Non-life insurance, also known as general insurance, protects policyholders from various risks and losses. It is categorized based on need into property/casualty, health/disability, and business/commercial insurance. Some common types of non-life insurance include agricultural insurance for crop losses, aviation insurance for aircraft damage, car insurance for traffic accidents, fire insurance for property damage, health insurance for medical costs, home insurance for home damage, marine insurance for cargo shipment losses, motor insurance for vehicle accidents, shop/office insurance for business losses, and travel insurance for expenses while traveling abroad. Premiums paid for health insurance are eligible for tax deductions in India.

2. • Also known as General Insurance, is a form of
insurance mainly concerned with protecting
the policyholder from loss or damage caused
by specific risks.
• Categorized depending on the need level
– Property/ Casualty Insurance
– Health and Disability Insurance
– Business and Commercial Insurance
Non-Life Insurance

3. Types of Non-Life Insurance
• Agricultural
– Farmers use crop insurance to reduce or manage various risks associated with growing
crops (e.g. crop loss or damage caused by weather, hail, drought, frost damage, insects,
or disease).
• Aviation
– Insures against hull (main body of the plane), spares, deductibles, hull wear and liability
risks (e.g. Air Crash, Failure of the engines, Natural Calamity etc.).
• Car insurance
– Primarily to provide protection to car owners against losses incurred as a result of traffic
accidents and against liability that could be incurred in an accident.
• Engineering
– Insurance is on an 'all-risks' basis and in particular includes fire, lightning, explosion,
aircraft damage, Riot, strike, malicious acts, faults in erection, human errors, negligence.

4. • Fire
– Provides protection against damage to property caused by accidents due to fire,
lightening or explosion. Also includes damage caused due to other causes like flood,
burst pipes, earthquake etc.
• Health insurance
– Protect holders from costly medical bills in case of any emergency like – critical incidents
and hospital expenses.
– Critical Illness Insurance
• Home insurance
– Is a type of property insurance that covers private homes.
– A policy that includes losses occurring to home, its contents, loss of its
use, or loss of other personal possessions of the homeowner. Also
covers accidents that may happen at the home.
Types of Non-Life Insurance (Contd.)

5. any transport or property
• Marine
– Covers the loss or damage of ships, cargo, terminals, and
– By which cargo is transferred, acquired, or held between
the points of origin and final destination
• Motor
– For cars, trucks, and other vehicles. It is for protection against losses
incurred as a result of traffic accidents.
• Shop/office insurance
– Provides cover for damage to shop and it’s contents.
– Financial loss due to fraud and dishonesty of a specified employee.
– Loss of money at office premises or while transporting it due to
accidents, robbery, break – ins etc.
• Travel insurance
– It is purchased for Persons traveling or residing outside of their home
country. It covers baggage loss, medical expenses and personal liability.
Types of Non-Life Insurance (Contd.)

6. Tax Rebates in General Insurance
• The premium you pay towards
health insurance is tax deductible under
Section 80(D) of Income Tax Act, 1961.

7. • For more information, explore
– http://www.koffeefinancial.com/Static/Learn.aspx
• Or email us at learn@koffeefinancial.com
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