Insurance providers are companies that offer various types of insurance policies to individuals and businesses. These policies help protect against financial loss by covering risks such as accidents, health issues, property damage, and liability. Common types of insurance include health insurance, auto insurance, and homeowners insurance. When customers purchase a policy, they pay a premium, which is a regular fee, in exchange for coverage. In the event of a claim, the insurance provider compensates the policyholder according to the terms of the policy. This system helps individuals manage unexpected expenses and provides peace of mind.