The principle of insurance is based on the concept of risk, that is to say exposure to a potential danger, inherent in a situation or activity and whose financial consequences could not be faced, whether they are related to property or people.
From danger to accident
The danger is the prelude to the risk which is itself the prelude to the accident. Thus the danger having been identified, the risk becomes perfectly describable , it is likely to occur but we do not know if it will happen and when it will happen.
Insurance is a contract : in return for the payment of a contribution, also called a premium, the insurer guarantees specific services to an individual, an association or a company in the event of a risk clearly identified in the contract.
The concept of risk is a key concept in insurance, it is a random event feared by an insured for its financial consequences. The hazard is based on three criteria:
the future : you cannot insure a car accident that has already occurred;
the uncertain : we cannot insure a certain risk which will materialize on a known date;
involuntary : damage cannot be insured that the insured causes or is caused voluntarily.
Different types of insurance
Damage insurance
Damage insurance includes both liability insurance (family liability, driver liability, professional liability, etc.) and property insurance (insurance of movable and immovable property, damage to the vehicle, etc.).
The traditional vocation of insurance is to allow the replacement of destroyed or stolen goods . In addition, today liability insurance in the field of domestic life, professional activity, traffic and leisure has developed considerably. In this case, we insure ourselves against damage and possible harm caused unintentionally to third parties.
The purpose of property and liability insurance is to protect the assets of the insured. They are, for some grouped in "multi-risk" contracts (multi-risk residential, multi-risk business ...).
The most common property insurance is fire insurance, theft insurance, water damage or glass breakage, but other types of events are automatically integrated (natural disasters, attacks, etc.) or offered as an option.
Personal insurance
Personal insurance covers the risks inherent in human life and offers a complete set of solutions adapted to each situation. Some contracts provide benefits in the event of physical harm: death, invalidity (insurance in the event of death), others allow savings to be set up and paid out in the form of an annuity or capital if the insured person is alive at the end of the contract (life insurance).
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