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5 Strangest insurances ever!

Buying insurance is not uncommon, one wants to secure the money involved in an asset and thus he gets it insured. But here is the funny part: people have insured things which are weird if not downright hilarious! So, without further ado, let’s jump on to 5 Most Strangest Insurance Policies Ever.

Last but definitely not the least, if you planned for one child and got a surprise of multiple, you can get an insurance to pay for the expenses.

What you should do in case of accidents?

You’re driving safe. You’ve got your eyes on the road, and your seat belt on. But even if you do everything right, accidents well, they simply happen. While we know you’re doing your best to avoid accidents, here’s a list of essential tips to keep in handy in case you’re in an emergency:

The new age insurance is changing the game.

The New Age insurance is evolving and we are seeing a lot of new age insurers entering the game alongside the traditional players

Keep your car in great shape!

Your car gets you safely everywhere you want to go, but it requires that you take good care of it in order for it to keep running. Some of these simple maintenance issues can actually result in an accident or injuries. Take the time to make sure these 10 things are checked regularly and maintained as needed and avoid a potential accident or claim.

A look at how far we've come and where we're headed.

When truth and transparency are built into the core of fibre of an insurance company, you know you are in trustworthy hands. This is the way of life at Magma HDI, and the fundamental reason it has been able to sell 1 million policies in FY19, as on February 21, 2019.

Buying insurance? We’ve removed the fear factors.

We understand your fears and apprehensions and here’s what we have done to put an end to that Magma HDI general insurance’s range of policy for your health and assets:

How Magma HDI liability insurance makes you a responsible citizen?

It is hard to name a single businessman who hasn’t taken risks, but you will know many brave ones who trusted luck and risked everything. Truth be told, as a responsible business owner and citizen, one needs to be prepared with and Magma HDI offers a wide range of liability policies

Here is how Magma HDI is revolutionizing claim settlement.

Thanks to the technology, computers or the smart phone in your hand filing a claim has never been easier.

For instance in case your vehicle meets with an accident and when you make a claim, Magma HDI trusts you and lets you take charge of the process . You don’t have to fill lengthy forms, attach documents of proof, or undergo a tedious process in getting your claim registered. All you need to do is attach a soft copy of your request and documentation and email us, or better yet! Fill your claim form online.

Buying a house? What you need to know about home insurance policy

Home is a name, a word, it is a strong one; stronger than magician ever spoke, or spirit ever answered to, in the strongest conjuration. – Charles Dickens

You’ve made the big decision to purchase a dream house: reality is finally sweeter than your dreams! Congratulations.

This Raksha Bandhan, do it differently!

Someone has rightly said that siblings are your only enemies you can’t live without. As you know, Raksha Bandhan is round the corner! And for the brothers who can’t figure what to gift your beloved sister, we suggest you do something different, something that guarantees long term happiness. We’ve thought of the following ideas that will help her achieve financial's.

Did you know you could safeguard your precious gadgets/equipment with this one step?

Connectivity has become the fourth pillar of our rations today. Each one of us, at least, own three gadgets, in which we store and share critical data. Whether it is business-related information or personal details, our gadgets hold a lot of information that, if leaked, could cause serious damage. Besides the implications of a security breach, these gadgets come at a high cost, and replacing a lost or stolen one may seriously burn a hole in the pocket.

What is the claim settlement ratio?

Have you thought of your insurance claim getting rejected? Scary is’nt it?

Any individual taking an insurance policy would never think about their claim not being approved, but there have been numerous incidents of insurance claim rejection. Some of the reasons could be due to negligence on the part of the policyholder, but sometimes, it could also be because of choosing the wrong policy provider who looks for loopholes to avoid paying claims.

Do I need marine insurance?

Insurance provides the safety net required to protect the financial integrity of your personal and professional needs. If you are in the business of sending or receiving physical goods from one destination to another, insuring your goods and business interests inevitably becomes your priority. 

Mistakes to avoid while buying a health insurance policy

Given the rising healthcare cost, a sudden medical emergency can put a significantly hole in your pocket. A health insurance policy, therefore, is an absolute must to get timely and expert medical help for yourself and your family. Plus, the added tax benefits help you save money.

Health insurance v/s critical illness insurance: All you need to know

There’s an ongoing debate between the importance of health insurance and critical illness insurance. Most people either confuse health insurance with critical illness cover or consider it to be an option. While both insurance plans act as a financial cushion for health-related contingencies, let’s learn the truth about both:

  Health Insurance Critical Illness Insurance
Scope Provides overall benefit in terms of medical and hospitalization cost. Provides lump sum amount in case of critical illnesses, such as cancer, stroke, heart attack, multiple organ transplant, etc.  
Coverage Covers pre and post hospitalization expenses due to a medical conditions or accidents, domiciliary treatment, day care procedures, etc. Covers specific diseases. The payout can be used for treatment expenses, repay debts, accommodate lifestyle changes, etc.
Premium Since the scope of coverage is higher, the premium amount is also comparatively higher Since this covers specific illnesses, you get a higher coverage pertaining to that illness but at a lower premium
Recommended for For every member of the family Usually for members above the age of thirty-five belonging to a family with a history of critical illness 

Get the peace of mind you deserve with one step

We all know that setting up a business and buying an asset takes a lot of time and toiling, it may be a car, your dream house or simply a household item.

For many, work and business is a doppelganger of their personal identity. Your office could have cash, valuables, goods and raw material, critical documents or intellectual property that in an event of a theft or burglary can leave you financially crippled. 

Everything you need to know about engineering insurance

Does your business rely heavily on machines and equipment? If yes, then you surely must’ve heard about machinery breakdown insurance. Even if you haven’t, worry not, we’re here to explain

How to find affordable personal accident plans with these easy steps

Congratulations! That’s a very smart decision you’ve made, having decided to get personal accident insurance for yourself. But what now? Not sure where to start or which insurance to get? Don’t worry, that’s why we are here – to help your find the right plan using our truth lens 

Why do you need health insurance in India?

We’re always talking about how densely populated India is but have you ever stopped to think what it means for us? Well, the metros are over-crowded for one, but there is more. 

Everything you should know about bike insurance in India

If you own a vehicle, most likely it’s a bike. A two-wheeler is most people’s first choice due to the low price and easier upkeep. The latter, however, is something that is not always true. Even a small accident, due to your or someone else’s error, can lead to a hefty bill. So, does that mean two-wheelers aren’t as economical as we thought?

7 things you need to know about public liability insurance

Accidents happen. Sometimes due to negligence and sometimes due to sheer bad luck.

What if a customer slips and falls at your premise and breaks a bone? Or purchases an electrical device from you which causes a short circuit at their home resulting in a fire? In either of these incidents, as a business owner, you can be liable to compensate for the loss/damage to life, property and the legal fees a third party incurs.

Bought A New Car This Monsoon Season? Don’t Forget to Buy Car Insurance Too

Driving around in a new car is an exciting feeling. But with owning a car, comes the responsibility of keeping it safe on the roads. In case of an event involving accident, theft, or fire, you may need compensation for damages sustained. Weather is also one of the primary factors due to which your car may suffer damage. Getting car insurance is a great way to provide a cover for your financial losses, especially during the monsoon season.

How NCB Works for Car Insurance?

Your car insurance comes with an annual premium, which helps you bear the financial losses that may arise due to an accident. While a claim-free year may seem like a waste of money since you paid the premiums but didn't really use the benefits, it's really not the case. Firstly, having insurance provides you with mental peace that in the case of any mishap, your finances will be covered. Secondly, your insurance provider offers you discounts on your next year's premium if don't make a claim in the previous year. This is what is known as a No-Claim Bonus (or NCB). Keep reading to find out more on how to maximize savings on your private car insurance in India.

What should you know about NCB?

Car insurance companies reward vehicle owners who drive safely with no-claim bonuses. The bonus becomes applicable if you get through one policy year without making a claim. The company pays the discount on Own Damage (OD) premium for each claim-free year

Typically, the amount can vary from one insurer to another. But, discounts begin at 20% per year and can go up to 50% for five claim-free years or more.

How does NCB work?

When a policyholder does not file any claim in the past one year, a no-claim bonus is initiated by the insurer.

As a result of this, you’ll get a discount on your annual premium amount subject to increase with every succeeding year.

Things to remember about NCB in India

An essential feature of NCB is that it relates to the policyholder, not the vehicle as it rewards you for precautions taken on your end. So, you can retain your NCB even if you replace your existing vehicle. Other prominent features of a no-claim bonus are:

• Applies even when you switch the insurer

When you switch from one insurer to another, the no-claim bonus remains unaffected. For example, if you have a policy from company X for the last five years with no claims made and you shift to company Y later on, the company Y will give you a benefit of 50% discount on your annual premium as NCB.

• Bonus increases every year

The insurance companies calculate your no-claim bonus in the range of 20%-50% on an annual incremental basis.

• Doesn’t apply on third-party cover

Keep in mind that the no-claim bonus applies to the own damage or OD cover on your auto insurance. So, if you have only the third-party (TP) cover, you’re not eligible for NCB. However, if you have both OD and TP protection, you’ll receive the discount proportionately.

Protecting your NCB

As NCB policyholders, you are entitled to a maximum discount of 50% for five claim-free years. However, this discount expires if you make even a single claim. In such a case, to protect your NCB, insurers give you the option of opting for an add-on cover. It covers your claim in order to protect your NCB.

Another great hack to keep your NCB would be to avoid making claims for smaller damages.

Head over to Magma HDI to find out more about NCB available with your private car insurance in India.

How to renew your bike insurance?

Are you wondering why it's important to renew your two-wheeler insurance on time? Well firstly, you are required by law to have insurance for any motorised vehicle on road, so that in itself is reason enough to renew your insurance on time. But beyond that, timely renewals have a lot more to offer to you. If you fail to renew your policy on time, your vehicle is completely unprotected for that period of time. And with so much that could happen to your two-wheeler, it's not wise to take that kind of risk.

The process of online renewal

If you wait until the expiry of your bike insurance, you’ll expose your two-wheeler to unnecessary risks. In most of the cases, insurers give a grace period to renew your policy. However, if you raise a claim in the grace period, it will not be honored because the policy does not exist during this period.

So, follow this simple procedure to stay ahead of the curve and avoid any repercussions of a lapsed policy.

  • You can either go to your insurer to renew your policy, or you can pay your policy premium and renew your two-wheeler insurance online.
  • To do it online, l5ogin to the website of your insurer and enter details of your previous policy as well as your bike.
  • Select the insurance policy that you need.
  • Choose the insured declared value (IDV) and add-ons if you need any.
  • Make payment through NEFT/ Debit/Credit card etc.
  • You have successfully renewed your policy!

The rate of renewal depends on the day when your policy comes into effect and the duration of the policy period.

Benefits of renewing your two-wheeler insurance online

Renewing your bike insurance is fairly simple if you understand the process. With a little help, you can renew your insurance policy online from anywhere. If you still aren't convinced, here are a few benefits that will definitely make you favour renewing your two-wheeler insurance online:

  • Renew the policy without new inspection.
  • No fresh documentation required.
  • It only takes a few minutes to renew the policy without any extra charges.
  • You can compare the best deals and choose an appropriate one.
  • The insurers provide complete chat and phone support to clear your doubts.

Most importantly, it’s necessary to stay updated about the expiry time and renewal conditions of your bike insurance before it’s too late. With the ease of online renewal, you no longer have any excuse for delays. So head over to an insurance provider like Magma HDI to renew your policy now.

What the world would be like if general insurance did not exist?

A world without general insurance is a world with millions of financially unprotected people. It may even be compared to a person without vaccination! The going is good as long as you don’t contract major diseases.

Why is insurance important?

It's not always possible to prevent falling sick. No matter how careful you are, someone can still break into your house. This uncertainty is what makes insurance important. It's a safety net that ensures that even if something happens, your finances don't suffer. At least not too severely. You can think of insurance as that vaccine that safeguards you against any future issues. After all, it is better to be safe than sorry.

General insurance in India covers an entire gamut of important aspects like health, home, vehicle, travel etc. Thus, to overcome the risks of everyday living, we need its security.

But what happens if there was no insurance?

You never realize the value of something until it isn’t available to you. That’s just good old human nature. So let’s appreciate insurance for what it does for us today.

Scenario 1:

You are driving back home, and it feels like every other day. However, a novice driver, driving a car with an L sign, hits your car and then speeds off. It leaves you with a broken headlight, dents and a damaged bumper.

Without motor insurance, now you need to pay everything out of your pocket. Motor Insurance would have covered you by paying for damages to the vehicle and its owner. You could even increase your coverage by opting for add-ons such as personal accident cover and engine protection. Sounds much better than just lamenting at your loss right?

The only travel packing list you will ever need!

“I don’t want to go on a holiday!” SAID NO ONE EVER.

Did you know that the research suggests that the work efficiency improves tremendously once we’re back from holidays!

7 things to keep in mind while buying health insurance in India

Health insurance happens to be one of the most serious decisions of your life as far as your health is concerned. Good health insurance policies ensure you the much-needed peace of mind, as it protects you and your family against the various health hazards that may find you unprepared.

Here, we will look at seven things to keep in mind before buying health insurance in India.

Best Bikes to ride in your youth days

The thing about youth is that it is not everlasting. It comes and goes before you might even realize. As you dawn towards your old age, you may be left to wonder if you made the best out of your youthful days or not — such is the tragedy of time.

When you are young, you will also want to experience the thrill and excitement which comes with certain activities, such as riding a motorbike. Riding is one of the popular occupations of youth — one that they rejoice in whole-heartedly.

Best Two Wheelers to Buy in India

Two-wheelers come as saviors at a time when Indian roads are bustling with traffic. It is particularly annoying when you are going out for a ride. If you are alone, then rides are best experienced when you are on a two-wheeler.

How to get a 360 Degree health cover and what are its benefits

The onset of modern life has lead to various dietary and lifestyle changes. In an effort to keep up with your health and deal effectively with any health issue, it is essential to get hold of a health insurance which provides 360-degree all-round protection.

Why health insurance claims get rejected

One of the best ways to safeguarding your finances while availing medical treatments is getting health insurance. Good health insurance protects you and your family against the various health risks that life toss at us over time — it lets us have that peace of mind.

A Comprehensive Health Insurance Checklist

The health of you and your family is something that cannot be traded. You must make sure in all walks of life that it is well taken care of, and that if something falls stray, you have good health insurance to back things up.

If you are looking to buy health insurance in India for your parents, then you should put special effort into choosing a policy which caters to the need of growing age — a policy which has an extended cover period at reasonable rates.

Deductibles you should be aware of in your health insurance plan

Health insurance plans are much needed as they provide you with a sense of protection against the various odds in life. If you are trying to get the best health insurance in India for parents, or other members in your family, then you should look at a plan which offers extended cover at low premium rates.

