What is General Insurance?

Life insurance is an agreement between an insurance company and a policyholder that offers financial compensation on any loss other than death such as financial loss due to liabilities related to your house, vehicle, health, travel, etc.

The insurance company guarantees to pay a sum assured to compensate damages to your vehicle, medical treatments to cure health problems, losses due to theft or fire, or even financial problems during travel.

In short, General Insurance plays a vital role in life’s various problems. But, for that, you need to choose the correct insurance plan to ensure minimum financial losses if occurs.

Nowadays, You can get almost everything insured. But, there are mainly 2 key types of General Insurance available in the market. These are Health Insurance and Motor Insurance. Some of the other types of General Insurance includes Travel Insurance, Home Insurance, Fire Insurance etc.