Which of the following are types of insurance?

Asked by: Prof. Margaretta Schowalter Sr.  |  Last update: February 11, 2022
Score: 4.5/5 (67 votes)

Broadly, there are 8 types of insurance, namely:
  • Life Insurance.
  • Motor insurance.
  • Health insurance.
  • Travel insurance.
  • Property insurance.
  • Mobile insurance.
  • Cycle insurance.
  • Bite-size insurance.

Which one of the following is a type of insurance?

Most experts agree that life, health, long-term disability, and auto insurance are the four types of insurance you must have. Always check with your employer first for available coverage.

Which of the following are types of insurance quizlet?

Terms in this set (15)
  • Types of Insurance. -- Personal Insurance. ...
  • Personal Insurance. -- Auto Insurance. ...
  • Commercial Insurance. -- Workers Compensation Insurance. ...
  • Personal Insurance. Property Insurance encompasses three types of policies: ...
  • Auto Insurance. ...
  • Health Insurance. ...
  • Life Insurance. ...
  • Disability Insurance.

What are the 7 main types of insurance?

7 Types of Insurance are; Life Insurance or Personal Insurance, Property Insurance, Marine Insurance, Fire Insurance, Liability Insurance, Guarantee Insurance. Insurance is categorized based on risk, type, and hazards.

What are 3 common types of insurance?

Some common types of insurance include:
  • Health insurance.
  • Car insurance.
  • Life insurance.
  • Home insurance.

Life Insurance study class TYPES OF INSURANCE

35 related questions found

What are the 6 types of insurance?

Six common car insurance coverage options are: auto liability coverage, uninsured and underinsured motorist coverage, comprehensive coverage, collision coverage, medical payments coverage and personal injury protection. Depending on where you live, some of these coverages are mandatory and some are optional.

How many types of insurance are there?

Broadly, there are 8 types of insurance, namely: Life Insurance. Motor insurance. Health insurance.

What are the types of insurance class 11?

The five major types of insurance are:
  • Life Insurance.
  • Health Insurance.
  • Fire Insurance.
  • Marine Insurance.
  • Vehicle Insurance.

What are different types of life insurance?

Common types of life insurance include:
  • Term life insurance.
  • Whole life insurance.
  • Universal life insurance.
  • Variable life insurance.
  • Simplified issue life insurance.
  • Guaranteed issue life insurance.
  • Group life insurance.

What is mean by insurance explain the types of insurance?

Insurance is a contract (policy) in which an insurer indemnifies another against losses from specific contingencies or perils. 1. There are many types of insurance policies. Life, health, homeowners, and auto are the most common forms of insurance. 2.

Which of the following types of insurance covers a debt?

Which of the following types of insurance covers a debt? Credit insurance is used to protect against the risk of inability to repay a debt.

Which of the following are types of liability coverage?

The three main types of liability insurance coverage are: General liability. Professional liability. Employer liability.
...
General liability helps protect you if someone accuses you of:
  • Bodily injury and property damages.
  • Reputational harm.
  • Advertising errors.

Which of the following types of insurance might a business purchase?

8 Types of Insurance Policies for Small Businesses to Consider
  • General Liability Insurance (GLI) ...
  • Commercial Property Insurance. ...
  • Business Income Insurance. ...
  • Professional Liability Insurance. ...
  • Workers' Compensation Insurance. ...
  • Data Breach Insurance. ...
  • Commercial Umbrella Insurance. ...
  • Commercial Auto Insurance.

Which insurance is not a type of general insurance?

There is a distinction between the types of insurance one is life insurance and other is non-life or general insurance. As an individual, you will be covered under the Life insurance policy. The reimbursement under the policy can be withdrawn on the event of death or maturity of the policy.

What are the four types of medical insurance?

What are the different types of health insurance?
  • Health maintenance organizations (HMOs)
  • Exclusive provider organizations (EPOs)
  • Point-of-service (POS) plans.
  • Preferred provider organizations (PPOs)

What is insurance class 11?

Insurance is a contract under which one party (Insureror Insurance Company) agrees in return of a consideration (Insurance premium) to pay an agreed sum of money to another party (Insured) to make good for a loss, damage or injury to something of value in which the insured has financial interest as a result of some ...

What are the various types of marine insurance policies?

Types of Marine Insurance policies
  • Floating Policy.
  • Voyage Policy.
  • Time Policy.
  • Mixed Policy.
  • Named Policy.
  • Port Risk Policy.
  • Fleet Policy.
  • Single Vessel Policy.

What are the five major types of insurance?

The Bottom Line

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

What are the five types of vehicle insurance?

5 Common Types of Car Insurance Coverage
  • Liability Coverage. Why do you need liability coverage? ...
  • Collision Coverage. Collision coverage is optional with most insurance policies. ...
  • Personal Injury Protection Coverage. ...
  • Uninsured and Underinsured Motorist Protection. ...
  • Comprehensive Coverage.

What are the basics of insurance?

The basic principle of insurance is that an entity will choose to spend small periodic amounts of money against a possibility of a huge unexpected loss. Basically, all the policyholder pool their risks together. Any loss that they suffer will be paid out of their premiums which they pay.

What are the most common types of commercial insurance?

The most common types of commercial insurance are property, liability and workers' compensation. In general, property insurance covers damages to your business property; liability insurance covers damages to third parties; and workers' compensation insurance covers on-the-job injuries to your employees.

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 examples of liability insurance?

Typical General Liability Insurance Claims
  • A property damage lawsuit. For example, say you rent the building your restaurant is in. ...
  • A slip and fall incident. Say a customer slips and falls in your business after you mop the floor. ...
  • A product liability lawsuit. ...
  • A customer injury lawsuit. ...
  • An advertising lawsuit.

Which of the following types of insurance policies is most commonly used in credit life insurance?

Credit life insurance and credit disability insurance are the most commonly offered forms of coverage. They also may go by different names. For example, a credit life insurance policy might be called "credit card payment protection insurance," "mortgage protection insurance" or "auto loan protection insurance."