Insurance companies that do not come under the domain of life insurance are called general insurance.This insurance policy helps us protect ourselves along with our valuable belongings, such as, homes, cars and other precious stuffs. General insurance covers insurance property against fire, theft, burglary, etc., personal insurance covering health, travel and accidents, and other liability covering legal liabilities. This category nearly covers all forms of insurance except life.
General insurance policies are brought as they offer protection against unexpected possibilities like loss or damage of assets. Common forms of this policy are home, fire, motor, health, travel, accident, and other varied forms of non-life insurance. Unlike life insurance policies, the tenure of general insurance policies is not for a lifetime. Most of these policies are annual contracts but however, few products have a long term.