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Insurance is an important part of our personal finance. Having an insurance policy means you can handle any financial emergency up to the extent you have coverage of that policy.
Insurance coverage is available for several assets of yours. To name a few,there is auto insurance for your vehicle,health insurance for your health related expenses, professional indemnity insurance to cover expenses related to your profession or life insurance known as term insurance plans.
To buy an insurance policy, you pay a certain one time or recurring amount to the insuring company which is known as the Insurance Premium.
Before you buy an insurance, it is better you compare the premium rates to grab the best deal. Equally important is to have a more detailed analysis of the features the insurance policy offers. A significant difference in insurance premiums of two different insurance companies for the similar policy may mean compromising of some benefits by the low premium offering company.