Had all of us been specially gifted to be able to predict our futures, we could plan life accordingly. If we had known when or where we will face an accident we could either be cautious or maybe avoid that road. But the fact is that we can not predict our future. All that we can do is make a guess and make certain deductions. One big way to plan for our lives is to invest in insurance policies. There are more than 150 different types of policies that you can choose from. Which policy you opt to take will depend on the requirement that you have.
The list below gives you a clear picture of the different kinds of policies and the coverage they provide, the premium type that you may need to pay and also whether there are floaters to support the main insurance plan. Take a look:
The list below gives you a clear picture of the different kinds of policies and the coverage they provide, the premium type that you may need to pay and also whether there are floaters to support the main insurance plan. Take a look:
| Insurance Policy / Coverage | Condition | Plan Type | Coverage Subject | Premium Type | Additional Information |
| Accident | Accidents both on and off-jobs | Individual | Entity | Moderate | - |
| Aircraft | Physical damage to aircraft. Property damage or bodily injury to people other than the named insured. Property damage and bodily injury to named insured. | Individual | Object | Moderate | - |
| Annual Travel | Multi trip and single trip | Individual | Entity | Moderate | - |
| Antiques | Theft of antique car or other antique possession that you have enlisted in the policy. | Both | Object | Expensive | - |
| Art | Expensive art. Art by a famous artist. Theft, Breakage or Mishap in transit. Residents of a high risk flood or earthquake zone. | Both | Object | Expensive | - |
| Auto | Accident, Medical conditions due to accident, getting hit by uninsured or underinsured motorists, collision, damage from storm, vandalism or a passive object like tree or a post. | Individual | Both | Moderate | - |
| Avian | Accidental injuries e.g. collision with fan or window, Feather picking, GI infections, respiratory problems, illness. | Individual | Both | Moderate | - |
| Backpackers | Accident, Illness, theft, trip cancellation | Individual | Object | Moderate | - |
| Bicycle | Theft, vandalism, hit by another vehicle, hit another vehicle or individual. | Individual | Object | Moderate | - |
| Birthday | If you want to save for your grandchildren | Individual | Entity | Moderate | - |
| Boat | Accident, any injury due to accident to your boat or to any other individual's boat or to the individual himself | Individual | Object | Expensive | - |
| Boiler | For heating cover | Individual | Object | Moderate | - |
| Breakdown | Car breakdown | Individual | Entity | Moderate | - |
| Builders | Damage to buildings while under construction. | Individual | Entity | Moderate | - |
| Buildings | Damage to the structure of the property (building). | Individual | Object | Moderate | - |
| Buisness | Damage to business property, interruption to business, property damage or bodily damage to others. | Group | Both | Expensive | - |
| Buisness Travel | Work related travel | Individual | Both | Moderate | - |
| Car Dealer | Theft, weather related damages | Individual | Entity | Moderate | - |
| Caravan | Accidental damage, flood, fire, liability, storms, theft, lost keys, destruction and glass damage. | Individual | Object | Moderate | - |
| Care Home | Long term care at home, nursing care, sheltered accommodation. | Individual | Object | Expensive | - |
| Casualty | Loss of property, damage to liability like vehicle, theft and casualty in elevator. | Individual | Both | Moderate | Floater - Yes |
| Cat | Any accidents, illness, hereditary conditions, flea control, hospitalization, surgeries. | Individual | Entity | Moderate | Floater - Yes |
| Catering | Stock (high risk stocks like wine, spirits and tobacco), building, fixtures and fittings, glass and sanitary fittings, interruption to business, products liability, public liability, deterioration of stock, personal accident, employers liability, book debts, money and personal assault, commercial legal expenditure. | Individual | Object | Expensive | - |
| Chauffeur | Vehicle replacement, breakdown, accident, glass breakage, public liability. | Individual | Entity | Moderate | Age - 25 |
| Chemist | Loss of stock, earnings. Accidental damage, destruction, public liability, legal costs, computer breakdown. | Individual | Entity | Moderate | - |
| Church | Damage to property, cost of replacement, liability towards others, personal injury, medical treatments, workers' compensation, church vehicle, fine arts. | Individual | Object | Moderate | - |
