Answered according to Hanafi Fiqh by

Q: Is insurance permissible, specifically:
1. Car (fully comprehensive, third party damage/ fire/ theft, personal injury only that comes with car rego); 2.  house (including public liability) and contents (if you have a guest that hurt themselves in your house, they may sue you) private health / hospital cover; 3. professional indemnity (if patient decides to sue a doctor, this is compulsory for registration with medical board);4. business (including public liability and theft).

A:All insurance bar those which are compulsory are haraam. nsurance is Haraam because it involves interest and the element of chance, which is a factor found in gambling.

Council of Ulama
Eastern Cape