General insurance

General Insurance is an insurance policy where most of the financial aspects are covered for compensation apart from the loss of life (death). General insurance is a policy where compensation or monetary benefits against loss, damage, accidents or illness is provided to the insured person. In this policy, the insured person can also include his or her family members in the insurance policy for the benefits of health insurance and more.

What all types of insurance policy are included in the general policy?

Car Insurance:

Repairing the car damages can cost from Rs.1000 to Rs.10 lakhs, not everyone can afford this type of damages or accidents. Car insurance policy helps in easing the monetary payment and helps in providing financial aid to the insured person. This method helps in covering most of the cost of the damage occurred without a person utilizing his or her emergency monetary funds.

Health insurance:

General Insurance also includes health insurance which helps in covering the medical bills including the hospital bills. According to the terms and condition of the health insurance, the insured person can claim the premium in order to pay the bills which were incurred due to an accident or mishap but cannot claim the insurance when it comes to terminal illness which was discovered post the purchase of the health insurance.

Travel Insurance:

Travel insurance is the most important type of insurance while travelling abroad. This type of insurance helps in providing monetary benefits in case of accidents or mishaps the insured person has faced while travelling abroad. The travel insurance will ensure in covering all the bills in the hospital including the medicines and more. Apart from accidents and mishaps this insurance policy also helps in covering the loss occurred due to delayed flights or cancelled hotel or flight bookings due to illness and other reasons.

Two-wheeler Insurance:

Apart from cars, most of the population from the middle-class families still have two-wheelers. Insurance for two-wheelers is also being provided by multiple insurance companies across the globe. The two-wheeler insurance policy will help in covering the damages occurred during an accident, mishap or theft.

Home insurance:

Home insurance is a must for homeowners. Home insurance is the only insurance policy which helps in covering the damages occurred at home due to burglary or accidents. Gadgets like home appliance, furniture and other electronic gadgets are covered in the home insurance policy and some of the damages occurred to the jewellery is also included although there is a separate insurance policy for jewellery.

All these policies are included in the general insurance policy. To provide people with an all in one policy which helps in covering most of the damages occurred, the general insurance policy was introduced in the market.