What is General Insurance

 

General insurance characteristically includes all insurance that is not related to the life insurance. US people call it as property & casualty insurance where as people who belong to continental Europe call it as non-life insurance.  It is that category of insurance in which demise is not included as a central hazard. General insurance which is also called non-life cover plan includes property holders and vehicle policies. It also includes expert business hazards like naval, aviation etc. It offers payments which depend on the loss from a specific incident. The insured is able to get compensations for whichever loss that may possibly crop up. It is necessary to follow all the terms and conditions associated with the general insurance.

Insurance is a very solemn business. It should be taken very seriously. However majority of people do not take it seriously and they do not look into the details of a particular insurance. I would also like to share some tips to choose general insurance. Generally insurance representatives do not discuss these tips with anyone excluding their best buddies or life partner.

(1)If you take multi-policy then it assists you to reduce rates. If you are planning to buy different insurances like health, auto insurances then it would always be advisable to take it from a single insurance company. But you should also check the rates of various companies so that you can get a good deal.

(2) It would be advisable to pay money for a lofty deductible policy and try to negotiate with the help of your physician to get economical health insurance.

(3)It would be very helpful for us if we do not pay attention to the advertisements of finance and Credit Card companies. They are not beneficial for a long term. Life insurance plans are a better option to include your balance due amounts.

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