Different Types of Insurance Policies

Learn of the different types of insurance policies people buy for coverage of their cars, homes, health insurance and more.

Woman considering the different types of insurance policiesAll too often, people want insurance but do not understand what coverage to buy. The different policies confuse people many at times. Allow me therefore to describe the different policy types that people buy?

The Different Types of Insurance Policies

There are many different policies in existence today. Insurance-advisers.com is pleased to provide information on some of these issued by many insurance companies. A listing of the six main ones follows:


auto insurance coverageThis is a type of insurance that covers damages resulting from motor vehicular accidents. It is a contract between the the owner (policy holder) of a motor vehicle and the insurance company. The car insurance policy holder agrees to pay a premium. The insurance company agrees to pay for losses as defined in the policy. This type of policy covers damages to the vehicle as well as third party liability. Read more.


People discussing the different health insurance typesThe typical health policy provides a way of paying for medical cost. It protects one from having to pay the full cost of medical services when injured or sick. The individual chooses a plan most suited to his needs. He agrees to pay a certain premium on a monthly basis. Some companies also offer group health cover . Read more.


Example of items covered by home contents insuranceThis type of coverage is a packaged policy. It covers the cost of damage to building and contents. Additionally, it covers loss in respect of persons who suffered damage in the insured property. Such a policy however does not restrict compensation to outsiders. It also covers damages of family members. Read more.



Income protection insuranceThis type of policy also refers to permanent health insurance. It provides income protection for  employees. An insured person may become incapacitated due to injury or illness. Such a policy therefore covers the loss of income to the affected person. Read more.



Life insurance typesLife insurance pays out a sum of money either on the death of the insured person or after a set period. One chooses his coverage based on his goals and needs. Term life insurance generally provides protection for a set period of time.  Permanent life on the other hand provides lifetime coverage. There are various types of life insurance. It is good to know that life insurance premiums do not generally attract income tax. Read more.


Travel insurance coverageA travel insurance plan that covers losses incurred while travelling. Coverage includes medical cost, trip cancellation, flight accident and other losses. Travel insurance can cover local as well as overseas travel. One should not travel without such insurance because anything can happen while on your journey. Read more.


You can contact Insurance Advisers to learn more.


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