One is an insurance contract that guarantees coverage for damages caused by an accident on a particular good.

Contract of insurance

It is an agreement between two parties, insurer and the insured, which pacta coverage of a risk on an event. In the event of the fact associated with the risk, the insurer will pay the amount stipulated in the contract.

In return, the insured agree to pay a premium. The amount is a function of risk they want to cover and the terms that are expressed in the policy. It is a document that specifies all the conditions agreed upon between insurer and insured for  taking out an insurance policy.

An insurance contract is formed by the well-insured, the premium and risk. For an insured either must meet the following requirements:

·   The object must exist at the time of the contract.

·   Duty be tasable money.

·   It must be destructible because of the risk that ensures.

Insurance Coverage

There are risks to agree with the insurer in the insurance contract. This is the physical and material that the company should cover the insured in the event of an accident.

This coverage can refer for example to the death of a person, to accidents of all kinds, damaging or stealing cars and incencios.

Types of Insurance

·   Social insurance: compulsory insurance are having workers. The costs are borne by the insured and their contractors. In some cases the State also participated. They are governed by laws and decrees that specify the rights and obligations of each party.

·   Private insurance are those that a person or entity contractual self and with the intention of covering a specific danger. There is a need for a premium payment as payment services to the insurer. The rights and obligations of the insurer and insured are specified in the policy.

Private insurance frequently

Insurance companies offer insurance of a private nature and give the possibility of taking out a policy on almost any property. The most common are:

·   Car Insurance: is one that is intended to cover costs incurred by accidents in cars. It is compulsory subscription. The most basic is the third insurance that covers damage caused by the insured to a third party within the limits marked on the policy.

·   Medical Insurance: is one that covers the cost of medical care resulting from the illness of the insured. There are two types: medical use of the table offered by the insurer or advance by the insured in the amount of medical services used. There is also a mixed system.

·   Life Insurance: is one that compensates beneficiaries of the insured in the event that he dies within the policy. It can be temporary or permanent. The first is valid given stipulated in the policy and the second is in force until the insured dies.

·   Disability Insurance and serious accidents: ensuring financial coverage in the event of total or partial disability and accidental death insurance on behalf of their beneficiaries. Generally, is hired as an adjunct to life insurance.

·   Household Insurance: covered the expenses incurred by an accident for housing, such as a fire, a broken pipe or a domestic accident. It can be any risk or simply cover the claims contained in the policy.

·   Liability insurance: covers compensation and repair damage caused by the involvement of the insured in situations that may trigger a lawsuit. The maximum amount covered by this insurance appears in the policy.

Remarks

In addition to these, there are many other types of insurance. Currently, you can subscribe to a policy on almost anything, provided it contains a risk. There are sure a specific part of your body, personal accident, crystal, agricultural, etc.

It is important to read all the clauses of a policy carefully to make sure and claim everything that falls.