{"id":11419,"date":"2026-05-13T11:04:13","date_gmt":"2026-05-13T11:04:13","guid":{"rendered":"https:\/\/riskbirbal.com\/blogs\/?p=11419"},"modified":"2026-05-13T11:13:59","modified_gmt":"2026-05-13T11:13:59","slug":"benefits-of-general-insurance","status":"publish","type":"post","link":"https:\/\/riskbirbal.com\/blogs\/benefits-of-general-insurance\/","title":{"rendered":"Top 7 Benefits Of Buying General Insurance: Types and How to Choose"},"content":{"rendered":"\t\t
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Many people lose large sums of money every year because they have no financial protection against accidents, illnesses, or property damage. This article explains the\u00a0Top 7 Benefits Of Buying General Insurance<\/strong>\u00a0in simple words. You\u2019ll also learn the\u00a0Top Benefits of General Insurance<\/strong><\/a>\u00a0and how\u00a0General Insurance<\/strong>\u00a0works for ordinary people. Having Understanding\u00a0insurance coverage<\/strong>\u00a0before an emergency happens is a smart move. Let us start with the basics and then move to the seven benefits, the main types, and a simple method to choose the right\u00a0insurance policy<\/strong>.<\/span><\/p>

What Is General Insurance? A Simple Explanation<\/strong><\/span><\/p>

General Insurance<\/strong>\u00a0refers to any\u00a0insurance policy<\/strong>\u00a0that doesn\u2019t cover death or survival. Instead, it covers your assets, health, travel risks, and legal liabilities. Common examples include health plans, car or bike insurance, home insurance, and travel insurance. Unlike life insurance,\u00a0general insurance<\/strong>\u00a0is usually bought for one year and renewed every year. The\u00a0insurance benefits<\/strong>\u00a0you receive depend on the actual loss you suffer. This creates\u00a0general insurance<\/strong>\u00a0an Important tool for protecting your savings from unexpected events such as fire, theft, accidents, or sudden hospitalization.<\/span><\/p>

Top 7 Benefits Of Buying General Insurance<\/strong><\/span><\/p>

Let us look at the seven most valuable\u00a0insurance benefits<\/strong>\u00a0you get when you buy a\u00a0general insurance<\/strong>\u00a0plan.<\/span><\/p>

  1. Protection Against Medical Emergencies<\/strong><\/span><\/li><\/ol>

    A sudden heart attack or a major accident can lead to hospital bills of hundreds of thousands of rupees. Health insurance, which is a major part of\u00a0general insurance<\/strong>, pays for room rent, doctor charges, surgery costs, and medicines. Without this\u00a0insurance coverage<\/strong>, many families fall into heavy debt. With a good health\u00a0insurance policy<\/strong><\/a>, you get cashless treatment at network hospitals. This is one of the\u00a0top benefits of general insurance<\/strong>\u00a0because it saves both your health and your wealth at the same time.<\/span><\/p>

    1. Safety for Your Car and Bike<\/strong><\/span><\/li><\/ol>

      Motor vehicle accidents happen every day. Repairing a damaged car can cost as much as buying a second-hand vehicle.\u00a0General insurance<\/strong>\u00a0for your car or bike pays for repairs after an accident, theft, fire, or natural disaster. Third-party motor\u00a0insurance coverage<\/strong>\u00a0is legally required in most places. It pays for damage you cause to another person\u2019s vehicle or property. Comprehensive motor policies also cover your own vehicle damages. Without this\u00a0insurance policy<\/strong>, one small mistake on the road could empty your bank account.<\/span><\/p>

      1. Home and Content Protection<\/strong><\/span><\/li><\/ol>

        Your home is likely your most expensive asset. A flood, earthquake, fire, or burglary can destroy it completely. Home\u00a0insurance coverage<\/strong>\u00a0pays to rebuild your home structure. It also covers your furniture, electronics, and other valuables inside. Many people do not realize that their home loan doesn\u2019t protect against disasters. Only a proper\u00a0general insurance<\/strong>\u00a0plan gives that protection. The\u00a0insurance benefits<\/strong>\u00a0here include temporary accommodation costs if your home becomes uninhabitable.<\/span><\/p>

        1. Liability Coverage for Legal Costs<\/strong><\/span><\/li><\/ol>

          Consider this situation: you are driving and accidentally hit a pedestrian. You could be sued for medical bills and compensation. Without liability cover in your motor\u00a0insurance policy<\/strong>, you would have to pay these costs from your pocket. Liability coverage is also available in home and commercial\u00a0general insurance<\/strong>\u00a0plans. It pays for legal defense charges and court awards up to your policy limit. This\u00a0insurance benefit<\/strong>\u00a0often goes unnoticed but can save you from financial ruin.<\/span><\/p>

          1. Financial Support During Travel<\/strong><\/span><\/li><\/ol>

            International travel involves many risks: flight cancellations, lost luggage, emergency dental treatment, or even a medical evacuation from a foreign country. Travel\u00a0general insurance<\/strong>\u00a0covers all these events. If you fall sick in a different country and need hospitalization, your travel\u00a0insurance policy<\/strong>\u00a0pays the foreign hospital directly. Without it, you might have to arrange huge sums in an unfamiliar place. This is a low-cost\u00a0insurance coverage<\/strong>\u00a0that gives high\u00a0insurance benefits<\/strong>\u00a0for frequent travelers.<\/span><\/p>

