General Insurance contracts that do not come under the ambit of life insurance are called general insurance. The different forms of general insurance are home fire, , motor insurance , accident insurance etc.
Life is full of risks. That’s what makes it so interesting and exciting. But some unexpected events can really set you back. General insurance help us protect ourselves and the things we value, such as our home, our cars and our valuable, from the financial impact of risks, big and small from fire, flood, storm and earthquake, to theft, car accidents, travel mishaps and even from the costs of legal acting against us. In general insurance works by spreading the cost of unexpected risks among a large number of people in the same region who share similar risks.
Gerenal Insurance can help you manage the risks of relatively rare, but expensive events, throughout your life such as car accident, theft or fire. Without the protection of an insurance policy, you would be responsible for covering the loss you experienced.
Thankfully, not everyone will experience a catastrophic loss in their lifetime. Insurance companies pool many people's small, regular payments to cover the expenses of uncommon, large events . Insurance companies are able to use data to track trends that can spread this risk among all its customers.
General Insurance comes with following plans