What is Insurance and how it protects you and your home?

The Complete Guide to Insurance and How It Protects You & Your Home

What is Insurance?

Insurance is a type of risk management, the process of protecting oneself from financial loss.

Insurance is a tricky topic because it has to do with predicting the future. No one knows for sure what will happen in the future, but insurance provides protection against the worst case scenario, which is helpful in avoiding any financial distress.

The cost of life insurance varies depending on factors such as your age, the type of policy, and the amount of coverage you want.

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Types of Insurance

Insurance can be categorized into various types like personal insurance, motor insurance, life insurance, home insurance, health insurance and personal accident insurance.

Insurance is an important part of life that helps in protecting any form of loss or damage to one’s property.

Life insurance, for example, offers protection against a potential death or end-of-life event that leaves a loved one behind with no means of support.

Personal accidents are not always covered by the society and for this reason people need to buy personal accident insurance for themselves. The important point of insurance is that it covers not only your losses but also your legal expenses. It can be key if you are in an accident and need to prove fault on the other side.

Health insurance  provides financial assistance to policyholders when they are admitted to hospitals for treatment. 

With Home insurance policy, you remain free from all financial liabilities that may arise from damage to your home or contents inside due to fires, burglaries, storms, earthquakes, explosions and other events.

Motor insurance refers to policies that offer financial assistance in the event of accidents involving your car or bike.

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Things to consider when purchasing an Online Insurance Policy

Benefits of Service - You should refer to Service Benefits such as 24 * 7 Customer Support, Convenient Pick-up & Drop for your car and Wide Network of Free Garages.

Choose the right Sum Insured - The right amount insured helps to ensure that you are fully covered in the event of an emergency

Insurance claims speed - Claims are the reason you bought insurance. So check how long your insurance company takes to pay the claims.

Best Price - If you are satisfied with the service and Sum Insured, check out the premium and discount you get

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