Most individuals work hard to provide for themselves and their families.
Unfortunately, many overlook an essential aspect of protecting the
future — insurance. This protection is called risk management. Risk management
is protecting your assets, your earning potential and your family from the
possibility of suffering loss.
What Is Insurance?
An insurance policy is a legal contract between you and an insurance
company to provide financial protection against losses described in
the policy — up to a certain amount of money.
Insurance can cover losses from events such as vehicle accidents,
fire, illness, theft or death. You pay a premium to the insurer, and
in return, the insurer agrees to reimburse you for all or a portion of
the costs of your losses. The insurer agrees to indemnify (compensate)
you for covered loss to your auto, property, life, health or whatever a
policy might cover; you are liable for any applicable deductions, co-payments
or any damages in excess of the policy limits.
Note: This article provides general insurance descriptions. Contact an insurance company for precise information on coverages, limitations and conditions.
The forms in the “Helpful Forms & Lists” box at the top of this page provide additional information.
Topics covered in this section are:
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Auto
Insurance
Auto
Insurance