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13 Types of Property Accident Insurance Explained

Types of Property accident insurance – Property accident insurance is a contract that the owner of the property enters into with the insurer to compensate for the risk of property damage due to an accident. Under this agreement, the insured bears the risk of speeding up the property of the insured in return for a fixed premium. Currently different types of property insurance are observed.

Types of Property accident insurance is discussed below:

Motor vehicle insurance:

The contract that the owner of the motor vehicle enters into with the insurer for financial compensation while traveling on the road is called motor vehicle / motor vehicle insurance. The insurer bears the responsibility of the insured in return for a fixed premium.

Motor cycle insurance:

Motorcycle insurance is an insurance similar to a car. Motorcycle insurance is a contract that the owner of a motorcycle enters into a contract with the insurer to obtain financial compensation for accidental damage to the motorcycle due to a collision or collision while driving on the road. The insurer bears the responsibility of the insured in return for a fixed premium.

5 Types of Personal accident insurance

Types of Accident Insurance

Aviation insurance:

If the aircraft is completely or partially damaged in an accident causing huge losses, the insurance that is taken to get financial compensation for this loss is called aircraft insurance. Biman insurance has been around since 1947. At present, insurance companies in all countries of the world insure aircraft.

Crop insurance:

Crop insurance is an insurance contract that is performed at a premium to avoid the risk of crop failure due to heavy rains, droughts, storms, waterlogging, pests, etc. Under this insurance, the insurer pays compensation to the insured in case of damage to the grain.

Cattle insurance:

If a cattle dies due to an accident in Kona, its owner insures the cattle to protect it financially. That is to say, the insurance that is given to the owner to get rid of the financial loss or compensation from the financial loss of the owner in case of sudden or sudden death of the disease is called cattle insurance.

Definition of Accident Insurance

5 Types of Car Insurance

Engineering insurance:

After the Industrial Revolution, the use of steam power in industries and factories increased in England and other European countries. At the same time, the number of accidents also increases. Therefore, the insurance contract that is executed to get financial compensation for the loss of various machinery and equipment used in the industry is called technical insurance. .

Theft insurance:

Theft, robbery, robbery and snatching are constantly happening in the society. This is causing special damage to the property. Therefore, the insurance contract executed between the insurer and the insured to protect its owner financially from losses due to theft, robbery, robbery, snatching, etc is called theft insurance.

Plate-glass insurance:

Plate-glass insurance is an insurance contract that is made to cover the risk of damage by breaking the valuable plate-glass used in the home. Under this insurance, if the valuables of the victim are broken or damaged due to any reason, compensation is given.

Luggage insurance:

Travelers may lose valuable bags, bedding, etc. during the journey or may be lost for various reasons. Therefore, the insurance contract that is executed to protect the traveler from the loss or destruction of various items of the traveler while traveling is called Talpitalpa insurance.

Cold storage insurance:

Merchants to store their valuable perishable goods. Using cold storage. Thus, the insurance that is performed to get financial compensation for the loss of goods kept in the cold storage is called cold storage insurance. In the case of cold storage insurance, all the conditions imposed by the insurer must be complied with by the insured. Otherwise the insurer may not compensate.

Rain insurance:

Due to heavy rains or droughts, various parties, especially farmers, are severely affected. Therefore, this issue can also be considered as a crop issue. Rain insurance is issued on the condition that compensation will be paid if there is more or less rain than the specified limit and the crop is damaged due to that rain.

War risk insurance:

War can cause loss of life and property. In the case of marine insurance or fire insurance, additional insurance premiums can be used to protect against such risks. Apart from that, war risk insurance can also be collected against accidents arising out of war-related reasons.

Definition Of Vehicle Insurance

Hizaking insurance:

Robbery is a social crime. Today it has increased tremendously in all societies. While walking or driving with cash, gold ornaments, portable valuables, a person can suddenly fall prey to snatchers and disappear. By collecting the snatched insurance policy, the affected party can be financially protected from such losses.

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