Life of a person is of prime importance, however owing to other risks, general insurance plans are not far behind. Earlier, insurance was synonymous to life insurance but not anymore. The risks in our day to day lives are increasing thereby requiring us to consider other forms of insurance like health, motor, commercial, home and more. This is why there is growing importance of general insurance in India with the help of an insurance damages expert.
While accidents and other mishaps cannot be predicted, you can be prepared with a general insurance policy for all events other than death. Now, the question lurks, what is general insurance? To simply answer, all insurance policies that are non-life policies are classified under the broad category of general insurance. Unlike life insurance policies, these general insurance plans have a defined validity. This article elaborates on the various types of general insurance plans and their importance in ensuring financial security.
Health insurance
The most sought insurance coverage after life is health insurance cover. This general insurance plan provides financial assistance for medical treatments that are required. Medical technology in recent years has grown leaps and bounds. This has led to rise in treatment cost. With soaring medical inflation, a treatment for a minor ailment can disrupt your savings to the point of leading you in a debt trap. With a health insurance policy, these unexpected medical treatments as well as planned procedures are covered. * Standard T&C Apply. You have one less thing to worry about when it comes to your and your family’s health. At present health insurance plans are customised to fit varying needs of different age groups including coverage for critical ailments.
Motor insurance
All vehicle owners in India are mandatorily required to purchase a motor insurance policy, be it a car or a bike. This regulatory requirement by the Motor Vehicles Act makes it a general insurance policy no vehicle owner can miss. With the help of a motor insurance policy, the financial impact of accidents and damages that are uncalled and unexpected, can be insured. Depending on the type of insurance policy, coverage is available for two-wheeler and car insurance policies. A motor insurance plan covers injuries and damages to a third-party. In addition, comprehensive plans provide protection against natural calamities and man-made perils like thefts and burglaries. * Standard T&C Apply
Home insurance
The most valuable thing after your life is home for many. A home being the most expensive purchase for many, any damage to it can often mean hefty financial loss. With a home insurance policy by your side, the damages not only to the structure, but also its contents are covered under the policy scope. Be it natural disasters damaging your home or other mishaps, all of it is covered by a home insurance plan. * Standard T&C Apply
Travel insurance
People travel for work as well as for leisure. However, there are certain risks associated with it like loss of baggage, medical exigencies, flight cancellation and delays, and more. With a travel insurance policy, these different perils are insured thereby offering stress-free travels. * Standard T&C Apply
With the above described importance of various general insurance policies, it is essential to buy one considering your requirements with the help of a insurance damages expert. Also remember that insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.