Monsoon Safety Checklist for your cars

Monsoons might not be the ideal time to drive around. The roads are slippery, and there are higher chances of meeting with an accident. However, the rainy season does not mean that you should stop driving altogether.

Instead, you should make sure that you follow some safety points to make sure that your driving experience is smooth and safe.

Things to Know before bike alterations

If you are someone who loves riding bikes, then you would not mind spending hours end on trying to make the best out of it, modifying it so that it stands out and reflects your personality.

Common Two-wheeler issues that can lead to brake failure and its solutions

Bikes have different components, and each of them has separate sets of functions that serve different needs. However, there is one particular component, the role of which cannot and should not be underplayed — brakes.

Tips for first-time health insurance policy buyers

Our lifestyle has been changing steadily with time. These lifestyle changes have made room for several diseases that may come unnoticed. To fend away health insecurities at this time and to progress on your journey of good health, it is essential that you have health insurance.

Health insurance is also important because healthcare costs have gone up significantly, and not having a financial backup can land you into some serious trouble — as far as your health is concerned. To deal with the rising cost of healthcare, and to make sure that you have a solid backup if anything goes wrong with your health, it is important to have good health insurance.

When it comes to buying health insurance, you have to make a note of certain things to make sure that your purchase is orderly. These tips also apply if you want health insurance online. For first-time buyers, these tips can be of great help, as at first glance, health insurance might seem to be a complicated affair.

Get the basics right

For people who are new to the insurance industry, specific insurance-related keywords can be quite confusing. To make sure that you know how health insurance works, you should start by familiarizing yourself with these terms and keywords. Some of the terms that you should know about are co-payment, deductible, premium, et cetera.

Figure out your budget

Health insurance policies have premiums that you have to pay to keep the policy alive, and this is an added expense to your budget. To make sure that you do not overspend, figure out a budget, and pick a policy that fits it well. however, make sure that you do not compromise on the benefits as you choose a cheap policy. Magma HDI health insurance provides great cover at affordable premiums.

Understanding riders

Health insurance riders add additional benefits to your existing insurance policy. You can even add them when you renew health insurance online — just choose the rider option in the online interface. The cost of riders is added to the existing plan, which means that you will have to pay for it separately. Choose a rider only if you need it — be selective, so that you do not end up paying what you think you do not need.

With the onset and the accessibility of the internet, it is advisable to opt for health insurance which can be accessed online. Magma HDI health insurance can be purchased and renewed online with a few easy and hassle-free steps. It comes with features such as optional cover to reduce premium and 24x7 claim assistance, among others, to make sure that your health is the top priority.

It also comes with other key benefits such as optional cover for critical illness and accidents, and cashless hospitalization across more than 4,100 hospitals. With Magma HDI it is also easy to renew health insurance without any hassle and stress.

6 Truths about general insurance you must know

Simply put, general insurance includes all personal insurance plans except life insurance. All of these plans aim to provide coverage against different unforeseeable events in your life and thus, protect your finances. Read on to find out more about general insurance plans and what they can do for you.

1. Coverage

General insurance plans are created to cover every aspect of your life - from health and travel to motor and house. You can even insure your business and shop. With Magma HDI you can even get a public liability insurance with essentially covers you against legal liability arising from property damage of or bodily injury to a third party at your premises (school, office, restaurant etc.)

2. Customisability

We all have different needs, and general insurance plans take the initiative to help secure us against risks that are most pertinent to us. You could design your own insurance safety net depending on your personal needs and finances.

3. Covering multiple risks

Many general insurance plans offer comprehensive services that make it easier to get extensive coverage without having to scout for different insurers or having to deal with the hassle of paying multiple, hefty premiums. For example, a home insurance policy will protect you from various hazards such as fire, floods, theft, riots, etc. under a single plan.

4. Flexible benefits

Many general insurance plans offer all-encompassing benefits that are not restricted merely to a single individual. For example, a family floater health insurance plan provides coverage for your entire family in a single policy. Similarly, commercial insurance will cover multiple risks arising from theft, damage to goods/ stock, machinery breakdown and even risks arising from a vendor’s end. This is a great option to increase your savings and minimizing your work as you would only have to deal with a single company for all your policy benefits.

5. Tenure

While life insurance plans have longer validity, most general insurance plans offer protection based on a yearly renewal. Certain types of insurance, such as motor insurance may offer a longer tenure, say up to three years with a lucrative discount on the premium. However, this feature allows you to play a more significant role in deciding the period of your policy. You also have the option to switch insurance providers at the time of renewal if you feel dissatisfied with your current one.

6. Additional benefits

As an incentive to their customers, general insurance plans come with a host of benefits available to policyholders at a nominal fee. While some are in the form of value-added services such as the provision of rent for alternative accommodation in case your house is damaged, others may be personal accident covers for complete coverage in the event of a motor accident. You can pick and choose while buying/ renewing your policy.

The escalating costs in today's world have made general insurance plans a necessity for every individual and a vital part of any successful attempt at financial planning.

Benefits of getting car insurance

An increasing number of vehicles on the road, along with the insufficient infrastructure to support them, is leading to a rise in the number of accidents and fatalities. There were over 4.61 lakh road accidents just in 2018 and these are only the ones that were reported. Car insurance becomes very important at times like these.  It saves you from paying massive amounts to repair the damages to your car.

Still not convinced? Here are some of the benefits of buying a car insurance policy-

Protects your finances in case of an accident

If an accident happens, your car insurance can protect your finances by covering the repair expenses. If there's a third party involved and you are liable to pay them for any property damage or medical help, you can rest assured as your insurance can take care of that as well. In fact, it doesn't even have to be a road accident, as it also covers claims resulting from man-made and natural calamities like storms, floods, theft, vandalism, or riots.

Offers coverage for theft

You spend so much time, effort and money on buying a new car. The last thing you'd want is for someone to steal it. As sad as that is, it's not impossible. Which is why a good motor insurance policy also covers you against it. If your car is stolen, your policy will reimburse you the cost of your car. It can also cover the cost of repairs resulting from the break-in attempt.

Avail cashless services

When you buy motor insurance, you are entitled to getting cashless services at your insurance provider's network garages. This essentially means that you can get covered services without having to pay a single rupee. Say you damage your vehicle, all you need to do is go to your nearest network garage, show proof of your insurance and get the repairs done.

Covers personal accident liabilities

Motor insurance policies also cover disability or death leading from a car accident. So your motor insurance covers both you and your vehicle. For a person other than the owner/driver, you can separately buy a personal accident cover. The cost of your cover will depend on the extent of coverage you choose

Provides customization with riders

Riders or add-ons offer additional coverage on your basic motor insurance plan after payment of a nominal fee. The standard rider options are:

  • Zero depreciation add-on where your insurer bears the cost of repairs without considering the depreciated value of your car. This feature helps you maintain the value of your car despite wear and tear.
  • Road-side assistance add-on helps you out on the spot whenever you encounter any issues such as a flat tire, dead battery etc. You may even get additional road-side assistance with Magma HDI.
  • Engine protection add-on covers damages to the engine due to malfunction, water damage or leakage of lubricants.
  • Loss of personal belongings add-on is protection against accidents or burglaries where you end up losing valuables such as your phone or laptop. Your insurance provider helps you out with this cover by reimbursing you for your loss.

So, having the right car insurance is like always having someone watching your back when you’re driving your vehicle. It ensures the safety of your car, passengers, and pedestrians.

Everything you need to know about general insurance

The term insurance is often used very loosely. Most people think that general insurance plans only include car, health etc. There are even misconceptions regarding the policy coverage of these plans. Read on to see what exactly general insurance stands for and the different kinds of plans which come under it.

What are the types of general insurance and their benefits?

General insurance is a contract between the insured and the insurance company for financial protection against loss, damage, theft or other liabilities that may arise. Broadly speaking, it includes all kinds of insurance except life insurance. This financial protection may be in the form of cashless services or reimbursement. Given below are some of the most popular general insurance plans available to you today.

1. Health insurance:

A health insurance policy essentially covers the costs of treatment of a medical condition or accidents. Generally, it includes medical tests, treatment for critical diseases, pre and post hospitalisation expenses etc. as mentioned in your policy wordings. You can also opt for add-on features such as maternity covers and personal accident covers to customise your plan for you and your family.

The benefits of a health insurance plan also include tax benefits under section 80D of the income tax act.

2. Motor insurance:

Whether you have a two-wheeler, a car or a truck, a motor insurance plan will offer you financial protection against loss resulting from damage, accident, theft etc. Broadly, a motor insurance policy includes-

a. Third-party insurance: This is the compensation provided by the insurer for damages caused by the insured to another person or another vehicle. Any individual getting motor insurance must have a third-party liability cover as it is mandatory by law. It can easily be purchased with the purchase of your vehicle itself.

b. Comprehensive insurance: This policy will cover damages occurring to your vehicle due to accidents, theft, natural calamities, fire etc. This will be in addition to third-party liability and will also reimburse you for theft, repairs etc.

3. Travel insurance:

Travel insurance pays for financial losses that arise during one’s travel within India or abroad. The policy might be a single trip plan which covers one trip taken within180 days of purchasing the insurance or a multi-trip plan covering multiple trips during a year. Generally, the scope of a travel plan includes reimbursement for baggage loss/delay, missed flight, medical expenditure, loss of passport etc. You can further pick a plan for individuals/families or even pick between domestic and international travel insurance based on your needs.

4. Home insurance:

Since getting your own home is a big-ticket investment, it is important to insure it. Home insurance plans financially compensate you for any damage to your home and valuables within the property due to natural and man-made disasters, fire, burglaries etc. You also have the option to get additional coverage with add-ons.

Irrespective of the kind of general insurance, the following factors need to be kept in mind before buying a policy:

 

Assess your needs: It is essential to evaluate your specific requirements instead of going only by someone else's recommendation or even a popular plan. For example, a health plan could either be an individual or a family floater policy. 

 

Check and compare the plan: This would include evaluation of the scope, premium costs, benefits offered, add-on options, the sum assured, exclusions and a plan comparison with the competition.

Read the policy wordings: There are terms and conditions to every contract, so make sure you are thorough with things like exclusions of your policy. The waiting period, i.e. the period after which you may claim treatment of certain illnesses must also be checked.

Now that you have the relevant know-how on general insurance, why delay further? Secure yourself, your loved ones and leave all your worries behind.

Everything you need to know about marine insurance

In spite of the advancement in road, air and rail transportation, the sea route remains the most preferred mode of freight for international trade purposes. The sheer magnitude of cargo at stake is enough to make anyone think twice about what measures you can take to secure your shipments.

This is where marine insurance comes in. It gives you the peace of mind you need with its extensive coverage.

What is marine insurance?

Marine insurance protects you in case of damage/ loss of cargo, ships and vessels; when a property is acquired, transferred or held in possession between the starting point up until the destination.

Why buying marine insurance is a good idea?

Consider an example. Suppose you are a seller and you put your goods on a ship. Due to bad weather or a storm at sea, there is damage to valuable goods to an extent whereby the customer at the destination refuses to accept the final goods. For no fault of yours and due to unavoidable circumstances, you would suffer a monetary loss that could even go in crores!

Thus, it is essential to buy marine insurance to get coverage for the following:

  • 1. Export or import shipments.
  • 2. Goods being transported using sea, rail, road, post or air.
  • 3. Goods being carried via coastal vessels plying between ports located within the country.
  • 4. Goods that are transported via the vessels plying along rivers.
Other Advantages

Here are some other advantages that you are entitled to with your marine insurance-

  • 1. The insured obtains additional advantage of global claim survey and settlement.
  • 2. The cover accommodates diverse situations including property damaged either/or onshore or offshore, casualty at sea, marine liability, hull damages and other needs of the insured.
  • 3. There is an option to extend the plan to include protection against extraordinary circumstances like perils at sea, strikes, pirate hijack etc.with the help of add-on covers.
  • 4. Marine insurers would be willing to provide tailor-made policies as per specific requirements and budget of the insured such as Magma HDI's marine insurance policy.
Exclusions

Marine insurance covers many situations, but the following are the exclusions:

  • 1. Normal wear and tear or leakage.
  • 2. Goods getting damaged during transportation owing to improper packaging.
  • 3. Any damages due to delays.
  • 4. Any damages caused intentionally to incur a loss and make a subsequent claim.
  • 5. Any damages due to a civil disturbance, war, strikes, riot etc.
  • 6. Any damages due to a financial difficulty such as bankruptcy or financial default of the owner of the transport vessel.

It is always a great idea to assess your unique needs before going out to purchase any insurance. However, getting a plan that is comprehensive in nature can never lead you wrong.

The Evolution of Health Insurance

Health insurance is a necessity in today's age, but the easy accessibility and wide range we enjoy today weren't always there in the past. It's safe to say that health insurance policies in India have forged their path over the years. But do you know how? Here's where we can help you with facts about the insurance you can't do without these days.

How did it begin?

Since the independence of India in 1947, our healthcare system revolved around government schemes and plans. The life insurance system that dates back to 1818 was the first of its kind for Indians. The popularity of life insurance in India was attributed to the low life expectancy and closely-knit family systems.

However, with liberalization in the early 1990s, healthcare delivery improved with an increase in disposable income. As a result, life expectancy increased to 65 years by the year 2011. The nineties also saw an influx of other things such as lifestyle diseases and consistently rising medical costs which made health insurance the invaluable commodity that it is today.

Crucial developments and current scenario

The IRDAI or Insurance Regulatory and Development Authority of India's legislation of the year 2001 is a vital milestone for health insurance in India. It opened new avenues for investment by private players in the industry. Over the years, the advancement of treatments and cashless claims enhanced the popularity of health insurance policies among buyers.

Despite all these developments, the sector is largely dominated by government-owned enterprises and its subsidiaries that account for nearly 60% of the total market share. Private health insurers are increasing their base and outreach mainly in the tier-1 and tier-2 cities with features like cashless payments and in-patient reimbursements. A major goal of health insurance is reaching all parts of the country.

 
Challenges for health insurance

Over the past two decades, the health insurance providers in India are consistently struggling to provide accessible and affordable care to the masses. It has many challenges that need critical analysis and solutions. The main challenges in this sector are:

  • Lack of awareness about the importance of health insurance. For instance, people don't realise how much difference a comprehensive health insurance can make at the time of an emergency.
  • Gap between affordability and accessibility because the rural population relies on government-based facilities as the private sector does not cater to their basic needs. 
  • Differences in service quality due to multiple levels of care delivery system. This increases the overall costs and causes quality concerns.
  • Ignorance on the part of consumers which makes them avoid getting insurance until the last minute.
  • No strong regulatory framework to standardize the healthcare delivery system.   

These are only some of the glaring issues we face in our country. Both consumers and insurance providers need to do their part so as to bridge the gap which will allow everyone to get healthcare in an easy and fair manner.

Future trends in health insurance

With the internet and other media platforms, more and more customers are beginning to understand the importance of health insurance. As a result, the number of policies sold has doubled in the last ten years.