| Classic Car | Value of car, bodily injury, property damage, accident by uninsured motorist, collision, damage from fire, theft, wind, hail, flood, destruction etc. Medical treatment, personal injury. | Individual | Both | Expensive | - |
| Commercial | Loss to personal or real property, damage to machinery, builder's risk, interruption to business, burglary, robbery or money, securities, stocks and employee fixtures, theft, liability. | Individual | Both | Expensive | - |
| Computer Consultant | Profesional liability, Lawsuits due to failure of technology services. Lawsuits due to negligence and breach of warranty. | Individual | Entity | Expensive | - |
| Computer Contractors | Personal accident, sickness, business travel, indemnity, damage to property, legal expense. | Individual | Entity | Moderate | Floater - Yes |
| Computer | Accidental damage, damage due to water spillage, theft. | Individual | Object | Moderate | - |
| Concert & Gig | Lawsuits arising from liabilities like physical damage, third party property damage. Replacement cost of stolen of damaged equipment, sets, wardrobe, prop, cancellation of event, medical treatment costs, liquor liability, automobile liability. | Group | Both | Expensive | - |
| Condo | Burglary, damage from water, injury to another third party, loss of personal property and damage to the interior of your unit. | Individual | Both | Moderate | Floater - Yes |
| Conference | Bodily injury, property damage, coverage for rental equipment, business crime, liability coverage, event cancellation. | Individual | Both | Expensive | - |
| Construction | Accidents in construction site, personal injury, death. | Individual | Both | Expensive | - |
| Contents | Fire, Flood, Theft, any other peril. | Individual | Both | Expensive | - |
| Corporate-Owned Life insurance | To prevent loss of key executive, to finance benefit plans. | - | - | - | - |
| Credit | When an individual is unable to pay back loans, disability, involuntary unemployment during term of coverage, loss or damage of property. | Individual | Entity | Moderate | - |
| Critical Illness | Critical illness as covered by policy. | Individual | Entity | Expensive | - |
| Crop | Catastrophe, Hail, Fire, Lightning, Vandalism, transit, loss of stored grain, lost revenue caused by low prices or low yields or a combination of the two. | Individual | Object | Moderate | - |
| Cyber Space Liability | Threat to privacy, infringement of intellectual property, virus infection, trouble from any third party transferred via the web. | - | - | - | - |
| Dental | Tooth injuries, accidents, illness, cleaning, dental check ups, tooth and gum disease, tooth extractions, fixing chipped teeth. Orthodontics, denture work. | Individual | Entity | Moderate | - |
| Disability | Medical condition that makes you unable to earn for a specific period of time. | Individual | Entity | Moderate | - |
| Driver | Bodily injury, property damage liability. Comprehensive and collision coverage, medical treatment. | Individual | Both | Expensive | Floater - Yes |
| Dog | Accidents, illness, preventive care including surgeries, diagnostic testing, hospitalization, X-rays, lab fees, office visits and more. | Individual | Entity | Expensive | - |
| Earthquake | Damage to property or bodily damage due to earthquake. | Individual | Object | Moderate | - |
| Employment practice liability(EPLI) | Discrimination, breach of contract, negligent evaluation, sexual harassment, wrongful discipline, emotional distress, ,mismanagement of employee benefit plans. | - | - | - | - |
| Engineering | Sudden and unforsen damage that includes breakdown from an internal defect. Accidental damage for plant as well as equipment, injury to contract workers. | Individual | - | - | - |
| Event | Special events, annual events, exhibitions, wedding, Cancellation of events, Damage to event. | Individual | Object | Expensive | - |
| Exotic Animal | Theft, expensive vet fees, accident, sickness, disease, fire, lightning, storms etc. | - | - | - | - |
| Factory | Fire, theft, flood, accidental damage, product liability, employers liability, goods in transit etc. | - | - | - | - |
| Farm | Liability, physical damage, third party property damage, medical treatment for participants and spectators, damage due to bad weather, earthquake, flood, damage to rented equipment, props, sets and wardrobe. | Individual | Object | Moderate | - |
| Festival & Carnival | Damage to farm buildings, machinery, fencing, hay, livestock, property in transit and contents due to fire, storms, theft, burglary and any other event defined in policy. | - | - | - | - |
| Fair | Public liability claims made by visitors to the fair, damage to property used in the fair, claims made by employee, cancellation and abandonment of fair. | Both | Object | Expensive | - |
