Other Types Of Insurance Policies

Apart from the standard insurance covers such as life insurance, house owner’s insurance, and health insurance, insurance companies are now also providing new insurance covers. The Terror Insurance cover is one such insurance cover being offered by the insurance companies, which is becoming popular by the day. It is gaining popularity because of the recent increase in the number of terror attacks. Not only are these on an increase, but are also affecting the common man. They happen in our everyday lives affecting our families and our homes.

Terror Insurance policy is not provided by all the insurance providers. Some of the insurance policies have this cover inbuilt in their other policies, such as the life insurance policy or the home insurance policy. Some of the life insurance and the health insurance policies, for example, cover terrorism risks. In such a case, the family members of the insured would get the benefits of the policy in case of the death caused due to a terror attack.

When buying terror insurance cover, keep in mind the following:

– Request the service provider to provide information on individual payouts. Invest in a policy that offers higher individual incident cover.

– Find the prevalent insurance premium rates being demanded by similar insurance providers.

– Determine the extent of risk management and terror attack specialization by your insurance agent.

– Determine the standing of the insurance provider by researching trade journals.

– Get a clear understanding of terror and its clauses to ensure that is covered well in the insurance policy.

– Before investing in the policy, learn about any changes made in the terrorism risk rules.

Apart from terror insurance, people are also investing in the general insurance policies. General Insurance comprises of insurance of property against fire, robbery and any other form of accidental damage to the property.

Some insurance policies that fall under this category are:

– Accident insurance: This insurance policy covers different types of accident which may occur both on and off jobs.

– Aircraft insurance: This insurance policy covers physical damage to aircrafts and physical injury to passengers and crew members.

– Dental insurance: This covers dental injuries such as tooth injuries, accidents, illness, cleaning, dental checkups, tooth and gum disease, tooth extractions, fixing chipped teeth. Orthodontics and denture work

– Marine insurance: This covers loss or damage to ships, cargo or goods in transit.

–¬†Flood Insurance: Helping you when your house becomes the subject of a natural disaster.

You can buy each of these policies, with many others either as an individual policy or a group insurance policy. The policy coverage and its features will then depend on the insurance plan you are opting for. The policy can cover either an entity or an object. You need to pay a specific sum of money as an insurance premium for each policy. These insurance policies may provide some extra benefits to the insured or their dependents and therefore, at times, may require a payment of extra premium.

Posted on: April 17, 2019

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