What is insurance what types of insurance are there?
Our economy grows, more cars hit the road, and the risk of accidents increases. And the costs involved, both financial and other, can be extremely high. Not only does it make sense to ensure that you are properly covered against theft, accident or damage, but Mozambican law makes third-party insurance mandatory coverage. Hollard Mozambique offers a range of options according to your context, financial availability and driving style.
What is insurance?
An insurance is a contract between a person or company and an insurance company. This contract establishes that any person, property, property or other object – called an insured – is covered against risks.
What types of insurance are there?
Insurance can be taken out by both individuals and legal entities – companies, in other words. There are types of insurance that are common to both, and others that can be taken out only by individuals or only by companies.
For individuals, the most common and known are:
- Life insurance : it protects the insured and their beneficiaries against death or disability; it is possible to include other additional coverage in the life insurance contract that extends the protection to the family;
- Auto insurance : it guarantees coverage of the vehicle in question in various situations – theft, robbery, material damage, accidents, among other situations;
- Personal property insurance : smartphone, purse, jewelry and other personal property can also be protected by insurance in cases of loss, theft and theft, for example;
- Travel insurance : guarantees that the insured, in other countries, will have health care, reimbursement for flight cancellations, lost luggage, theft and other specific coverage;
- Health insurance : this insurance guarantees that the insured will have health care if needed; private health plans are, in a way, health insurance.
One type of insurance that can be taken out by both individuals and companies is property insurance – it protects homes, offices, offices and all the assets of a person or company. The coverage can be against natural disasters, theft or robbery, fire and other situations. There is also the option of including accessories in the coverage.