Insurance has been a long time ago, where it was the first protection for the global traders goods against loss due to pirate attacks in the sea. The insurance company during this period will bear all the losses of the unfortunate trades using the money it has collected from other participating tradesmen to help the unfortunate traders.
The purpose of insurance in a general term is primarily to help the unfortunate by using a portion of the collected pooled money to compensate for any amount of loss for the victim. With this method, many of the unfortunate victims can continue their daily lives immediately without worrying about other financial obligations.
There are many classes of insurance available worldwide. Each country has its own meaning and definition of each class of insurance. However, I will not understand the different opinions of different countries. What Im discussing here is mainly about the general factors and the benefit it can bring to each individual life in this world.
Property Insurance Fire Insurance
Fire insurance is an insurance that protects the insured person who purchases the insurance company property from any disaster or unfortunate event due to or caused by basic fire and lightning or other hazards such as Flight Damage, Earthquake and Volcanic eruption, Storm, Tempest, River, Explosion, Impact Damage, Bursting or Abundance of Water Tanks Appliances or pipes, Electrical installations, Bush Fire, Subsidence and Slip Landslide, Spontaneous Incineration, Riot Strike and Malicious Damage, Damage to falling trees or branches and objects from there and or even a cold storage.
If any of these dangers have caused fire on each property building, then the insured has the right to claim the insurance company where the policy is written.
Why is it so important for you to take out fire insurance for your property real estate? This is because the advantage it offers is huge. As you can see above, the fire insurance policy covers not only fire but also other hazards as damage to falling trees
Then learn the benefits of this Fire Insurance can offer you and start assuring your property immediately. Keep in mind that prevention is better than cure.
Homeowner Household Insurance
Similar to fire insurance, the homeowner household insurance covers mainly the property you have against theft, fire and even flood due to the extended dangers you may add. Instead of protecting the building, Householder Insurance covers all belongings within your property like your HiFi, Plasma TV, sofas, kitchen cabinets, expensive vases, expensive sculpture and many more.
Some people just pick up fire insurance but forget the household items that can be higher than the property.
So my suggestion is that when you buy fire insurance from your insurance provider, try to ask homeowner homeowner insurance also. Make it an addition to items in your fire insurance.
Motor insurance policies or some states are called as vehicle insurance policies are crucial and one must have policy for car vehicle owners to own.
Motor insurance covers all mobile items that range from their cubic capacity, model, type and use of each vehicle. Normally, a lower vehicle with cubic capacity will bear a lower premium if compared with a higher cubic capacity engine.
In the case of motor vehicles or high performance racing cars, other types of motor insurance will be applied and normally the premium rate is much higher than other regular vehicles.
In general, motor insurance covers the insured against loss or damage to own vehicles and the vehicle from third parties.
In addition, some insurance providers add to PA Personal Accident Insurance Policy in Motor Insurance policy to measure as well as to meet customer needs.
Travel Insurance Travel PA
It is a must have insurance specially for travelers. The policy coverage may be for a day trip or a monthly trip depending on the purpose of the insurance.
Why a travel insurance?
Travel insurance can protect the insured from loss due to flight delays, where some insurance providers will compensate insured with the unavoidable factors like this. Some travel insurance also covers the insured against loss of baggage, hospital stay, accident or other accident, depending on each insurance provider.