Crop Insurance | Crop Insurance Quotes
Crop Insurance | Crop Insurance Quotes
Life, today, is full of risks and adventures on every step. As man has started playing with nature, natural disasters have frequented. The speedy and stressful life in this competitive world of today has become a cause of the decline in the overall health of individuals. Loss of life and property has become a commonly occurring incidence today. With the changing times, the need of risk management has increased, thus elevating the requirement for the insurance of life and property and other needful resources.
Insurance is an effective way of risk management and is defined as an equitable transfer of the risk of a loss in exchange of a premium. Every quantifiable risk can be insured. Here is a look at the different types of insurance.
Basic Types of Insurance
Health: Health insurance policies cover the costs of medical treatments for various types of diseases that threaten human life. Disability insurance is considered as a different type of insurance that aims at providing financial support to the physically disabled individuals in society. Casualty insurance policies cover accidents.
Life: Life is priceless! However, there are measures to insure' it. Life insurance policies provide a monetary benefit to the descendants of the deceased individual. They also aim at providing the insured person's family with burial and funeral expenses.
Property: Property insurance insures property, thus protecting it against threats like fire, theft or damage due to harsh weather conditions.
Credit: Credit insurance policies are meant for the repayment of loans in case of death, disability or unemployment of the borrower.
Take a look at the list of the different types of insurance.
Accidental death and dismemberment insurance: This insurance covers death and injury that results from accidents. Death that results from illness, suicide or natural reasons is not covered under this type of insurance.
Automobile insurance: Vehicle insurance as it is also called, is an insurance that covers the risk borne in traffic accidents and liabilities that can result from accidents.
Guaranteed Asset Protection insurance (GAP) comes supplemented with automobile insurance policies. The losses that vehicle insurance policies do not cover are handled by the accompanying GAP insurances.
Public auto insurance is an automobile insurance scheme owned by the government. It predominantly operates in British Colombia, Manitoba and Quebec.
See more on Car Insurance, Motorcycle Insurance and Understanding Automobile Insurance
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