Insurance is a policy offered by an insurance company and adopted by the person to protect oneself against the risks like a house fire, car accident, or any miss happening like these. One can also get insurance, which gives money when oneself gets too ill to do work or to support his family if he dies. A Briefly Introduction To Insurance
Types of insurance
You cannot say that you need every insurance product in the market even if you afford that. There are multiple types of insurance policies according to our different needs. Some of them are the following:
- Home insurance
- Car insurance
- Travel insurance
- Life insurance, serious illness
Medical and dental insurance
- And the pet insurances.
These are some commonly found insurance plans; however, there are also some other types of insurance but are not such common. A Briefly Introduction To Insurance
As the name said, it is an insurance plan that covers the cost of repairing or rebuilding your house in case of an emergency like if a storm damages it, flood, fire, lightning, etc. and can save you a fortune in the long run. Well, there are limits on what the insurance cover concerning your policy. So please carefully read the papers when you are going for such an insurance plan.
Car insurance is not that simple as there are many types of car insurance. The most common are these three.
The third-party covers the passengers involved in the accident or damage caused by you to other’s property. But it does not include your loss like if your car is damaged or stolen, you have to pay for it yourself.
Third-party, fire, and theft – it covers the replacement or repairing like the third party if your car is theft or set on fire.
It covers all the above and also includes your damage, it is called comprehensive policy. A Briefly Introduction To Insurance
Travel insurance is for the person who travels a lot like more than five times a month or more. This insurance mostly covers emergency medical expenses, personal liability. Like if you are sued for damaging someone’s property or causing injury to someone. It includes the value of stolen or lost bags while traveling and the cost of delaying, canceling, or cutting short of trips.
This is essential if you want to be able to afford medical treatment when you are abroad. It is generous and can cover up to 1million dollars and will fly you home for further treatment.
Life insurance pays a sufficient amount of money to your dependant or regular payments if you die. If a person is young and healthy, then life insurance is a good value for money as it provides high cover at a relatively low cost.
It also covers the payment of your medical treatment if you are diagnosed with a severe specific illness like heart attack, stroke, or any cancer.
Private Medical and Dental insurance
Such medical insurance covers all or some cost of your medical bills if you have paid for your healthcare. It covers in-patient treatments like specific tests and surgeries. But some insurance policies include outpatient procedures such as specialists and consultants. If you have such insurance, you can ask your GP to refers you to some consultant or specialist.
On the other hand, dental insurance covers all the routine check-ups as well as dental work, including emergencies and accidents.
Pet insurance policies usually cover the cost of veterinary treatment for your pet. If you’ve such kind of breed of cats or dogs that is likely to cost a lot of medical expenses, then you might show interest in such insurance plans.
In the end, I would suggest you visit an insurance company office’s branch near you and try to get an excellent and affordable policy for your worthy life or anything precious to you!