Allgemein » Insurance is a form of risk management

Insurance is a form of risk management system where the insured person transfers the cost of potential loss to another entity in exchange for monetary compensation. It is a promise for specific future potential losses in exchange for periodic payments. The payment done by the insured is called a premium. The premium is to be paid regularly over a period of time so that in the event of a potential loss Mike Conley Kids Jersey , the money lost can be recovered from the insurance agencies.


The complexity of modern day businesses has made insurance an absolute necessity. Apart from life insurance, there are number of other insurances that are offered by insurance companies to compensate potential losses. Different types of insurance include:


Liability Insurance:-Liability insurance is a commercial insurance that covers the financial losses which might arise in case of any physical injury or property damage caused by the insurer or company’s employees to others. It covers lawsuits and similar claims. Such policies apply when the accident take place at the insured’s premises or customer’s location. Regardless of the size of business, it is fundamental to consider liability insurance as a precaution to cover your business against all kinds of liabilities.


Business Insurance:-Risks, uncertainty and insecurity are part of every business. This makes insurance even more necessary for business organizations. Business Insurance protects the business owner against losses and insures company’s day-to-day operation. Running a business comes with potential risks Zach Randolph Youth Jersey , which should be managed ahead of time through different forms of business insurance.


Commercial Insurance:-Commercial Insurance is an equally important investment. The most common types of commercial insurance are property insurance and liability worker’s compensation.
Life Insurance:-Life Insurance provides monetary benefit to a designated beneficiary after a person’s death. The objective of this type of insurance is to help the beneficiaries financially after the owner of the policy dies.


Auto Insurance:- Auto insurance as the term suggests, insures your vehicle against any potential loss in the event of an accident or theft. It provides coverage against bodily or physical injury caused by collisions or any liability that may result from an accident. Auto Insurance has become absolutely necessary these days and is required along with the purchase of a new vehicle.


General InsuranceAny insurance other than basic life insurance falls under the category of General Insurance. It includes property insurance, which provides coverage in case of fire and allied perils, flood Marc Gasol Youth Jersey , storm, inundation, earthquake, burglary Mike Conley Youth Jersey , theft, machinery breakdown etc.; personal insurance; and liability insurance, which covers legal liabilities.


Home Owners Insurance:-Home owners insurance provides coverage to private homes. This policy can be combined with other policies including home losses, content loss Zach Randolph Womens Jersey , personal possessions, as well as liability insurance for accidents that may happen at the home. The cost of homeowners’ insurance depends on the amount of money required to cover the damages. Although there are many things that are included and excluded, these policies can be customized according to the personal requirements.


Workers Compensation:- InsuranceWorkers compensation insurance provides coverage against wage replacement and medical benefits to employees who happen to be injured on the job. It includes health insurance, in the event of an accident Marc Gasol Womens Jersey , and life insurance in the event of death.


Don't Get Taken for A Ride When Buying A New Car Autos Articles | November 16, 2007
Don't get taken for a ride when buying a new car! Tips every consumer should know about the car buying process and their legal rights under the lemon law.


The winter is an ideal time to purchase a car, according to lemon law office representatives. With an assortment of 2007 and 2008 models on the dealership lots and competitive pricing initiatives, consumers have plenty of opportunities to get behind the wheel of a shiny new car Mike Conley Womens Jersey , truck or SUV that fits their lifestyle.


However, drivers need to take certain precautions to make sure they aren't taken for a ride or stuck with a lemon car. "An automobile purchase is something that should not be rushed", they warn. The Lemon Lawyers offers consumers the following tips: