General insurance means insurance contracts that do not align with the category of life insurance. Fire, marine, motor, accident, and other non-life insurance are the many types of general insurance.

The necessity to safeguard the economic worth of the assets is necessary since the tangible assets are vulnerable to deterioration. General insurance products are purchased for this reason because they offer protection against unforeseen occurrences like asset damage and loss. General insurance products cost money in the form of premiums, much as life insurance.