What are the products of General Insurance?

General Insurance: The insurance is taken for non-living things like property, warehouse, automobile etc. The general insurance follows the indemnity principle. In which only losses are recovered from insurance company. If there is no loss then the insured are not able to get anything from insurance company.

Fire Insurance: This insurance is taken to recovered damages or loss due to fire. It also includes damages by explosion, earthquake, flood etc.

Marine Insurance: This insurance is taken to protect the property against sea perils like theft, fire etc. It includes three areas cargo, hull and freight.

Health Insurance: The general insurance is related to non-living things. But it also includes health insurance of an insured because the general insurance is based on indemnity principle and the health insurance also follows the same principle. It means if insured suffered from any health problems only at that point of time the insurer is liable to pay the money up to the expense on medical treatment. If insured stays healthy during the insurance period then insured has no rights to claim money from insurance company.

Automobile Insurance: This insurance is taken to protect motor vehicle, car, truck etc for accidental damages. It is also known as car insurance or four wheeler insurance, two wheeler insurance.

Credit or Liability insurance: This insurance is taken by borrower to protect him or her from the situation or condition where he or she is not able to pay its liability to lender. This insurance helps the insured to pay its liability to its lender. It gives surety to borrower that the money is fully paid by insured even he alive or not.

Travel Insurance: By taking this insurance the insured  is free to enjoy its trip because this insurance covers medical  or non-medical expenses, delay of travel, loss of baggage, extension or accidents etc.  

Business and Commercial Insurance: This insurance is taken to protect the business from known and unknown events. Operating a business is risky so, business owner takes an insurance to protect its business and employees from any damages whether it is related to the damage of building or loss in business operation.

Political Risk Insurance: This insurance is taken to cover the political risk associated with operating or conducting a business in different countries. It covers the losses suffered by business men due to government action or change in government policy of that country. It covers the physical assets, international loans etc.

Professional Liability Insurance: It is also known as Professional Indemnity insurance or error and omission insurance. This insurance is taken different professionals like lawyer, doctor, architect to protect him or her from clients claim because the clients suffers financial loss by professional who does not perform his service well. Non-licensed professionals have taken malpractice insurance to protect against negligence claims.

Miscellaneous Insurance: It includes all the general insurance except fire and marine insurance. It includes theft insurance, personal accidents insurance etc.

Property Insurance:  This insurance helps to protect the property of a insured from any damages. The property includes house of a insured, car etc.