| Fish Stock | Accident, illness/disease, loss of use. | - | - | - | - |
| Footballer | Loss of income due to injury, illness or death. | - | - | - | - |
| Funeral | On account of the policy holder's death. | Individual | Entity | Moderate | - |
| Gadget | Theft, Loss, Accidental Damage. | Both | Object | Moderate | - |
| Garage | Bodily injury, property damage or destruction of goods. | Individual | Object | Expensive | - |
| General | Casualty and damage to property. | Individual/Group | Object | Moderate | - |
| Golf | For player: Death, loss of organs, medical expense. For others: Loss of life, lawsuits, medical expense. For policy holder's equipment: Damage, theft. | Individual/Group | Object | Moderate | - |
| Group | Individuals looking for health insurance. Treatment for mental health and availing prescription drugs. For policy holder's equipment: Damage, theft. | Group | Entity | Moderate | - |
| Health | Medical treatment, illness, accident, any medical condition. | Both | Entity | Moderate | - |
| Holiday Home | Accidental damage to property and building contents, Damage to outbuildings, garages and swimming pools, theft of content from outbuilding. Fire, flood, oil leaks, collision/impact damage, loss of rent, alternative accommodation, legal liabilities to third paties. | Individual | Object | Moderate | - |
| Home Owners | Damage from fire, theft, storm and lightning. Damage from flood and earthquake under special insurance policies. | Individual | Object | Moderate | - |
| Horse | Death due to any cause. Cost of major medical and surgical treatment. Loss of use. Accidental death. | - | - | Expensive | - |
| Hotel | Flood, earthquake, wind, business interruption, boiler and machinery, flood clean up expenses, crime, builder's risk, liability, liquor liability, compensation for workers, injury on-the-job. | - | - | - | - |
| Household | Burglary, fire, flooding, accidents, property damage, liability towards others. | - | Entity | - | - |
| Income Protection | Loss of income due to inability to work from an accident or a serious illness. | Individual | Entity | Moderate | - |
| Industrial Plant | Work related injuries, medical treatments, hospitalization and related services, loss of income due to injury. | Individual | Objects | Expensive | - |
| IT Workers | Liability to third party for causing financial loss. | Individual | Entity | Expensive | - |
| Jewelry | Theft, damage, disappearance, repair of jewelry, jewelry replacement cost. | Individual | Object | Expensive | Floater: Yes |
| Keyman | Untimely death or disability of a top and very important person in an organization - a salesperson, an executive or business owner. | Individual | Entity | Expensive | - |
| Kidnapping and Ransom | Kidnap, ransom demand and extortion. | Individual | - | - | - |
| Landlord | Material loss or damage of the building or its contents. | Individual | Object | Moderate | - |
| Legal Expenses | Personal injury, disputes from employment and damage to property ant legal claim made by policy holders. | Individual | Entity | Expensive | - |
| Lenders Mortgage | Outstanding on loan, loan default. | Individual | Entity | Moderate | - |
| Liability | Third party claim, damage to third party. | Individual | Both | Cheap | Floater - Yes |
| Life | Death, terminal illness, critical illness, need to replace income for dependants, create inheritance. | Individual | Entity | Cheap | Age: 0 - 75 years |
| Loan | Protect monthly loan payments in case of unemployment or disability, accident or sickness. | Individual | Object | Moderate | - |
| Long Term Care | Disability, chronic illness, adult day care, cost of visiting nurses, nursing home care. | Individual | Entity | Expensive | Age: 65 years |
| Magician's | Public liability, employer's liability, damage or loss of equipment. | - | - | - | - |
| Manufacturing | Public liability, damage of product, employers liability, interruption of business, loss of money, brakage of goods and glass in transit, personal assault. | - | - | - | - |
| Marine | Loss or damage to ships, terminals, cargo, property in transit. | Individual | Both | Expensive | - |
| Media | Employers liability, public liability, products liability, directors' and officers' liability, damage to equipment, accident, legal protection. | - | - | - | - |
| Medical Supplies | Theft, damage to medical equipment. | - | - | - | - |
| Mortgage | Death, disability or mortgagor, default of loan amount. | Individual | Entity | Moderate | - |
| Mortgage Life | Pay mortgage incase of the policyholder's death. | Individual | Entity | Moderate | - |
| Motorcycle | Damage to accessories, bodily injury liability, cost of medical treatment, personal injury protection, accident with uninsured/underinsured motorists, damage due to theft, destruction, flood, fire, and other listed perils, hitting or getting hit by another vehicle or object, damage to someone else's property arising from an accident. | Individual | Object | Moderate | - |
