February 15th, 2009 | by admin |
by Chimezirim Odimba
General insurance refers insurance other than life 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. By paying the premium under this policy, the insured can get reimbursement for any loss that may occur.
Some general insurance is mandatory. The common types of these policies are:
1. Home insurance covers home and property from loss caused by theft, fire, earthquake, flood, or other disaster.
3. Renters Insurance coverage provides protection to tenants for loss caused to property owned by tenants and stored in rented property.
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 protection against claim for bodily injury or damage caused by the operation of a vehicle. It is illegal to operate vehicle without auto insurance.
5. Travel Insurance coverage provides protection against 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 offer standard coverage. Insurance companies also offer customized coverage. Some form of it coverage is necessary for every family. It is a must for all in today’s world.
Visit at least three of such for the best results. It’s free, quick and easy. You can get quotes that will have a difference in excess of $2,000. You could conveniently save so much by simply going with the lowest insurance quote. Moreover, you know that since the likelihood of getting lower insurance quotes is has to do with the range of quotes you obtain, the more companies you obtain quotes from, the better your chances.
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Tags: generalinsurance, Insurance