| Insurance Basics | Insurance Basics: Insurance 101
In a variety of situations, insurance is a means of
providing protection against financial loss. It is a contract in which one
party agrees to finance another party's financial loss resulting from a particular
event. Based on the principal of sharing losses, insurance works.
Agree to make regular payments, called premiums to an
insurance company if you wish to be insure...
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| Types of Insurance | Types of Insurance: Insurance 101
By grouping risks according to their focus, insurance
companies create insurance policies. This provides a measure of consistency in
the risks that are covered by a type of policy, which consecutively allows
insurers to look forward to their potential losses and set premiums
accordingly.
Life, health, automobile, homeowners' and renters', personal
property, fire, a...
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