Bharti AXA INSURANCE GLOSSARY Cover Cover A cover is the amount of risk or liability that an insurance service covers for an individual or an entity. It helps the insured to recover from financial losses emanating from an unexpected event like a motor accident or loss of income due to an injury. The insurance cover is offered in consideration of a premium paid by the policyholder. The premium depends on the risk estimated by the insurance provider. The two main types of insurance covers are motor insurance cover and life insurance cover. Typical the cost of motor insurance is higher for urban drivers compared to those in rural areas as urban centres experience a higher rate of vandalism, theft and accidents. Further, someone who drives long distances regularly may have to pay a higher premium as the chance of meeting an accident increases with the mileage. If the policyholder has a history of accidents, the insurer would typically charge a higher premium for the same cover. The premium for life insurance cover primarily depends on the age of the insured. As young people are less likely to die than older people, they are charged a lower premium. If the insured participates in risky activities, the premium paid for a life cover may go up. For example, the premium paid by a racecar driver will be significantly higher than the premium paid by a software engineer for the same cover. Request Call Back Category * - Select -CarTwo WheelerHealthTravelPersonal Accident Buy Renew Claim submit Related Posts Disclaimer : The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Travel needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.