            1. Tax Savings on Premiums<\/strong><\/span><\/li><\/ol>

              In many tax systems, premiums paid for\u00a0general insurance<\/strong>\u00a0policies such as health insurance qualify for deductions. For example, under section 80D of the Income Tax Act, you can reduce your taxable income by the amount of premium paid for yourself and your family. Senior citizens get even higher deductions. This means\u00a0general insurance<\/strong>\u00a0not only protects you but also lowers your annual tax bill. That is a direct financial benefit on top of the protection.<\/span><\/p>

              1. Business Continuity for Small Owners<\/strong><\/span><\/li><\/ol>

                Small business owners face many risks: a shop fire, theft of inventory, or a customer slipping and suing. Commercial\u00a0general insurance<\/strong>\u00a0policies cover these events. Business interruption\u00a0insurance coverage<\/strong>\u00a0pays your lost profits and fixed expenses while your shop or office is being repaired after a covered disaster. Without this\u00a0insurance policy<\/strong>, a single fire could close a small business forever. For self-employed people and shopkeepers, this is one of the\u00a0top benefits of general insurance<\/strong>.<\/span><\/p>

                Main Types of General Insurance<\/strong><\/span><\/p>

                To choose the right plan, you need to know the different\u00a0types of general insurance<\/strong>\u00a0available in the market.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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                \n\t\t\t\t\t\t\t\t\t\t\t\t\t\tType of General Insurance<\/span><\/th>\n\t\t\t \t\t\t\t \n\t\t\t\t\t\t\t\t\t\t\t\t\t\tWhat It Covers<\/span><\/th>\n\t\t\t \t\t\t\t <\/tr>\n\t\t\t <\/thead>\n\t\t\t \t
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                Health Insurance<\/span><\/p>\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t

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                Hospitalization, pre and post hospitalization, daycare procedures, ambulance, critical illness<\/span><\/p>\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/tr>\n\t\t\t \t\t\t\t\t\t

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                Motor Insurance<\/span><\/p>\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t

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                Own damage repairs, third-party liability, theft of vehicle, personal accident cover for driver<\/span><\/p>\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/tr>\n\t\t\t \t\t\t\t\t\t

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                Home Insurance<\/span><\/p>\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t

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                Building structure (fire, flood, earthquake, storm), contents (furniture, appliances, jewelry)<\/span><\/p>\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/tr>\n\t\t\t \t\t\t\t\t\t

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                Travel Insurance<\/span><\/p>\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t

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                Trip cancellation, missed flight, lost checked baggage, emergency medical treatment abroad<\/span><\/p>\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/tr>\n\t\t\t \t\t\t\t\t\t

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                Commercial Insurance<\/span><\/p>\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t \t\t\t\t\t\t\t\t\t\t\t

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                Property damage to business, liability for employee injury, business interruption, product liability<\/span><\/p>\t\t\t\t\t\t\t\t\t\t\t\t<\/div><\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/tr>\n\t\t\t \t\t\t <\/tbody>\n\t\t\t<\/table>\n\t\t<\/div>\n\t \t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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                Each\u00a0types of general insurance<\/strong>\u00a0has different sub-plans. For example, health insurance includes individual plans, family floater plans, and senior citizen plans. Motor insurance includes third-party only and comprehensive plans. A\u00a0policy comparison<\/strong>\u00a0between these sub-types is necessary before buying.<\/span><\/p>

                How to Choose the Right General Insurance Policy<\/strong><\/span><\/p>

                Now that you know the\u00a0top 7 benefits of buying general insurance<\/strong>\u00a0and the main types, here is a simple step-by-step method to select the best\u00a0insurance policy<\/strong>\u00a0for your needs.<\/span><\/p>

                Step 1: Identify What You Need to Protect<\/strong><\/span><\/p>

                Create a list of your valuable assets: your health, your car, your home, your travel, or your business. Start with the most urgent need. A person with a family history of heart disease needs health insurance first. A person who just bought a new car needs motor insurance first. Do not buy unnecessary\u00a0types of general insurance<\/strong>\u00a0just because someone else bought them.<\/span><\/p>

                Step 2: Decide the Right Sum Insured<\/strong><\/span><\/p>

                Sum insured is the maximum amount your\u00a0insurance policy<\/strong>\u00a0will pay. For health insurance, a good starting sum is five to ten lakhs for a young individual. For car insurance, choose the IDV (insured declared value) equal to the current market value of your vehicle. For home insurance, calculate the reconstruction cost of your building, not the market price. Choosing too low a sum insured reduces your\u00a0insurance benefits<\/strong>\u00a0at the time of claim.<\/span><\/p>

