General Insurance is including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is the insurance of assets, financial assets included. If, due to a contingency which is covered under the plan, there is an economic loss, the loss is compensated by general insurance policies. It helps us protect ourselves and the things we value, such as our homes, cars and our valuables from the financial impact of risks from fire, flood, storm, earthquake, theft, accidents and travel mishaps.
There are a lot of general insurance plans available in the market. Health insurance, Motor insurance, Travel insurance, Home insurance

General insurance plans are beneficial because of the following reasons –

• The plans cover financial losses and compensate you for the losses that you suffer. As such, general insurance plans provide you financial security even in the case of contingencies
• In some cases, general insurance plans are mandatory by law. For instance, motor insurance plans are mandatory as per the Motor Vehicles Act, 1988. Similarly, if you are travelling to Schengen countries, you mandatorily need a valid overseas health insurance plan. When you buy such mandated plans, you fulfil the legal obligation and save yourself from violation offence
• General insurance plans help in protecting your savings in emergency situations. You can, therefore, use your savings to fulfil your financial goals