Insurance can be confusing and difficult to understand. Therefore, we’ve created this page so you can learn about insurance and gain a basic understanding of your insurance policies.
What Is An Insurance Policy?
An insurance policy serves as protection against financial losses due to certain events. It is a legally binding contract between the policyholder and the insurance company. The policyholder, who is an individual or an entity, agrees to pay a premium to the insurance company in exchange for coverage. The insurance company collects the premium and distributes part of it to a policyholder in the event of a loss.
Learn About The Most Common Insurance Policies
There are many types of policies, but we’ve highlighted the most common ones. Follow the links to get more details.
In the near future, we will be adding a glossary to help you better understand the terms. In the meantime, if you would like to learn more about insurance, you can refer to the Wikipedia Insurance page.