                Step 3: Use Online Policy Comparison Tools<\/strong><\/span><\/p>

                Never buy the first\u00a0insurance policy<\/strong>\u00a0you see. Use at least two different\u00a0policy comparison<\/strong>\u00a0websites. Enter the same details and compare premiums, coverage limits, deductibles, and add-ons. Lower premium doesn\u2019t always mean better value. Sometimes a slightly higher premium gives much better\u00a0insurance coverage<\/strong>\u00a0with fewer exclusions.<\/span><\/p>

                Step 4: Check the Claim Settlement Ratio<\/strong><\/span><\/p>

                This number tells you how many claims the insurer actually pays. A claim settlement ratio of 85% or above is considered good. You can find this data on the insurance regulator\u2019s website. A high ratio means the company is reliable. Do not ignore this step. Even the cheapest\u00a0general insurance<\/strong>\u00a0policy is useless if the company refuses to pay your claim.<\/span><\/p>

                Step 5: Read the Exclusions and Waiting Periods<\/strong><\/span><\/p>

                Every\u00a0general insurance<\/strong>\u00a0policy has a list of exclusions (things not covered). For health insurance, common exclusions include cosmetic surgery, infertility treatment, and injuries from adventure sports. For motor insurance, normal wear and tear and mechanical breakdown are not covered. Health policies also have waiting periods for pre-existing diseases (typically two to four years). Having Understanding exclusions prevents nasty surprises during claim time.<\/span><\/p>

                Step 6: Add Optional Covers (Riders)<\/strong><\/span><\/p>

                Basic\u00a0insurance coverage<\/strong>\u00a0often leaves out important risks. You can add riders or add-ons for a small extra premium. For health insurance, add critical illness cover or maternity cover. For motor insurance, add zero depreciation cover, engine protection, or roadside assistance. For travel insurance, add adventure sports coverage if you plan to ski or scuba dive. Each rider increases your\u00a0insurance benefits<\/strong>\u00a0significantly for a small cost.<\/span><\/p>

                Step 7: Choose a Reputable Insurer with Good Service<\/strong><\/span><\/p>

                Look for insurers with a large network of cashless hospitals (for health) or cashless garages (for motor). Read customer reviews on claim settlement speed and behavior. A company with low premiums but poor service will cause you stress when you need them most. After your\u00a0policy comparison<\/strong>, pick an insurer that balances cost and service quality.<\/span><\/p>

                For a detailed explanation of how\u00a0General Insurance<\/strong>\u00a0differs from life insurance and which one you should prioritize based on your age and income, you can read our separate guide on \u201cGeneral Insurance vs Life Insurance \u2013 Which One First?\u201d That blog covers real-life examples and claim scenarios.<\/span><\/p>

                Conclusion<\/strong><\/span><\/p>

                General insurance<\/strong>\u00a0saves you from financial disasters caused by accidents, illnesses, theft, fire, and legal liabilities. In the guide we covered\u00a0top 7 benefits of buying general insurance <\/strong>which\u00a0include medical bill protection, vehicle repair coverage, home safety, liability payment, travel support, tax savings, and business continuity. Have understanding of important\u00a0types of general insurance<\/strong>\u2014health, motor, home, travel, and commercial\u2014helps you choose the right\u00a0insurance policy<\/strong>. Always do a\u00a0policy comparison<\/strong>\u00a0before purchasing, check claim settlement ratios, read exclusions carefully, and add useful riders. A well-chosen\u00a0general insurance<\/strong>\u00a0plan costs a small annual premium but returns huge\u00a0insurance always benefits<\/strong>\u00a0when you need them the most. Do not wait for an accident to happen. Buy your\u00a0insurance coverage<\/strong>\u00a0today and protect your hard-earned money.<\/span><\/p>

                Frequently Asked Questions (FAQs)<\/strong><\/span><\/p>

                1. Can I buy more than one general insurance policy for the same asset?<\/strong><\/span><\/li><\/ol>

                  Yes, you can buy two health insurance policies or two motor insurance policies. However, you cannot claim the same expense twice. This is called the principle of indemnity. If you have two policies, you can claim the remaining amount from the second policy after the first policy pays up to its limit. This is useful for very high medical bills.<\/span><\/p>

                  1. Is third-party motor insurance enough, or should I buy comprehensive coverage?<\/strong><\/span><\/li><\/ol>

                    Third-party motor\u00a0insurance coverage<\/strong>\u00a0is legally required and cheaper. But it only pays for damage you cause to others. It doesn\u2019t pay for repairs to your own car. Comprehensive\u00a0general insurance<\/strong>\u00a0pays for your own vehicle damages from accidents, theft, fire, and natural disasters. If you own an expensive or new car, comprehensive coverage is strongly recommended.<\/span><\/p>

                    1. What is the no-claim bonus in general insurance?<\/strong><\/span><\/li><\/ol>

                      A no-claim bonus (NCB) is a discount on your premium when you dont create any claim during a policy year. It applies to motor\u00a0insurance policy<\/strong>\u00a0renewals. The discount starts at 20% and can go up to 50% after five consecutive claim-free years. NCB is attached to the policyholder, not the vehicle. You can transfer it if you sell your car and buy a new one.<\/span><\/p>

