Do you know about the main general insurance product? For your information, the insurance company has made many products to protect you against losses due to theft or damaging to your personal belongings. The period usually for short term period and you have to pay a one-time premium payment. The main general insurance products are:
- Motor – As we know, most of us must have motor insurance to renew our road tax. The motor insurance covers against theft, accident or fire. Have you heard about third party insurance? The third party cover insured you against claims made against you by a third party for injuries or the third party that is caused by your vehicle. If you buy comprehensive cover, the insurance cover more such as third party injury and death, third party property loss or damage and loss or damage to your own vehicle due to an accident, fire or theft.
- House – Most of us don’t know that we need house insurance. Not all your mortgage including house insurance. This policy covers the building against fire, lightning or explosion. A house owner’s policy extends coverage of the building to loss or damage due to flood, burst pipes and other calamities as well. With a house holder’s policy, the contents of the house such as furniture are covered against theft, flood and fire. The policy does not cover damage to the house itself
- Travel – For those people travel overseas, you need to have this insurance. It protects you against travel-related accidents, flight delays or interruptions, baggage lost in transit, medical and other expenses. You can compare the best insurance travel at Compare Cheap website.
- Personal Belongings – Most of us don’t buy this insurance. For your information this insurance covers items such as computers, hand phones, notebooks and cameras against loss or theft.
Before deciding on this general insurance, make sure it is covers the main purpose. Sometimes, the company bring a policy that we don’t needed. Check your insurance policy or insurance certificate that states all the terms and conditions between you and the insurance company.
For me, my motorcycle using the 3rd party insurance as I’m used only for short distance and used it 2 or 3 times per week to go shop nearest or mosque to pray. It is not worthy if I’m buying the expensive insurance. For housing, I’ve buy a policy that protect basic such as fire while flood is quite impossible happen to my house. It is important to check house policy as if you renovate the house the policy also could be terminate.
How about your? Do you have any other opinion about general insurance? Let’s share with us.