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Insurance allows someone who suffers a loss or accident to be compensated for the effects of their misfortune. It protects yourself against everyday risks to your health, home and financial situation.
 
An insurance broker is an intermediary between a customer and an insurance company. Insurance broker search the market for the appropriate coverage for their clients, typically working on commission.

There are various types of insurance.
Mortgage insurance covers the life of a person taking out a mortgage. Death benefits provide for payment of the outstanding balance of the mortgage. The amount of coverage decreases as the debt decreases.
 
Term insurance covers the insured person for the time period that is specified in the policy, paying a benefit to a designated beneficiary only if the insured person dies within that specific time period. The “term” can be one, five, 10 or even 20 years. Term life insurance premium increase with age
 
Private medical insurance covers the cost of private medical treatment for curable short term illness or injury.
 
Public liability insurance protects you and your business against the financial risk of being found liable to a third party for death or injury, loss or damage of property of ‘pure economic’ loss resulting from your negligence.
 
If you sell, supply or deliver goods even in the form of repair or service you may need cover against claims of goods causing injury or damage. Product liability insurance covers damage or injury caused to another business person by the failure of your product or the product you are selling.
 
Homeowner insures is to protect you against damage to your home and property from natural disasters. Insurance companies offer different ratings of insurance and assign these ratings are fairly standard. When comparing policies consider differences among deductible, coverage of property other than the house and percent of loss covered. Consider also whether the policy covers resale cost or rebuilding cost. Rebuilding usually provides better coverage, but is more expensive.
 
Basic homeowner’s insurance does not cover the contents though you can often add it for an additional fee or buy it separately. When buying content’s insurance consider whether it covers replacement value or fair market value.
 

Insurance can provide compensation for the actual value of property. Insurance takes the risk away from people’s live and business. It brings peace of mine to the policyholder

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