General Insurance is a type of insurance that covers properties under fire, burglary, theft. Personal insurance covers health, travel, accidents, and liabilities under legal proceedings. Overall, the general insurance covers all types of insurance except Life insurance. Common forms of general insurances are motor, fire, travel, health, accidents, and all other forms of non-life insurances.
General Insurance does not have a coverage for your entire lifetime, unlike life insurance. The duration generally lasts for an economic year or on an annual contract basis. There a few general insurance products, which offer insurance for a longer period.
Which Plan Do You Own If Any?
I own a motor insurance as it offers me benefits to protect my vehicles against all kinds of disasters and natural calamities. The motor vehicle offers protection against the damages to the vehicle and pays the liability determined by the third party. Except protecting my vehicle against the damages, I took up the insurance plan, as according to the motor vehicle act 1988, a motor vehicle without insurance plan is an offensive and punishable act. According to the law, the owner of the vehicle is responsible for any damages to the third party or property by the owner of the vehicle.
Comprehensive motor insurance would include personal accidents and liability only policy in addition to own damage cover in a policy. There are several types of motor insurance such as car insurance, two wheeler insurance, and commercial vehicle insurance.
I get some handful attractive benefits from the insurances such as roadside assistance, cashless servicing at the nationwide cashless network garages, personal accidents coverages and other towing assistance.
I am also aware of the fact that I cannot claim the motor Insurance for the wear and tear due to the age of the vehicle, periodic depreciation, electrical breakdown of the vehicles, unlawful activities involved.
Why Should You Buy General Insurance?
Surprises are inevitable. Whether they are good or bad, you have to face them at some point on your life. Therefore, why do you want to take risks for unpleasant surprises when you have general insurance option with you to deal with the surprises?
General Insurance helps to mitigate any kinds of financial losses caused to the assets you value the most. It offers financial assistance to your vehicle, persona accidents, health, and travel. Different kinds of insurances provide different coverages for your assets which can be compared on Coverfox.com before buying.
Motor Insurance – Motor Insurance covers all damages and liabilities to a vehicle against various on and off road emergencies. The insurance provides protection for manmade damages, natural damages, and damages caused by the act of terrorism. Accidents will have both financial and physical losses. Motor insurance helps you protect them against all kinds of losses.
Health Insurance – With the increasing health and medication costs, there will be a need for health insurance to cover the medical expenditures. It mitigates the financial risks and ensures a healthy lifestyle for you and your family.
Travel Insurance – International travels such as vacation or business can turn into a nightmare if one loses luggage, flight delay, medical emergencies etc. It covers all medical and non-medical related emergencies.
Home Insurance – Home is treated as the most important possession in India. Home insurance protects the house and in-house contents. It protects against all kinds of natural calamities, man-made disasters and threats to your house. Secure your house today with the home insurance.
Commercial Insurance – It encompasses solution for all sectors of industry arising out of business operations. Insurance covers automobile, aviation, chemical, food, and beverages. It covers small and medium sector multinational companies.
Sometimes buyers are unsure whether the claim amounts to the buyer for a small amount or not. Therefore, people do not go for it. However, a well-developed general insurance mitigates the risk of ill health, accidents, catastrophe, and litigation. Overall, the general insurance will save you a ton of money in the long term.
General insurance has several benefits. Along with the Life Insurance, you should have insurance related to your vehicle, travels, health, home Insurance to protect yourself against all short term and long term financial and other losses.
Additionally, the general insurance comes at a very low price and you do not have to commit for a longer term to enroll to an insurance. It helps you to protect yourself and your family from all kinds of unwelcoming and unfortunate circumstances in the long term. If you secure yourself with the general insurance today, you do not have to worry about your vehicle, Travel plan, health-related expenses, home-related expenses for a few terms.