What type of insurance protects against damages or injuries to other persons?

What type of insurance protects against loss from automobile accidents of insured?

property insurance provides financial protection against loss or damage to an insured person's property. liability insurance provides financial protection to the insured for damages or injuries to other persons or their property. ex = motor vehicle accidents, damaging other persons car.

What is bodily injury insurance?

What is Bodily Injury Liability? If you are responsible for a car accident, bodily injury liability coverage pays for the medical costs of the people who are injured (not including yourself). This coverage also helps cover payment for legal defense in the event you are sued for damages.

Which type of insurance protects against loss due to death?

Life insurance provides financial benefits to a designated person upon the death of the insured.

How can insurance protect you from financial loss?

How can insurance protect you from financial loss? Insurance can cover you or your property in case of an accident, theft, or another unpredictable event. Insurance can offer easy monthly payment options for premiums. Insurance can offer low co-insurance policies.

How does insurance provide protection?

Insurance plans are beneficial to anyone looking to protect their family, assets/property and themselves from financial risk/losses: Insurance plans will help you pay for medical emergencies, hospitalisation, contraction of any illnesses and treatment, and medical care required in the future.

What is the fire insurance policy?

Fire insurance is property insurance that provides additional coverage for loss or damage to a structure damaged or destroyed in a fire. ... The policy pays the policyholder back on either a replacement-cost basis or an actual cash value basis for damages.

What are the types of casualty insurance?

What is an HO 3 insurance policy?

Homeowners Policy Special Form 3 (HO 3) — part of the Insurance Services Office, Inc. (ISO), homeowners forms portfolio, the HO 3 insures the described owner-occupied dwelling, private structures in connection with the dwelling, unscheduled personal property on and away from the premises, and loss of use.

What does CGL B cover?

Coverage B under a standard CGL policy covers “Personal and Advertising Injury” caused by an injury arising out of the insured's business due to false arrest, detention, or imprisonment; malicious prosecution; the wrongful eviction from, wrongful entry into, or invasion of the right of private occupancy of a room, ...

What kind of coverage is provided by general liability insurance quizlet?

General liability insurance is written to cover two major risk exposures: premises and operations, and products and completed operations. Auto-related liability exposures for businesses are covered under commercial auto policies.

What is insurance and what are the types of insurance?

Insurance policies can cover up medical expenses, vehicle damage, loss in business or accidents while traveling, etc. Life Insurance and General Insurance are the two major types of insurance coverage. General Insurance can further be classified into sub-categories that clubs in various types of policies.

What is an insurance premium?

The amount you pay for your health insurance every month. In addition to your premium, you usually have to pay other costs for your health care, including a deductible, copayments, and coinsurance. If you have a Marketplace health plan, you may be able to lower your costs with a premium tax credit.

What is an example of insurance?

The definition of insurance is protection against something going wrong. When you pay premiums in exchange for a policy that pays out when you crash your car in a car accident, this is an example of an auto insurance policy. ... Biking helmets that provide insurance against a head injury.

What are the 4 main types of insurance?

There are, however, four types of insurance that most financial experts recommend we all have: life, health, auto, and long-term disability.

What are the 3 main types of insurance?

What are the three types of insurance?

Then we examine in greater detail the three most important types of insurance: property, liability, and life.

What is other liability policy?

This policy will cover the third-party/ individual who has been involved in the accident caused by you. When you take a Liability Only Policy, then the loss or damage to your car will not be insured. ... This offers coverage for any loss, damage or injury to others that will hold you legally responsible for.

What does personal injury protection cover?

PIP helps cover your medical expenses, regardless of who was at fault for an accident. It can cover things like ambulance bills, emergency room charges, follow-up medical visits, lost wages, prescriptions and transit to and from your appointments.

What is personal injury liability?

Personal Liability – provides coverage for bodily injury and/or property damage sustained by others for which you or your family members are legally responsible. ... Personal Injury – provides coverage for OTHER THAN bodily injury or property damage.

Which type of auto insurance policy protects drivers from the costs associated with theft?

Comprehensive insurance usually helps cover theft of the car itself, stolen car parts or damage caused by a break-in (such as broken windows or damaged door locks). Comprehensive coverage is typically required by your lender if you're leasing or financing your vehicle.