Get to know general insurance and its types

Get to know general insurance and its types. What is public insurance?

Before getting acquainted with the types of general insurance, we first take a look at the concept of general insurance below.

Knowledge of general insurance in general or generally called general insurance, is an insurance that can provide benefits in the form of compensation to the policyholder in the event of damage, loss or loss of property.

Well, by having general insurance, you can avoid or minimize the loss in case of the risks mentioned above.

There are other types of loss risks that you may encounter with some general insurance products, such as fire, damage, accident, theft, loss, flight delay, etc.

Obviously yes, it is different from life insurance, health and education. Well, for those of you who are curious about any type of general insurance, let’s get to know some of these types of general insurance.

Types of general insurance:

1. fire insurance

The first type of general insurance that also exists in Indonesia is fire insurance or fire insurance. This general insurance product can protect against the risk of fire.

In addition, fire insurance is also used to protect homes against the possibility or risk of fire, which is usually caused by:

• Flames, both small and large, are random and generally difficult to control.
• Lightning strike
• Electrical short circuit
• and others

Not only personal homes, fire insurance is also useful to protect businesses. The reason is that in addition to your home, you can also benefit from fire insurance for warehouses, commercial premises or other properties, offices, factories, warehouses for supplying industrial materials.

2. Car insurance

The next type of general insurance is motor vehicle insurance (vehicle insurance). This insurance product is a type of general insurance that provides protection in the form of compensation in case of damage or loss of your vehicle, be it a motorcycle or a car.

Although it is a motor vehicle, vehicle insurance does not cover damage or loss for motor vehicles that do not have license plates.

Currently, there are at least two types of motor vehicle insurance that are generally offered by many insurance companies:

This type of comprehensive insurance can protect against loss or damage to motor vehicles or profits resulting from collisions, collisions, overturns, slips, falls, acts of vandalism, theft, fire and shipping.

While the TLO type of car insurance is a type of car protection, it has conditions similar to All Risk or Comprehensive. But this advantage will be effective only if the loss of the car has reached 75% of the market price of the related car.

• Liability of third parties

In this insurance, the insurance company also provides benefits in the form of legal liability against third parties to compensate for the medical expenses of the drivers and passengers involved in the accident.

As for the benefits of TPL in car insurance, it can compensate for two things. The first is the death or injury of a third party involved in the accident. A third party is anyone who was involved in a vehicle accident with your car.

For example, if your car is involved in an accident and damages someone else’s car and you have car liability insurance, the insurance company will pay compensation to the third party involved in the accident with your car.

In addition to the three types of car insurance, car insurance companies currently offer a wide range of protection services. The extension can cover the perils that occur, for example, damages due to mass actions, riots, damages due to natural disasters, coverage of medical expenses due to accidents, compensation in case of death of the insured due to accidents, etc.

3. travel insurance

In addition, there is also travel insurance, which is included as one of the general insurance lists. Travel insurance is a type of short-term insurance. This is because travel insurance only provides protection while you are traveling until you return home.

Benefits of travel insurance

The benefits provided by the travel insurance cover medical expenses, in case of an accident during the trip or due to illness at the destination.

Not only this, travel insurance also has the benefits of protection against loss of property, cancellation and handling of dead bodies.

4. Commercial insurance

Commercial insurance was also among general insurances. Well, this type of insurance is usually available to entrepreneurs for business purposes.

There are several types of business insurance that are quite familiar:

• The first type of commercial insurance is cargo insurance: a type of general insurance that provides protection benefits for goods shipped domestically and internationally.
• Engineering Insurance: Then there is the type of engineering insurance that provides protection benefits for construction equipment, electronic equipment and other technical items during the implementation of a construction project or the installation of machinery.
• Credit insurance: for this type of credit insurance policy can provide guarantees to protect against non-payment by the borrower. Generally, this insurance is provided as a facility in legitimate online loan applications that have been supervised by relevant institutions.

Well, this is general insurance in some countries, in addition to basic insurances like health insurance, life insurance, and education insurance.

What kind of insurance do you have? Of course, you must have it for primary insurance.Source: generali)

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