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Insurance

 

Insurance is promise of reimbursement in the case of loss; paid to people or companies to reduce risk so they make prepayments to an insurance company. It is defined as the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a premium and duty of care.

Types of Insurance

Auto Insurance
This is insurance which protects the insured against losses involving the use of automobiles.

Business Insurance
Insurance that is intended to serve the insurance needs of a business rather than the needs of an individual.

Health Insurance
A broad term applying to all types of insurance indemnifying or reimbursing for losses caused by bodily injury or sickness or for expenses of medical treatment necessitated by sickness or accidental bodily injury. Health policies can offer many options and vary in their approaches to coverage. It might also include prescriptions and doctor visits.

Life Insurance
Provides for a payment of a sum of money upon the death of the insured.

Loss of Income Insurance
Insurance that covers workers who are unable to work for any reason. They are usually paid 80% of the insured income. They may have to be off work for 3 months before the policy comes in effect.

Property Insurance
Property insurance provides protection against risks to property, such as fire, theft or weather damage.

Travel Insurance
Is an insurance cover taken by those who travel abroad, which covers certain losses such as medical expenses, loss of personal belongings, travel delay, personal liabilities.

Workers Compensation Insurance
A state-mandated form of insurance covering workers injured in job-related accidents.

Insurance Advice
Advice offered to you related to insurance.

 

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