12th Physics Answer Key (By Teacher) (GM)
Home Insurance
Homeowners insurance (also known as home insurance) protects your home, other property structures, and personal possessions against natural disasters, unexpected damage, theft, and vandalism. Renter's insurance is another type of homeowners insurance.
Auto Insurance
Auto insurance can help pay claims if you injure or damage someone else's property in a car accident, help pay for accident-related repairs on your vehicle, or repair or replace your vehicle if stolen, vandalized, or damaged by a natural disaster.
Life Insurance
A life insurance policy guarantees that the insurer pays a sum of money to your beneficiaries (such as a spouse or children) if you die. In exchange, you pay premiums during your lifetime.
Travel Insurance
Travel insurance covers the costs and losses associated with travelling, including trip cancellations or delays, coverage for emergency healthcare, injuries and evacuations, damaged baggage, rental cars, and rental homes.10
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Types of Insurance
There are many different types of insurance. Let’s look at the most important.
Health Insurance
Health insurance helps cover routine and emergency medical care costs, often with the option to add vision and dental services separately. In addition to an annual deductible, you may also pay copays and coinsurance, which are your fixed payments or percentage of a covered medical benefit after meeting the deductible. However, many preventive services may be covered for free before these are met.
What Is Insurance?
Insurance is a contract, represented by a policy, in which a policyholder receives financial protection or reimbursement against losses from an insurance company. The company pools clients’ risks to make payments more affordable for the insured. Most people have some insurance: for their car, their house, their healthcare, or their life.
Insurance policies hedge against financial losses resulting from accidents, injury, or property damage. Insurance also helps cover costs associated with liability (legal responsibility) for damage or injury caused to a third party.