The most valuable physical asset that an individual may own is probably his home, and many will seek to protect this investment by purchasing a Home insurance. In addition, those who have a mortgage on their property may be required by their mortgage provider to show that they have an insurance that covers the buildings of their home.
Many homeowners put in place a home insurance plan to protect, for example, the loss of owner’s personal items, household contents and the loss of its use, against any compensation to be paid due to accidents that may occur at home and most importantly, the house itself.
Household policies are package policies so they are designed to meet the needs of the majority of the insuring public but not those of an individual insured.
- Health insurance
- Life insurance
- Property and Personal Liability insurance
- Car insurance