External insurance is one of the important insurance categories, helping to protect you and your property from damage or incidents from external factors. Whether you are an individual or a business, participating in external insurance can bring peace of mind and solid financial protection against unwanted risks.
WHAT IS EXTERNAL INSURANCE?
External insurance is a type of insurance that helps protect individuals and organizations from losses or damages arising from external factors such as natural disasters, accidents, or events beyond your control. These factors can seriously affect the property, health, or business operations of individuals or businesses.
Unlike life insurance or health insurance, external insurance not only protects people but also covers assets, construction works, business activities or situations that occur in daily life. This insurance can include types such as accident insurance, natural disaster insurance, civil liability insurance, or insurance for assets such as houses, cars, or other important equipment.
BENEFITS OF EXTERNAL INSURANCE
Protect assets from external risks: One of the biggest benefits of external insurance is that it helps protect your assets from uncontrollable factors such as natural disasters, fires, theft, or other unexpected incidents. When you have external insurance, you will receive compensation for losses related to your assets, helping to minimize financial burdens and ensuring that you can recover quickly.
Minimize business risks: For businesses, external insurance plays a very important role in protecting assets and business operations from unexpected incidents. When participating in this insurance, businesses will receive protection against unforeseen events such as natural disasters, work accidents, or lawsuits related to civil liability. This helps businesses maintain stability and development without having to worry about huge costs from incidents beyond control.
Financial support when unexpected incidents occur: When an unexpected incident occurs, the cost of restoring or replacing assets can be a huge financial burden. External insurance will support you in this case, helping you minimize financial risks when faced with difficult situations. You will be compensated by the insurance company according to the signed contract, helping you stabilize your life or business activities.
Protect your health and safety: In addition to protecting your assets, external insurance also helps protect you and your family from health risks caused by accidents or unexpected incidents. If you are involved in a traffic accident, work accident, or other unforeseen situation, insurance will help pay for medical treatment, rehabilitation, and support for long-term treatment if necessary.
Protection from legal liability: Some types of external insurance, such as civil liability insurance, will help protect you from claims for damages arising from your actions. For example, if you accidentally cause a traffic accident or damage someone else’s property, civil liability insurance will help pay the legal compensation you have to pay. This helps you avoid large financial losses and legal problems that arise.
TYPES OF EXTERNAL INSURANCE
Accident insurance: Accident insurance is one of the important types of external insurance, which helps protect you against unexpected accidents in life, such as traffic accidents, work accidents or outdoor incidents. This insurance provides benefits to you in case of injury, loss of ability to work, or death due to an accident.
Civil liability insurance: This type of insurance helps protect you from financial obligations arising from acts that cause damage to others, including damage to property and health. If you accidentally damage someone else’s property, cause a traffic accident, or affect someone else, civil liability insurance will pay compensation as required by law.
Property insurance: This is a type of insurance that helps protect your assets, including houses, cars, machinery, equipment, etc. from incidents such as fire, theft, natural disasters, or other unexpected damages. Participating in property insurance helps you protect valuable assets in your life or work.
Natural disaster insurance: If you live in areas with high risks of natural disasters such as storms, floods, earthquakes, natural disaster insurance will be the right choice. This insurance helps you minimize financial losses caused by natural disasters, protect your assets and support you to restore normal conditions after the disaster.
Home insurance: Home insurance is a type of insurance that protects your home from incidents that may occur from outside, such as fire, natural disasters, or theft. When participating in home insurance, you will receive financial compensation to repair or replace damaged assets in the house.
Auto Insurance: Auto insurance is a form of property protection for vehicles. In addition to protecting property, auto insurance also protects the driver and passengers in the event of a traffic accident. Auto insurance packages usually include vehicle physical damage insurance, civil liability insurance, and accident insurance for the driver and passengers.
FACTORS TO CONSIDER WHEN CHOOSING EXTERNAL INSURANCE
Scope of protection: Before choosing external insurance, you need to carefully consider the scope of protection provided by the insurance contract. Make sure that the insurance package fully meets your needs, from property protection to support in emergency situations.
Insurance premium: Insurance premiums will vary depending on the value of the property, the type of insurance, and the benefits you request. You need to consider the cost and protection benefits to find the insurance package that best suits your financial capacity.
Insurance terms: Read the terms of the insurance contract carefully to understand your rights and obligations. This will help you avoid misunderstandings or disputes later when an incident occurs.
Choose a reputable insurance company: Choosing a reputable and financially strong insurance company is very important. This ensures that the company will fully perform its insurance obligations when you encounter risks, and you will receive quick and effective support.
CONCLUSION
External insurance plays an extremely important role in protecting you and your property from unforeseen incidents. Participating in external insurance will help you minimize financial risks, protect your health and property, and bring peace of mind to both individuals and businesses. Choose the right insurance package to protect your life comprehensively and firmly.
