Why do you need a General Insurance?

Why do you need a General Insurance?

In this era, if you want to live a risk free life, then you must have a general insurance policy. So it’s important to secure all the things that you own and value. Our valuable assests in life, such as home, business, and vehicle, are exposed to various hazards. There is a risk in every thing that you own so it is necessary that you keep your things insured and their security is provided by insurance company as per policy. General insurance covers insurance policies like burglary, theft, etc.

In addition, general insurance covers almost everything including your home, car and health.General insurance also protects you in health and accidents related issues. Paying premiums of insurance is same as depositing in a savings account as the same comes useful later when you need it most. If you didn’t think about to keep your family, property, assets safe, so you must have to focus on these things to make them safe. The main advantage of general insurance is that every things including home, car, health and other assets are protected through general insurance policy. In case of any loss of these assets, your insurance company will pay all the amount and you will not to deal with it. The foremost reason is the peace of mind provided by your insurance policy against any risk or mishap.

Why do you need a General Insurance?

Here are the main reasons that you must have a general insurance:

Motor insurance:

Even in most of states, driving without a legal car insurance is considered as illegal. Motor insurance involves protection for car and two-wheelers in physical damages from fire, theft, explosion, burglary, riots, strikes, earthquakes, flood, cyclones, accidents and malicious acts. And if you hit any person with your car, it will put you in trouble in case of accident or death. Motor insurance protects us from all demages and liability coverage to a vehicle in case of any accident on road. Having a motor insurance, insurance company will pay all demage to the vehicle. Insurance company will also pay for any third party liability according to the law. Having an motor insurance will give you a confidence to drive on the road apart from meeting a legal requirement. It is the only weapon that you could have opposed to any risk or misfortune.

The common motor insurance categories include:

  • Car Insurance
  • Two Wheeler Insurance
  • Commercial Vehicle Insurance

In General Insurance, when you purchase any type of insurance, you pay a monthly and annual premium. Throughout the insurance, the burden of loss is almost next to none as all gets covered up by the insurance policy later on. A premium amount is the amount that you pay your company insurer for insurance cover. When the insurance cover has been arranged, the insurer will send you a policy shedule. In policy shedule, the amount you have to pay is mentioned in that policy shedule. The amount you have to pay for cover certain risks is decided by insurers commercial decisions.

Health Insurance

Health care costs are increasing every year. Having a health insurance will gives you protection from costly medical bills in case of any emergency. Health insurance pay for the medical and surgical expenses. A health insurance policy is the only way to mitigate the financial risks of health issues and related medical costs. Health insurance also pay for hospitalisation expenses, ambulance charges and daily cash allowances etc. There are various of health plans provided by insurance company to protect your health and other things so you should read all insurance policy carefully to take a best decision for your safety.

The common type of health insurance include:

  • Individual Policy
  • Family Floater Policy
  • Surgery Cover
  • Comprehensive Health Insurance

Travel insurance

Travel insurance is basicaly useful for international travel. Travel Insurance protects you against misfortunes while travelling. It also provides a sum of money to the nominee of the traveller in case of death during travel. Travel Insurance will cover issues i.e loss of baggage, loss of passport, delay in flight and medical emergency etc.

Different types of travel insurance include:

  • Individual Travel Policy
  • Family Travel Policy
  • Senior Citizen Travel Policy
  • Student Travel Insurance

Property insurance

Property insurance provides financial reimbursement to the owner or renter of a structure and its contents in the event of damage or theft. It also covers property against fire and allied perils, such as flood storm and inundation, earthquake etc.