                      1. How do I make a claim on my health insurance policy?<\/strong><\/span><\/li><\/ol>

                        First, inform your insurer within 24 to 48 hours of hospitalization. For cashless treatment, choose a network hospital. Show your health\u00a0insurance policy<\/strong>\u00a0card. The hospital coordinates with the insurer. For reimbursement claims, you pay the hospital bill first, then submit all original bills, discharge summary, and claim form to the insurer. They will reimburse you within 15 to 30 days.<\/span><\/p>

                        1. Can I change my general insurance company at renewal time?<\/strong><\/span><\/li><\/ol>

                          Yes, you can switch to a different company when your\u00a0insurance policy<\/strong>\u00a0expires. For motor and health insurance, portability is allowed. You must apply for portability at least 45 days before renewal. The new company will offer similar or better\u00a0insurance coverage<\/strong>\u00a0and will credit your no-claim bonus and waiting period credits. Do not let your policy lapse before switching.<\/span><\/p>

                          1. Are pre-existing diseases covered immediately in health general insurance?<\/strong><\/span><\/li><\/ol>

                            No, most of the health\u00a0general insurance<\/strong>\u00a0policies have a waiting period for pre-existing diseases like diabetes, high blood pressure, or asthma. The waiting period is most likely two to four years. After completing that period, the policy covers treatments related to those diseases. Some policies offer a reduced waiting period for a higher premium. Always check this before buying policy.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

