General insurance helps us protect finical risk and the things we value, of our homes, our cars and our valuables, the financial impact of risks, big and small – from fire, flood, storm and earthquake, theft, car accidents, travel mishaps – and even from the costs of legal gainst us. We can choose the types of risks we want to cover by choosing the right kind of policy plans with the benefits we need.
When you buy an insurance policy, you pay premium. That money joins the premiums of many thousands of other policyholders and goes into a big pool of funds.
If things go wrong or loss of things, your insurer may either repair or replace the items that have been lost or damaged, depending on the terms and conditions policy. You may also have the choice of receiving a cash settlement or the amount of money agreed in your policy benefits..
Buying peace of mind not only policy.
It’s only natural to wonder what you would do if you were in the same situation. Could you recover financially without insurance?
Sure, the risk of these things happening to you may seem small. But if it did happen, the impact it could have on your finances, your lifestyle and potentially your future, could be huge.
Whether you’re a born worrier or an unflagging optimist, a plan-every-detail person or someone who is happy to go with the flow, purchasing an insurance policy (which you hopefully never have to use) buys you something priceless – peace of mind.
Taking out insurance means that you are not facing these unexpected risks alone.
A general insurance policy typically has a period of a few years.