Life is a risk. Every step you take has risk factor associated with it. Though every human being realises nor life is permanent nor any property, asset or accessory he owns is permanent, he never wants to spend his hard earned money on anything he wouldn't get profits for. All he wishes is to enjoy every bit of what he owns no matter what the circumstances are. But what makes anyone wonder is, how can any commodity be saved under any kind of situation. Well, the answer would be by taking a General Insurance.
The palpable assets are often prone to damages which need to be protected in order to protect their value. Costly merchandise cannot be left behind if they are damaged or ruined. Thus they need to be insured from time and over so that there is not much financial loss for the owner.
Insuring anything other than life is general insurance. Insurance for any health, fire accidents, automobile, car, home, property, travel, house commodities, business properties or even insurance for a body part all come under the umbrella term general insurance. Since this does not include life insurance, it is also called NON-LIFE INSURANCE.
Due to any valid reason, if the insured product is damaged, the insurance provider releases fixed amount looking at the consequences that led to the damage. Depending on the property insured, the greater the risk it carries the costlier the policy shall be.
The premium depends on the asset insured and like life insurance, the premium can be paid in instalments at regular intervals like quarterly, half yearly or annually or in a single payment before the policy coverage starts.
While, the insurer definitely provides some amount for the damage occurred, it also depends on the cause of the damage. For example, some companies have a clause where insurance will be provided for the damage by any natural disasters like earthquakes, floods etc. and some companies strictly are against that clause. Hence, selecting the right company with all the clauses included is a must for the insurance seeker.
Not all entrepreneurs have the capacity to withstand financial losses in a company.Especially, if the companies are small or even start ups, bearing a major loss will not be an easy task.
To avoid any such drastic affect on the growing business, a business insurance is applied which covers most of the loss. There are various sub heads under which a business insurance is divided.
• Professional liability insurance- In case a company is unable to do well due to any mistakes/ failures, the professional liability insurance saves the company from the huge loss due to failure.
• Property insurance - Insurance for property includes furniture or other material damaged due to any unexpected incident, most often fire accidents. A property insurance does not guarantee coverage for the entire building under few circumstances.
• Product and vehicle insurance - This covers insurance for the products manufactured in a company. Vehicle insurance is for all the vehicles used by an organization to deliver or supply their products to the customers. In case of heavy vehicles it becomes mandatory for the vehicle to be insured so as to avoid legal proceedings.
Based on the risk associated with the business, insurance coverage is provided.
Let the reason of travel be anything, either for business or leisure no one would ever want to spoil an amazing trip with any unexpected tragedy.Even before travelling,
any person can get a travel insurance to avoid any such obstacles to a great trip. From flight tickets to place of stay, everything can be insured making it less risky wherever you be. Some clauses in a travel insurance would be related to the insurance seeker's health, salary and income. But some companies offer all the checkups before the insurance is issued. With the help of this, one can access to hospitals worldwide, claim coverage due to loss of passport and any other documents. But one point to remember in case of a travel insurance is that it is not easy to get a coverage nor is as cheap as other general insurances.
Vehicle insurance is granted for commercial vehicles like trucks ,lorries , DCM's etc or even for non-commercial vehicles i.e.
vehicles for personal use. Under non- commercial vehicles there are two wheelers as well as four wheelers.
When there is lot of money invested in buying a house, the loss that has to be faced in case of any damage is not something that one would wish.
Since the damage cannot be stopped, the money spent on the property can be earned back through a house insurance. Insurance provides a sum during the damage or loss of a property the reason being whatsoever.
As an organization with an aim to fulfil customer's needs, we act as a bridge between the client and the insurance givers.
FINSTRUMENT acts as a connecting line for the client to help him meet the right destination and get his work done faster than average. With more 15 years of experience, we have successfully helped many people to get a general insurance coverage for their properties, vehicles or travels.