Any insurance, excepting LIFE, is termed General Insurance. Unlike Life Insurance, General Insurance offers protection against contingencies and is a practical option for every person who would like to live a risk-free life. Almost everything that has a financial value in life and has a probability of getting lost, stolen or damaged can be covered by a General Insurance policy.General insurance helps us protect ourselves and the things we value, such as our homes, our cars and our valuables, from the financial impact of risks, big and small – from fire, flood, storm and earthquake, to theft, car accidents, travel mishaps – and even from the costs of legal action against us. And we can choose the types of risks we wish to cover by choosing the right kind of policy with the features we need.