Have you ever wondered how many insurances there are and what advantages each one has? According to information from the Federal Consumer Attorney’s Office (Profeco), there are several types, which support and protect what you appreciate the most or that you could hardly replace with your own means.
In fact, having insurance protects economically from the risk of losing an asset that you could hardly recover. For this reason, to have a financial stabilityit is necessary to learn what they are for and what they are.
How many insurances are there?
Profeco says that there are these types of insurance:
1. Life insurance
In this insurance, the insurance company pays the beneficiaries an insured sum in case of disability, survival or death of the insured, in accordance with the contracted conditions, it being a fundamental requirement that the policy is in force.
two. vehicle insurance
Driving a car involves risks and responsibilities that can affect your assets, your health or that of third parties. Car insurance protects you against damage or total or partial loss of your vehicle in the event of an accident or theft, as well as medical expenses that are generated by the accident.
3. Home insurance
The companies that offer it make the quote according to the area where you live, and the risks to which the property is exposed.
This type of insurance is classified as follows:
1. Contents insurance covers furniture, for example, electrical appliances, clothing, jewelry, works of art, etc.
2. The theft policy is only paid when it comes to robbery with violence.
3. Natural disaster insurance covers damage caused by earthquakes, hurricanes or floods, among others. It has two modalities:
a) The first covers construction only.
b) The second also covers its content.
4. The fire insurance covers all the goods inside the house, in addition to the building’s facilities.
Four. Insurance of major medical expenses greater
They cover the injury or disability that affects the personal integrity or health of the insured, caused by an accident or illness.
5. Educational insurance
They guarantee to cover the university education of minors through a savings plan for a certain amount of money. The payment of this insurance can be monthly, quarterly, semi-annually or annually.
Educational insurance generally focuses on covering university studies, because the population with higher education is smaller compared to other educational levels.
In the end, you should consider that each insurance has its own defined characteristics, which are determined at the time the interested party signs the contract with the company they have chosen.
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