| Motor Fleet | Breakdown, recovery, detachment of trailer. | Object | Entity | Expensive | - |
| Motor Sport | Accidental damage, damage from fire, driver's accident, accident of co-drivers and team members. | Group | Both | Expensive | - |
| Motor Trader | Road risks, liability, damage to third party's property, loss of business, damage to business due to illness of employees, damage to vehicle in transit. | Individual | Entity | Moderate | - |
| Musician | Theft or damage of instrument, personal accident, illness, bodily injury to third party, car insurance for touring musicians. | Individual | Object | Moderate | - |
| Newsagents | Contents, fixtures, fittings and stock. Theft, employer's liability, public liability, product liability. | Both | Entity | Moderate | - |
| Nightclub | General liability, damage to property, building, contents, tenant improvements, loss of income, liability for liquor, assault, worler's compensation, injury out of accident. | Individual | Entity | Expensive | - |
| No Fault | Accident, injuries from accident, fixing damaged vehicle, medical treatment. | Individual | Person | Moderate | - |
| Office | Damage to equipment, fittings as well as fixtures, damage or loss of stock and goods in transit, business interruption, protect money that is kept on the premises or money that rests with an employee of the office. | Group | Both | Expensive | - |
| Oil Refinery | Damage or pollution to vehicle and contents of tank as well as cargo, accidental third party pollution, spill response, environmental response. | Both | Both | Expensive | - |
| Parametric | Natural catastrophe, series of losses due to a catastrophe. | Both | Both | Expensive | - |
| Patent Infringement | Piracy, liability/damages to the policyholder, need to defend patent rights, legal/litigation expenses borne by policyholder. | Individual | Entity | Expensive | - |
| Permanent Life | Those who want to accumulate policy cash value in order to fund an education, secure retirement, or any other goal for the future. For tax-favored treatment of cash value permanent policies. | Individual | Entity | Moderate | Age: 0 - 75 years |
| Pet | Illness, treatment cost, surgeries, prescriptions, treating diseases. | Individual | Entity | Moderate | - |
| Petrol Station | Loss of or damage to material, car wash equipment, public liability, goods in transit, filling pumps, buildings, shop contents, canopies money. Employer's liability and business interruption. | Individual | Objects | Expensive | - |
| Pharmaceutical Manufacturers | Managed Care | Individual | Entity | Moderate | - |
| Pharmacy | Prescription plans, Brand name drugs, generic drugs. | Individual | Entity | Moderate | - |
| Photographer | Damage to property, theft of equipment. In case of a crime and general liability to third party. | Individual | Object | Expensive | - |
| Political Risk | Political risk, political violence like civil unrest, war, terrorism. Governmental and asset confiscation. Debunking of contract, on demand guarantees, inability to convert foreign currency. | Individual | Entity | Expensive | - |
| Product Liability | Damage or injury arising from a product, faulty products. | Individual | Objects | Moderate | - |
| Professional Indemnity | Breach of duty, contravention on other's trademarks, copyrights and broadcasting rights, los of document belonging to clients, liability arising due to theft of client's money. | Individual | Entity | Moderate | - |
| Professional Liability | Own a business, financial losses from lawsuits filed by clients. | Individual | Entity | Moderate | - |
| Property | Damage from fire, theft, water, earthquakes, floods, nuclear incidents, war and acts of terrorism. | Individual | Both | Moderate | - |
| Pub & Public House | Employers and public liability, damage to business contents, loss of liquor license. | Individual | Both | Expensive | - |
| Reinsurance | Risk of loss of insurance companies, inability to settle claim made by customer. | Individual | Entity | Expensive | - |
| Renters | Damage to possessions inside the building as renter, Protection of furniture, electronic equipment from fire, theft, or wind damage from hurricane. | Individual | Objects | Moderate | - |
| Restaurant | Property insurance, damage to contents, business income, contamination of food, crime, employee dishonesty, worker's compensation, excess liability, general liability, valet liability (includes physical damage to auto). | Individual | Entity | Expensive | - |
| Return of Premium Life | Loss of life. Savings for a particular term if death does not occur. | Individual | Entity | Moderate | Age: 0 - 75 years |