The millennials have become a key focus for the major players due to their increasing awareness and their numbers in the workforce. Incentives such as tax benefits also encourage the working class to invest in health insurance plans.

In a nutshell, a focused approach of evolving cost, quality, and access show a promising future for healthcare insurance in India. 

Standardization of adequate health care provisions is still an aspiration which must be realized over the years.

To get the best of health insurance policies in India, Check out Magma HDI.

The truth about theft insurance

With gated communities and technologically superior security systems, theft has significantly reduced in our country; however, as with any other type of risk – it can only be minimised, not eliminated. Its consequences also are not limited to your financial losses but also includes trips to the police station, affidavits, reams of paperwork, fear and trauma, leaving you depleted in all senses of the word.

This is where theft insurance comes in. Getting financial protection for your loss sure does take a load off your mind if an unfortunate incident does take place. Read on to find out more about theft insurance and how it works.

Theft insurance

Theft insurance is essentially a plan that will cover you for any losses arising from burglary, robbery, etc. Not only does the policy cover you for the loss of valuables but also for any damage to premises, furniture, fixtures and physical assault during the attempt. Insurance providers such as Magma HDI also cover temporary security expenses so that you and your loved ones can feel safe again. Thus, you can rest assured that your insurance plan will take care of all your needs.

Important points to remember
  • It is imperative to carefully go through your policy documents to understand the coverage, terms and conditions, exclusions etc. provided to you. For example, when looking to travel extensively, some insurance companies will ask you to intimate them if the premises will remain unattended for an extended period of time.
  • The claims process for any insurance policy holds immense significance for all of us. Under a theft insurance policy though, theft and burglary are two separate events while filing your claim. While theft is a non-violent and unforceful entry into your premises, a burglary involves a forceful or violent attempt by breaking in/ tampering in order to rob you. Usually, you would need a separate cover for either peril, but nowadays insurance companies in India provide coverage for both through a single policy. 
Ideal coverage 

A common dilemma while opting for a theft insurance policy is determining how much coverage you need. An important point to remember while making this decision is that your coverage will be limited to the sum assured by you. So, if you have assets worth 20 lakh in your home and have a coverage of 5 lakh, the insurance will only cover the loss till the extent of the sum assured. To avoid getting inadequate coverage, it is important to assess the worth of all your insurable assets and look for an insurance plan that gives you coverage based on your needs.

Exclusions

There will inevitably be a few exclusions to your cover. For example, some theft insurance policies do not cover cash or cash equivalents, stocks and share certificates, agreements and title deeds. Similarly, you may need to purchase a rider to cover for precious metals such as gold, silver, etc., precious stones such as diamonds, and other art and antiquities. Thefts committed by family members, house help or employees, loss arising due to riots, terrorism and war are excluded as well.

A final tip for you is staying on top of your policy. Reassessing your coverage needs periodically, especially when adding new inventory, expensive machinery or valuables will ensure that your financial risk is minimised in case of any unforeseen incidents.

5 Reasons why you should have an Individual Personal Accident Policy

There is a false sense of security in most individuals, where one feels like they can never meet with an accident, but like as the saying goes, it is better to be safe than sorry. No one wants to experience an unfortunate incident, but whether due to your mistake or someone else’s mistake, you can meet with an accident anywhere and anytime. Although no one can control such situations, you can certainly prepare for it.

With the number of vehicles steadily rising, across the country, the possibility of a car-related tragedy also increases. In situations as such, you could be staring at high costing expenses on hospital bills, as well as a loss of income due to being bed-ridden. Having an individual accident policy will take care of all these emergency expenses.

What is a personal accident policy?

Personal accident policy offers insurance cover to policyholders in case of an accident or injury caused due to any given reason. The insurance company will reimburse the policyholder in cases of serious injuries, permanent disability, or death, accidentally caused, according to the terms and conditions of the policy. 

You can buy your personal accident insurance online as well as offline, as per your preference. 

Why should you have a personal accident policy?

There are various benefits offered by a personal accident policy, which make it necessary for you to have one, such as: 

  • Reimbursement in case of disability: If you face an accident and suffer a temporary or permanent disability, you can claim compensation from the insurance company. The company will assess the nature of the injury or disability and give you compensation as per the guidelines of the policy. This will support you and your family financially during such tough times.
  • Hospitalisation and other expenses are taken care of: All hospital bills and cost of treatment are covered under the policy. In case of death, the insurance company will pay for the repatriation, funeral, and ambulance charges. 
  • Reimbursement for modifications: If the accident has left you wheelchair-bound, then you need to modify your home or vehicle to suit your needs. Any expenses incurred for such adjustments necessitated by the mishap can be reimbursed from the insurance company. 
  • Payment of death benefit: If the mishap results in unfortunate death, then the insurance company will pay the death benefit amount, as per the policy terms and conditions, to your family members, offering them financial support.
  • Transportation of family: If you are admitted to a hospital after an accident and the hospital is more than 150 km away from your home, the insurance company will pay for the transportation costs incurred by your family.

To avail such benefits in the time of emergency having personal accident insurance online or offline is imperative for the financial well-being of your family.

Affordable Health Insurance is a reality

There is a famous saying "health is wealth," and it is indeed true in today's context. With people getting busy with their hectic life, there is a growing trend of unhealthy eating habits and sedentary lifestyle. In the pursuit of money, health has been left far behind. Now, one cannot give up on his/her career, but they certainly can opt for a health insurance policy that offers protection against unexpected medical emergencies. Health insurance is ignored by people for many reasons, and this has led to India's problem of "under-insurance." Herein, people opt for an inadequate amount or rather do not opt for any health insurance thinking that no ailment can affect them. Another reason given by people is that the premium for health insurance is very high, and they cannot afford it. 

Affordable Health Insurance – is it a reality?

The excuse that health insurance is expensive is not true. Affordable health insurance is a reality and has benefitted many families for the past few years. With the rapid integration of technology in the insurance sector, many insurance companies are now offering their services online. You can easily purchase or renew health insurance online in a few clicks. As most companies have taken their operations online, the cost of availing and renewing health insurance has gone down substantially.

If you are still unsure about the affordability of health insurance plans, here are some tips to help you select an affordable health insurance policy for yourself as well as your family:

Understand your requirements:  First of all, you need to understand yours and your family's health insurance requirements. Consider factors like the number of members, their age, existing conditions, family health history etc. This will help you understand the extent of coverage that you require. 

  • Start early: Health insurance premium against a new policy for a young person of 25 years will be much lower than for a mature person of around 50 years of age. This is due to the risk involved for the insurer. So, you must subscribe to a health insurance policy as soon as you start work, to enjoy the lowest premiums. Then gradually, keep on enhancing the coverage of your policy as your income rises. 
  • Do some research: Several online insurance marketplaces have come-up, which allows you to compare policies from different insurers easily. As these marketplaces eliminate the agent from the transaction, the cost of the policy goes down substantially. By comparing the coverage of different policies, you can reduce your premium payments significantly. 
  • Opt for a floater policy:  You can opt for a floater policy wherein one policy covers your entire family, including dependants. Instead of paying separate premiums, you only need to pay a single premium and will get insurance coverage for the whole family.
  • Tax Benefits: You can claim an income tax deduction of up to Rs. 25,000 for the health insurance premiums paid in a financial year for yourself and your family. If you pay a health insurance premium of your parents, you can claim an additional tax deduction. Thereby, you can save substantially on your income tax liabilities. 
  • Online renewal: When you renew health insurance online, through the insurance company's website or any online marketplace, you can enjoy lower premiums. As the companies do not need to pay any commissions, you can save a significant amount of money by opting to renew health insurance online.

The benefits offered by a health insurance plan are too good to be ignored just because you think health insurance is unaffordable. Do some research, and you will see that health insurance is indeed affordable and is rather a necessity for your family.

Benefits of daily cycling

In modern times, various lifestyle-related ailments such as diabetes, hypertension, depression, obesity, etc. have started affecting people from a young age. Due to 24*7 use of smartphones, unhealthy eating habits, and a lack of physical exercise, more and more people are getting affected by these lifestyle diseases. While you may have the best health insurance policy in India, you need to engage in regular physical exercise to stay fit and healthy. There are various forms of exercises that you can indulge in, but the benefits of daily cycling are too good to be ignored. 

Cycling is regarded as one of the best ways to stay away from lifestyle conditions and reduce the risks associated with a sedentary lifestyle. Additionally, it is one of the cheapest, enjoyable, and useful physical workouts. If you are still unsure about the benefits of daily cycling, here are the health benefits of regular cycling:

  • Fewer chances of injury: Cycling hardly causes any strain and can be enjoyed by people of all age groups. There are minimum chances of injuries while cycling, as compared to other forms of exercise.
  • Time-efficient: Cycling is one of the most time-efficient exercises you can engage in. Not only does it offer you several health benefits, but it can also be used as a means of transport. It will help you get rid of your inactive lifestyle and save your travelling expenses as well.
  • Easy to learn: Even if you do not know how to cycle, it will only take you a few hours to get the hang of it. There is no need for strong physical skills, and it does not need a lot of practice to learn it; it is one of the easiest exercises to learn. You can start from low-intensity mode and increase as you get used to it.
  • Boosts your stamina: Cycling engages several muscles in your body and thereby helps boost your stamina over time. It also improves your lower body strength as well as aerobic fitness. 
  • Reduces stress levels: Going for cycling in the morning helps you come closer to nature. The fresh morning air acts as stress-buster and enables you to feel relaxed and rejuvenated. 
  • Freedom from obesity: Cycling is one of the most useful workouts to help you get rid of excess fat from your body. It boosts the metabolism rate and helps build muscles. Within a few weeks of cycling, you would start witnessing a reduction in your weight; and would feel active and fit.
  • Reduces the risk of specific cancers: Research has proven that regular cycling reduces the risk of various types of cancers such as breast cancer, colon cancer, and bowel cancer.

With various health benefits on offer, cycling is undoubtedly one of the most useful forms of physical exercises available. To enjoy good health and freedom from health-related stress, it is essential that you eat a healthy diet, engage in regular physical activity, and subscribe to the best health insurance policy in India. 

Five things you should know about personal accident insurance

Financial security is a priority for any family and having health insurance is one of the first steps towards keeping your family secure during health emergencies. But, what about other emergencies which are beyond the coverage of any health insurance policy?

Zeenat, a single parent of a 6-year-old daughter, takes as many precautions for her daughter's well being as she can. She has saved enough for daughter’s future in forms of fixed deposits and mutual funds. She has also taken health insurance for both to secure against any health emergencies. The planning seems perfect for a family of two people except for a loophole, not having an accident cover that could put all in vain if something goes wrong.

According to a report by the TOI, In India alone, about 1.49 lakh people lost their lives by road accidents in 2018. Personal accident insurance is an answer to such life-threatening situations, as a family gets shattered just by the news of an accident, let alone the future consequences that might bring substantial financial burden. However, before you go for a personal accident insurance plan, here are some things that you must know:

1. What is personal accident insurance?

A personal accident insurance policy gives you a cover against accidents. It could be a road accident, a sudden fall, or any situation that leads to a disability or even death. Having personal accident insurance will save your expenses during such an emergency, and the insured amount would also take care of the loss of income that occurred during this period.

2. What does a personal accident insurance plan offer you?

Personal accident insurance generally envelops accidental death, permanent total disablement, permanent partial disablement and temporary total disablement.

But one thing that worries a person is what if the medical expense goes beyond what his policy can cover? With Magma HDI's Individual Accident Policy cover, a person can opt for Medical Expense Extension and Hospital Confinement Allowance.

3. What does the personal accident policy not cover?

It does not cover natural death due to drug addiction or alcoholism, adventurous sport, a breach of law with criminal intent, suicide-attempt, pregnancy, war, civil war, invasion, act of foreign enemies, revolution, insurrection or mutiny, pregnancy, participation in any naval, military or air force operations, curative treatments or interventions.

4. What is the need for personal accident insurance?

The need arises from the gap that health insurance and a life insurance policy will not cover. While, health insurance mainly covers the severe ailments and any other health emergencies, a life insurance policy pays compensation only in case of death. A personal accident insurance policy, on the other, is equally important for your insurance portfolio, which covers the policyholder in case of hospitalization or even in case of death due to an accident.

5. What is the ideal personal accident insurance?

The ideal personal accident insurance depends on individual exposure to situations and risks. For example, if your profession requires extensive travel, opt a plan that covers your international travel.

Go for the best personal accident insurance plan that ensures the maximum coverage and financial stability in the event of any accident.

Home Security during festive seasons

Though the home is a synonym of safety, home burglaries are common and have gone up rapidly in recent times. Festival theft is another concern, and a study shows that the highest home burglary rate in India is during festive seasons. Read on to know about five preventive steps to ensure your home is a safer haven during the festival season and after.

Hiring a security guard or a watchman

Most of the housing societies execute due diligence on the security features, including hiring trained security guards. If you are not living in one of the high-rise buildings rather a private land-based home, then a security guard is a must for you. A trustworthy watchman is a resource who works as a deterrent to burglars and ensures the complete safety of your home. Opt for a guard from professionally licensed security companies and always take a security guard that has previous security experience and is adequately verified.

Under surveillance — installing CCTVs

Technology is more of a boon than a bane for all. According to a Delhi Police report, crime reports have decreased to half after installing CCTVs in Old Delhi's Chandni Chowk Market. The same statement holds true for most of the residential colonies. Installing CCTVs at your home allows you to keep an eye on suspicious elements and prevents any potential theft. During the festive season, it is more imperative to have a security scanner that alerts you about any suspicious activity around your premises.

Lock it all when you leave

During the festival season, there is a spurt in burglary, even in locked houses. When you need to leave your home, make sure that all your windows and doors are closed and properly secured. One of the biggest mistakes people make is hiding the keys in the most obvious places, under the rug or behind the nameplate. Also, don't let burglars assume that no one is in the house. Ask neighbours or depute someone to pick the newspaper from the doorways and switch on the door lights in the night.

Bank lockers are better than home safes

There is no argument that a bank locker is always a safer place for your valuables. Banks have a robust security system to safeguard your valuables. The presence of a security guard and a high level of surveillance to monitor entry and exit in the bank's locker room add another layer of security protection to your valuables. However, if you are still keeping jewelry and valuables for the festive season at home, use electronic safes ranging from mechanical safe to the wall-mounted high-end safes.

And, consider taking a home insurance cover

Security tools and technology will help make your home secure to a certain extent, but considering the increase in home burglaries nowadays, nothing can be said with surety. A good head start would be opting for the best home insurance policy in India that safeguards your home from any loss and damage.

What are the frequently asked questions about motor insurance?

Getting motor insurance regardless of the fact that whether it is new or old, is always confusing. Technical jargons, guarantee amount, clauses, picking motor insurance company, etc. are some things which everybody does not understand, and it leads them to make wrong decisions. They all look lucrative from afar, but which is the right one.

