Personal insurance refers to a type of insurance coverage that individuals can obtain to protect themselves and their belongings against various risks and potential financial losses. It provides a safety net for individuals and families, offering financial support in case of unexpected events or accidents that could result in significant costs. Personal insurance is designed to provide peace of mind and security by transferring the risk of potential losses to an insurance company.

Personal insurance covers a wide range of risks and potential financial losses that individuals may face. It includes coverage for health expenses, such as medical treatments and hospital stays, ensuring individuals have access to necessary healthcare services. Property insurance protects against damage or loss to personal property, including homes, vehicles, and belongings, due to events like fires, theft, or natural disasters. Liability insurance provides coverage if someone is held responsible for causing injury or property damage to others. Lastly, life insurance offers financial support to beneficiaries in the event of the policyholder's death, helping to cover funeral expenses, debts, and provide financial stability for loved ones.