Types of Liability Insurance Policies:
This type of policy provides extended coverage over and above the standard policy. An umbrella policy however, only kicks in once the standard coverage amount is exceeded. In order to add an umbrella policy, the insured party’s standard policy must cover a minimum level of liability coverage as specified by the insurance company.
Professionals such as accountants, lawyers and doctors are usually susceptible to claims made by their clients citing negligence or malpractice etc. These professionals have expertise in a specific domain and general insurance policies do not offer protection against claims arising out of business or professional practices. Professional Liability Insurance protects such professionals.
Companies into manufacturing, wholesaling, distributing, and retailing a product may be held liable for the product’s safety. This insurance protects against any financial loss resulting out of a defective product that can cause injury or bodily harm.
While carrying out your business activities it is possible that you may cause injury to the member of public, damage to public or personal property or even environmental pollution. This policy offers an insurance cover against such damages to the extent of a pre-determined limit.
Advantage of Anar Insurance
Anar Insurance encourages savings in the form of investments.Premium given for life insurance acts as savings for future.It helps in collecting and securing funds for security and safety for future needs.
Financial security is utmost important for survival in today’s world.Safeguarding family’s finances thru different kinds of insurance can be beneficial and act like a security for future.
The pooling of risk can be done from one or more sources. Hence spreading/dividing the burden from a single source.The risk could be single or multiple types.
Promotes business activities
Insurance activity builds and shapes different kind of opportunities as multiple service providing companies are linked once the insurance is matured.
Provides employment opportunities
Insurance is a progressive industry and with introduction and development of new policies in helps in creating new job opportunities which requires special skill sets.
Maintains economic stability
It converts accumulated capital to productive investments.It also helps in financial stability and promotes trade and commerce for economic development and growth.
Assures financial compensation
A financial compensation is provided in many types of insurance. If we take an example of Life Insurance, we realize that once the term has ended or due to the demise of the insured, the compensation is given to the family.
Why Anar Insurance ?
Anar Insurance works towards simplifying and speeding up the process of buying insurance and financial services from varied available options by combining complete, impartial online information with the offline help of experienced insurance professionals.
- Providing security.
- Spreading Risk.
- Encourage savings.
- Source of Collecting funds.
- Provides employment opportunities.
- Maintains economic stability.
- Promotes business activities.
- Assures financial compensation.
- Reduces financial losses.