Insurance for Vans

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An Insurance is a promise to pay a compensation to an individual or an establishment by an Insurance Company. Insurance Companies issue different policies to cover losses (risks) of different nature. The policy is the contract between the Insurance Company and the Insured (an individual or the establishment).

A policy is issued for a particular period. During this period the Insured will have to pay periodical payment called Insurance premium to the Insurance Company. An Insurance policy is a promise by the Insurance Company to compensate the loss occurred to the Insured by an assured sum.

All policies will have the name of the person to whom the payment to be made in case of the death of the insurer. The person so named is called a beneficiary. The Insurance Company is responsible to pay compensation only if loss occurs before the expiry of the policy.

The liability of the Insurance Company to provide cover will be limited to the period up to which the policy is valid. The sum assured depends on premium and the duration of the policy.

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There are different types of Insurance Policies. Main policies are Life insurance, Home insurance, Auto insurance, Travel insurance and Health care Insurance.

Life insurance policy is the one taken by an individual to get insurance cover in case of death of self or any other family member. Death or disability due to accidents gets covered under this policy.

Life Insurance policies of different types like Endowment policy, Money back policy, Term insurance policy and Whole life policy are more popular. These policies have different terms and conditions.

There are different types of Life Insurance policies. Term Insurance policy, Endowment policy, Whole life Policy and Money back policy are some of the popular variations in the life Insurance policies.

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The risk of accident to a vehicle is covered by the Auto Insurance policy and owner gets the cost of repair of vehicle if it is getting involved in an accident.

An insurer can get cover for his vehicle against accident under an Auto Insurance. If the vehicle of the insurer gets damaged in an accident, then the repair charges will be met by the Insurance Company.

The insured gets the hospital expenses under the Health care Insurance policy. This type of policy may cover only certain kind of illness.

Insured under Health care insurance will get his hospital bills paid by the Insurance Company for diseases mentioned in the policy.

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In the case Home insurance policy is meant to cover the loss and damages occurring to the house and the house hold articles. The loss due to theft and damages due to fire and fury of nature is covered by this policy.

Information on an insurance policy will be available the authorised agents of Insurance. One can get details from Net also. There are lot of risks in everyday life. An insurance is a risk management method to reduce the impact of loss.

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