The insurance is a way to manage risk. When you buy insurance, you transfer the cost of a potential loss to the insurance company in exchange for a certain amount of money, called a “premium”.
The insurance company invests this money in a safe way to make it grow and redistributes it when there are claims.
An accident is hardly predictable but it can be detrimental especially in these dark times. So now, right away, for your peace of mind and to secure your financial future, purchase insurance according to your needs. You’ve gone to great lengths, now leave your worries to insurers.
Any wise entrepreneur knows that a business is subject to many risks. The consequences of these, for the most part, are likely to affect her greatly and even lead to bankruptcy.
These risks can come from various sources: Anthropogenic (looting, fire, vandalism), Sanitary, environmental etc. As a result, in his risk management policy, the owner, while adopting preventive measures to reduce the various threats, makes sure to protect and secure the business, by protecting it with insurance coverage, i.e.:
- To protect its material resources in the event of vandalism, theft, accident
- Or to protect its financial resources in the event of a closure causing loss of income
- Or to insure his civil liability as a contractor in the event of errors or negligence on the part of his company.
Insurance protection gap in India is a tool that allows beneficiaries to maintain peace of mind knowing that their property and life are protected. We live in an unpredictable and unstable environment where the situation is deteriorating.
From breakage to fire, from looting to vandalism, from an employee accident to the inability to cope with a disaster, the list of damages is as long as the insurers’ vocation to cover them.
Different types of insurance
Personal insurance covers the risks inherent in human life and offers a complete set of solutions adapted to each situation.
Some contracts provide for benefits in the event of physical injury: death, invalidity (insurance in the event of death), others allow the creation of savings and the payment of this in the form of an annuity or capital if the insured person is alive at the end of the contract (life insurance).
Damage insurance covers both liability insurance (family civil liability, driver’s civil liability, professional liability, etc.) and property insurance (insurance for movable and immovable property, damage to the vehicle, etc.).
The traditional vocation of insurance is to allow the replacement of destroyed or stolen goods. In addition, today liability insurance in the field of domestic life, professional activity, automobile traffic and leisure has grown considerably.
In this case, insurance protection service is taken out against any damage and possible prejudice caused unintentionally to third parties.
The purpose of property and liability insurance is to protect the assets of the insured. Some of them are grouped together in “multi-risk” contracts (multi-risk home, multi-risk business, etc.).
The most common property insurance is fire insurance, theft insurance, water damage or glass breakage, but other types of events are automatically included (natural disasters, attacks, etc.) or offered as an option.