Different Types Of Insurance Explained
Article by Jeremy Smith
A person can get insurance quotes for so many different kinds of policies that it can often be very confusing to understand exactly what the separate types of insurance policies cover. It can be hard for a person to know if they are looking at quotes for styles of coverage that they actually need. The following are a few of the most common types of policies that people will get insurance quotes for, followed by a brief explanation of each type.
Life CoverThis policy pays out a lump sum of money to the family of a deceased person. That money can then be used by the family in whatever way they see fit. The amount that one has to pay depends on how big the lump sum is and how large of a risk the person is to the company.
Funeral CoverageOften confused with life cover, funeral insurance is actually there to take on the cost of a ceremony and burial. Instead of always paying a lump sum, funeral coverage can often be billed directly as medical or dental insurance are. Funeral insurance is much cheaper and provides security for the family in the case of an unexpected death.
Pet Plans This can be used to pay for a pet’s medical costs. The insurance quotes for this type of a plan will reflect how much the animal is worth and how prone it is to becoming injured.
Home And Contents PoliciesA home and contents policy protects both the building and everything that is inside if it is destroyed in a flood, a fire, or some other event. These are most often sold together to homeowners.
Renters CoverageSimilar to contents policies, renters coverage only works for what is inside of the rented space. This is because the owner of the building is expected to have a policy on the structure. The person renting does not have any responsibility for that and only has to worry about the things within the building that he or she owns.
Seniors InsuranceThis is just a general term that refers to any plan that is aimed at seniors. These plans are designed to fit the needs and financial situations of seniors.
Auto Coverage This is necessary in many places if one is even going to be allowed to drive on the roadways. This protects not only the automobile, but the damage that it does to other people or property. This comes in many levels, some of which will pay for a car to be replaced.
About the Author
Author is a freelance copywriter. For more information about Insurance quotes, please visit http://www.guardianinsurance.com.au/.