Hence, here we have compiled a list of frequently asked questions that will help you in getting the right motor insurance for you.

Question: What does a motor insurance cover?

Motor insurance covers you against any financial burden due to damage of your insured vehicle.

Question: Does the motor insurance offer different coverage types?

Yes, different types of insurance coverage types are available such as bodily liability, comprehensive, property damage liability and uninsured and underinsured and collision. You can choose the insurance coverage type as per your needs and requirements.

Question: Is buying motor insurance mandatory?

Yes, it is mandatory to buy motor insurance though the laws of carrying insurance vary from state to state. It is recommended you visit the online website of the government transportation of your state to make sure that you got the right motor insurance.

Question: Is a motor insurance expensive?

Yes, motor insurance is relatively expensive. Though you should also consider the credit report and driving the history of your vehicle while buying insurance.

Question: What happens if I forget to pay the premium fee for my insurance policy?

You will get a warning notice from the motor insurance company. But if you forget paying a premium fee over and over again, they can either issue late charges or will cancel your policy. So, it is recommended to pay your premium fee on time.

Question: Can I change the motor insurance coverage if I want to change it?

Yes, if you want to change the motor insurance coverage then you can, but you might need to pay a cancellation fee. But if you wait till the policy maturity then you can change the coverage without extra fee.

Question: How can I get a discount on motor insurance?

Discounts are quite common when it comes to motor insurance. Different motor insurance companies offer different deals and discounts on motor insurance so you can choose the right one as per your needs and requirements.

Question: Can my gender affect the amount of the premium fee?

Yes, gender affects the premium rates of motor insurance. According to the statistics, male drivers are generally involved in more accidents. Therefore, companies offer motor insurance at a higher premium fee to males as compared to females.

Question: Can I get motor insurance even if my vehicle is more than 20 years old?

It depends upon the shape and condition of the vehicle you have. If your vehicle is not in a condition to get coverage, then it is not recommended you to get higher coverage and it does not make sense to spend a higher amount onto it.

Question: What is No Claim Bonus?

It is a discount after a claim-free year or an incentive for driving safe and avoiding accidents.

Question: What are the documents that are required to be submitted for a Motor Insurance claim?

Required documents differ from company to company but some of the most important document that would be required are: Claim form, registration copy of the vehicle, an estimate of the loss, original repair invoice and payment receipt.

Buy the best car Insurance with this Guide

Buying a car is no more a family dream as people are investing in a car in their early careers. With the increase in pollution and traffic in most of the metro cities, ditching your two-wheeler for a car would seem a better idea for a comfortable ride to the office.

We get all excited while planning to buy a new car and would end up visiting various car showrooms to extract the best bid in our budget. However, when it comes to purchasing insurance for the Car, we would hardly care to see what it actually covers and prefer policies with minimum premium.

Purchasing the correct vehicle insurance is although little tricky, we present a primary point-agenda to buy the best vehicle protection with the best car insurance price in India to make your life simpler.

What should a comprehensive car insurance plan cover? 
1. Any damage to the Car due to Natural disasters: 

Since natural calamities are not in our control, anything such as earthquake, storm, cyclone, landslide, Tsunami, etc. must be covered in your plan.

2. Any damage Due to Man-Made disasters:

Any damage caused due to a terrorist attack, a riot, strike and during the transportation of your Car should also be compensated by your insurance plan.

3. Personal Accident Cover: 

It's imperative that your Car insurance also provides for you and your family in case of an unfortunate accident resulting in partial or full disability and even death. Under a comprehensive policy you 

4. Third-Party Legal Liability:

If a third party suffers any damages during the accidents or a surrounding property gets damaged, this cover protects you against the legal liability.

What is not covered under a Motor Insurance NOT cover?
  • Driving the car under the influence of alcohol or drugs.
  • Intentional loss and damage to the vehicle.
  • If someone else is driving your car and it is damaged while being driven by that person.
  • Driving without a license.
  • Damage caused due to war, mutiny, invasion by the enemy, nuclear risk.
  • Any mechanical or electrical breakdown of the Car due to Driver's mistake or because of the condition of the vehicle.
Always pick a top-rated agency 

If it's cheap, it's compromised, hence don't get attracted by any plan that assures a full coverage under a low premium fee. In case of an emergency, the priority is getting your claim as early as possible. Go for a reputed company in the market that provides fast claim settlements along with great customer service.

Key factors to consider before purchasing Car insurance:
  • Allowance for the commute - If your Car is under repair, make sure your plan includes an allowance for the daily commute by your insurer.
  • Cover for lost car keys - If you lost your car keys or someone has broken into the lock system, you will get cover for replacing the lock.
  • Cover for hotel stay - Suppose your Car has become immobile after involving in an accident and you need to stay nearby while it is being repaired, your plan must bear the expenses of your stay in a hotel.
  • No Claim Bonus - If you haven't filed a claim during the period of your policy, you can apply for a no-claim bonus. Also, if you make only one claim, you still get to keep your NCB.
  • Repair of glass, rubber, plastic and fibre parts - If such parts of the car are damaged, you can get them repaired, and this does not affect your No Claim Bonus.
  • Lost Personal Belongings and Baggage Cover - If your Car doesn't have an anti-theft device that is approved by the Automobile Research Association of India, the insurance company gives you cover for the lost personal belongings. 
Bottom line!

While you spend so much time researching the latest model, the jazziest colours, the snazziest of safety features, also choose the best car insurance policy in India that offers you higher protection against.

Car Insurance Policy status checks simplified

Thanks to higher disposal incomes and many attractive car loans available in the market, owning a car in India is no more a luxury. You spend a good amount of money to select a model, accessories, and safety measures like gear lock and central locking for your proud possession. But, have you ever given a thought about why your car requires a valid car insurance policy? As driving in India has its own perils, the Motor Act, 1988 made it mandatory for all car owners to possess a valid car insurance policy. 

The car insurance policy not only indemnifies you in the event of an accident, damage, theft, or loss affecting your car but also offers protection in case of third-party liability. Instead of treating your car insurance policy as an expense, you must consider it as a protection.

Here are some of the most noteworthy key points that will help you to understand the benefits of having car insurance.

  • Monetary benefits of a comprehensive car insurance 

    One of the key benefits of a car insurance policy is the reimbursement in the form of financial benefits if the car meets with an accident or gets stolen.

  • Cashless repair facility

    The benefit of cashless repair facility can be availed when an accident-related repair is completed in a network garage. Protection against losses caused due to natural calamities like earthquakes and fire.

  • Protection against third-party liability and legal cases.

    A good car insurance policy provides you protection caused to a third-party, like injuries, damage to another vehicle, or death while using your vehicle.

How to select a recognized car insurance firm?

It is essential for you to know if the insurance company is registered with the Insurance Regulatory and Development Authority (IRDA). Before you plan to buy car insurance online from an insurer, validate that the company is featured in the IRDA list of authorized insurance companies.

How to check your car insurance status online?

Once you have purchased a car insurance policy, it is advisable to keep your Car Insurance details handy at all times which might be required at the time of filing an insurance claim.

If you are unsure about the status of your car insurance policy, then you can check it on the official website of the Insurance Information Bureau (IIB), which has been created by the IRDA (Insurance Regulatory and Development Authority). 

When you are performing the car insurance policy status, check on the IIB website, you must take care of the following points:

  • In case the car insurance policy has been issued recently, the details will not be available online.
  • While entering the car number, do not use spaces or any special characters.
  • Please note that data is available only for those policies, which have been issued after March 2010.
  • This option can be utilized for a maximum of 3 times by using your mobile number or email id. 

With the car insurance status checks been made simple, it is easier for you to keep track of your car insurance policy. Make sure that you renew your car insurance policy before the expiry date of the present policy to enjoy continued protection against damages. 

These essential Car Insurance tips will help you file a claim with your insurer and get it approved without any hassles. You can also buy or renew your Car Insurance online instantly as per your preference.

Car insurance premium is influenced by these factors

Having a car insured takes many brainstorming sessions in which you have to consider several factors. The premiums paid towards a car insurance policy can be a wrecking ball to your hard-earned money. The requirement for purchasing a suitable policy is something that can't be overlooked. An ideal approach to manage this undesirable circumstance is to know about significant components that influence the vehicle insurance premium. The adequate knowledge of these determinants will enable you to have decent policy terms from the best car insurance company in India with the same advantages and deductibles. Here are some of the factors that directly affect the premium rates,

In the end, one must ensure that paying for car insurance is an essential part of owning a car. Hence, try to come with a pivotal decision that would lower your premium at any cost.

Choosing the right health insurance for our family

Health problems can occur suddenly and without preamble, and it can often mess up your financial planning with unexpected expenses. It has made health insurance important for every family to help decrease any unplanned financial burden. Though most of the companies provide their employees with health insurance coverage, it is not sufficient and can also exclude many ailments. Emergencies do not see our feasibility; hence, a reckless attitude towards health could put you in financial risk. Also, if we are paying for a thing, we tend to be very careful about the benefits we would be receiving.

However, it is not just about taking a health insurance plan; instead, it is about choosing the right health plan for your family to get the maximum benefits at the time of emergency. It is essential that you understand various factors that will help you choose the right health insurance policy.  Here are a few essential things you should know while deciding to buy a health insurance plan.

What kind of health plan suits you?

Health insurance plans can be indemnity plans and defined benefit plans. The defined benefit plan pays a lump sum amount for treatment without going into the detailed breakup of hospital expenses. On the other hand, an indemnity plan reimburses the hospital expenses. It is recommended that your health insurance portfolio should have indemnity plans and additional critical illness plans which are defined benefit plans. 

Which indemnity cover suits you: Individual health insurance or family floater?

If you want extensive coverage, individual health insurance is the option. In this type, you will buy separate plans for each member of the family, and premium for each policy will be based on the age, and respective sum assured. However, if you are a family person, it is recommended that you buy a family floater (FF) plan to cover your whole family. Then you will not need to buy separate policies for each family member. The premium for family floater plans is also less than individual plans, and there is a higher sum assured. The most important factor is that anyone can use the amount for medical treatment. Also, it is possible to cover parents if they are senior citizens with a slightly higher premium.

Other important considerations while choosing health insurance for your family:
  • Select the sum insured based on your age and marital status, because the risk is less when you are younger, and it climbs as you grow older.
  • Select a plan that has a minimum waiting period for pre-existing health conditions.
  • Select a plan that allows you to renew at 75 or 80 years of age.
  • Consider the range of hospitals that the insurer is affiliated with.
  • Compare premiums and plans from more than one insurer and remember to read the customer reviews.
  • Read between the lines to understand the exclusions.

Insurance does not guarantee good health, but it will help you in taking care of your loved ones the best way possible during health emergencies. 

Easy ways to choose affordable health insurance

Medical facilities in India have now achieved the status of being “world-class,” allowing the people of country with access to best treatment within the country. This improvement in facilities has come along with a substantial increase in medical expenses. As a result, purchasing health insurance in India has become a necessity because covering medical expenses from your own pocket has become virtually impossible. In fact, if your parents are in their older years, you must opt for health insurance in India for parents to allow them access to best-in-class treatment for their ailments, without jeopardising their financial future. Due to the efforts of the Government and leading insurance companies, awareness regarding health insurance has improved significantly in India.

With multiple insurance companies operating in India and offering various health insurance plans, it is certainly possible that you are confused regarding the best option. If you are unsure regarding the best policy for you, then read on to know about the easy ways to choose affordable health insurance:

  • Understand your requirement: Firstly, understand the extent of coverage you require. This will depend on numerous factors like your age, family size, premium affordability, and future health requirements. Moreover, if your parents do not have a health cover, then you must get health insurance in India for parents. Also, there are various additional covers available, which can come handy in case of certain conditions.
  • Coverage for ailments: Nowadays, there are several health insurance policies that offer coverage for specific critical illnesses. You need to ascertain the type of diseases you wish to cover under your health insurance policy before opting for an option.
  • Coverage for pre-existing ailments: Different health insurance policies offer different waiting period for pre-existing illnesses. You need to identify a plan that has a minimum waiting period. This will save you from unexpected hospitalisation expenses in case you need treatment for the ailment before the completion of the waiting period.
  • Claim-settlement ratio: This ratio signifies the percentage of claims that the insurer settles out of every 100 claims received. You need to opt for an insurer with the highest claim settlement ratio so that your claim would not be rejected for any frivolous reason.
  • Cashless hospitalisation: Different insurance companies have agreements with different TPAs (Third Party Administrators). These different TPAs have different hospitals on their panel. You should opt for an insurer who offers maximum hospitals for cashless treatment. Moreover, the hospitals near your home should be covered under the panel of the TPA, as it would convenient for you in the need of emergency.
  • Compare the premiums: Last but not the least, make it a point to compare the premiums of different insurance companies. For the same extent of coverage, different insurance companies charge different premiums. Nevertheless, there are various plans that offer cheaper premium but also have reduced coverage. There are various online platforms where you can easily compare various health insurance plans, their coverage, and other essential parameters.

The importance of choosing the right health insurance plan cannot be neglected as it is directly associated with your health. So, never rush but always make an informed decision after carefully comparing various crucial factors affecting your health plan.

Events when your Marine Cargo insurance claim gets rejected

With the continuous rise in international trade, the volume of marine cargo is also increasing. Marine cargo has always been and will be an important component of international trade. With more and more businesses opting to transport their goods through marine cargo, the market is on the rise for shipping companies. This increase in business also increases the importance of having a comprehensive marine cargo insurance policy.

Irrespective of the fact how simple you might think a marine cargo insurance policy is, several claims get rejected every year due to one reason or another. You must, therefore, immediately take the necessary steps to ensure that your insurance claim does not meet the same fate.

Here is a list of the events when your marine cargo insurance claim can get rejected and how you can avoid them.

You must therefore carefully assess your needs, discuss them with your marine insurance company and only then subscribe to a comprehensive marine cargo insurance policy that caters to all your requirements. 

Tips for a homeowner facing a fire or smoke damage

Disasters have many faces and can strike anytime, anywhere; they can be seen in the form of quakes, floods, gas leaks, explosions, etc. and one of the most commonly known faces of disaster is fire. Damage felt after a partial or full-blown fire mishap is quite painful and nearly unrecoverable. However, if you have your house insured with ironclad insurance from a well-reputed fire insurance company, then your hassles can be reduced to a minimum.

A fire insurance policy plays an essential role in dealing with the losses and damages incurred due to fire. It is highly recommended to purchase fire insurance to safeguard your homes from any future calamity that a sudden fire or smoke can cause.

Here are some of the tips you can follow if you face damage from fire or smoke in your homes.

