Type of Insurance

Type of Insurance

Insurance is a contract (policy) in which an insurer indemnifies another against losses from specific contingencies and/or perils. Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.

Understand the basic difference between the types of insurance such as Home Insurance, Automobile Insurance e.t.c
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Sample Question

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You are in an accident and although you do not need to be in the hospital, you require full-time care by medical professionals in your home.