                            Many people lose large sums of money every year because they have no financial protection against accidents, illnesses, or property damage. This article explains the\u00a0Top 7 Benefits Of Buying General Insurance\u00a0in simple words. You\u2019ll also learn the\u00a0Top Benefits of General Insurance\u00a0and how\u00a0General Insurance\u00a0works for ordinary people. Having Understanding\u00a0insurance coverage\u00a0before an emergency happens is a smart move. Let us start with the basics and then move to the seven benefits, the main types, and a simple method to choose the right\u00a0insurance policy. What Is General Insurance? A Simple Explanation General Insurance\u00a0refers to any\u00a0insurance policy\u00a0that doesn\u2019t cover death or survival. Instead, it covers your assets, health, travel risks, and legal liabilities. Common examples include health plans, car or bike insurance, home insurance, and travel insurance. Unlike life insurance,\u00a0general insurance\u00a0is usually bought for one year and renewed every year. The\u00a0insurance benefits\u00a0you receive depend on the actual loss you suffer. This creates\u00a0general insurance\u00a0an Important tool for protecting your savings from unexpected events such as fire, theft, accidents, or sudden hospitalization. Top 7 Benefits Of Buying General Insurance Let us look at the seven most valuable\u00a0insurance benefits\u00a0you get when you buy a\u00a0general insurance\u00a0plan. Protection Against Medical Emergencies A sudden heart attack or a major accident can lead to hospital bills of hundreds of thousands of rupees. Health insurance, which is a major part of\u00a0general insurance, pays for room rent, doctor charges, surgery costs, and medicines. Without this\u00a0insurance coverage, many families fall into heavy debt. With a good health\u00a0insurance policy, you get cashless treatment at network hospitals. This is one of the\u00a0top benefits of general insurance\u00a0because it saves both your health and your wealth at the same time. Safety for Your Car and Bike Motor vehicle accidents happen every day. Repairing a damaged car can cost as much as buying a second-hand vehicle.\u00a0General insurance\u00a0for your car or bike pays for repairs after an accident, theft, fire, or natural disaster. Third-party motor\u00a0insurance coverage\u00a0is legally required in most places. It pays for damage you cause to another person\u2019s vehicle or property. Comprehensive motor policies also cover your own vehicle damages. Without this\u00a0insurance policy, one small mistake on the road could empty your bank account. Home and Content Protection Your home is likely your most expensive asset. A flood, earthquake, fire, or burglary can destroy it completely. Home\u00a0insurance coverage\u00a0pays to rebuild your home structure. It also covers your furniture, electronics, and other valuables inside. Many people do not realize that their home loan doesn\u2019t protect against disasters. Only a proper\u00a0general insurance\u00a0plan gives that protection. The\u00a0insurance benefits\u00a0here include temporary accommodation costs if your home becomes uninhabitable. Liability Coverage for Legal Costs Consider this situation: you are driving and accidentally hit a pedestrian. You could be sued for medical bills and compensation. Without liability cover in your motor\u00a0insurance policy, you would have to pay these costs from your pocket. Liability coverage is also available in home and commercial\u00a0general insurance\u00a0plans. It pays for legal defense charges and court awards up to your policy limit. This\u00a0insurance benefit\u00a0often goes unnoticed but can save you from financial ruin. Financial Support During Travel International travel involves many risks: flight cancellations, lost luggage, emergency dental treatment, or even a medical evacuation from a foreign country. Travel\u00a0general insurance\u00a0covers all these events. If you fall sick in a different country and need hospitalization, your travel\u00a0insurance policy\u00a0pays the foreign hospital directly. Without it, you might have to arrange huge sums in an unfamiliar place. This is a low-cost\u00a0insurance coverage\u00a0that gives high\u00a0insurance benefits\u00a0for frequent travelers. Tax Savings on Premiums In many tax systems, premiums paid for\u00a0general insurance\u00a0policies such as health insurance qualify for deductions. For example, under section 80D of the Income Tax Act, you can reduce your taxable income by the amount of premium paid for yourself and your family. Senior citizens get even higher deductions. This means\u00a0general insurance\u00a0not only protects you but also lowers your annual tax bill. That is a direct financial benefit on top of the protection. Business Continuity for Small Owners Small business owners face many risks: a shop fire, theft of inventory, or a customer slipping and suing. Commercial\u00a0general insurance\u00a0policies cover these events. Business interruption\u00a0insurance coverage\u00a0pays your lost profits and fixed expenses while your shop or office is being repaired after a covered disaster. Without this\u00a0insurance policy, a single fire could close a small business forever. For self-employed people and shopkeepers, this is one of the\u00a0top benefits of general insurance. Main Types of General Insurance To choose the right plan, you need to know the different\u00a0types of general insurance\u00a0available in the market. Type of General Insurance What It Covers Health Insurance Hospitalization, pre and post hospitalization, daycare procedures, ambulance, critical illness Motor Insurance Own damage repairs, third-party liability, theft of vehicle, personal accident cover for driver Home Insurance Building structure (fire, flood, earthquake, storm), contents (furniture, appliances, jewelry) Travel Insurance Trip cancellation, missed flight, lost checked baggage, emergency medical treatment abroad Commercial Insurance Property damage to business, liability for employee injury, business interruption, product liability Each\u00a0types of general insurance\u00a0has different sub-plans. For example, health insurance includes individual plans, family floater plans, and senior citizen plans. Motor insurance includes third-party only and comprehensive plans. A\u00a0policy comparison\u00a0between these sub-types is necessary before buying. How to Choose the Right General Insurance Policy Now that you know the\u00a0top 7 benefits of buying general insurance\u00a0and the main types, here is a simple step-by-step method to select the best\u00a0insurance policy\u00a0for your needs. Step 1: Identify What You Need to Protect Create a list of your valuable assets: your health, your car, your home, your travel, or your business. Start with the most urgent need. A person with a