FAQ

Insurance is a contract or policy that provides financial protection and compensation in the event of specified risks, such as accidents, illnesses, property damage, or other unforeseen events. In exchange for regular premium payments, the insurer agrees to cover the insured's losses or liabilities.

Common types of insurance include health insurance, auto insurance, life insurance, homeowners or renters insurance, disability insurance, and liability insurance. There are also specialized policies for specific needs, such as travel insurance, pet insurance, and business insurance.

To choose the right insurance coverage, assess your needs and risks, research different policies, and compare quotes from multiple insurers. It's important to consider factors such as coverage limits, deductibles, premiums, and the insurer's reputation when making your decision.

A premium is the amount of money you pay to an insurance company in exchange for coverage. Premiums are typically paid on a regular basis, such as monthly or annually. The cost of your premium depends on various factors, including the type of insurance, your coverage level, and your personal risk profile.

A claim is a formal request you make to your insurance company to receive compensation for a covered loss or event. This could include medical expenses, property damage, or other covered expenses. The insurance company will assess the claim and, if approved, provide the appropriate payout.

A policyholder is the individual or entity that holds an insurance policy. The policyholder is the one who pays the premiums and is entitled to the benefits and coverage outlined in the policy.