General insurance policy is a type of insurance policy that cover various types of commodities or properties including; homeowner’s policies and automobile policies. General insurance provides payments’ depending on the amount of loss acquired from a particular financial event. This type of insurance is referred as any insurance that is not determined to be life insurance, this is because they cover one year and then renewed thereafter. However, some people view it as a property insurance or causality insurance.
General insurance offers,offers a complete range of insurance covers, against many eventualities that may affect people such as, property damage, motor accident, fire accidents, illness, and many more. However, specific general insurance policies protect the economic values of assets and preventing substantial financial losses that has been caused by calamities or even theft.
Types of general insurance
Motor insurance; this is a type of insurance policy that secures all your rides; this includes two wheeler drive insurances, and general car insurances. Motor insurance covers all damages and liability to the vehicle.
Health insurance; this type of general insurance that provides cover to the individual without cash to settle the medical bills, health insurance shells out massive amount of money to help an individual to bear this costs that might be over-weighing him or her. This type of general insurance also includes a cashless facility in impaneled hospitals, ambulance charges, pre, and post-hospital hospitalization expense and other cost incurred because of seeking medical treatments. In this health insurance there are different types of insurance policies like; surgery cover, individual cover, comprehensive cover and family floater policy and many more. Travel insurance, this is a type of general insurance that covers an individual against any misfortunes that may occur in your abroad trips like, trip delay, accidents, loss of baggage or any other accident expense and many more.
Travel insurance also includes different types of insurance policies like; individual travel policy, senior citizen policy, family travel policy, and students travel insurance. Commercial insurance, this is a type of general insurance that offers, the solution to various sectors of industries like; aviation, textiles, transport, telecom, manufacturing, oil and gas, pharmaceuticals, construction food, beverages, automotive and logistics.
There are various types of commercial insurance such as; propertyinsurance, marine insurance, engineering energy insurance andmany more.
General insurance is the best type of insurance to apply, since it helps an individual to live a life that is risk-free, since it will cover personal life insurances and almost all types of policies like burglary, accidents,thefts and many more.