What is the point of having insurance?

Why would I like insurance?

The principle of insurance is predicated on the idea of risk, that is, exposure to a possible risk that's inherent in a very state of affairs or activity and whose monetary consequences, whether or not associated with property or folks, can not be faced. 

From danger to accident

Hazard may be a precursor to risk and is itself a precursor to the accident. therefore once the danger has been known, the danger becomes absolutely expressible and it's probably to occur however we have a tendency to don't grasp if and once it'll be achieved. 

Insurance may be a contract: in exchange for the payment of a contribution, conjointly referred to as associate premium, the insurance underwriter guarantees specific services to a person, association or company within the event that risk clearly per the contract is complete. 

The idea of risk may be a key idea in insurance, a random event that the insured fears owing to its monetary consequences. the danger is predicated on 3 criteria:

Future: you can't insure an automobile accident that has already occurred;

Uncertainty: we have a tendency to cannot ensure a specific risk that will take place on a famous date;

Involuntary: it's impracticable to insure the injury that the insured causes or causes to himself voluntarily.

Different types of insurance

Damage insurance

Damage insurance includes each insurance (family civil liability, driver civil liability, skilled liability, etc.), as well as property insurance (movable and immobile property insurance, vehicle injury, etc.).

The typical objective of insurance is to cover the cost of replacing lost or stolen property. In addition, in recent years, insurance in the areas of home life, professional activity, motorized vehicle traffic, and entertainment has increased dramatically. during this case, we have a tendency to insure ourselves against any damage or prejudice accidentally caused to 3rd parties.

Property and insurance aim to guard the assets of the insured. Several of them have been combined into "multi-risk" contracts (multi-risk home, multi-risk business, etc.).

The most common insurances on property area unit hearth, theft, water injury or glass breakage however different forms of events area unit mechanically incorporated (natural disasters, attacks... ) or as an optional add-on.

personal insurance

Personal insurance covers the risks inherent in human life and offers a full variety of solutions that adapt to each state of affairs. Some contracts give advantages just {in case} of bodily harm: death and incapacity (insurance in case of death), others permit the formation associated payment of savings within the sort of a regular payment or capital if the insured is alive at the tip of the contract (life insurance). 

a little little bit of history

The emergence of insurance may be a recent development. In France, it dates back solely to the tip of the recent regime, with the start of the final Company of Guarantees and Gross Enterprises in 1686, though from the fourteenth e Italian merchants have found how to guard their ships from losses incurred throughout shipwreck or as a result of the unhealthy actions of pirates.  They created associations so as to create funds probably to compensate them (Amalfi law).

The development of insurance is joined to economic associated social transformations: the transition from an agricultural economy to a distributed economy increased the causes of injury (industry and commerce), and also the concentration of population in cities with the emergence of latest homes and new lifestyles light-emitting diode to the emergence of latest pests. 

Enregistrer un commentaire

Plus récente Plus ancienne