Apart from fire, other accidents like lighting, explosion, aircraft damage, terrorism, riot, landslide, bush fire, storm, flood, etc. The policy covers buildings, machinery, stocks, and furniture damage in case of fire. In case of fire, collision, stranding, sinking, war, jettison, earthquake, or lighting the shipment losses are covered depending upon the stipulations mentioned in the policy. This policy insures the cargo and the shipment. Both the cargo and the transport charges are costly, and hence it is advisable to protect such valuable assets. It can be taken up by the owners of the shipment. This policy covers the loss or damage caused during the transit of shipment through marine routes. Special Policies offered: - Marine Cargo Insurance Policy Insurance Policies offered online by United India Insurance Company:Īnd many more. The later protects the mortgage payers’ in case of fire or theft.
The former protects the insured’s house in case of a natural disaster or due to unexpected damage. It can be taken by house owners and also by rent payers in the form of renter’s insurance. Just like auto insurance, property insurance is taken up by people who own valuable and most importantly, expensive assets. In this way, both the parties are satisfied without having to pay additionally. In this case, liability insurance covers up the repair charges of the opposite party, and collision coverage covers up the bills of your vehicle. It causes serious damage to both vehicles. To understand this, consider an accident that takes place between your automobile (say, a car) and another automobile. Certain auto policies include liability insurance and collision coverage. Automobiles are expensive, and thus, it is important to have a policy that protects an asset as important as this. This covers up (depending upon the policy) the repair and replacement bills. It is to be taken by automobile owners at the time of purchase. This policy can cover up the bills without pressurizing the patient further. Not everyone can afford such a huge sum of money within a short period. To pay off treatment bills, one needs monetary support and sometimes requires a large sum. Though people might be young and healthy now, they might fall sick in the later part of life. Health insurance is often looked up as an investment.
At times of crisis, such policies can be very useful. It can lend a helping hand to a person when all other options are locked. This policy, in simple terms, covers the insured’s medical bills and surgical expenses. One can take up this policy for a specific period or can take up a policy for a lifetime. There are two types of life insurance policy- terms and permanent policies. It can also pay off the debts the person had left behind in case the person passes away. Besides helping the insured, it can also be beneficial to the insured’s family by aiding their children’s studies or the family in general. Life insurance is as essential as it can pay off the medical bills in case of the insured meets with an accident or with any form of physical injury. The liability policy will pay off the opposite party, and the insurance policy will cover the insured’s bills and payments. There are certain types of policies that include a liability policy so that it also covers the damages and losses caused to the opposite party. Here are the basic forms of insurance policies that can be taken by common citizens. What are the Types of Insurance Policies?Īs stated before, there are various types of policies, and such policies have several sub-divisions among them.
0 kommentar(er)
