Insurance

Insurance is a legal agreement between an insurance company and a person that provides for compensation in the case of damage or theft to guarantee. The insurance company , compensate the losses or damages caused by risk according to terms and conditions mentioned in policy in exchange for the payment of periodic amounts of money to the insured. Most insurance policies contain five parts: Declarations, Insuring Agreement, Conditions, Exclusions, and Definitions.
The purpose of insurance is to protect yourself and your family against the financial crash in case of any tragedy.
There are different types of insurance e.g. health insurance, auto insurance, life insurance, home insurance, appliance insurance, title insurance etc.
There are two ways to buy insurance policy. One way is to consult an agent and explain your situation to him. He will guide you what type of policy is best for you. The other is, you research about various types of policies and decide what type of policy you need. If you want to buy insurance policy following steps will help you to buy a policy which is suitable for you.

Step One:

Figure out what type of insurance you should buy which fulfill your requirements.

StepTwo:

Decide the cost of insurance policy because policies vary in how much they cover. Some policies cover specific amounts and others cover percent loss. Some have a deductible and some don’t include specific types of damage. Read out their terms and conditions carefully and decide which one is better for you.

StepThree:

Select the insurance company which is able and willing to pay on claims properly according to terms and conditions of purchased policies.

StepFour:

Fill out the forms given by the company carefully after the reconfirmation of benefits, premium and cost of policy which is selected by you.