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InsuranceThere are many types of insurance. The basic idea for all policies is that you pay a company who pay you on the occurance of an event. For example you insure your car and if you have an accident the insurance company will pay for the car to be repaired. They make money by balancing the amount of money they collect in premiums againts the claims they payout.You can insure many things but these are the most common types of insurance.
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