What is the main difference between insurance and assurance?
What is the main difference between insurance and assurance?
The Difference Between Insurance vs Assurance Comparison Factors Insurance Assurance Claim payment Equal to the amount of loss or damage during an accident Pre-defined for a particular event Number of Claims Multiple One Duration Short term Long-term 3 more rows • Oct 9, 2021
What is the premium amount?
The amount you pay for your health insurance every month. In addition to your premium, you usually have to pay other costs for your health care, including a deductible, copayments, and coinsurance.
Is fire insurance a general insurance?
Ans: Your building may get damaged due to fire or other perils and the losses will not be covered by a general insurance policy. For that, you’ll need a fire insurance that will cover the damages sustained by the building.
