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Why Should You Buy an Insurance ?

Updated on February 5, 2014

Insurance guides and tips

Learn topics before you go: buying term insurance, life insurance quotes, shop car insurance, auto buy insurance, cheap life insurance, cheapest life insurance, buying insurance online, quote online insurance, term insurance, insurance companies.
Learn topics before you go: buying term insurance, life insurance quotes, shop car insurance, auto buy insurance, cheap life insurance, cheapest life insurance, buying insurance online, quote online insurance, term insurance, insurance companies.

Term Life Insurance

Auto Insurance

Car Insurance

Why Should You Buy an Insurance?

What is Insurance?

Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment . It is a form of underwriting , the process by which insurers select the risks to insure and decide how much in premiums to charge for accepting those risks.

Types of Insurance

  1. Auto Insurance : for autos

  2. Life Insurance ; for individuals

  3. Health Insurance ; for individuals
  4. Group Insurance ; for groups or family
  5. Home Insurance ; for your home
  6. Funeral Insurance ;
  7. Accident Insurance ; for individuals or autos
  8. Sickness Insurance ; for individuals
  9. Unemployment Insurance ; for individuals
  10. Disability Insurance ; for individuals
  11. Fire Insurance ; home or business premises
  12. Property Insurance ; for risk of property
  13. Flood Insurance ; for risk of property or individuals
  14. inland marine insurance; for property or individuals
  15. boiler insurance ; for risk of boilers
  16. Aviation insurance ; for risk of aviation
  17. Crop Insurance ; for risk of crops
  18. Building Risk Insurance ; for risk of building
  19. Earthquake Insurance ; for risk of property
  20. Land Lord Insurance ; for land
  21. Marine Insurance ; for property
  22. Tourism Insurance ; for risk of individuals
  23. Liability Insurance ;against any liability
  24. Credit Insurance ; against any credit
  25. Mortgage Insurance ; against any mortgage
  26. Car Insurance ; for risk of your cars
  27. Collateral Protection Insurance ; for risk of any collateral
  28. Kidnap and ransom Insurance ; in case of kidnap
  29. Legal Expense Insurance ; legal risk
  30. Locked Fund Insurance ; risk of fund locked
  31. Pet Insurance ; for risk of pets
  32. Pollution Insurance ; for risk of pollutions
  33. Phone Insurance ; for your phone
  34. Title Insurance
  35. Travel Insurance
  36. Social Insurance, etc.

Why an Insurance

For Example, if you buy a car and drive it, you may , unfortunately, fall in accident which may cause your car broken or out of order. In this case, if you have already bought an insurance for your car, you can get it again from the claimed money of respective insurance company against your premium.

Suppose, you have lost your legs by that accident. If you have already bought a life insurance from any insurance company, then, you can get a large amount of money to spend in the time of your disability.

Similar results you can aspect for other cases of insurance.

How and When to Claim for Insured Money?

When an accident happens , you should contact with the insurance company as soon as possible. Some insurance company do not allow delay of claims. So, for the delay of contact you may loss your claimable money.

Before or after the insurance is bought, you must read the terms and conditions of that insurance company attentively with proper importance and memorize it for future reference.


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