What is General Insurance?
Insurance policies are categorized into two branches: general insurance and life insurance. General insurance includes insurance policies such as travel insurance, medical insurance, auto insurance and many such insurance that are not covered by life insurance policy.
What are the paybacks of General Insurance?
General insurance reimburses you for any financial loss that takes place covering most part of it. For instance, a medical loss may bring in front of you huge medical bills to be paid but with a medical insurance, these bills are partially paid by the insurance company. The covered up amount could be anywhere in between 80% to 100%.
What are the general types of General Insurance?
The most common type of general insurance is the auto insurance because of the fact that it is a necessity for every car driver in the US. Another common type is the health insurance that is very much taken up in the developed countries. Home insurance is another common type that is taken by a large number of people as everyone prefers the insurance company to cover up the loss caused to the home or belongings. This is because of the obvious fact that any loss caused to home or belongings is always huge in relative amount and so, getting most of it covered by the insurance policy is a big relief.