General insurance policies provide financial protection against various unforeseen emergencies and contingencies. These policies offer coverage for non-life assets like health, vehicles, homes, travel, and more. Here is an overview of the different types of general insurance policies available in India.
Health insurance
Health insurance policies provide financial support to policyholders to cover various medical expenses. Comprehensive health insurance, top-up coverage, and add-on covers are the primary types of health insurance coverage.
- Comprehensive health insurance covers hospitalisation expenses, ambulance charges, surgical procedures, and pre/post-hospitalisation expenses.
- Top-up coverage offers the option to increase your existing health cover in case it is exhausted.
- Add-on covers provide extra protection for specific illnesses.
Different types of health insurance policies
You get different types of health insurance policies designed specifically for individual needs.
Individual health insurance
Individual health insurance policies offer coverage for an individual's medical needs. It helps cover hospitalisation expenses, surgical procedures, and pre-and post-hospitalisation expenses. The coverage depends on the type of policy chosen, and policyholders can opt for additional coverage through add-on covers.
Family health insurance
Family health insurance policies are designed to cover the medical needs of the entire family. It is a cost-efficient way to secure the healthcare needs of all family members under one policy. It offers coverage for hospitalisation expenses, surgical procedures, pre-and post-hospitalisation expenses, etc.
Senior citizen health insurance
Senior citizen health insurance policies offer coverage to individuals aged 60 or above. These policies provide additional coverage for age-related conditions, pre-existing medical conditions, and more. The policy also helps cover hospitalisation expenses, surgical procedures, pre-and post-hospitalisation expenses, etc.
Parents health insurance
Parents health insurance provides medical coverage to parents of policyholders. It ensures that the policyholder's parents have access to quality healthcare without any financial strain on the family.
Maternity health insurance
Maternity health insurance policies provide coverage for medical expenses incurred during pregnancy and childbirth. It includes expenses like regular checkups, hospitalisation charges, delivery charges, and more.
Personal accident insurance
Personal accident insurance offers coverage for accidental injuries and disabilities. It provides financial support to policyholders in case of partial or permanent disability, accidental deaths, and more.
Critical illness insurance
Critical illnesses insurance provides financial support to policyholders in case of critical illnesses like cancer, heart attacks, kidney failures, etc. It offers coverage for the hospitalisation and treatment expenses of these conditions.
Motor insurance
Motor insurance provides coverage to policyholders in case of damages caused to their vehicle or a third party. There are primarily three kinds of motor insurance coverage.
- Comprehensive insurance covers damages to the policyholder’s vehicle as well as third-party damages.
- Third-party insurance offers coverage to the policyholder against damages caused to third-party vehicles or property.
- Own damage insurance covers the policyholder against damages caused to the insured vehicle due to natural or man-made calamities.
Different types of motor insurance policies
You can choose from the following types of motor insurance.
Car insurance
Car insurance policies are designed to cover damages to cars caused by natural calamities, accidents, and thefts. The policies offer comprehensive coverage for damages caused to the policyholder's car as well as third-party damages. Car insurance policies come with add-on covers like zero-depreciation cover, engine protector, etc. You can compare and buy car insurance policies online.
Two-wheeler insurance
Two-wheeler insurance policies offer financial support in case of damages caused to the policyholder's two-wheeler due to accidents or theft. You get comprehensive bike insurance and a third-party bike insurance policy. You can choose from the types of bike insurance to get coverages as per your requirement and budget. Compare bike insurance policies online to get better coverages.
Commercial vehicle insurance
Commercial vehicle insurance policies offer financial support against damages caused to commercial vehicles due to accidents, theft, and natural calamities. This type of motor insurance policy covers vehicles used for commercial purposes like trucks, buses, and other commercial vehicles.
Home insurance
A home insurance policy provides coverage for the policyholder's home and its contents. You get coverage against damages incurred from natural disasters like earthquakes, floods, and fires. Coverage also includes losses for household contents like furniture, appliances, etc.
Travel insurance
Travel insurance covers policyholders against any financial losses incurred while travelling. Get coverage for medical expenses, trip cancellations or interruptions, loss of baggage, and accidental coverage.
There are different types of travel insurance policies that cater to the needs of different types of travellers. You can buy domestic travel insurance or international travel insurance as per your requirement.
General insurance policies are essential as they provide a safety net for policyholders and ensure financial protection against unforeseen circumstances. It is crucial to consider various factors like coverage, premiums, add-ons, and exclusions when selecting a policy to ensure comprehensive and effective coverage. Choosing the right policy for different types of general insurance will give policyholders peace of mind and safeguard their assets.
