A contract that provides a policyholder with financial protection or reimbursement against losses from an insurance provider is known as insurance. The business combines the risks of its clients to lower the insured's payment costs. Most individuals carry insurance of some kind, whether it be for their lives, their home, their vehicles, or their health. Insurance policies protect against monetary losses brought on by accidents, injuries, or loss of property. The costs of liability, or becoming legally responsible for harm or damage done to a third party, are also partially covered by insurance.