Financial loss we could also say that insurance is a type of risk management insurance is generally provided by an insurance company or an insurance broker and we could call either of these types of entities an insurer one of the first types of insurance many people get is car insurance this can also be called motor insurance in american english it can be referred To sometimes as vehicle insurance another common type of insurance is medical insurance there are a few synonyms for medical insurance like health insurance it can simply be called health care or a health plan another popular type of medical insurance is dental insurance sometimes this will be covered under a healthcare plan okay let's move on to a different types .
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Of insurance home insurance this may also be called property insurance home or property insurance generally covers costs relating to fire theft and costs incurred by weather damage there are also many subtypes of property insurance such as boiler insurance earthquake insurance flood insurance there is also landlord insurance and renters insurance and we have windstorm insurance which covers damage from hurricanes and tornadoes another way to protect your home if you have a mortgage is mortgage protection this type of insurance is designed to pay off your mortgage if you were to pass away and some mortgage protection policies .
Will cover mortgage payments if you become disabled or sick if this is the first time you're visiting my channel learning english pro you're very welcome my name is jer and i'm narrating your lesson today make sure to subscribe to stay updated on all my latest english lessons getting back to our lesson a very important insurance for a lot of people is pet insurance this type of insurance policy .
Purchased by pet owners to offset the overall cost of their animals medical bills let's move on to a different type of insurance income protection income protection insurance pays part of your lost income if you're unable to work because of disability caused by an illness or injury a subtype of income protection is disability insurance or long-term disability insurance .
Our next type of insurance is liability insurance this term refers to an insurance product that provides an insured party with protection against claims resulting from injuries and damage to other people or property a common type of liability insurance is public liability this covers the cost of claims made by members of the public for incidents that occur in connection with business activities .
Professional liability insurance is insurance that protects professionals such as accountants lawyers and physicians against negligence and other claims initiated by their clients up next we have life insurance this type of insurance generally provides an income to an insured person's family upon their debt funds can be used for burial funeral and other final expenses and that brings us to the end of this .
English lesson on types of insurance don't forget about the word list in the description below and i hope you enjoyed this lesson let me know how you got on in the comments below i'd love to hear from you and if you're looking for more english vocabulary there's really no better place on youtube than my channel learning english pro so head over there right now and start exploring over 160 english lessons .
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