Insurance For Calamities

Insurance, regardless of what it specifically covers, has become a mandatory inclusion of the expenses in the modern society. In essence, having a comprehensive policy allows the holder to feel safe in the eventuality of a misfortune.

i. Fire Insurance:
Fire insurance is a form of property insurance which protects people from the costs incurred by fires. When a structure is covered by fire insurance, the insurance policy will pay out in the event that the structure is damaged or destroyed by fire. Some standard property insurance policies include fire insurance in their coverage, while in other cases, fire insurance may need to be purchased separately. Property owners should check with their insurance companies if they are not sure whether or not fire insurance is part of their policies, and if fire insurance is not included, it should be purchased.
ii. Marine Insurance:
Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination.

iii. Miscellaneous:
Miscellaneous Insurance refers to contracts of insurance other than those of Life, Fire and Marine insurance. It covers a variety of risks, the chief of which are Personal Accident insurance, Motor Vehicle Insurance, Fidelity Insurance, Credit Insurance, Travel insurance etc.