Life they say is full of ups and downs and that you can predict what would happen the next minute. However, there is a way to protect your properties and life from loss or damage. Introducing insurance which is however a legal agreement between the insurer and the insured. In other words, Insurance is an arrangement whereby a company or a state provides a guarantee to compensate for a specified loss, damage, illness, or death in return for payment of a specified premium. Insurances have helped so many people today when it comes to securing life and properties as it also reduces spending and encourages saving.
It’s very important to insure one particular thing or the other. There are different categories of insurance that include business insurance, health insurance, and more. Insurances allow you to protect anything you want to insure. It also could be of very good help in times of emergencies of what you must have insured. This actually protects you from every financial loss and also over other expenses to do one accident or the other. For instance, if you got involved in an accident, you don’t need to worry about the expense you need to pay. As one as you’ve insured your car, the insurances service got you covered with the expenses.
Types of Insurances
There are different types of insurance policies. All would be listed for you so as for you to choose which you would want to act on for protection in case of damage or loss. However, it covers almost all. So, therefore, you can insure anything you want to put in the care of the company, state, or trusted personnel. Here are the types of insurances by which you can choose which of them to go for;
- Health insurances: This is when a health insurer pays the insured medical bill. Although, doesn’t necessarily have to be all the medical bill but at least some portion of it.
- Car insurances: Car insurance also known as auto insurance which is generally for all vehicles. When a vehicle is protected from accident, theft or crash while driving.
- Life insurance: This pays an inheritor the amount that had been agreed on to cover the expenses the dead/deceased person left.
- Pet insurance: This is when the insurer covers the aspect of the pet’s illness or pain and pay its veterinary bills.
- Travel insurances: This aspect takes care of an individual trip expenses. This includes medical aid, misplaced properties and others during a trip.
- Renters insurances: This covers the tenants of an apartment personal belongings. In case of unexpected damages or theft which is not the responsibility of the house owner.
- Umbrella insurances: This is also known as a liability insurance as it covers all the expenses and payments of other insured properties.
- Homeowners insurance: This covers your house building and other parts attached to it which includes your garden, balcony.
Although, there are other types of insurance which include term insurance, public liability. Business insurances, content insurance,s and many more. You can choose which you would want to go for and insure your properties and life as it helps save you from loss or damage.
Importance of insurance
Insurance is very more much important to you, your family, and your organization at large. We all know that the main goal or purpose of running an insurances policy is to secure yourself from unforeseen circumstances. But aside from this main purpose, there is other importances of insurances. This includes:
- Reduces spending and helps save
- It secures retirement
- Also, it helps to secure your future
- It backs you up financially in case of emergency
Apart from the above listed, insurances also enable you to have peace of mind because your property rests assured of safety. The future is however unpredictable so, therefore, securing your life and property by insuring them would be of great help in case of future emergency.
List of Top Insurance Companies
There are different types of insurance companies that perform different functions and allows the insurance of only what they can take care of. However, at the same time, there are also so many insurances companies in the world at large. Some of which includes
- State farm
- Liberty Mutual
- Berkshire Hathaway
- China life insurance
- Progressive Ins Group
There are still a lot more insurances companies aside from the above listed considering how big the world and the number of countries in the world. You can locate one around your vicinity or find an insurance agent to help and guide you on how to go about insuring your property and life.