What is General Insurance?
General insurance is an agreement between a policyholder and insurer wherein the insurance company protects your valuable assets from fire, theft, burglary, or any other unfortunate accident.
While life insurance pays a certain amount to the beneficiaries after the death of the policyholder, general insurance protects the financial losses and damage to the policy holder’s valuables and assets. General insurance or non-life insurance can be classified in the following categories:
- Motor Insurance
- Travel Insurance
- Home Insurance
- Crop Insurance
- Commercial Insurance