In Australia there are many general insurance products. There are broadly known as non-life insurance policies. Insurance products always vary from between the insurers. The consumer should always be clear on his Product Disclosure Statement (PDS) before he decides to purchase Youi insurance. The chosen insurance should cover his level of risk.
Types of Youi insurance products:
Car insurance: This is definitely a crowded market. Consumer may get confused while choosing this. It is better to go for an insurer who is specialist in this. They should understand the needs of the consumer and offer a premium which comes under his budget and suits his needs. There are three types of car insurance. They are comprehensive insurance, third party fire and theft insurance, and third party property only insurance.
Home insurance: Home is the most valuable asset for an individual. The product called building and content insurance can protect this asset from considerable damages. Whether it is a flat or house insurance is covered for both. There are four types of home insurance. They are building and content insurance, building insurance, content insurance, and landlord insurance.
Each motorcycle is different and so is the rider. They ride it in different ways. Their needs from a insurance policy is also different. There are insurance which cover complete damage to the policy holder’s motorcycle. There are packages which even cover damages caused by the owner of the motorcycle to someone else’s property. There are three types of products available comprehensive insurance, Third party fire and theft insurance, Third party property only insurance.
This type of insurance offers various benefits to the consumer. There will be easy replacement for old watercrafts. Similar to car insurance, rewards are given by the insurer for experienced mariners. After getting proper information from the mariner the premium is decided. Here there are three types of products available. Comprehensive insurance which covers damages caused by natural disasters, theft and fire and damages caused to someone else’s property. Third party fire and theft covers the damages caused due to earthquake, fire and theft and damages to someone else’s property. Third party property only covers damages caused to someone else’s property. This type doesn’t concern the damages to policy holder’s property.
Caravan and trailer insurance:
Whether the person is at home or away from home or he is in his trusty trailer, there are insurances to cover his damages. In this type of insurance, the insurer may ask few more questions before deciding. There are also three types of products. They include comprehensive insurance, third party fire and theft insurance, third part property only insurance.
Business liability insurance:
In this case the consumer is asked several questions by the insurer to understand the type of business they do. By this they understand the needs of the consumer. They even make additional options just suit the consumers business type. The price of the product may vary from business to business. Premiums and offers are decided which will suit the consumers business and his budget.