| Revocable | To protect against any faulty beneficiary. | Individual | Entity | Moderate | - |
| RV | Protection for travel trailer and motor home, total loss replacement, emergency expense, unlimited towing, roadside assistance. Bodily injury, property damage, medical treatments, collision, uninsured/underinsured motorists. | Individual | Both | Expensive | Floater: Yes |
| Second Home | Damage to building, contents of building, property and third party liability. | Individual | Object | Expensive | - |
| Self | Protection against unknown risks. | Individual | Entity | Moderate | - |
| Service Garage | Cost of repairing or replacing vehicles when damaged or destroyed. | Individual | Object | Moderate | - |
| Shop | Liability towards employees for on-the-job injury, public liability, stock protection, contents, cash cover. | Individual | Both | Moderate | - |
| Show Car | Theft or any form of damage | Individual | Object | Expensive | - |
| Specialist Car | Accidents, theft of parts, liability, damage in car shows, damage during shipment to another state or country. | Individual | Both | Expensive | Floater: Yes |
| Specialist Home | Increased fire risk, high replacement costs, damage to contents in high value buildings, flood risks, unoccupied property. | Individual | Both | Expensive | Floater: Yes |
| Specialist Travel | Pre-existing medical conditions, elderly individuals. | Individual | Both | Expensive | Floater: Yes |
| Sports | Accident, injury, travel, liability for club and members, prize indemnity, damage to sport arenas. | Individual | Both | Moderate | - |
| Sports Car | Accidents, replacement cost, theft, fire, legal expenses, breakdown, road rage, glass breakage. | Individual | Both | Expensive | - |
| State Disability | Loss of wages due to disability not caused by your work. | Individual | Entity | Moderate | - |
| Student Travel | Medical treatment, trip interruption, emergency travel, health services. | Both | Both | Moderate | - |
| Students | Accidental damage to home content, possession in student accommodation, loss due to theft of money, loss of credit cards, travel. | Individual | Entity | Moderate | - |
| Taxi | Breakdown, damage, public hire, private hire, fleet cover. | Individual | Both | Moderate | Age: 25-65 years |
| Term Life | To cover short term goals like a loan, extra life insurance protection. | Individual | Entity | Moderate | Age: 0-75 years |
| Terrorism | Major terrorist attack | Individual | Both | Expensive | Floater: Yes |
| Title | Hidden title, protection for lenders and mortgagee as well as owners. Protects against loss from hazards and defects. | Individual | Object | Moderate | - |
| Tradesman | Employers liability, public liability, property damage, injury. | Individual | Both | Expensive | - |
| Travel | Trip cancellation and interruption, medical expenses, transportation, stolen or lost baggage. | Individual | Both | Moderate | - |
| Truck & Lorry | Accidents, fire damage, theft, vandalism, natural disasters. | Individual | Both | Expensive | - |
| Uninsured Motorist | Injuries caused to you and your passengers by an uninsured motorist. Property damage caused due to an auto accident by an uninsured/underinsured motorist. | Individual | Both | Moderate | - |
| Universal Life | In the event of death and to make tax deferred savings | Individual | Entity | Moderate | Age: 0-75 years |
| Van | Breakdown, legal expenses, accident, vandalism. | Individual | Object | Moderate | - |
| Variable Life | Premature death | Individual | Entity | Moderate | Age: 0-75 years |
| VIP Home | Loss or damage to property. | Individual | Both | Expensive | - |
| VIP Travel | Trip interruption, delay, lost baggage, medical assistance, trip cancellation. | Individual | Both | Expensive | - |
| Warehouse | Contractual liability, breakage, improper handling of goods, loss of goods, damage to goods, employer's liability, public liability. | Both | Object | Expensive | - |
| Weather | Damage from heavy rainfall, snow, temperature, wind, severe adverse weather | Individual | Entity | Expensive | - |
| Website | Cyber liability, crime risks, hacking, crisis management, loss of revenue | Individual | Object | Medium | - |
| Wedding | Cancellation, damage to wedding dress. Loss of deposit, wedding ring. Severe weather condition, transportation shutdown, damaged gifts, sudden illness, venue, any other additional expense | Individual | Object | Moderate | - |
| Whole Life | For people who need lifetime insurance, need tax-deferred cash value. | Individual | Entity | Moderate | - |
| Workers' Compensation | Lawsuits resulting from on-the-job accidents, loss of income, medical care for employees | Both | Entity | Moderate | - |
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