Insurance is a financial protection plan. You pay a company (called the insurer) a fee (called a premium) and in return, they help cover your costs if something bad happens—like an accident, illness, disaster, or theft.
It’s about managing risk.
📂 Main Types of Insurance
1. 🚗 Car Insurance
-
Covers you for car accidents, theft, damage, and injuries.
2. 🏥 Health Insurance
-
Helps pay for medical expenses like doctor visits, hospital stays, prescriptions.
3. 🏠 Homeowners/Renters Insurance
-
Protects your home or belongings from fire, theft, or natural disasters.
4. 🧍♂️ Life Insurance
-
Pays money to your family if you die, helping them financially.
5. 💼 Disability Insurance
-
Replaces part of your income if you can’t work due to injury or illness.
6. ✈️ Travel Insurance
-
Covers cancellations, medical emergencies, or lost luggage while traveling.
7. 🧑⚖️ Liability Insurance
-
Covers legal costs if you’re sued or cause harm to others (used by businesses or professionals).
8. 🐾 Pet Insurance
-
Helps pay for veterinary bills for your pets.
💵 Key Insurance Terms
-
Premium – The amount you pay (monthly or yearly)
-
Deductible – What you pay out of pocket before the insurance kicks in
-
Claim – A request you make for the insurer to pay for a loss
-
Coverage – What the insurance policy actually protects you from
-
Beneficiary – The person who receives money from a life insurance policy
📌 Why Do People Need Insurance?
-
To protect against unexpected costs
-
To meet legal requirements (e.g., car insurance)
-
For peace of mind and financial stability
Would you like help with:
-
Choosing the right type of insurance?
-
Understanding a specific policy?
-
Getting a quote?
Let me know what you’re looking for!