Types of insurance

Types of insurance

Insurance is the special sphere of relations in area of forming and use of having a special purpose funds of monetary resources for defence of property interests of physical and legal persons and compensation to them material damage at the offensive of the unfavorable phenomena and events.

• Accident Insurance
• Auto Insurance
• Boat Insurance
• Building Insurance
• Business Insurance
• Car Insurance
• Commercial Insurance
• Dental Insurance
• Disability insurance
• Employment Insurance
• Fire Insurance
• Flood Insurance
• Health Insurance
• Home Insurance
• House Insurance
• Liability Insurance
• Life Insurance
• Malpractice Insurance
• Medical Insurance
• Mortgage Insurance
• Motorcyle Insurance
• Pet Insurance
• Personal insurance
• Property Insurance
• Rental Insurance
• Travel Insurance
• Unemployment Insurance
• Vision Insurance

In the conditions of market, along with traditional possibilities of insurance on protecting from the emergency phenomena of natural character(earthquakes, floods and ....) and technical risks(fires, accidents and ....) sharply the requirement of businessmen increases in insurance coverage of damage at neglect of financial and credit duties, insolvency of contractors of and other of factors conducing to the loss of income. A large value has insurance defence of life, health and .... Co-operation of the parties interested in the conclusion of insurance relations takes place at the insurance market. The object of "purchase-sale" at this market is insurance service.


Property insurance protects  the interests of insure, related to possession, use, disposing of property.

Traditional types of insurance of this type :

·agricultural insurance(cultures and animals);

·property of citizens insurance;

·property of enterprises of different patterns of ownership insurance.


Personal insurance - is the form of social defence and strengthening of material welfare of population. His objects are life, health, ability to work of citizens. The prevailing stake of operations on this type of insurance is conducted on voluntarily basis.

The mixed life-insurance is most widespread with the wide volume of responsibility(by the loss of health from an accident and ....). insurance of children.


The special place occupies the medical insurance of citizens, conducted in an obligatory form, is industry of social security. But there is voluntarily medical insurance is this personal insurance, his organization and realization insurance medical companies engage in.

Insurance of responsibility - in a difference from property and personal protects interests of both insure, a damage for him is compensated by insurance organization and other(third) the persons, that payments are avouched for the damage caused in a result from an action or inaction of insure, regardless of his property position, insurance of responsibility provides defence of economic interests of possible culprits of harm and persons that a damage is causal in concrete insurance case. Including:


·Insurance of responsibility of borrower for credit not redemption. Consists between an insurance company(by an insurer) and enterprises-borrowers(insure). An object of insurance is responsibility of borrower before a bank, giving out a credit.

·Public liability of proprietors of transport vehicles insurance is conducted in the order set by a law. An object of insurance is civil responsibility of proprietors of vehicles before a law, before a suffering(third) person.


Currently, especially in a foreign insurance practice is widely used economic risks. As part of this type of insurance coverage is isolated from:

· Commercial risks;

· Legal risks;

· Political risks;

· Technical risks;

· Risks in the financial and credit sphere.

Technical risks to be insured include:

· Building and construction;

· Operational;

· The risks of new technology.

Financial and credit risks to be insured:

· Export credit insurance (in the event of bankruptcy or insolvency of its long);

· Insurance of bank credit risk of default of the borrower (the insured a bank);

· Insurance bills;

· Insurance liens against inflation, currency risk, etc.