family history of heart disease needs health insurance first. A person who just bought a new car needs motor insurance first. Do not buy unnecessary\u00a0types of general insurance\u00a0just because someone else bought them. Step 2: Decide the Right Sum Insured Sum insured is the maximum amount your\u00a0insurance policy\u00a0will pay. For health insurance, a good starting sum is five to ten lakhs for a young individual. For car insurance, choose the IDV (insured<\/p>\n","protected":false},"author":1,"featured_media":11422,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"yoast_head":"\nTop 7 Benefits Of Buying General Insurance: Types and How to Choose - Riskbirbal Insurance Brokers Private Limited<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/riskbirbal.com\/blogs\/benefits-of-general-insurance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 7 Benefits Of Buying General Insurance: Types and How to Choose - Riskbirbal Insurance Brokers Private Limited\" \/>\n<meta property=\"og:description\" content=\"Many people lose large sums of money every year because they have no financial protection against accidents, illnesses, or property damage. This article explains the\u00a0Top 7 Benefits Of Buying General Insurance\u00a0in simple words. You\u2019ll also learn the\u00a0Top Benefits of General Insurance\u00a0and how\u00a0General Insurance\u00a0works for ordinary people. Having Understanding\u00a0insurance coverage\u00a0before an emergency happens is a smart move. Let us start with the basics and then move to the seven benefits, the main types, and a simple method to choose the right\u00a0insurance policy. What Is General Insurance? A Simple Explanation General Insurance\u00a0refers to any\u00a0insurance policy\u00a0that doesn\u2019t cover death or survival. Instead, it covers your assets, health, travel risks, and legal liabilities. Common examples include health plans, car or bike insurance, home insurance, and travel insurance. Unlike life insurance,\u00a0general insurance\u00a0is usually bought for one year and renewed every year. The\u00a0insurance benefits\u00a0you receive depend on the actual loss you suffer. This creates\u00a0general insurance\u00a0an Important tool for protecting your savings from unexpected events such as fire, theft, accidents, or sudden hospitalization. Top 7 Benefits Of Buying General Insurance Let us look at the seven most valuable\u00a0insurance benefits\u00a0you get when you buy a\u00a0general insurance\u00a0plan. Protection Against Medical Emergencies A sudden heart attack or a major accident can lead to hospital bills of hundreds of thousands of rupees. Health insurance, which is a major part of\u00a0general insurance, pays for room rent, doctor charges, surgery costs, and medicines. Without this\u00a0insurance coverage, many families fall into heavy debt. With a good health\u00a0insurance policy, you get cashless treatment at network hospitals. This is one of the\u00a0top benefits of general insurance\u00a0because it saves both your health and your wealth at the same time. Safety for Your Car and Bike Motor vehicle accidents happen every day. Repairing a damaged car can cost as much as buying a second-hand vehicle.\u00a0General insurance\u00a0for your car or bike pays for repairs after an accident, theft, fire, or natural disaster. Third-party motor\u00a0insurance coverage\u00a0is legally required in most places. It pays for damage you cause to another person\u2019s vehicle or property. Comprehensive motor policies also cover your own vehicle damages. Without this\u00a0insurance policy, one small mistake on the road could empty your bank account. Home and Content Protection Your home is likely your most expensive asset. A flood, earthquake, fire, or burglary can destroy it completely. Home\u00a0insurance coverage\u00a0pays to rebuild your home structure. It also covers your furniture, electronics, and other valuables inside. Many people do not realize that their home loan doesn\u2019t protect against disasters. Only a proper\u00a0general insurance\u00a0plan gives that protection. The\u00a0insurance benefits\u00a0here include temporary accommodation costs if your home becomes uninhabitable. Liability Coverage for Legal Costs Consider this situation: you are driving and accidentally hit a pedestrian. You could be sued for medical bills and compensation. Without liability cover in your motor\u00a0insurance policy, you would have to pay these costs from your pocket. Liability coverage is also available in home and commercial\u00a0general insurance\u00a0plans. It pays for legal defense charges and court awards up to your policy limit. This\u00a0insurance benefit\u00a0often goes unnoticed but can save you from financial ruin. Financial Support During Travel International travel involves many risks: flight cancellations, lost luggage, emergency dental treatment, or even a medical evacuation from a foreign country. Travel\u00a0general insurance\u00a0covers all these events. If you fall sick in a different country and need hospitalization, your travel\u00a0insurance policy\u00a0pays the foreign hospital directly. Without it, you might have to arrange huge sums in an unfamiliar place. This is a low-cost\u00a0insurance coverage\u00a0that gives high\u00a0insurance benefits\u00a0for frequent travelers. Tax Savings on Premiums In many tax systems, premiums paid for\u00a0general insurance\u00a0policies such as health insurance qualify for deductions. For example, under section 80D of the Income Tax Act, you can reduce your taxable income by the amount of premium paid for yourself and your family. Senior citizens get even higher deductions. This means\u00a0general insurance\u00a0not only protects you but also lowers your annual tax bill. That is a direct financial benefit on top of the protection. Business Continuity for Small Owners Small business owners face many risks: a shop fire, theft of inventory, or a customer slipping and suing. Commercial\u00a0general insurance\u00a0policies cover these events. Business interruption\u00a0insurance coverage\u00a0pays your lost profits and fixed expenses while your shop or office is being repaired after a covered disaster. Without this\u00a0insurance policy, a single fire could close a small business forever. For self-employed people and shopkeepers, this is one of the\u00a0top benefits of general insurance. Main Types of General Insurance To choose the right plan, you need to know the different\u00a0types of general insurance\u00a0available in the market. Type of General Insurance What It Covers Health Insurance Hospitalization, pre and post hospitalization, daycare procedures, ambulance, critical illness Motor Insurance Own damage repairs, third-party liability, theft of vehicle, personal accident cover for driver Home Insurance Building structure (fire, flood, earthquake, storm), contents (furniture, appliances, jewelry) Travel Insurance Trip cancellation, missed flight, lost checked baggage, emergency medical treatment abroad Commercial Insurance Property damage to business, liability for employee injury, business interruption, product liability Each\u00a0types of general insurance\u00a0has different sub-plans. For example, health insurance includes individual plans, family floater plans, and senior citizen plans. Motor insurance includes third-party only and comprehensive plans. A\u00a0policy comparison\u00a0between these sub-types is necessary before buying. How to Choose the Right General Insurance Policy Now that you know the\u00a0top 7 benefits of buying general insurance\u00a0and the main types, here is a simple step-by-step method to select the best\u00a0insurance policy\u00a0for your needs. Step 1: Identify What You Need to Protect Create a list of your valuable assets: your health, your car, your home, your travel, or your business. Start with the most urgent need. A person with a family history of heart disease needs health insurance first. A person who just bought a new car needs motor insurance first. Do not buy unnecessary\u00a0types of general insurance\u00a0just because someone else bought them. Step 2: Decide the Right Sum Insured Sum insured is the maximum amount your\u00a0insurance policy\u00a0will pay. For health insurance, a good starting sum is five to ten lakhs for a young individual. For car insurance, choose the IDV (insured\" \/>\n<meta property=\"og:url\" content=\"https:\/\/riskbirbal.com\/blogs\/benefits-of-general-insurance\/\" \/>\n<meta property=\"og:site_name\" content=\"Riskbirbal Insurance Brokers Private Limited\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/riskbirbal\/\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-13T11:04:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-13T11:13:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/riskbirbal.com\/blogs\/wp-content\/uploads\/2026\/05\/Top-7-Benefits-Of-Buying-General-Insurance.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"350\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@RiskBirbal\" \/>\n<meta name=\"twitter:site\" content=\"@RiskBirbal\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/riskbirbal.com\\\/blogs\\\/benefits-of-general-insurance\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/riskbirbal.com\\\/blogs\\\/benefits-of-general-insurance\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/riskbirbal.com\\\/blogs\\\/#\\\/schema\\\/person\\\/eca5ab5640e8a4288f39f833c46c73c5\"},\"headline\":\"Top 7 Benefits Of Buying General Insurance: Types and How to Choose\",\"datePublished\":\"2026-05-13T11:04:13+00:00\",\"dateModified\":\"2026-05-13T11:13:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/riskbirbal.com\\\/blogs\\\/benefits-of-general-insurance\\\/\"},\"wordCount\":2050,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/riskbirbal.com\\\/blogs\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/riskbirbal.com\\\/blogs\\\/benefits-of-general-insurance\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/i0.wp.com\\\/riskbirbal.com\\\/blogs\\\/wp-content\\\/uploads\\\/2026\\\/05\\\/Top-7-Benefits-Of-Buying-General-Insurance.jpg?fit=350%2C300&ssl=1\",\"articleSection\":[\"Blog\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/riskbirbal.com\\\/blogs\\\/benefits-of-general-insurance\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/riskbirbal.com\\\/blogs\\\/benefits-of-general-insurance\\\/\",\"url\":\"https:\\\/\\\/riskbirbal.com\\\/blogs\\\/benefits-of-general-insurance\\\/\",\"name\":\"Top 7 Benefits Of Buying General Insurance: Types and How to Choose - 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Riskbirbal Insurance Brokers Private Limited","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/riskbirbal.com\/blogs\/benefits-of-general-insurance\/","og_locale":"en_US","og_type":"article","og_title":"Top 7 Benefits Of Buying General Insurance: Types and How to Choose - Riskbirbal Insurance Brokers Private Limited","og_description":"Many people lose large sums of money every year because they have no financial protection against accidents, illnesses, or property damage. This article explains the\u00a0Top 7 Benefits Of Buying General Insurance\u00a0in simple words. You\u2019ll also learn the\u00a0Top Benefits of General Insurance\u00a0and how\u00a0General Insurance\u00a0works for ordinary people. Having Understanding\u00a0insurance coverage\u00a0before an emergency happens is a smart move. Let us start with the basics and then move to the seven benefits, the main types, and a simple method to choose the right\u00a0insurance policy. What Is General Insurance? A Simple Explanation General Insurance\u00a0refers to any\u00a0insurance policy\u00a0that doesn\u2019t cover death or survival. Instead, it covers your assets, health, travel risks, and legal liabilities. Common examples include health plans, car or bike insurance, home insurance, and travel insurance. Unlike life insurance,\u00a0general insurance\u00a0is usually bought for one year and renewed every year. The\u00a0insurance benefits\u00a0you receive depend on the actual loss you suffer. This creates\u00a0general insurance\u00a0an Important tool for protecting your savings from unexpected events such as fire, theft, accidents, or sudden hospitalization. Top 7 Benefits Of Buying General Insurance Let us look at the seven most valuable\u00a0insurance benefits\u00a0you get when you buy a\u00a0general insurance\u00a0plan. Protection Against Medical Emergencies A sudden heart attack or a major accident can lead to hospital bills of hundreds of thousands of rupees. Health insurance, which is a major part of\u00a0general insurance, pays for room rent, doctor charges, surgery costs, and medicines. Without this\u00a0insurance coverage, many families fall into heavy debt. With a good health\u00a0insurance policy, you get cashless treatment at network hospitals. This is one of the\u00a0top benefits of general insurance\u00a0because it saves both your health and your wealth at the same time. Safety for Your Car and Bike Motor vehicle accidents happen every day. Repairing a damaged car can cost as much as buying a second-hand vehicle.