First-time car insurance buyer's guide

Buying your first car can be a little overwhelming. You work persistently and save your hard-earned money aside to buy the vehicle of your choice. However, keeping your vehicle safe and secure is a necessary next step after your purchase. Accidents occur anytime and anywhere. Having a comprehensive car insurance policy to back up those damages is a wise decision to make.

These days, you may buy a car insurance policy online or by contacting a service agent at your convenience and get your vehicle insured. With a sound knowledge of car insurance policies, you can optimize your purchase and savour great benefits. Read along to have a better grasp of your first-time insurance purchase.

Purpose of Car Insurance

'Use it or lose it' is a common motto on which car insurance policy runs; to benefit from it, you need to pay a yearly premium. On the off chance that you are lucky enough not to have gone through a severe road mishap, you lose the premium sum paid for insurance. Then again, you get a No Claim Bonus, which is a quite significant sum beginning from 20% of the premium in the first year to 50% in the sixth, which is the reason why you shouldn't go for minor harms claim.

Different Covers under Policy Terms

A well-framed car insurance policy covers the damages due to natural disasters like earthquakes, floods, storms, typhoons, etc. Secondly, it includes the loss incurred due to manual disturbances like riots, theft, terrorist attacks, fires, etc. Thirdly, you as the insured can access the personal accident cover for your family if you die or suffer disability post-collision or mishap. Some company even offers benefits to co-passengers at the time of the accident. Your insurance policy covers the third-party liabilities like if you accidentally damage a third person's car or he dies of injuries due to collision, your insurer will protect you from legal repercussions.

Additional Benefits and Covers

One of the pluses of having a comprehensive car insurance policy is that you get various additional perks. It may raise the premium amounts a bit, but the level of your car's safety is maximized. Some of the add-ons can be;

  • Windshield or car glass cover 
  • Accident cover for a paid driver or unknown passenger
  • Depreciation waiver
  • Personal belongings damage/theft cover
Hiring an Insurance Advisor

During the brainstorming sessions of buying your first auto insurance, it is natural to get perplexed with different coverage benefits. A simple way to tackle that confusion is to get in touch with an insurance agent who is well versed with different company's policy premiums and covers. He can advise you along the way to look over your shortlisted insurers by comparing their proposed rates. He may also identify premium discounts for your first-time policy purchase.

Going for a comprehensive car insurance policy is prudent. It gives a well-rounded cover for your car. So, it's highly advisable to get in touch with your financial experts and buy a car insurance plan today.

Hazards of shipping goods by the sea & how marine insurance can help

Ocean shipping is one of the most cost-effective means to ship out your goods to international borders. If a business acquires large bulks of orders from foreign customers wherein there are no quick delivery protocols, then shipping goods by the sea is the most viable option. However, there are some demerits attached to this practical advantage. Shipping goods via sea or ocean floor depends highly on factors like; weather, human-error, technical issues, and etc.

The hazards of not comprehending such factors might lead to disasters or accidents in the ocean, which further adds monumental loss to both business owners and the environment. This can be easily averted if you plan and get hold of proper marine insurance to combat the risks of shipping. Some of the better-known dangers related to sea shipping and how insurance can help tackle them includes;

  • The occurrence of natural calamities - Perils never comes knocking on doors; they strike on decks without a single warning. Thunderous sea-storms, cyclones or tsunamis can destroy well set stocks and lives of those sailing on carrier ships. We cannot challenge the force of nature but what we can do is opt for Marine insurance online to cover the losses, injuries, or damage caused during such natural disasters.
  • Human Errors - There are certain dangers caused by man that could lead to a disastrous situation. Having untrained ship sailors or workers who load and unload goods with negligence and carelessness might create rooms for few accidents to occur in transit.
    A reliable shield in the form of marine insurance to handle the mismanagement of shipping goods by workers would be a great help in such situations.
  • Geographical Hazards - Apart from natural distress signs, there are other forms of dangers present at sea in the name of geography. Try remembering Titanic, an unsinkable ship that sank nevertheless by hitting a massive iceberg. Big cargo ships going through narrow canals, icebergs, rocky shores or shallow coral reefs can get caught on sides or bottom, hence creating unimagined losses.
    Mitigating such losses by having a rational marine insurance plan is one way, and another way is to have the ship properly tested for such hazards and assign a well trained, professional staff for commandeering the vessel.
  • Technological Issues - Such issues are more or less related to the ship's structure, engineering equipment, navigational tools, or motor engines. If the boat starts leaking oil in the ocean or one of the propellers is jammed due to long years of service, it could sustain significant damage to the goods on board.
    To avoid such substantial financial losses; having a well-planned marine policy that can cover the ship's outer and inner structure after a thorough inspection is the right way to go.

Businesses work for profit and if your business requires delivering goods via sea or ocean, then why not keep yourself financially protected with a Marine Insurance cover and keep the profits intact.

How can we keep our bike insured while relocating?

Whether due to work-related tasks or personal matters, relocating has become a way of life. It is no secret that relocation to a new city is full of various hassles and can turn out to be a stressful experience. While there are multiple aspects that you need to contemplate while moving to a new city, one crucial aspect you should pay attention to is ensuring the safe relocation of your two-wheeler. In the hustle and bustle of relocation, it is very easy for you to overlook an important aspect related to the relocation of your two-wheeler and that is to keep it insured with the best two-wheeler insurance in India during, as well as after the relocation process is complete.

Of course, you love your two-wheeler and would want the best two-wheeler insurance in India, but when it comes to relocating it to a new city, you can be caught unprepared. If you are unaware of the various important factors related to your two-wheeler insurance policy that must be taken care of during relocation, then here is all the information you need: 

 
  • 1. Update your address: First and foremost, you must inform your insurance company regarding the impending move and apply for an update of your address. Your mailing address serves as an important channel of communication between you and your insurer. By updating your address in the company records, you can avoid many issues later on when you need to submit a claim.
  • 2. Re-register your two-wheeler: If you are relocating for more than one year or permanently, it is advisable to re-register your vehicle to get a local registration number. For this, you need to obtain a No Objection Certificate (NOC) from your previous road transport office. Subsequently, notify your insurance company regarding this change through official channels, and you will have no issues later on while making a claim.
  • 3. Obtain NOC from Police: You must also obtain an NOC from your local police station as well as traffic police. This is to ensure that no challans or accident cases are pending against the vehicle. Obtaining these NOCs will guarantee that you do not face any problems in the new location. 
  • 4. Check Network of Cashless Garages: You can contact your insurance company regarding the availability of cashless garages in your new city. This will allow you to get any repair done on a cashless basis; otherwise, you will have to pay for the expenses from your pocket and later on, file a reimbursement claim.
  • 5. Upgrade your policy: Different cities can have different traffic situations, and this might prompt you to add or remove any cover from your insurance. If you feel the need to do so, get in touch with your insurance company and seek guidance on how to complete this process. Moreover, based on the zonal risk involved, the insurance company may increase or reduce your premium as well.
  • 6. No Claim Bonus: Do not worry about the No Claim Bonus (NCB) that you have accumulated against your two-wheeler insurance in India. It will follow you wherever you go. NCB is offered to a driver, not to the vehicle, so even if you were to purchase a new two-wheeler or transfer to a new insurer, your NCB would stay intact. 

So, keep these points in mind while relocating and enjoy continued insurance coverage against your two-wheeler without any hassles.

How to choose your health insurance company wisely?

Humans have the most precious gift from God in the name of health, and we ought to do our utmost to sustain the benefits of that gift for a healthy and happy life. Eating healthy, choosing your living habits are all counted measures, which you take on a personal level daily. However, there is one more step taken for the long-term benefit of your healthy life, and it is getting health insurance.

Take a step back and think about it, you plan to have a house, baby, manage school fees, bank accounts, and even design your dream wedding before finding the right match. Similarly, covering your health via a good insurance company should be a well-thought priority. Many insurance companies in India have tailored essential health plans, which meet your needs adequately with reasonable premiums and added benefits.

Finding the best healthcare insurance company for you, your parents and kids in India is not easy. It takes good hours of discussions, debates, and comparisons to come up with the best possible choice. Here are a few relevant pointers for you to consider while choosing your health insurance firm;

  • Listing the available reputed Insurer – Selecting the right Insurance Company is as important as the policy itself. Out of those available options, you have to shortlist and select the ones with good brand value or reputation along with plentitudes of customer satisfaction.
  • Comparison Among the top Contenders Is Must – A significant step before you buy your houses or smartphones is comparing the prices, quality, long term returns, etc. Similarly, before investing your hard-earned money in a health insurance policy from an insurance company, you must compare certain aspects like premium rates, coverage values, and optional benefits.
  • Coverage, Premium Benefits are Best Bidders - The dominating factors of deciding any insurance plan is that of coverage and premiums. So, it is highly suggestive for you to go through the insurance documents carefully and make a decision, which gives you maximum benefits and coverage as an insured party.
  • Claim Settlement Ratio - This goes without saying that if a health insurance company has an excellent claim settlement ratio, then you have a bright chance of getting your medical claims on time. Your job is to understand in-depth how the company conducts and manages the claim settlements to avoid any delays or refusals, when in need.
  • Having a Well Maintained Hospital Network - Many healthcare companies maintain a pool of top private and public hospitals for cashless medical treatments, so that their customers would not worry about spending their own money and focus on getting their health back on track.
  • 24x7 Customer Support System – It is imperative to know if the insurer provides excellent 24x7 customer support. Many health companies claim to provide seamless and trouble-free hospitalization and claim settlement, however, check their social media pages, Internet reviews, independent insurance websites, or ask for references before finalizing.

Take these pointers by heart and start searching for the best health insurance company for your family as no matter the levels of success you achieve in life, health has and should always come first.

How to find the best personal accident insurance plans for you?

Optimism is good but it doesn’t mean that we don’t prepare ourselves for the unforeseen circumstances thinking “it will not happen to us”. Accidents are as unpredictable as anything, we can take measures to face the minimum damage but we cannot avoid a sudden fall for eg. wearing a helmet while riding a bike is a precautionary measure but if you fall and get yourself hurt, you might save your head but what about the knee?

A personal accident insurance cover ensures that you will be financially protected against any such mishaps but the most suitable or the best personal accident policy for you would be the one that takes care of your head as well as your knee which means it gives you full coverage.

Apart from this, keep an eye on the percentage of the promised pay-out. For example: In case, if someone gets highly injured during an accident which leads to amputation of a body part then claim towards the insurance policy might be restricted to 50% of the total sum assured. So, don’t forget to read every clause of the policy before signing it.The same is true here while choosing the best personal accident policy in India, don’t forget to read the policy lingo, jargons and the clauses word by word carefully

Key factors to consider while choosing the best personal accident policy in India includes!!!

Plan type: First of all, you need to decide the insurance policy type that you want to purchase. You can choose any plan from an individual plan to a family accident plan as per your needs and requirements. If your family is financially dependent on you then safeguarding your family against accident is always a good option. 

Premium: Premium is another factor that you need to consider while choosing the right accidental insurance for you. Of course, everyone wants to get higher coverage while paying a lower amount of premium fees. Choose the one which has an appropriate balance between the premium charged and the coverage. You should never choose minimal coverage insurance just because of the low-cost premium charges. Consider your needs, read out the policy and then make the right choice.

Policy coverage: The higher the coverage, the safer you will feel. So, you should choose a wide accident coverage. Because such policies provide coverage against any kind of accident and disability while basic insurance coverage covers death caused by an accident.

Add Ons: Several add-ons are present there offering enhanced protection on your chosen policy. Think about what add- on might come as useful and then choose the right rider plan for you. Though the add-on services change from one policy to another policy, offering you the choice to choose from the right option.

The claim settlement process: You should always choose a policy with an easy and hassle-free claim settlement process. What’s the benefit of paying premiums if you are not able to claim when you are in need. While choosing a policy, read the claiming method carefully. Generally, in all the policies, you will get a 30 day of the claim period. During this period, it is necessary to intimate the insurer regarding any loss caused by accident. 

Bottom line!!!

Choose the best personal accident policy in India that offers you higher protection against any loss caused by an accident with minimal hassle. 

The rising need for health insurance in India

There has been an exponential increase in the number of people opting for health insurances across India in recent years. The top reason is definitely not aggressive advertising by the Insurance Firms, but the health and medical costs that have dramatically risen lately. With much needed financial backup during the critical medical emergencies, health insurances do play an important role in helping you and your family not getting burdened by medical expenses.

Illnesses bring bad times, and an additional financial burden along with it. The rising medical treatment cost, every year, is one of the top reasons why health insurances become somewhat like a necessity for every average earning person.

Kusum, a single earning mother of two sons, was leading a happy life and was awarded twice as the employee of the year. However, medical emergencies come unannounced. Life took a big turn when her father was admitted to the hospital for chest pain. Her father needed to undergo heart surgery, which not only for him but for the whole family were some of the stressful days of their lives. The surgery went well but left behind a huge dent on her father’s retirement savings and a lot of her savings too. Luckily her family had these savings and did not compromise on the medical treatment plan, but the incident did make Kusum learn a valuable lesson. It was time for her now, to understand Health insurances better and ensure that her whole family is fully insured in order to prevent herself from stressful financial aftermath.

As per the WHO statistics, about 70% of the hospitalization in urban India put the consumers in crippling medical distress as they blow up their entire income on healthcare.

Health insurances serve a better way to tackle such health emergencies with a range of insurance plans covering illnesses, accidents and surgical ailments, safeguarding the life of insured a bit easy after the medial process.

How are we helpful?

MAGMA HDI’s OneHealth insurance policies help you to access a whole range of insurance plans which you choose as per your personal needs or family size. With the benefits of cashless hospitalization over 4,100 hospitals, it helps in providing insured covers over accidents and critical ailments. Providing 24x7 claim assistance, hospitalization costs, cashless options, and keeps the insured and the family into financial ease. 

Though Kusum is dealing with a financial crunch and has to give away the dream of a world tour, but she is happy to have adequate family health insurance, putting financial distress at bay.
She might have learned in a harder way, but you can learn from her life incident and choose the best health insurance in India for the parents and yourself.

Health insurance is not a luxury but a necessity. Be a prudent individual by planning the best-fit health insurance and lead a much secure and happy life.

Why investment in health insurance at a young age is beneficial? 

Life is an enigma; it has countless possibilities with many struggles. The uncertainty of one's life is what makes it worthwhile and horrifying at the same time. Some investments made at the correct time could bear fruitful results for future; like opting a well-rounded health insurance policy for you and your family. Health insurance in today's time is not a luxury but a vital necessity given the rising healthcare costs and out of the world lifestyle choices by today's millennial.

Experienced financial advisors highly recommend buying a health plan in the early stages of life as premiums on health insurance increase with one's age. The premium criterion is based on the health history, age, lifestyle etc. of the insured candidate.

Here are the reasons to testify why do you have to take it now at the peak of your health?

Early age investment means full benefits – Opting for a health plan at a young age as early you start working will provide maximum coverage for your health scares. It also makes for a smart financial decision because of lowest possible premimum paid by you.

