Types Of Insurance

As life is full of uncertain events; it is good idea to get insured. There are different types of insurance provided by various insurance companies. You only need to decide the perfect insurance that fits your financial plans. Given below are different kinds of insurance. Choose the one that you require and need most.

Life insurance

Life insurance is one of the most well known and common insurance. This insurance is taken against the risk of death. It provides cash benefits to the decedent's family or other designated beneficiary and may specially provide for burial and other final expenses.

Auto insurance

Another kind of insurance that is often required is auto insurance. It is typically taken against the risks of road accident. It helps cover against theft, financial loss caused by accidents and any subsequent liabilities.

Health insurance

Health insurance is taken against the risks of sickness and accidents. It covers all the medical expenses incurred because of sickness or accidents.

Property insurance

This type of insurance protects you against loss from risks associated with a variety of types of property such as houses, cars, boats, businesses etc from fire, theft or weather damage.

Disability insurance

Disability insurance provides financial help to the policy holder when he/she is unable to work due to injuries or severe illness. It gives a monthly stipend that replaces a portion of the disabled person's income.

Liability insurance

This insurance type covers legal claims against the insured. The protection given by this insurance is two fold, a legal defense in the event of lawsuit commenced against the policyholder plus indemnification with respect to settlement or court verdict.

Business Interruption Insurance

Protecting individuals and companies against various financial risks, these types of insurance also cover the failure of a creditor to pay money it owes to the insured.

Pollution Insurance

This insurance kind consists of first-party coverage for contamination of insured property either by external or on-site sources, arising from contamination of air, water, or land due to the sudden and accidental release of hazardous materials from the insured site. Covering the costs of cleanup, it may include coverage for releases from underground storage tanks.

Purchase insurance

The purpose of these types of insurance is to provide protection on the products people purchase. Purchase insurance can cover individual purchase protection, warranties, guarantees, care plans and even mobile phone insurance.