\u00a0General insurance\u00a0for your car or bike pays for repairs after an accident, theft, fire, or natural disaster. Third-party motor\u00a0insurance coverage\u00a0is legally required in most places. It pays for damage you cause to another person\u2019s vehicle or property. Comprehensive motor policies also cover your own vehicle damages. Without this\u00a0insurance policy, one small mistake on the road could empty your bank account. Home and Content Protection Your home is likely your most expensive asset. A flood, earthquake, fire, or burglary can destroy it completely. Home\u00a0insurance coverage\u00a0pays to rebuild your home structure. It also covers your furniture, electronics, and other valuables inside. Many people do not realize that their home loan doesn\u2019t protect against disasters. Only a proper\u00a0general insurance\u00a0plan gives that protection. The\u00a0insurance benefits\u00a0here include temporary accommodation costs if your home becomes uninhabitable. Liability Coverage for Legal Costs Consider this situation: you are driving and accidentally hit a pedestrian. You could be sued for medical bills and compensation. Without liability cover in your motor\u00a0insurance policy, you would have to pay these costs from your pocket. Liability coverage is also available in home and commercial\u00a0general insurance\u00a0plans. It pays for legal defense charges and court awards up to your policy limit. This\u00a0insurance benefit\u00a0often goes unnoticed but can save you from financial ruin. Financial Support During Travel International travel involves many risks: flight cancellations, lost luggage, emergency dental treatment, or even a medical evacuation from a foreign country. Travel\u00a0general insurance\u00a0covers all these events. If you fall sick in a different country and need hospitalization, your travel\u00a0insurance policy\u00a0pays the foreign hospital directly. Without it, you might have to arrange huge sums in an unfamiliar place. This is a low-cost\u00a0insurance coverage\u00a0that gives high\u00a0insurance benefits\u00a0for frequent travelers. Tax Savings on Premiums In many tax systems, premiums paid for\u00a0general insurance\u00a0policies such as health insurance qualify for deductions. For example, under section 80D of the Income Tax Act, you can reduce your taxable income by the amount of premium paid for yourself and your family. Senior citizens get even higher deductions. This means\u00a0general insurance\u00a0not only protects you but also lowers your annual tax bill. That is a direct financial benefit on top of the protection. Business Continuity for Small Owners Small business owners face many risks: a shop fire, theft of inventory, or a customer slipping and suing. Commercial\u00a0general insurance\u00a0policies cover these events. Business interruption\u00a0insurance coverage\u00a0pays your lost profits and fixed expenses while your shop or office is being repaired after a covered disaster. Without this\u00a0insurance policy, a single fire could close a small business forever. For self-employed people and shopkeepers, this is one of the\u00a0top benefits of general insurance. Main Types of General Insurance To choose the right plan, you need to know the different\u00a0types of general insurance\u00a0available in the market. Type of General Insurance What It Covers Health Insurance Hospitalization, pre and post hospitalization, daycare procedures, ambulance, critical illness Motor Insurance Own damage repairs, third-party liability, theft of vehicle, personal accident cover for driver Home Insurance Building structure (fire, flood, earthquake, storm), contents (furniture, appliances, jewelry) Travel Insurance Trip cancellation, missed flight, lost checked baggage, emergency medical treatment abroad Commercial Insurance Property damage to business, liability for employee injury, business interruption, product liability Each\u00a0types of general insurance\u00a0has different sub-plans. For example, health insurance includes individual plans, family floater plans, and senior citizen plans. Motor insurance includes third-party only and comprehensive plans. A\u00a0policy comparison\u00a0between these sub-types is necessary before buying. How to Choose the Right General Insurance Policy Now that you know the\u00a0top 7 benefits of buying general insurance\u00a0and the main types, here is a simple step-by-step method to select the best\u00a0insurance policy\u00a0for your needs. Step 1: Identify What You Need to Protect Create a list of your valuable assets: your health, your car, your home, your travel, or your business. Start with the most urgent need. A person with a family history of heart disease needs health insurance first. A person who just bought a new car needs motor insurance first. Do not buy unnecessary\u00a0types of general insurance\u00a0just because someone else bought them. Step 2: Decide the Right Sum Insured Sum insured is the maximum amount your\u00a0insurance policy\u00a0will pay. For health insurance, a good starting sum is five to ten lakhs for a young individual. For car insurance, choose the IDV (insured","og_url":"https:\/\/riskbirbal.com\/blogs\/benefits-of-general-insurance\/","og_site_name":"Riskbirbal Insurance Brokers Private Limited","article_publisher":"https:\/\/www.facebook.com\/riskbirbal\/","article_published_time":"2026-05-13T11:04:13+00:00","article_modified_time":"2026-05-13T11:13:59+00:00","og_image":[{"width":350,"height":300,"url":"https:\/\/riskbirbal.com\/blogs\/wp-content\/uploads\/2026\/05\/Top-7-Benefits-Of-Buying-General-Insurance.jpg","type":"image\/jpeg"}],"author":"admin","twitter_card":"summary_large_image","twitter_creator":"@RiskBirbal","twitter_site":"@RiskBirbal","twitter_misc":{"Written by":"admin","Est. reading time":"10 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href=\"https:\/\/riskbirbal.com\/blogs\/category\/blog\/\" rel=\"category tag\">Blog<\/a>","rttpg_excerpt":"Many people lose large sums of money every year because they have no financial protection against accidents, illnesses, or property damage. This article explains the\u00a0Top 7 Benefits Of Buying General Insurance\u00a0in simple words. You\u2019ll also learn the\u00a0Top Benefits of General Insurance\u00a0and how\u00a0General Insurance\u00a0works for ordinary people. Having Understanding\u00a0insurance coverage\u00a0before an emergency happens is a smart…","_links":{"self":[{"href":"https:\/\/riskbirbal.com\/blogs\/wp-json\/wp\/v2\/posts\/11419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskbirbal.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskbirbal.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskbirbal.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/riskbirbal.com\/blogs\/wp-json\/wp\/v2\/comments?post=11419"}],"version-history":[{"count":4,"href":"https:\/\/riskbirbal.com\/blogs\/wp-json\/wp\/v2\/posts\/11419\/revisions"}],"predecessor-version":[{"id":11436,"href":"https:\/\/riskbirbal.com\/blogs\/wp-json\/wp\/v2\/posts\/11419\/revisions\/11436"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskbirbal.com\/blogs\/wp-json\/wp\/v2\/media\/11422"}],"wp:attachment":[{"href":"https:\/\/riskbirbal.com\/blogs\/wp-json\/wp\/v2\/media?parent=11419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskbirbal.com\/blogs\/wp-json\/wp\/v2\/categories?post=11419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskbirbal.com\/blogs\/wp-json\/wp\/v2\/tags?post=11419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}