Poor Lifestyle Choices is on the Rise – You don't need to be 60 to require medical coverage. The laid back lifestyle has prompted entry to life-threatening illnesses like cancer, tumours and threats to the heart, brain, lungs. Hence, it is crucial to safeguard your health continually. Besides this, medical policies offer yearly checks ups to encourage health awareness.

Waiting period for the cover – There are specific listed ailments such as hernia, Cataract, ENT disorder for which there is a waiting period of one to two years before you get them covered. So starting early is always a more comprehensive option. 

Hectic work-related travel – The corporate worklife demands your time and extensive travel. A healthcare plan that covers both domestic and International medical emergencies along with well suited International medical benefits is yet again a very sensible choice.

The policy covering pre and post Hospital charges – Mainstream medical expenses, the cost of OPD (out-patient department), diagnostic tests have likewise ascended as of late which has made it considerably imperative for one to invest in healthcare policy. Your healthcare plan covers not just surgical or any other hospitalization costs but also the expenses brought forward via OPD and miscellaneous tests before and after a fixed time as set in the policy.

Rebate on Income Tax – Another merit of investing in a good healthcare plan is that the insured is eligible for tax exemption under section 80D of the income tax act on the premium paid for the health insurance policy.

So don’t let this crucial decision of your health take a back seat and invest in health insurance at a young age. In adition to it, when you buy a health insurance policy at an early age, you receive the benefit of lifetime renewability. You can renew health insurance online and enjoy the extended coverage for a long time.

The Five Best Health Insurance YouTube Videos

A health insurance policy is meant to save you from the financial impact of a sudden illness, accidental injuries, and critical diseases. It also works as a legal contract between you and the health insurance provider to bear the costs of hospitalization, doctor’s fee, and other medical expenses.

But, there are many unique provisions of general insurance in India that can be difficult for a layperson to grasp. But thanks to the internet, it's simpler now to understand many confusing concepts.

You can explore and browse through YouTube videos that lucidly explain every important term at your own convenience.

If you're left wondering which videos to watch, here are our top five picks:

1. https://www.youtube.com/watch?v=W4ZwxbqrO-I

This is a video from Indianmoney.com, where they explain the best methods to find a suitable health insurance plan. The video tells you how to look for the maximum coverage on your insurance policy and how add-ons can help you in the future.

They also inform you about other important things like clarifying with your insurer about coverage for certain pre-existing diseases when taking a policy with a lesser waiting period to ensure you go in completely informed while buying your first policy.

2. https://www.youtube.com/watch?v=X86nlVV6ERE

This link from My Insurance Club talks about the different types of health insurance policies available to us. It broadly divides all health insurance policies into two and then further talks about plans specific to your needs such as critical illness plans.

The video explains the type of policies with the help of examples that relate to real-life scenarios.

3. https://www.youtube.com/watch?v=DBTmNm8D-84

This video from Consumer Reports explains the costs related to health insurance. Here, they explain deductibles, premiums and out-of-pocket maximums which are applicable to various health insurance plans.

You must have read or heard about these terms with regard to medical insurance policies. In this video, you can understand them better with in-depth explanations and visuals. It helps you to make better sense of health insurance in India and how your plan helps you.

4. https://www.youtube.com/watch?v=9H-vsFU_b_Q

This is a YouTube video from Consumer Reports which is a quick guide to picking the right health insurance for you. The video tells you factors to look for while looking for health insurance. These may include services such as OPD or even ambulance fees. 

5. https://www.youtube.com/watch?v=zZAypkw6W-g

This video from My Insurance Club talks about the major benefits of buying health insurance. These include cashless services, hospitalisation coverage etc. Check out this video to make sure that you are making the best of your plan.

These are some of the best YouTube videos related to various concepts of health insurance. Go through them to know your options better when choosing a plan for you and your family. 

5 Things about Health Insurance Your Kid Should Know

Given the problems we still face as adults today, educating your kids about being responsible consumers is always a great idea. If you prepare your child with good planning skills now, they’ll be better prepared to face financial challenges in their adulthood.

So, here are some facts about health insurance policies for families that you can use to help your child understand what health insurance truly stands for.

1. Health insurance is essential for everyone

Who could need health insurance? The answer is every individual on this planet. Hence, it is extremely important for your child to know that the benefit of health insurance is invaluable at any stage of your life. No matter what your age is, the future remains unpredictable. This is an important lesson in itself which must be impressed upon your child.

2. The types of health insurance

Getting health insurance should always be an informed decision. In order for that to happen, one must be aware of the options available to them. These options could range from individual and family floater plans to special covers available such as critical illness and maternity care. The idea is to familiarise your child with these for when they do have to make the choice for themselves.

3. The plan can be updated with needs

When it comes to health insurance, many people tend to set it and forget it. And some think that the plan is set in stone - once you've bought it, you're stuck with it. But that's not true. It's important to teach your child that they can and should customise the policy according to their evolving needs. These may include risks that come with age or including your new family in the plan.

4. The importance of reading the policy wordings

Before signing up for any kind of insurance, you must be familiar with what all you are getting with it. No one likes to go through heavy and technical information but it helps you make informed decisions later. So it's important that you encourage your child not to ignore the policy wordings as it'd tell them about their policy's coverage as well as terms and conditions.

5. Health insurance is a necessary expense

In a world with rising expenses, how is one to determine what is worth investing in? Teach your child that health insurance might seem expensive while purchasing but helps you save more than that in the long run. With the rising cost of medical care, having health insurance would be even more important in the future.

Before your child grows up, it is crucial to prepare them with the best knowledge and resources. Health insurance is one of the most significant things you can teach your child about to ensure a safer future for them.

How motor insurance add-on covers can benefit you

Having a basic third-party insurance is a must as per the law, however, it only covers the risk of harm or damage to a third party, leaving you high and dry in the event of an accident. So, if you love your ride and your peace of mind, you need to go beyond the basics with a comprehensive motor insurance. Not only does it cover you and your car, but also offers an array of add-ons to truly protect your car.

What are add-ons?

Just as you get to choose from a range of toppings for your pizza to make it better, you can pick and choose from a multitude of add-on benefits made available to you by motor insurance companies in India. It offers additional coverage in return for a little extra premium. Here are some great choices to help you build your ideal plan.

1. Engine protection: If you live in an area prone to flooding, consider getting an engine protection add-on cover that allows you to get your engine repaired or replaced in case of water ingress. This benefit also applies to instances of leakage that could eventually harm your engine. Your insurance provider will cover the costs of repairs or replacements as long as they fall under coverage mentioned in the policy wordings.

2. NCB retention:  You take extra care of your car and even bear small costs yourself to save your NCB. Imagine after 4-5 years of carefully increasing the discount percentage, a small accident compels you to make a claim. You'll lose all the time and effort you had put into increasing your NCB because of a small mistake. This is where the NCB retention add on comes in which helps you protect your NCB even after you make a claim.

3. Zero depreciation: The depreciated value of your car refers to the regular wear and tear that decreases the value of your vehicle. In fact, even if you ensure not a single scratch comes to your car, it'll still lose value with time. So when you make a claim, it'll be settled keeping the reduced value of the parts in mind. Well, unless you have zero depreciation add on that helps you retain the value of your car even with time. This means you get the complete coverage for your claim with no out-of-pocket expenses.

4. Road-side assistance: If you fear anything going wrong on the roads such as a flat tire, dead battery etc., this add-on guarantees you assistance on the spot and is covered by your insurance provider. You can even get coverage against additional circumstances such as overnight expense coverage in case your car breaks down with Magma HDI's additional road-side assistance cover.

5. Invoice value: In the event of total loss, constructive total loss or theft of the insured vehicle, your insurance provider will pay the invoice value or even replace your vehicle with a new one if you opt for this cover. It will also apply to additional charges that may come with your vehicle such as customs duty, registration charges etc.

6. Key replacements: Losing your car key is probably one of the most common car mishaps. With this add-on, get reimbursed for getting a duplicate key or replacing your car lockset in case of a burglary.

7. Loss of personal belongings: In the event of an accident or burglary, you undergo tremendous amounts of stress as you can never fully recover the belongings. However, with this cover, you can put your mind at ease as it can reimburse the cost of your valuable belongings such as your laptop, phone etc.

8. Inconvenience allowance: Motor insurance provides you with financial coverage in case of accidents or any other damages. Inconvenience allowance is a daily cash benefit that you are entitled to if you file a valid own damage claim. It can go for as long as ten days to cover all the repairs that your insured vehicle needs. Thus, leaving you prepared for any unforeseen damages no matter how big they are.

The key is to identify your needs and choose the add-on benefits accordingly while buying/renewing your insurance. Most of these add-on covers come at a nominal charge but are well worth the extra buck. For these add-on covers and much more, have a look here at what Magma HDI has to offer.

5 Best riding destination in Mumbai

With the rain slowly subsiding and the roads getting clearer, Mumbaikars can finally get on their bike for a nice, pleasant ride. Now, you can finally say goodbye to the cloud-laden sky, dust off your bike, and hit the road for some hot cutting chai as you delve into the sceneries that your trip is going to offer.So without further ado, let’s look at the five best riding destinations in Mumbai. However, before you set out on your ride, make sure that you have access to the best two-wheeler insurance in India so that you can stay out of legal trouble.

1. Durshet

Durshet is located 64 kilometers from Mumbai and is known for its jungle safari and water sports. It’s hidden well in the laps of the Sahyadri mountain range and is covered in lush greenery. While you are here, you can take a dip into the shimmering cold water of the Amba river to refresh your senses. If you are someone who finds pleasure in visiting holy sites, then there are several temples around for a good morning walk that will fill you with a sense of devotion — the astounding nature only adds up to the serenity of this place.

2. Mulshi Dam

This dam is located 127 kilometers from Mumbai and is known for its several forts. It is a perfect place to get your camera out and click some amazing pictures that will decorate your gallery. The dam, which is constructed on the Mila river, works as a hydroelectric plant. The monsoon is particularly a good time to visit this place as you can see the river at its full flow while the mist fills the atmosphere, mesmerizing you with its beauty.

3. Malshej Ghat

Located serenely in the Sahyadri range, the Malshej Ghat is located at a distance of 154 kilometers from Mumbai. A bike ride here will offer you the naturally decorated view of lakes and valleys. It has some unique flowers that will make you take your camera, and perhaps never put it back. During the rainy season, you can even spot a few flamingoes perching, feeding themselves. It is a must-visit if you are into trekking, bird-watching, and hiking.

4. Vihigaon Waterfalls

The Vihigaon waterfall is located at a distance of 115 kilometers from Mumbai city. It is known for having the highest peak in Maharashtra — the Kalsubai. It is hidden in the greenery and can offer you some great treks that have some mesmerizing views. You can dive deep into the calmness which this place offers, which makes for an ideal spot for having a picnic with your friends and family. On top of everything, the waterfall offers a great view. It is a perfect escape from the hustle and bustle of city life.

5. Thoseghar Falls

Thoseghar Falls is located at a distance of 230 kilometers from Mumbai, which makes it a great place for bike rides, as you will be spending enough time on the road. The place receives abundant rainfall, and during monsoon, the waterfalls gush at high speed which makes it a pleasant sight. You can either sit around the lake or take a dip in it or merely gaze — there’s always enough to do at this place. With so many places to go around all you have to do is top up you fuel tank and hit the road. However, make sure that you get the best two-wheeler insurance in India so that safety becomes a top priority.

Drive Safely _ Your family needs you

Driving is an adventure! You hold the steering wheel, buckle your seatbelt, get on the road, and roar your way through. The experience is even better on the highway where you have the chance to speed up. However, when on the road, one must watch out while speeding — as the popular saying goes: speed thrills, but kills! Driving safely is essential for many reasons. First and foremost, it is for your safety — you have to get back home to safety, a home where your family waits for you. Besides, driving is just not about trying not to overspeed to avoid accidents; it is also about having your car papers (insurance and registration) right so that you do not land into any legal trouble. You can start with getting your documents in proper place as it is mandatory to have registration and car insurance in India) Here, we will look at a few reasons why you should consider driving more safely than ever.

Driving safe is eco-friendly

Driving an engine which lets out smoke, in the first place, is not suitable for the environment. However, more often than not, it is unavoidable. So if you do not want to leave large carbon footprints behind you, the best you can do is drive safely, economically — making sure that you use less fuel which also cuts down on carbon emissions. When you are driving carefully in economy mode, you will use less fuel, which indeed is good for the environment in the long run.

Financial gain and safety

Besides the fact that safe driving cuts down on fuel usage, it also helps you save money on your car insurance. If you have not made a single claim during your term of your car insurance in India, then you end up paying less money on your insurance premiums. You will also be earning more with the No Claim Bonus (NCB) on your car insurance if you do not meet with an accident within your insurance term.Another significant part of driving safe is that you will avoid any road accidents. According to a report, more than 1,50,000 people are killed annually in road accidents every year. The best you can do to avoid such circumstances is drive safely.

Sets a good example

If you drive safely, you also set an excellent example for others. For example, if you have a teenage child, then you will want them to drive safe too. If you explain to them the importance of driving safely and practice it on the road yourself, then it is highly likely that your child will learn from you and follow your footsteps. By looking at you, young drivers can be ‘peer pressured’ into driving safely, and this will be good for everyone. With so many reasons to drive safely, it is crucial that you make a safety note for your car as well. It becomes important that you get good car insurance in India. Magma HDI car insurance comes with numerous features that make it a popular choice for car owners. With a Magma HDI insurance, you get a personal accident cover and access to additional legal liabilities. Besides, you get access to other features such as access to anti-theft devices, no claim bonus, and a discount on your insurance premiums, among others.

Is Riding a Two Wheeler Easy

For a lot of us, learning how to ride a two-wheeler involved tripping and falling, messing up the gears, and what not! Initially, it required someone to sit behind us to make sure that we do not accelerate much and that the bike does not go astray. The day you realized that you learned to ride was the day when you kissed freedom. The feeling was new, enthralling. A single, gentle twist at the accelerator could send you roaring. Learning how to ride can be challenging. However, before you begin your learning endeavors, it is essential to make sure that you have got your bike insurance in place. Having two-wheeler insurance online in India can save you much trouble as you maneuver your way with your first bike, trying to master its control. Here, we will look at a few hacks for new two-wheeler learners so that their learning curve is smooth and hassle-free.

Don’t put weight on the handle

It is easy to assume that a tight grip on the handle will make riding more comfortable, but it is not quite so. When you have a tight grip on the handle, it becomes hard to steer the bike. The trick here is to have a loose grip on the bike’s handle. Most of the time, you don’t even have to turn the handle. When you are cruising at a moderate speed, a little bit of weight-leaning through the handle does the job of steering.

