Types of Insurance
1. Health Insurance
Health insurance covers medical expenses incurred due to illnesses, injuries, or disabilities. It typically includes hospital stays, doctor visits, surgeries, and prescription drugs.
- Individual Health Insurance
- Family Health Insurance
- Critical Illness Insurance
2. Life Insurance
Life insurance provides financial support to the policyholders and beneficiaries in case of their death. Types include:
- Term Life Insurance
- Whole Life Insurance
- Universal Life Insurance
3. Auto Insurance
Auto insurance provides coverage for vehicles against accidents, theft, or damage. It may include:
- Liability Insurance
- Collision Insurance
- Comprehensive Insurance
4. Property Insurance
Property insurance protects against damages to homes, buildings, or personal belongings due to events like fire or theft.
- Homeowners Insurance
- Renters Insurance
- Flood and Earthquake Insurance
5. Travel Insurance
Travel insurance provides coverage for unexpected events during trips, such as trip cancellations, medical emergencies, or lost luggage.
6. Business Insurance
Businesses need insurance to protect against specific operational risks. Common policies include:
- General Liability Insurance
- Property Insurance for Businesses
- Professional Liability Insurance
7. Disability Insurance
Disability insurance provides income replacement if a person is unable to work due to illness or injury. It includes:
- Short-Term Disability Insurance
- Long-Term Disability Insurance
8. Pet Insurance
Pet insurance helps cover veterinary expenses for illnesses, injuries, or routine care.
9. Liability Insurance
Liability insurance protects individuals and businesses against claims of injury or damage caused to others. Examples include:
- Personal Liability Insurance
- Professional Liability Insurance
10. Marine and Cargo Insurance
This type covers ships, cargo, and goods in transit against loss or damage during transportation.
