General Insurance plans cover all types of insurances but Life Insurance. Unlike Life insurance, General insurance plans have a fewer term. It covers all damages to your assets from thefts, robbery, fire, accidents etc. There are a few categories of general insurance.
Motor Insurance – These Insurance plans cover all damages and liability related to a vehicle related on and off road emergencies. A comprehensive insurance plan covers all damages to vehicles from natural and man-made damages.
It offers two types of coverages for your vehicle.
- Comprehensive motor Insurance – Covers all damages to your vehicles.
- Third party only motor insurance – Provides coverage only to the third party damages involved in the accidents.
According to Motor Vehicles Act, 1988, all the vehicle owners must have a valid insurance cover for their vehicle. Otherwise, the owner has to pay the penalty.
Health Insurance – With the increase in health …