what are the different types of insurance coverage?

[Deleted member 28873]

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. An entity which provides insurance is known as an insurer.This are the type of insurance coverage

• Insurance coverage refers to the amount of risk or liability that is covered for an individual or entity by way of insurance services.
• The most common types of insurance coverage include auto insurance, life insurance and homeowners insurance.
• Insurance coverage helps consumers recover financially from unexpected events, such as car accidents or the loss of an income-producing adult supporting a family.
• In exchange for insurance coverage, the insured person is responsible for paying premiums to the insurance company.

 

[Queentener]

Health insurance should also be among the common types of insurance, but unfortunately it is underated in Nigeria. Some Health insurance covers surgery, child birth and everything concerning the insurer's health are been taken care off by the insurance company. To me health insurance should be taken seriously and mandatory for everyone in the country, as this will serve as a means of gaining access to proper health care system at a minimal price.

 

[Alexandoy]

The auto insurance that covers everything is called comprehensive insurance. It pays for the damages to the car that includes theft or total wreck. The insurance will pay the whole value of the car. However, when the car is more than 5 years old the coverage is not in the entirety anymore that you can be shortchanged in the coverage.

 

[Mandy96]

If you ask me I think I could still give you some list of it even though I’m not a fan of it
We have, life insurance, travel insurance, health insurance, auto insurance, and many more. The fact about this is that each of them listed above has their various policies under them