What Is Covered Under General Insurance?

What are the six general types of insurance?

A basic auto insurance policy is comprised of six different kinds of coverage, each of which is priced separately (see below).Bodily Injury Liability.

Medical Payments or Personal Injury Protection (PIP) …

Property Damage Liability.

Collision.

Comprehensive.

Uninsured and Underinsured Motorist Coverage..

What is not covered under general insurance?

Any damage to the car due to war, terror attacks, invasion, foreign enemy action, civil war, mutiny, rebellion, hostilities, radiation or nuclear material/weapons are not covered under a standard motor policy.

What is the general insurance policy What does it cover?

A general insurance is a contract that offers financial compensation on any loss other than death. It insures everything apart from life. A general insurance compensates you for financial loss due to liabilities related to your house, car, bike, health, travel, etc.

What are the 3 main types of insurance?

Then we examine in greater detail the three most important types of insurance: property, liability, and life.

What are the benefits of general insurance?

The general insurance financially protects your property from any damage. The general insurance plans include a policy to protect the property and anything related to your business. This can save you from facing massive financial loss due to natural calamity.

Why is general insurance important?

General insurance helps us protect ourselves and the things we value, such as our homes, our cars and our valuables, from the financial impact of risks, big and small – from fire, flood, storm and earthquake, to theft, car accidents, travel mishaps – and even from the costs of legal action against us.

What is fire insurance in simple words?

The term fire insurance refers to a form of property insurance that covers damage and losses caused by fire. Most policies come with some form of fire protection, but homeowners may be able to purchase additional coverage in case their property is lost or damaged because of fire.

What are the types of general insurance?

Following are the different types of General Insurances in India:Health Insurance.Travel Insurance.Motor Insurance.Marine Insurance.Home Insurance.Commercial Insurance.

What does general insurance mean?

Definition: Insurance contracts that do not come under the ambit of life insurance are called general insurance. The different forms of general insurance are fire, marine, motor, accident and other miscellaneous non-life insurance. … Like life insurance, general insurance products come at a price in the form of premium.

What are the 4 types of insurance?

Most experts agree that life, health, long-term disability, and auto insurance are the four types of insurance you must have.

What are the 7 types of insurance?

7 Types of Insurance You Need to Protect Your BusinessProfessional liability insurance. … Property insurance. … Workers’ compensation insurance. … Home-based businesses. … Product liability insurance. … Vehicle insurance. … Business interruption insurance.

What damage does car insurance not cover?

Repairs that result from regular wear and tear are not covered by car insurance. Other damage inflicted with malicious intent or during an accident is covered. Other people who drive the car. Only the people named in the car insurance policy – the insured — are covered.