Watch out on your brake technique

There is one rule which goes with putting on the brakes: when you brake your bike, do not brake all of a sudden, unless of course there’s a bovine in front of you, which could be highly likely while driving around Indian towns. Make it a point to practice braking on both the front and rear wheel together — this will make the bike slow down more smoothly. Also, remember that you should avoid using the clutch while braking, as the chances are that your bike might skid and fall. Holding on to the clutch while putting on the breaks can have disastrous consequences on slippery roads.

Accelerate gently

Do not accelerate your bike all of a sudden. It will just waste fuel and work up your engine for no good. Besides, a sudden increase in speed could make the bike go out of hand. The ideal way around it is accelerating slowly, gently. Moreover, it will also help you maintain that balance as the bike slowly gains speed. Before you set out on the road, it is essential to make sure that you have good insurance at hand. Magma HDI two-wheeler insurance online in India comes with long-term insurance plans that can help you stay away from any legal trouble while you master your riding skills. A Magma HDI bike insurance stands out as it has support for anti-theft devices and. Among other features, you also get access to personal accident cover, which ensures your financial safety as well.

Do not ignore these exclusions in health insurance policies

Health insurance in India is a necessity in contemporary times as it takes care of your finances in case of any health emergency with the help of a single policy. That being said, even the most comprehensive plans come with some exclusions. These are mentioned in your policy document and are often standard for all insurance providers.

You can make the best of your policy only if you know its coverage as well as exclusions. So, here are some you should definitely know of before you sign up for a new plan:

Waiting period

The only risks your health insurance covers from day one are injury/ hospitalisation claims due to an accident. Other than that, all other medical conditions have a waiting period after which you can make a claim. For common ailments, the waiting period is between one to three months from the inception of the policy, whereas the more serious diseases are excluded from coverage for as long as the first year.

Pre-existing conditions

You must have been told repeatedly that making a full disclosure of your health status is essential to get the right coverage. The reason behind this is a standard exclusion which says that all pre-existing diseases have an exclusion period stated in the policy wordings. Falsifying or hiding critical information can render your policy void and will inevitably leave you hanging in the future.

Lifestyle diseases

While these have not always been a concern, the drastic change in our environment and daily routines have made this a necessary part of healthcare. Unless specified at the time of availing the policy, all lifestyle-related diseases arising from smoking, alcohol consumption or drug abuse are excluded from a health plan. You would either have to pay a higher premium or be denied coverage in cases involving such ailments.

Alternative remedies

Most insurance companies are only slowly warming up to the idea of alternative treatment options. Treatment systems such as Ayurveda, Naturopathy and Unani have conventionally been excluded from health covers due to a lack of support from the medical community, which makes it difficult for insurance companies to accommodate.

However, some insurance providers are beginning to recognise these treatments now and are providing optional benefits which you can opt for to get coverage for them.

Maternity and childbirth

Maternity benefits are an integral part of any family health plan. This includes the medical expenses incurred for childbirth, infertility treatment or even abortion. In most cases, you would have to opt for a specialised maternity plan which is subject to a waiting period. Hence, it is a great idea to keep your family's future in mind while picking your policy.

Cosmetic treatments

While your health insurance policy may mention coverage for all hospitalisation, treatments such as plastic surgery, laser treatments, weight loss programmes, liposuction, eye and dental procedures are excluded from this cover. The exception to this rule is cosmetic procedures after an accident as they are critical to the functioning and well-being of a person.

To conclude, when looking for the best health insurance policy in India, remember to get details of all exclusions and waiting periods from your insurance agent or the policy wordings available to you. After all, the unpleasantness of reading that massive policy document sure beats being caught in a lurch while making a claim.

Road tripping on your favorite ride, here's what you need to do to gear up

Road trips on a car are enthralling. These drives fill our camera rolls with memorable moments that we recall with much fondness. If you are planning a road trip this season, congratulations — you have made the right decision. You have to take care of certain things before you decide to hit the highways to make sure that you drive is smooth. To start with, you should first get the best car insurance in India so that you do not land into any legal trouble. That done, you will have a big burden taken off your mind. Here, we will look at a few ways through which you can better gear up for your next road trip.

Tips before going on a bike trip

Long bike rides are relieving to the soul. They teach us many lessons, test our patience, and brings the best version of us on the road. There is much for the sight to behold — the steadiness of the highway, the slopes of the mountains, the glimmer of the rain, and the kiss of the wind. If you are planning a bike ride alone or with your buddies, then congratulations to you — you have made a great decision. However, before you start, there are a few things that you should keep in mind. Start by getting your papers — the bike’s registration and insurance — right. Yes, it is mandatory to have registration and two-wheeler insurance in India. Once you have the documents in place, you can move on to the other steps.

Why choose a long term two-wheeler insurance policy

Bike rides are thrilling — the wind teasing your hair, the sound of the motor groaning, bringing in a sense of movement, a much-welcome change. If you have a bike then you know how important it is for you — it is your friend, one which doesn’t let you down, ready to go with you on every walk of life. As a bike owner, it is your job to make sure that your riding experience is forever smooth, that there are no troubles attached to it. To begin with, you have to make sure that your paperwork (registration and insurance) is in proper place. Indian law makes it mandatory to have a two-wheeler insurance policy. If your bike insurance has lapsed for even a day, it could land you into some legal trouble! To make sure that your bike-riding experience is smooth and hassle-free, you must opt for a long term two-wheeler insurance policy. Besides, having long term insurance for your bike has its own sets of benefits. Here, we will look at some of the reasons why you should opt for a long term policy for your motorbike.

● Discount on premiums

When you opt for long-term two-wheeler insurance online for your bike, you get the option to avail discount on your premiums. Insurance companies provide you with discounts and incentives since they save on administrative costs if you opt for a long term policy.

● Avoid risks that come with non-renewal and policy lapse

If your insurance policy is not renewed on time, then you are exposed to certain risks. For example, if your bike meets with an accident, or is stolen, and if the policy is not in action, then you would have to bear the entire financial loss yourself. However, if you purchase long-term insurance, such problems can be easily avoided. Besides, if the policy lapses and you intend to renew it later, several insurance companies ask for an inspection of the bike to determine its condition before they decide to renew the policy. If you opt for extended two-wheeler insurance online for your motorcycle which extends for years can easily help you avoid such situations.

● Earn higher No Claim Bonus

No-claim bonus (NCB) is a discount that insurance companies offer on the premium if you have not made a single claim during the insurance term. When it comes to NCB, long-term two-wheeler policies have the upper hand over short-term policies that last for one year. The NCB slab structure for more extended policies is also different from short-term policies. Besides, the NCB discount is additional to any upfront discount which you get on the purchase of a long-term policy.

● Get rid of the paperwork

Choosing a short-term policy makes you liable for much paperwork. You will receive new documents at the end of each policy year. And searching for new and better deals also takes much time — something which not all of us have. If you are someone who doesn’t like the hassle which comes with paperwork, then you should opt for a long-term insurance policy. When it comes to choosing the best bike insurance, Magma HDI two-wheeler insurance policy stands out as they come with a host of benefits. You get additional cover for injury and death, which makes sure that the cover is not just limited to your bike, and extends to you as well. Besides, if you have installed an anti-theft device (approved by the Automotive Research Association of India) in your two-wheeler, you have the option to avail a 2.5 percent discount (or up to Rs 500) on your own-damage (OD) premium. With minimal paperwork and a hassle-free claim process, opting for a Magma HDI two-wheeler insurance online is one of the best options that you have for your long-term bike insurance.

What are the features of fire insurance in India?

Fire is a serious risk for pretty much all physical structures, whether it's your house or your shop. This is why insurance is essential to mitigate the loss to building, machinery, goods, furniture and fixtures, plumbing, electrical appliances and other assets in the event of a fire. Fire insurance is an indemnity based contract, where the insurer agrees to compensate for any loss or damage during the policy term, not exceeding the maximum amount for which the premium is being paid. Here are some features offered by fire insurance companies in India that you should know.

What is a personal accident cover, and how does it benefit you?

As per an official report released by the government, an astounding 469,910 road accidents were reported in 2017. Even though the number of accidents have been steadily declining over the past few years, an estimated 53 people get injured on Indian roads every single hour! Accidents are unfortunate, and there is no way to be prepared for them. However, while a personal accident cover (PAC) can’t alleviate the risk of accidents, it definitely covers the financial risk arising out of death, permanent or partial disability.

What does it cover?

A PAC covers any physical injury from a road, rail, air incident, burn injury, animal bite, injury due to collision or fall, drowning, poisoning, etc. It is available as an add-on option from insurance providers such as Magma HDI.

What are the types of PAC?

There are a few different types of PACs. While you can purchase a stand-alone policy, usually the coverage comes bundled as a rider with a life insurance plan. You could also buy limited period PACs when booking air or railway tickets. However, in the case of auto insurance, availing a PAC is mandatory as per the Motor Vehicles Act, 1988.

What are some advantages of a PAC?

1. It helps your insurance portfolio: Many health insurance plans do not cover accidental medical emergencies. As an add-on cover to your health or motor insurance, a PAC helps you cover all bases. As far as add-ons are concerned, a PAC truly helps make your plan comprehensive.

2. Cost-effective: The premium for a PAC is minimal and affordable for all. For example, a 30-year-old male would have to pay less than Rs 1000 per annum for a Rs 10 lakh coverage. Thus, it gives you essential coverage without the hassle of a hefty additional fee.

3. Ease of availing: A PAC only needs your basic personal information. There is no need for a medical check-up or follow up documentation. It can be availed in a matter of minutes as it is simply added to your new/existing policy.

4. Hassle-free claim settlement: If you ever need to avail the benefits of PAC, all you would need to do is inform the insurance company of the time and date of the accident, your policy number and contact details. The claim settlement process is initiated immediately after that.

5. Children’s education benefit: For families, a major concern is taking care of our children in our absence. Some insurers also cover the education of dependent children, in case of death or permanent disability of the insured person to ensure a secure future for them.

What should you keep in mind before purchasing PAC?

Personal accident covers are also subject to exclusions like your insurance policy. Some of these are losses arising out of acts of war or terror, injuries resulting from participation in adventure sports etc. Make sure you read your plan's policy wordings thoroughly for a smooth experience if you ever do need to make a claim. When looking out for a PAC, choose one that offers worldwide coverage and other add-on benefits like Magma HDI’s individual personal accident cover.

Tips on how to keep your car insured while relocating

Packing up and moving out can be a real chore. Uprooting your life from a place you call home and trying to fit into a new environment is also quite emotionally draining. Sometimes we do it for love, sometimes for a better future. Whatever the reason, relocating is always a challenge. Among the million things that have you at your wit's end, managing car insurance in India generally takes a backseat. However, just as you would tend to any other asset, taking care of your car insurance needs will hold you in good stead. Here are some tips to consider before you hit the road!

Where are we heading? That is where is the general insurance industry heading

Things change. It is the law of the universe, and we, along with everything that we do, are a part of it. To resist change is to combat the natural phenomenon of things. When you accept change and plan things in accordance with it, then things have a habit of place.

Let's talk claims

While choosing an insurance policy, the claim settlement ratio of the insurer is a major factor to consider. An insurance claim is filed to get coverage for the losses or damages you sustain due to the occurrence of an event as specified in the policy. Hence, proper claim settlement is an essential pre-requisite in your risk management system. When selecting an insurance company, you must check if it provides timely and easy settlement of valid claims.

General Insurance: Know your rights and duties

Things change. It is the law of the universe, and we, along with everything that we do, are a part of it. To resist change is to combat the natural phenomenon of things. When you accept change and plan things in accordance with it, then things have a habit of place.

How pollution can affect riding two-wheeler?

One of the most important questions asked these days is, “Do the health benefits of riding a bike outweigh the bad effects of air pollution on the health of the rider?” If this question was asked a few decades back, the answer would have been yes, but if you ask this question to someone in the present time, the answer would most probably be a big fat NO. The rising pollution levels are a very big concern in most of the important cities of India with the worst case being in Delhi where the pollution levels crossed the level of 1000 in the Air Quality Index of measurement of air pollution during the period after Diwali.

How to check your claims online?

Having insurance is like having a safety deposit. That means if anything goes wrong, you would not be at a total loss. Insurance policies from the leading general insurance companies in India minimize loss and damage by reimbursing you for the expenses incurred during any unfortunate situations.

Is it preferable to buy a house or rent one?

A home is something every individual requires and aspires for. A place you can come back to after a long and stressful day but purchasing a house is no child's play. It requires a certain degree of commitment and a lot of financial resources. In case you do not have adequate financial arrangements to buy a home, you would rather want to take a house on rent. But if you do have the required resources but are indecisive about buying a new home or renting it, then the following factors determine whether you should buy your own how or rent one: -

Road safety rules for citizens of India

A lot of people become victim to unfortunate road accidents. Merely witnessing an accident can leave a huge impact on the mind of an individual. Imagine the situation of those who have to go through such misfortune. That is why the Indian government always insists on following road safety rules.

What are the benefits of getting health insurance from 3 different companies?

'The more, the merrier'. A lot of you must be familiar with this phrase. It states that the more the number of people, the more fun they are likely to have. But that is not the only situation where this phrase is applicable. The same thing applies while buying a health insurance plan.

What are the new bikes launching in India?

The large competition in the market between different companies leads to the launch of several new bikes and scooters by the major brands almost every month throughout the year. All the major companies of India such as Hero Motocorp, Kawasaki, Suzuki, Yamaha, Bajaj, Honda release at least one to two two-wheelers in the Indian market in a single year. When you buy a new bike, you also need to buy insurance for the vehicle. Nowadays, the procedure for getting insurance is quite simplified and direct. Moreover, you can easily renew the bike insurance online without much hassle. Some of the major bikes launched in recent times and about to launch in the coming months in India are mentioned here:

Why is an exercise like cycling very helpful?

People are becoming more and more aware of physical fitness and activities that keep them healthy. Fitness has become a priority, and they are resorting to various measures like joining gyms, purchasing health insurance, joining yoga classes and engaging in other fitness routines to maintain their health.

Coronavirus - Precaution is always better than Cure !

Dos & Don’ts for the global health threat –Coronavirus

The World Health Organization (WHO) has declared novel Coronavirus (nCoV) as a Global Health Emergency. Here’s a quick guide to knowing all about the deadly virus.

Let’s begin with the obvious, what is Coronavirus?

The coronavirus is a family of viruses that are known to cause illnesses like the common cold to more critical diseases such as Severe Acute Respiratory Syndrome (SARS). A novel coronavirus (nCoV) is a new force of coronavirus that has not been identified before in humans. This particular virus is called ‘2019-nCoV’.

FASTag uses and benefits

Do you travel a lot by road? Are you tired of waiting for your turn at toll plazas on the interstate highways or expressways? Do you wish to get done with it as quickly as possible? If yes, then you must get a FASTag! As the name suggests, a FASTag is a tag which is a mean to ensure faster transit across toll plazas. The tag is placed on the windshield of the car and uses Radio Frequency Identification Technology. The tag is scanned by the tag readers placed at toll booths who then deduct the toll amount from the FASTag account. All toll plazas placed along the national highways are now using FASTag for payment of toll as per the guidelines of the government of India.

