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Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer.This are the type of insurance coverage
- Insurance coverage refers to the amount of risk or liability that is covered for an individual or entity by way of insurance services.
- The most common types of insurance coverage include auto insurance, life insurance and homeowners insurance.
- Insurance coverage helps consumers recover financially from unexpected events, such as car accidents or the loss of an income-producing adult supporting a family.
- In exchange for insurance coverage, the insured person is responsible for paying premiums to the insurance company.