Insurance, essentially is a concept, applies to a process where in, a large number of people pool money, and any one of them who pooled the money can avail the amount in case of financial emergency.

The people involved face the same risk as others.

What is General Insurance?

Fire insurance, motor insurance, travel insurance, home insurance generally come in the ambit of general insurance. The sum insured and premium depends upon the type of insurance. Such insurance protects against the theft, damage and loss of your belongings.

Types of General Insurance

Home insurance

You can get your home as well as your valuables inside insured, to protect in case of theft, burglary, fire, or any other disaster that can come unannounced. The kind of contents that can be covered, vary for different insurance providers.

Even if you are a tenant, then also you can avail the benefits of home insurance.

At the time of applying, you’ll be the details of the things, like jewellery, furniture, etc, and if you have your own home, details such as built up area, etc, you’ll be asked to mention.

Having a home insurance is important, because both – man made and natural disasters come knocking at the door unannounced. Such disasters prove to be very damaging – especially in place like India, where people actually toil day in and day out to have their dream home.

Few of the insurance providers even provide the added benefit – they cover your additional rent expense if you have to shift in case of total damage of your house.

Also, one can avail heavy discounts if opting for a longer duration.

Travel Insurance

While travelling abroad, one faces a risk of any medical emergency or even loss of baggage/ theft. Hence, to protect one from such unexpected mishappening, it is better that one should get ‘travel- insured’.

A typical travel insurance covers the following:

  • Loss of checked in baggage
  • Accident
  • Loss of passport
  • cash needs arising out of hospitalisation
  • hotel accommodation
  • home insurance

Kindly, check with the insurance provider, as what and what not a particular travel insurance cover. Generally, there are different terms and conditions applicable for the travel locations.

Motor Insurance

Vehicle, perhaps is the next thing valuable to us after home. One can insure their two, three and four-wheeler, so as to protect themselves from the expenses incurred arising out of theft or damage of the vehicle. Also, having a motor insurance also covers bodily injuries, death, physical damage.

India, is perhaps among the top most countries in the world for road accidents. Hence, ensuring protection becomes the priority.

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