Auto insurance (also known as, car insurance, or motor insurance) is insurance purchased for cars, trucks, motorcycles, and other road vehicles and can offer financial protection against theft of the vehicle and possibly damage to the vehicle, sustained from things other than traffic collisions. The cost of vehicle insurance depends of many factors for example: Type of vehicle; Age of the drivers; previous insurance history and driving record; your employment and whether you maintain other insurance with the same insurance company/agency are all factors that can be used to determine your premium.COMMERCIAL PROPERTY INSURANCE:
Property insurance provides protection against risks to property, such as fire, explosion, vandalism, theft, windstorm/hurricane, earthquake or flood damage. Items protected can include, Buildings, Business Personal Property, Stock/Inventory, Leasehold Improvements, Fixtures & Equipment, etc.
Other types of property insurance are as follows:
Boiler insurance (also known as boiler and machinery insurance, or equipment breakdown insurance) insures against accidental physical damage to boilers, equipment or machinery.
Builder's risk insurance insures against the risk of physical loss or damage to property during construction. Builder's risk insurance is typically written on an "all risk" basis covering damage arising from any cause (including the negligence of the insured) not otherwise expressly excluded. Builder's risk insurance is coverage that protects a person's or an organization's insurable interest in materials, fixtures and/or equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from an insured peril
Flood insurance protects against property loss due to flooding. Many U.S. insurers do not provide flood insurance in some parts of the country. In response to this, the federal government created the National Flood Insurance Program which serves as the insurer of last resort.HEALTH INSURANCE:
Health insurance is insurance against the risk of incurring medical (& Dental) expenses among individuals within a specific group. Health insurance is defined as "coverage that provides for the payments of benefits as a result of sickness or injury. Includes insurance for losses from accident, medical expense, disability, or accidental death and dismemberment". Currently coverage is only available for groups with a minimum of two (2) employees.HOME INSURANCE:
Home insurance, also commonly called hazard insurance or homeowner's, is a type of property insurance that covers a private residence. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home (Coverage "A" - Dwelling), and/or its "out" buildings (Coverage "B" - Other Structures) its contents (Coverage "C" - Personal Property) , additional living expenses (Coverage "D" - Loss of Use), or loss of other personal possessions of the homeowner, as well as liability (Coverage "E" - Personal Liability) insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.
Typically, claims due to floods or war (whose definition typically includes a nuclear explosion from any source) are excluded from coverage, amongst other standard exclusions (like termites). Special insurance can be purchased for these possibilities, including flood insurance.
The cost of homeowner's insurance often depends of many factors for example: What types of building materials are used to construct the home, i.e. exterior walls and roof; What it would cost to replace/rebuild the house; What specific mitigation measures exists such as adequate fire extinguishers, smoke detectors, security system and hurricane shutters; Whether you maintain other insurance with the same insurance company/agency, age; employment are all factors that can be used to determine your premium.LIABILITY INSURANCE:
Liability insurance is a very broad superset that covers legal claims against the insured. The protection offered by a liability insurance policy is twofold: a legal defense in the event of a lawsuit commenced against the policyholder and indemnification (payment on behalf of the insured) with respect to a settlement or court verdict. Liability policies typically cover only the negligence of the insured, and will not apply to results of willful or intentional acts by the insured.
General Liability or Public liability insurance covers a business or organization against claims should its operations injure a member of the public or damage their property in some way. This could be a customer "slipping & falling" within in your premises or getting sick from using your product or eating your food, in the case of a restaurant for example.LIFE INSURANCE:
Life insurance (or commonly life assurance, especially in the Commonwealth) is a contract between an insured (insurance policy holder) and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the "benefits") in exchange for a premium, upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses (such as funeral expenses) can also be included in these benefits.
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; common examples are claims relating to suicide, fraud, war, riot, and civil commotion.
Life-based contracts tend to fall into two major categories:
Protection policies - designed to provide a benefit in the event of specified event, typically a lump sum payment. A common form of a protection policy design is term insurance.
Investment policies - where the main objective is to facilitate the growth of capital by regular or single premiums. Common forms (in the U.S.) are whole life, universal life, and variable life policies.PROFESSIONAL LIABILITY INSURANCE:
Professional liability insurance, also called professional indemnity insurance (PI), protects insured professionals such as architectural corporations and medical practitioners against potential negligence claims made by their patients/clients. Professional liability insurance may take on different names depending on the profession. For example, professional liability insurance in reference to the medical profession may be called medical malpractice insurance.
Directors and officers liability insurance (D&O) protects an organization (usually a corporation) from costs associated with litigation resulting from errors made by directors and officers for which they are liable.
Errors and omissions insurance (E&O) is business liability insurance for professionals such as insurance agents, real estate agents and brokers, architects, third-party administrators (TPAs) and other business professionals.POLLUTION LIABILITY INSURANCE:
Environmental liability insurance protects the insured from bodily injury, property damage and cleanup costs as a result of the dispersal, release or escape of pollutants.