Types Of General Insurance Policies In India

There are a chock-full of milestones to cross off from our to-do list. But since life is unpredictable, all the preparations done are not enough. A fire burns down the house you built, or you meet with an accident that wrecks your vehicle, or your face a medical emergency, or your trip overseas gets cancelled due to catastrophes.

Fortunately, you can safeguard your valuables. Yes, it is impossible to overestimate the significance of Insurance. So, understand and invest in different General Insurance Coverages that helps you when you need it most. They are as follows:

Health Insurance

This is coverage that you need to buy at some point. It covers you in the event of a medical emergency or a surgical procedure. The most significant advantage of Health Insurance is that it includes a cashless option that lets you seek admission to one of the insurance provider's network hospitals and begin treatment without having to pay cash upfront.

Tailor your coverage to your specific needs, such as General Health Insurance, Critical Illness Insurance, and Pre-Existing Illness Insurance. You get cashless treatment, pre-and post-hospitalisation benefits, and day-care treatment, among other things.

Motor Insurance

This gets classified into two categories: Two-Wheeler Insurance and Four-Wheeler Insurance. In India, all car owners have a basic Third-Party Liability Insurance Policy to cover themselves and others due to an accident. However, if you want to get the most out of your Insurance, get decent comprehensive coverage.

Such a policy offers comprehensive coverage, allowing you to safeguard your vehicle from natural catastrophes such as earthquakes, floods, and cyclones, as well as human-made disasters such as thefts, riots, and strikes. Additional riders, such as Engine Cover Protection, Personal Accident Insurance, Vehicle Replacement, and Roadside Assistance, are also available.

Travel Insurance

You are aware that Travel Insurance is essential, especially when travelling overseas. It is a form that assists you with different concerns in a foreign country. Travel Insurance helps in different ways, including flight delays, baggage and passport loss, medical crisis and hospitalisation funds, accidental death, and financial emergency support.

There are also several types of Travel Policies, including Student, Senior Citizen, Group, Corporate, And Country/Territory Specific Insurance.

Home Insurance

This is one of those policies that every homeowner should have. It protects your house structure and the contents you have gathered over time. The worth of your possessions gets used to calculate your House Insurance premium.

Essentially, Home Insurance protects against human-made and natural perils. Add additional coverage to your policy as it is possible with other plans.