General Insurance

General Insurance is a type of insurance that protects you from financial losses caused by unexpected events other than death. It covers assets, health, travel, vehicles, home, business, and liabilities. You pay a premium, and in return, the insurance company compensates you for losses or damages due to accidents, theft, natural disasters, illness, fire, or other risks.

Why Do We Need General Insurance?

General insurance is important because it:

•  Protects valuable assets like home, car, business, and property
•  Provides financial support during emergencies
•  Covers medical expenses through health insurance
•  Helps during travel issues like trip cancellation, lost baggage
•  Protects businesses from legal or financial risks
•  Reduces the burden of unexpected expenses

Types of General Insurance

1. Health Insurance

• Covers medical expenses due to illness, surgery, hospitalization.
• May include cashless treatment, pre/post hospitalization, critical illness cover.

2. Motor Insurance (Vehicle Insurance)

Covers cars, bikes, and commercial vehicles.

• Third-party insurance: Mandatory. Covers damage caused to others.
• Comprehensive insurance: Covers both your vehicle and third-party damages.

3. Home Insurance

• Protects your house and belongings against fire, theft, natural disasters, and other damages.

4. Travel Insurance

• Helps during domestic and international travel.
• Covers trip delays, lost passports/baggage, medical emergencies, flight cancellations.

5. Fire Insurance

• Covers loss or damage due to fire, explosion, lightning, or related hazards.
• Useful for homes, offices, shops, and industries.

6. Marine Insurance

• Covers goods, cargo, and ships during transit—by sea, air, or road.
• Protects from accidents, theft, damage, or loss in transit.

7. Commercial / Business Insurance

Protects businesses from operational risks like:

• Property loss
• Machinery breakdown
• Employee-related risks
• Liability claims
• Cyber risks

8. Liability Insurance

• Protects you legally if someone claims that your actions caused injury or damage.
• Includes public liability, product liability, employer liability, professional indemnity, etc.