What is general #insurance?
General insurance also called non-life insurance policies, including automobile and homeowners policies, provide payments on the financial loss from a event. General insurance is typically defined as any insurance that is not termed to be life insurance. It is called property and casualty insurance in America, Canada and Non-Life Insurance in Europe.
Advantages of General insurance
The benefits of a general insurance #policy are as following :
- Health and medical insurance take care of the medical expenses.
- Pet insurance policies are necessary for taking care of costs associated with pets.
- Accident insurance policies are helpful when it comes to costs after accident treatments.
- Home insurance policies help in safeguarding the house against different dangers like fire and natural disasters.
- Motor vehicle insurance plans cover up the costs involved with vehicle destruction in an accident.
- Unemployment insurance comes in handy in case the insured has a job loss.
- Travel insurance plans help to deal with costs of any risk involved with travel inside or outside of country.
What are the companies who offer online general insurance in India?
Online General Insurance is offered by many companies in India some of which are :
Aviva Life Insurance
Bajaj Allianz Life Insurance
Birla Sun Life Insurance
HDFC Standard Life Insurance
ING Vysya Life Insurance
Life Insurance Corporation of India
Max Life Insurance Company
MetLife India Insurance
Types of general insurance in India
In India, general insurance can be categorized into two major classes – personal lines and commercial lines policies. The are explained as follows :
The personal line policies for general insurance are formed so that they may be marketed in large numbers. Examples are the private car insurance policies, household or home-owners policies, creditor insurance, and pet insurance among others.
The commercial line products for general insurance are formed for small businesses that have been legally registered. Examples of these policies are commercial fleet insurance, employers’ liability, public liability and product liability.
There are several entities that deal in commercial general insurance plans that are fairly detailed in nature and match to the needs of a diverse range of clientele including shops, hotels, and restaurants.