General Insurance

Insurance can be widely segregated in three categories–life, health and general. General insurance is insurance for valuables other than our life and health. General insurance covers the insurer against damage, loss and theft of your valuables. The premium and cover of general insurance depends upon the type and extent of insurance. A general insurance policy typically has a period of a few years. In India, general insurance policies are of the following types:

Motor insurance

Insurance for the damage or theft of your motor vehicle, two-wheeler, three-wheeler or four-wheeler, is covered under this type of insurance. The damage caused to the vehicle can be caused natural or man-made circumstances, the extent of which would change from policy to policy.

Under the Motors Vehicle Act, motor insurance is mandatory in India. New motor vehicles come with a third-party insurance right from the showroom itself.

Home insurance

Home and household insurance protects your home and the items inside it. A home insurance policy would also cover natural and man-made circumstances. The contents that are covered under a home insurance policy would depend on the type of policy you buy.

Travel insurance

Another popular type of general insurance is travel insurance, which covers your trips abroad. Travel insurance can be taken to cover loss or theft of your valuables as well as documents. Some travel insurance policies also cover flight delays and medical emergencies. Travel insurance can be taken for personal as well as business trips.

Personal, Vehicle OR Home Insurance

Personal  possessions, car or home insurance cover that meets your specific needs which provides cover for your valuable possessions and assets. Our expert advice and affordable insurance protects you when you experience unexpected loss or damage to your personal belongings.

Other types of general insurance:

• Marine insurance
• Commercial insurance
• Rural insurance
• Crop insurance

Just like life insurance and health insurance, even general insurance can be bought online as well as offline. The online policies can be cheaper, so make sure you compare them before you make a purchase decision.