General insurance is a broad category of insurance designed to provide financial protection against specified risks and losses. Depending on the product, the insurer may compensate the policyholder for eligible losses, pay covered medical expenses, settle a third-party liability or provide another benefit defined by the policy.

Most general insurance policies are issued for a defined policy period. The extent of protection depends on the sum insured, insured value, deductibles, exclusions, conditions and other terms of the policy.

Therefore, comparing only the premium can be misleading. A policy with a lower premium may have a different level of coverage, deductible, network, exclusions or limits.

Medical treatment can create substantial financial pressure, particularly when hospitalization or major procedures are involved. Health insurance is designed to reduce the financial impact of eligible healthcare expenses.

Factors to Consider Before Buying Health Insurance

Motor insurance protects vehicle owners against specified risks associated with their vehicles and third-party liabilities. The exact coverage depends on the type of policy selected.

Travel insurance is particularly relevant when travelling away from home because unexpected medical, trip or baggage-related events can create significant costs.

Before buying a travel policy, check the geographical area covered, policy duration, medical coverage, exclusions, deductible, claim procedure and any destination-specific requirements.

A home represents one of the largest assets for many families. Home insurance can be structured to protect the building, contents, or both, depending on the policy.

When calculating the required protection, do not automatically use the market selling price of the property. The appropriate insured value can depend on the type of cover and policy terms. Read the product wording carefully before selecting the sum insured.

Personal accident insurance provides specified benefits following covered accidental events. It can complement other forms of insurance because health insurance and life insurance may address different financial risks.

When evaluating a personal accident policy, examine the definition of accident, benefit amounts, permanent disability definitions, exclusions and applicable conditions.

Businesses face risks that can range from damage to property and equipment to liability claims, transit risks, employee-related risks and interruptions to operations.

Commercial insurance should therefore be evaluated based on the nature of the business, assets, revenue exposure, contractual obligations, liability risks and operational dependencies.