Tuesday, June 21, 2011

Types Of Insurance

Hey people, today im going to write a few words about insurance. 

There are different types of insurance. Some types of insurance are required by law(such as vehicle insurance), while the others are voluntary.

There are certain situations when some institutions demand that you have insurance in order get credit, travel abroad, take car on lease and so on. The most common types of insurance (in no particular order) are:


- Property insurance, (buildings, equipment, houses and possessions),which provides protection against most risks, such as fire, theft or damage caused by weather or flood.

- Car insurance which provides protection against damage to your car resulting from theft or accident

- Insurance against accidents, securing people in case of unexpected events while performing their regular work, or during free time, ensuring the payment of pre-agreed amount of money in the event of disability or death of the insured person.

- Voluntary health insurance that covers medical expenses, or provide payment of all or part of the agreed sum insured if there is a serious illness or surgery.


- Life insurance provides benefits for the  family of the deceased or another designated beneficiary. There are two basic types of life insurance: insurance against death and a mixed insurance (insurance which provides life insurance with savings features).

Annuity insurance, which provides payments in advance of the contracted amount of money continuously, immediately after a single premium payment or after the contract period.

Some insurance policies (eg, insurance against accident, life, health insurance) may be group or individual.


Group insurance is usually offered through employers or organizations (eg, travel agencies, banks). All employees or members eligible for insurance may participate in group policy, regardless of age or physical condition. The premium for group insurance is calculated based on the characteristics of the group as a whole, such as average age and degree of job risk. It is usually cheaper than individual insurance.


If you can not access group insurance, consider buying individual insurance. Unlike group insurance, buying individual insurance is done directly from insurance companies or through agents or intermediaries.


The degree of risk determines whether you qualify for and how much insurance will cost you.


There are many kinds of products for each type of insurance. They offer different levels of protection and price vary considerably. It pays to investigate different insurance offers not only due to the cost of insurance, but also because of the level and scope of insurance coverage that you need.

29 comments:

Michael said...

Handy article, cleared a few things up for me.

Major.Mack said...

I need the kind that pays up. No questions asked.

Garrett Brown said...

Hey whats up? I'm about to shamelessly plug my corny blog featuring completely original comics about all sorts of things! From me complaining to me being melodramatic, you'll love some of it, I promise but can't guarantee! (P.S. thanks for the insurance info, I just got sued)

baka1236 said...

nice post man. really informative. Now i know the different insurances :P

paulz said...

Very informative great writeup.

rakoth said...

Thanks for the info :)

Dick Burns said...

Looks like I have some holes in my insurance game. Better make some calls and get some quotes.

Duhniel S. said...

i dont have an insurance :c

neversettleforsecond said...

Thanks on the article, even though I think insurance is a scam. Mathematically, how could they profit if you save money?

Rudolf said...

nice blog!

ExoticBlogger said...

nice detailed list!

Favi said...

this was very helpful, thanks!

fabio_2007 said...

great info

Steve said...

Mmm, I'm pretty sure flood insurance is one you have to get separate. It's not included in any property insurance

Patti D. said...

Very interesting post!!

You can visit my NEW blog here.

Skeng said...

That was a great post, these are the kinds of things I've always thought about as a kid: Who teaches your parents about this stuff? I never learnt about it in school so where do people learn it?
Now I know!

tsk said...

Hmmm... interresting!

Kingmush said...

So many types of insurance...D: Such a confusing thing.

Zach said...

Thanks for the info, I have really no knowledge of insurance outside of the absolute basics. I have to agree with Skeng

ebm93 said...

It is very important to keep this in mind. Thanks

joseph said...

yeah, everyone should keep that in mind.

Azurikai said...

good to know all of this, especially as a college student soon to graduate!

Rasenore said...

I actually didn't really know much about insurance. I've never had to, but I've recently completely left the teens, so I guess it's something to pay more attention to. It was quite an enlightening post, to say the least.

STRAFOR said...

Thanks :D

Brinster's Folly said...

I never knew I could get so many different types of insurance

Devour said...

Wow very informative, thanks for the info. ")!!! Is this like a profession of yours ?

lunatic said...

great writing

LasseEA said...

Insurances of different type! :O followed

BojanCo said...

@ Devour
Yes it is :)

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