We all know that our lives are full of risks and that’s what makes our lives full of excitement, thrill and intrigue. But there are unexpected events that can get you financially off track.

With general insurance, it will help us protect the possessions that we value and of course, ourselves, from natural disasters, thefts, accidents, costs from legal actions, and financial risks. Also, you can choose any kinds of risks that you want to have covered by choosing the right kind of policy.

What else does the insurance entail? Let’s find out.

5 Different Types of Insurances

Here are the general types of insurances:

1. Health Insurance

In most countries, healthcare costs are slowly increasing each year. When one experiences a medical emergency or critical illness, it will surely affect him or her financially. So, to help you cover the expenses in the hospital, health insurance will cover all surgical and medical expenses.

Common Health Insurance Policies:

• Surgery Coverage
• Individual Policy
• Family Floater Policy
• Comprehensive Health Insurance

2. Car Insurance

This one covers all liabilities and damages on your vehicle from on or off-road emergencies. Some policies also include covering problems from natural disasters and man-made damages.

Common Car Insurances:

• Two-Wheeler Insurance
• Commercial Vehicle Insurance

3. Home Insurance

For most of us, our most treasured belongings are our homes and one of the largest investments we make in life. Protecting the structure and the contents of our home is very crucial.

With home insurance, it both protects the structure and the things inside of it, depending on the insurance policy that you chose. It also secures it from man-made disasters and natural calamities.

4. Travel Insurance

Whether you’ve gone on a vacation in a different country or just for business purposes, there will always be a chance that it might turn into a horrible experience for you. For example, there can be the loss of a passport or baggage, flight delays, or medical emergencies.

But with travel insurance, you will be free of worry because it will cover all kinds of emergencies during your travel overseas.

Different travel insurance policies:

• Family Travel Policy
• Senior Citizens Travel Policy
• Individual Travel Policy
• Student Travel Policy

5. Life Insurance

There will always be the chance of circumstances happening where you’ll unexpectedly lose your life or become a person with a disability. With the possibility of those scenarios happening, you may be worried about your loved ones because you will no longer be able to help and protect them like before.

But with life insurance, even with your absence, the company will help secure your family’s financial needs in the event of your disability or death.

There are still other categories of insurances aside from the five listed above; these are:

• Householder
• Shopkeeper
• Property Insurance
• Personal Accident
• Fire Insurance
• Crop Insurance
• Commercial Insurance

Conclusion

While you are still active and have a thriving business, save your money for your home, health, life, family, car, and other types of insurance. That way, you’ll have help in covering your family’s specific needs and also have security against liabilities that may occur in the future.