of our dream car right from our childhood, then why not plan its safety? General Insurance for your vehicle puts on a safety cover on your vehicle for accident, theft, etc. Vehicle Insurance includes cars, two-wheelers, tractors, and other transport vehicles.

In addition, General Insurance encompasses Insurance for your Travel, Jewellery, Antiques, Livestock, etc. Also, you can insure your Credit and Debit Card against fraudulent usage or robbery. In General Insurance, business property and assets can also be insured against burglary, fire, and similar risks.

To conclude, General Insurance is an all-important way to put a safety cover on your belongings against financial losses. The most important benefit of General Insurance, besides many others, is that it provides peace of mind. So, go ahead and invest in the right General Insurance plan for securing your future needs.