Understand General Insurance and Examples, Choose According to Needs

Have you chosen an insurance product? Does General Insurance suit your needs? There are a lot of insurance products available on the market. However, there are still many people who do not understand what type of insurance suits their needs. If you don’t understand and are looking for info about insurance products, then you are in the right place!

General Insurance

Understand What Is General Insurance

Morning becomes the busiest time. Everyone meets on the highway before doing their daily activities. At that time many car and motorcycle drivers drove their vehicles at high speed. Suddenly, there was a motorbike driver crashing into a parked car. Traffic accidents also occur and losses are experienced by both parties.

Before they resolve how the compensation will be done, they you met arguments about who is wrong and correct. Not to mention, if one or both of them are injured, there must be compensation must be removed as well.

Look at this incident, certainly you want to avoid any possibility of bad and always felt safe. If true, then the answer would be your desire is to have insurance. However, what type of insurance you must have to anticipate these events?

Surely you immediately think to insure the vehicle. However, if you already know that vehicle insurance is one of general insurance? It has a wide range of general insurance. We will discuss it starting from the notion of public insurance.

General insurance is a program for tackling the risks or losses caused by any event that is not certain. Risks arising not are expected but at least the insurance as insurer warranty replacement form of money called the compensation on the part of the insured that have experienced such events.

General insurance is divided into three notions are:

1. The existence of a loss

A disadvantage it brings is the responsibility of the insurer to change the party in the form of money by a specified amount according to an agreement made by the insurer and the insured. The large amount of funds is determined by the size of the selected insurance programs.

2. The existence of Interest

The intent of these interests is party assured that it is subjective in nature that could be damaged, missing, or diminished in value because of unexpected events happen. Elements of significance are mandatory and must be completed. On the conditions as described earlier, general insurance claims can be made.

3. The presence of Indeterminate Events

This second definition can cause losses in materiel or immaterial. Insurance claims can be filed if an unexpected event that is not done intentionally for a specific purpose, but purely by accident.

From the above definition, general insurance is different from life insurance. Life insurance protects you from unexpected risks, such as illness or death. Meanwhile, general insurance can protect your valuable assets, such as cars, buildings, homes and their contents, etc.

What Is General Insurance?

General insurance has lots of options of the product due to be protected for individuals or even for business. Examples of general insurance for individuals is health insurance, personal accident insurance, vehicle insurance, fire insurance and home insurance, as well as travel insurance.

1. Personal accident insurance

This insurance will provide compensation to the insured in case of an accident, such as compensation for his death (if the insured died), compensation for permanent disability, medical expenses and compensation for motorcycle accident.

Some insurance companies offer personal accident insurance with the term Micro-Insurance. Micro Insurance because the premiums referred to is very affordable, the value of the coverage is not too big, and could be sold in outlets minimart and supermarket.

2. Health insurance

Health insurance provides protection against the cost of health care or medical treatment. The benefits provided by health insurance benefits include daily inpatient, ICU space, and other hospital services.

In addition, there are also benefits for surgery, doctor’s consultations (before and after surgery), emergency outpatient benefits due to accidents, the repatriation of the bodies, medical evacuation, compensation for death due to accidents, and others.

Insurers that provide health benefits for pregnant women, eye health also includes health insurance. Usually this health insurance product offered a package with life insurance unit link. If you want to buy a separate, you can contact the General insurance company.

3. Fire insurance and home insurance

Providing insurance benefits if there is FLEXAS: fire, lightning, explosion, aircraft impact and smoke. Some insurance companies also offer home insurance called PAR: all risk property.

4. Vehicle Insurance: Cars and Motorcycles

This insurance will provide coverage if there is theft, motorbike loss (total lost only), and / or general risks (all risk insurance). But you need to pay attention to the contents of the policy, because the definition of all risk insurance does not mean that all risks can be borne.

5. Travel Insurance

Provide the benefits of sum assured if a loss occurs, suitcase, pain at the place of destination, departure cancellation because of airline delays, the Chair, through acts of terrorism inside the plane. Not only that, it also provides travel insurance protection against equipment golf, protection against the contents of the House while you go on vacation, etc.

In addition to the General insurance for individuals, also have products for your business and would like to secure running business. The following are examples of general insurance products which you can consider to have:

1. Money Insurance

Money insurance guarantees the risk of loss of money and / or other securities from a vault (safe), drawer, cash register, or in the delivery of the risk of theft, loss or embezzlement.

2. Engineering Insurance

Engineering insurance provides a guarantee of protection against loss or damage of construction, construction tools, electronic equipment, heavy equipment or machinery, at the time of construction or installation of the machine.

3. Marine Cargo Insurance

This insurance guarantees the protection of property and the interests of the insured as merchandise, raw materials, materials, machines and so other goods against the risk of losses. The risk of loss may arise during a trip through the transport of sea, land, and air transportation, both for domestic and export and import.

4. Marine Ship Insurance (Marine Hull Insurance)

This insurance provides a guarantee of the risks that occur at sea (bad weather, collisions, sinks, and aground), fire, technical damage and the risk of robbery / piracy in the middle of the sea.

5. Liability Insurance

This insurance provides a guarantee of protection against legal responsibility (liability). Examples include personal accountability, general accountability and employer’s liability.

6. Gas Station Insurance

Gas Station Insurance may not often be heard by you. However, it proved to be true. This insurance provides security against the property at any GAS STATION.

7. Telecom Tower Insurance

This insurance provides a guarantee against the risk of property all risk, expansion of the earthquake, to the legal responsibility of third parties and happenings of nature.

You’ll never know what events will occur. Of course you always want to avoid unexpected occurrences. Insurance has become one of the appropriate alternatives so you can make life more secure than before. Customize your needs before choosing insurance. Be sure to always protect yourself or your family with proper protection.