What is covered by a specific type of insurance?

• Health insurance. It allows the insured to cover up medical expenses while visiting a doctor and other major costs usually involved during surgeries. ...
• Life insurance. ...
• Rental or property insurance.

What are the 7 basic types of coverage needed?

What are types of insurance?

What are five types of insurance?

Home or property insurance, life insurance, disability insurance, health insurance, and automobile insurance are five types that everyone should have.

What are the 5 types of health insurance?

What does full coverage insurance cover?

Fully comprehensive

This is the highest level of insurance you can have. It covers you, your car and any others involved in an accident. It includes all the cover of a third party fire and theft policy, but also protects you as a driver and might pay out for damage to your car.

What is specific policy in fire insurance?

Specific Policy

This is a fire insurance policy which insures a risk for a specific amount. In case of any loss under this policy, the insurer pays all the loss provided. It is not more than the sum specified in the policy. Thus, the value of the property is not considered for this purpose.

What is special protection coverage?

The SPG is an elite force, specifically raised for the protection of the country's Prime Minister, former PMs and their immediate family. If the Gandhis lose the SPG cover, PM Modi will be the only one under the SPG's protection.

What is mean by comprehensive insurance?

Comprehensive insurance is insurance coverage that pays for the repair or replacement. Comprehensive car insurance typically covers third-party liabilities, damage from an accident, fire, natural calamity, theft, etc.

Is war covered by insurance?

A war exclusion clause in an insurance policy specifically excludes coverage for acts of war, such as invasions, insurrections, revolutions, military coups, and terrorism.

What are exclusions in insurance?

Exclusion — a provision of an insurance policy or bond referring to hazards, perils, circumstances, or property not covered by the policy. Exclusions are usually contained in the coverage form or causes of loss form used to construct the insurance policy.

Does insurance cover water damage?

Water damage to your property is usually covered as a standard feature in your buildings insurance policy. Often referred to as 'escape of water' by insurers, it can be caused by several issues, from burst pipes due to freezing temperatures, to a leaking dishwasher or an overflowing blocked toilet.

What are the two main types of health insurance?

There are two main types of health insurance: private and public, or government. There are also a few other, more specific types.

Which of the following is not covered under health insurance?

Also, dental surgery/ treatment ( unless requiring hospitalization), congenital external defects, convalescence, venereal disease, general debility, use of intoxicating drugs/alcohol, Self-inflicted injuries, AIDS, diagnosis expenses, infertility treatment, and Naturopathy treatment make a list of exclusions under ...

What is the most important type of insurance?

Health insurance is arguably the most important type of insurance. A 2016 Kaiser Family Foundation/New York Times survey found that one in five people with medical bills filed for bankruptcy. With a stat like this, investing in health insurance can help you prevent a significant financial hardship.

How many different types of insurance policies are there?

What is general insurance and its types?

General insurance covers home, your travel, vehicle, and health (non-life assets) from fire, floods, accidents, man-made disasters, and theft. Different types of general insurance include motor insurance, health insurance, travel insurance, and home insurance.

What is comprehensive insurance and third party insurance?

In third-party car insurance, damage to the third-party vehicle and personal injuries and death of passengers is covered. But own damage cover is not available. In a comprehensive car insurance policy, both third-party damage and own damage cover are available, along with personal accident cover for the owner-driver.

Does comprehensive insurance cover personal accident?

As per the India Motor Tariff 2002, personal accident cover is issued compulsorily with every car insurance policy. Therefore, it is granted as part of the comprehensive policy as well as the third-party liability-only policy.

Does comprehensive insurance cover personal injury?

Although comprehensive insurance generally provides you with the most cover in the event of an accident, such policies typically only cover the cost of damage to the vehicle and do not compensate drivers for injuries to their person.

What is basic form coverage?

Basic Form Coverage

This type of policy only covers perils that are specifically listed. Like the name implies, Basic Form coverage offers the least amount of protection. Naturally, this form tends to have the cheapest premiums. Common named perils include fire, lightning, windstorms, smoke, etc.