The actual process of reporting and collecting on a claim is usually spelled-out in the insurance contract. Thus exact procedures vary according to insurance contracts and their companies. Real property is land and buildings. Personal property is movable goods. Health Insurance Health insurance is a contract between a policyholder and an insurance company to provide, or pay, for health care services.
Health care is provided through a variety of institutions and programs.
These programs range from individual health insurance policies to government-established programs such as Medicaid. Automobile Insurance Automobile insurance is a contract between a policyholder and an insurance company to cover losses arising out of the use and operation of the automobile. Many states require drivers to have automobile insurance. Even if not required, automobile insurance is necessary since the cost of some losses is likely to exceed the net worth of individuals. There are many different types of policies, and policyholders may elect among a number of options when buying automobile insurance.