Basics of Insurance

Insurance vocabulary and the main policy types

This introductory course covers what insurance does: transferring risk, what a policy covers and what a claim means. It walks through the objectives of insurance, key terminology, types of risk and risk management, then surveys health, property, home, auto and marine policies.

Who it suits

Learners who are new to insurance and want to read policy conversations with more confidence will find it useful. It also works as preparation for deeper study in personal finance, underwriting, claims management or risk analysis.

Key takeaways

• Why protection choices depend on risk, coverage and exclusions.
• How claims are understood and what they mean for a policyholder.
• How health, home, auto and marine cover differ in practice.

It is a primer that lays the groundwork before more technical insurance training.