General insurance or non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determined to be life insurance. It is called property insurance, home insurance, and motor insurance.
General insurance can be categorised in to following:
- Motor Insurance:Motor Insurance can be divided into two group, one is car Four wheeler insurance and other is two wheeler insurance.
- Travel Insurance:Travel insurance can be broadly grouped into Individual travel policy, Family Travel policy, student travel insurance and senior citizen health insurance.
- Home Insurance:Home insurance protects house and its contents in bad time.
- Marine Insurance:Marine cargo insurance covers goods, freight, cargo and other interests against loss or damage during transit by rail, road, sea and/or air.
Motor Insurance is insurance for cars, trucks and motor cycles and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against any liability that could arise there from. Vehicle insurance may additionally offer financial protection against as theft of the vehicle, and against damage to the vehicle sustained from events other than traffic collisions, such as keying and collision with stationary objects. The specific terms of vehicle insurance vary with legal regulation in each region.
Travel Insurance is insurance that is intended to cover medical expenses, trip cancellation, lost luggage, flight accident and any other losses incurred while travelling, either internationally or domestically. Travel insurance can usually be arranged at the time of the booking of a trip to cover exactly the duration of that trip, or a “multi-trip” policy can cover an unlimited number of trips within a set time frame. Some policies offer lower and higher medical-expense options; the higher ones are chiefly for countries that have high medical costs, such as the United States.
Home Insurance, also commonly called the homeowner’s insurance, is a type of property insurance that covers a private residence. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one’s home, its contents, loss of use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.
Additionally, Homeowner’s insurance provides financial protection against disasters. A standard Home insurance policy insures the home itself along with the things kept inside.
Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination. Cargo insurance is a sub-branch of marine insurance, though Marine also includes Onshore and Offshore exposed property, hull, marine casualty and marine liability.