Top Most types of insurance
The income of insurers from the sale of different types of insurance amounts to 33,687 million euros, as of June 2019, according to a report published by the Spanish Union of Insurance and Reinsurance Entities (UNESPA). Among the most contracted insurances is health, home or car, but not the only ones that we can find.
Let us remember that insurance is a contract that helps us reduce economic uncertainty about the future, since it allows us to obtain compensation, in exchange for a premium, in the event of an accident. However, before signing the contract, it is convenient to know which is the one that suits us in each case.
For this reason, from Vital Seguro, experts in health insurance , we explain throughout this article what types of insurance we can find, which are the most contracted by the Spanish, and which policies are essential today.
How many types of insurance are there?
There are as many types of insurance as contingencies or risks, since today, we can even insure our feet if necessary. However, UNESPA groups the types of insurance into:
- Depending on what we want to insure
- Depending on who you want to insure
- In the first group we would find:
Personal , which are those that cover the risk that any person could suffer, such as health insurance, accident insurance, or life insurance, among others.
Materials , are the types of insurance that protect the material things that we have, such as the car, the home, community insurance, etc…
Services , this type of insurance covers the needs of an insured, through a service, such as legal defense or travel insurance.
While in the second group we would find personal or business insurance.
What types of insurance do Spaniards take out more?
UNESPA published a report and in that report it indicates that the three insurances most contracted by Spaniards have been health insurance, home insurance and car insurance:
More than 11 million Spaniards have private health insurance, due to the many benefits it offers. Among them, the possibility of avoiding long waiting lists when making a consultation with a specialist, or the possibility of accessing diagnostic tests in less time stands out.
The study ensures that this type of insurance is one of the most contracted by the Spanish, since housing is one of our largest investments.
Home insurance covers the continent, content and civil liability. Which means that the constructive and structural elements and real estate are insured. In addition, it also covers against third party claims for damages.
In this case, we would be talking about compulsory insurance, when you have a vehicle, even if it is the most basic policy. This must deal with civil liability, that is, it requires compensation for damages caused to third parties in the event of an accident.
What are the main types of insurance?
In addition to the types of insurance mentioned above, we find others that, although not mandatory, are a good option to consider, such as:
Conventional life insurance is usually contracted so that the beneficiaries or beneficiary of the policy receive a capital, in the event of the death of the insured. However, there are other types of coverage that can offer a subsidy in case of disability or income for children, among others.
Funeral insurance covers the expenses that may occur in a burial. Depending on the coverage, relatives or friends will not have to make any economic contribution in the event of death.
If you need more information about the types of insurance that we can find, do not hesitate to contact us without obligation.
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