What are the benefits of renewing two-wheeler insurance online?

Not only buying insurance online but renewing it online as well is also possible and is very important at the same time. You can renew two-wheeler insurance online and the whole process is hassle-free along with being very less time-consuming. Renewing your insurance online will help you in continuing the coverage and benefits you receive under your current bike insurance policy.

Some of the benefits that you get when buying two-wheeler insurance are: -

● The insurance will save you from heavy expenses that occur due to natural disasters like fire, earthquake, landslide, flood, storm etc.

● The policy will also protect you from theft, burglary or accidents that are caused by humans.

● Third-party insurance which is mandatory as per the Motor Vehicle Act ensures the owner that the insured vehicle is free from any third-party liability that may arise if the insured vehicle is involved in an accident.

● Insurance Cover in Foreign Land will make the insurance company liable to pay for damages that occur to the insured vehicle outside the Indian territory as well.

● Having your vehicle insured will also save you from any penalties that you may face if you do not have two-wheeler insurance that is mandatory by law.

Once you buy insurance for your bike or any other two-wheelers, it is necessary to keep a check on when the insurance expires. It is always good to get your insurance renewed before it expires so that you may not face any difficulties in case you are travelling.

Benefits of renewing two-wheeler insurance online.

You can go to the office of the insurance company from where you purchase your insurance from, or there is a much simpler and better method to get your insurance renewed. Insurance policies are renewed online as well and there are many benefits of renewing your two-wheeler insurance online. some of them are: -

● NCB or No Claim Bonus is another benefit that the insurers are entitled to if they go throughout the year without any claim for the year. The benefit of NCB is available in various percentages, and even if you switch your insurance provider, you get an outstanding benefit which is that you can get your NCB transferred to the other insurer.

● Renewing your insurance is not only money-saving due to a lot of deals present online but also time-saving because you do not have to go through an exhaustive process of researching where to get your insurance renewed.

● Setting up an online insurance renewal system for your two-wheeler will save your efforts in future because next time you won’t even have to step out of your office or home to get the insurance renewed for your bike or any other two-wheeler.

● Along with all these benefits, you also get timely reminders to get you insurance renewed through the portals, and you won’t miss the deadline to get your insurance renewed. You also get to receive reminders of different discounts or offers available with online insurance renewal plans.

Online insurance renewal for your two-wheelers simplifies much of your effort and you can carry out the complete procedure of renewing your insurance from home only. The transactions for the renewal process can be carried out through credit cards, debit cards, net banking which are very safe methods of payments and you can rest assured that your confidential information will not be misused in any manner.

What are the best practices to be followed in a corporate office?

Motivated employees are the biggest asset of any company or organisation. They not only increase the overall productivity of the company but also generate better output. But the question arises, how to keep the employees motivated?

By implementing and following certain practices in the workplace, you can ensure that your employees give their best and develop both as a staff member as well as an individual. Given is a detailed explanation of the best practices to be followed in a corporate office:

  • State your expectations clearly - Many times, bottom level workers feel crushed under the expectations of the middle-level managers or employees. Therefore, as an executive, is utmost important for you to be very clear about what you expect from your employees. You should elaborate on the quality of work you expect from them, timelines, personnel role is in a certain project, and so on. This way, they do not feel the burden of work or meeting deadlines at the very last moment. Build a strong foundation of communication and mutual support.
  • Involve the employees - A surefire way to make any employee feel important is by involving him/her in the important decisions of the company. By taking their advice or opinions, you establish a feeling of trust and authority. For example, managers can ask their subordinates for their views on marketing strategies. This is bound to be successful as the employee gets motivated to work harder thinking of your company as his own!
  • Encourage feedback - Employers tend to establish dominance over their staff members. If that is the case in your organization, it needs to be changed! As an employee, you wouldn't want your superior to ignore all the suggestions and feedback you provide, then why should you neglect those of your team? A great way of building strong relationships with your employees is encouraging them to provide feedback after every meeting and respond to any issues or queries they have.
  • Fulfil their individual goals If you wish that your employees work for the betterment of your business, you must think of their personal goals. In many ways, you can add to their individual growth - for example, you can give regular bonuses, you can periodically increase their salaries. This way, they develop a stronger relationship with you as well as your company.
  • Use their talent : Any employee can develop a feeling of boredom or monotony if they work in an area which doesn't utilize their skills or talent. This not only results in dissatisfaction amongst the employees but also leads to a counterproductive routine in the organization. It is best to recognize the specialization of an employee and hire him on a suitable designation as well as assign him to work accordingly. This way, the tasks allocated to him will be done in the best possible manner and reduces the chances of that employee leaving your company.
  • Be open to errors: Humans tend to commit errors. Your employees too might make some of the other mistakes at some point in time. In such situations, it is best to take necessary corrective measures and guide them to not commit such mistakes in the future. Rather than   scolding them or making them feel bad about what happened, you must accept the mistake and be open towards it.

You can also make them aware of beneficial insurance policies and can help them in buying home insurance online if they moved to the city for working in your company. This way you can earn their trust as an employer and can expect the same from them.

Why people are purchasing insurance policies online?

Carrying out activities such as phone recharges, bill payments, grocery shopping, clothes shopping, etc. has become very common. All the activities are getting digitalized now, and so is the case with general insurance policies. There are various platforms where you can generate an instant general insurance online quote as well as purchase a new policy.

In present times, a lot of people prefer to buy insurance policy online. Although the online purchase of insurance policies may not be everyone’s cup of tea, yet there are some significant advantages of buying an insurance policy online after generating a general insurance online quote.

In case you are wondering why people buy insurance policy online, here are the reasons which encourage them to do so: -

Time-saving: - You do not have to go through the hectic processes of going to the company’s office and get the process completed. The offline process lasts several days whereas, through the online process, everything is just a few clicks away.

Lower premiums: - The premiums to be paid are quite higher for the insurance policies purchased offline than the policies that are purchased online. Thus, the online method is pocket-friendly as well.

Easy comparison: - When looking for an insurance policy online, comparing becomes easier. You can compare general insurance online quote from all the companies at once without having to go through any trouble. You can look for yourself and choose the company that suits you the most.

Freedom to decide: - Everything is done on your own, so you are the one making the decisions. There is no manipulation or pressure from the company when you purchase an insurance policy online. You are the sole decision-maker without any external influence.

Less paperwork: -Purchasing an insurance policy online reduces the amount of paperwork to be completed. The offline method involves a lot of paperwork which can be quite troublesome. The online saves you from it, and the entire experience becomes hassle-free.

Informed decision making: - You can also view the customer reviews for the policy that you are going to buy. Before finally buying the policy, you can search for the reviews of other customers to check if you can trust the company and the policy.

Fewer chances of rejection: - The chance of rejection due to incorrect or incomplete details becomes negligible under the online mode. This is probably where the offline method becomes troublesome, where the forms can be rejected multiple times for some trivial issues.

Easy and convenient: - The processes of purchasing a new policy and paying the premiums can be completed with just a few clicks in case of the online mode. In the older times, buying policies was all about personal interaction and a buildup of trust following the interaction. The customer was convinced by the representative of the insurance

Informed decision making: - You can also view the customer reviews for the policy that you are going to buy. Before finally buying the policy, you can search for the reviews of other customers to check if you can trust the company and the policy.

company and after various processes, the final buying of the insurance policy took place. However, in the online purchase procedure, everything is digitalized and available on your device with an internet connection.

Though, the digitalized ways of selling and buying insurances policies online lack the old ways of building up a sense of trust in the customer. The customers do everything on their own in such cases through the online portals of insurance companies, based on their brand image and terms and conditions.

The new method is not appreciated by all sections of the public, and many of them still prefer traditional methods. So, if you are looking to buy insurance policy then you should weigh all the pros and cons of both the methods and choose the one which suits you and your ideas the most.

Why should Senior Citizens get insurance policies?

With the onset of old age, a lot of people start facing a variety of health-related problems and diseases. Such health issues can lead to the draining of the bank account as most of the people retire by the age of sixty. That's why senior citizens need to get an insurance policy that takes care of them during such health emergencies.

Almost all health insurance policies in India include the following features: -

  • Covering hospital charges like medicines and operation bills.
  • Ambulance charges are paid by the Mediclaim.
  • Hospital Bed expenses are handled by the insurance company
  • No medical test is required before availing the policy.
  • Easy health insurance policy renewal.
  • Preexisting diseases are also covered depending on the company and type of policy.

The benefits of getting health insurance in old age are explained as under: -

  • Uncertainty of age - Old age brings its share of happiness and sorrows. A variety of diseases can also strike to some unfortunate people. However, with the support of a health insurance policy, both terminal and lifestyle diseases can be easily dealt with.
  • Medical help - If you meet any accident or have any form of illness or disease, you might need medical help which can cost you a lot of money. But reimbursement for all these expenses can be availed under the insurance policy at any required time depending on the type of policy.
  • Sudden illness - Imagine this, you are having fun with your family on a fine day, but all of a sudden you feel a sharp stinging pain in your chest leading to a heart attack. You have no health insurance cover. Your family is not in a good place to provide for hospital bills and medical expenses. What would you do? Such imagination does not appeal to you, right? That is why you should purchase a comprehensive health insurance policy.
  • Serves investment purposes - If you are wondering what to do with the large sum of money your retirement brought along, investing in insurance policies can be a great option. It is extremely safe and can be useful in the future if any misfortune takes place. You can even select auto health insurance policy renewal services and gain the advantage of long term insurance.
  • Beating medical inflation - With the constant rise in general inflation, the cost of medical services and treatment is also increasing. With a sufficient amount in medical insurance, you can make sure that any unfortunate disease or ailment at old age does not drill a hole in your pocket.
  • Saving tax - Under Section 80D of the Income Tax Act 1961, you can claim a deduction for up to Rs. 30,000 against the premium paid against medical insurance cover. This payment can be made for yourself or any of your family members like your spouse or children.
  • Loan on insurance - If by any means you need a large sum of money to fulfil a few urgent requirements, you can even use the insurance amount to obtain a loan from banks or NBFC (Non-Banking Financial Institutions). You even earn interest and bonus on the insured amount with the company depending on their regulations.
  • Long story short, buying insurance for yourself and your family can always be helpful in some or the other way. You can gain financial advantages for a long duration of time, even if you do not require it for medical purposes. Also, make sure that you keep a close tab on your health insurance policy renewal, to continue enjoying long-term protection.

What are the different types of general insurance policies?

In modern times, uncertainty has become a part and parcel of life. You can take as many precautions as possible but certain unwanted situations can always take place. These situations can be related to your health, your life, or your possessions like car, mobile, house etc. Due to any man-made situations or natural disasters, you can suffer losses on various accounts. In such situations, an insurance policy is something that can reimburse you for the losses suffered to a great extent and reduce the monetary damage.

Although insurance policies cannot prevent the happening of any unfortunate incident, they can help minimize losses suffered due to such incidents. Irrespective of the fact whether you decide to buy insurance policy online or offline, having an active insurance policy is a must.

Insurance policies are available in various types and categories. The two main categories are life policies and non-life policies. The life policies are the ones that deal with ‘life’ of an individual. On the other hand, the non-life policies are the ones which deal with all other types of mishaps that can occur. These non-life policies are also called general insurance policies.

What are the different types of general insurance policies?

Following are the different types of general insurance policies that are available, whether you buy insurance policy online or offline: -

  • Health insurance covers all the expenses related to a person’s health when he/she gets hospitalized due to problems like any illness or any accident. It also covers situations like an annual health checkup, daycare procedure, psychiatric support and other health-related situations. Specific extensions of these insurance policies cover critical illness, maternity-related situations and organ donation. The premium of a health insurance policy is based on the individual’s age, history of the health, any genetic disorders and other cases like that.
  • Travel insurance losses suffered while travelling to domestic or international locations are covered by the travel insurance policy. Situations like loss of baggage or passport, hijacking, medical expenses and other travel-related situations that require settlement are covered. Any accidental deaths caused during the travel are also compensated by the insurance policy. Some insurance companies also allow the travel insurance policy to be free of any deductibles. In this situation, the company covers all the expenses.
  • Motor insurance has further two types of policies that involve comprehensive and third-party policies. The third-party policy involves the settlement in situations that involve any damage caused to another vehicle or person by your vehicle. The accidental expenses caused by your vehicle are settled by the insurance company. Comprehensive policies also cover the damages caused to your vehicle. It is a policy which encompasses the features of third party policy in it.
  • Marine insurance is useful in reimbursing of losses cause to goods that are being transported through cargo ships to national as well as international locations.
  • Commercial insurance policies deal with the business-related insurances that involve loss of property, professional liability, marine damage and other such expenses.
  • Home insurance the insurance covers the losses related to theft, fire, or other damages caused to your home.
  • In case you are interested in buying a general policy, you can do so by contacting any insurance company, or you can even buy insurance policy online. The quotations will be provided to you in both online and offline cases. You can look at it and in case it suits you, you can purchase the respective insurance policy. You must make the premium payment on time to keep the policy active and enjoy its coverage. Any delay in the premium payment beyond the grace period would render the policy ineffective, exposing you to various liabilities and losses.

Why do we need to be careful while crossing the roads?

With a striking increase in the number of vehicles on the road, traffic safety has become a crucial matter in the modern world. As drivers and as pedestrians both, you need to be extremely careful about yourself as well as your fellow citizens.

Yes, no doubt a lot of medical facilities are widely available nowadays. Many multi-speciality hospitals provide emergency services to the needy ones. Many companies offer individual health insurance in India. A variety of measures can be undertaken after an accident. But would you want to go through all of it? Better safe than sorry, right? That's why we present the importance of maintaining road safety.

The given article describes the importance of being careful while crossing the roads as well as discusses a few measures of how you can avoid any misfortune while doing so.

  • To avoid accidents - The first and foremost reason why you should be careful while crossing roads is to prevent collision with any vehicle. If you walk across haphazardly, you might end up getting hit by any driver who was not very careful with his driving. You cannot take control of what the fellow driver is doing, but you surely have the responsibility for your safety.
  • To avoid injury - Of course, an accident will result in severe injuries. If the force stays quite high during the collision, the pedestrian might lose his life as well! To avoid such circumstances, taking precautions is necessary.
  • To avoid a collision when someone is driving too fast - People are often seen to be in some sort of hurry while going somewhere as they operate at an unusually high speed. First things first, the speedily approaching vehicle has the potential to injure you severely if you get into its way. Moreover, applying brakes at high speed can be difficult and it provides absolutely no assurance that no collision will occur.
  • To avoid injury to the driver - If you somehow end up lucky enough to avoid being rammed into by a vehicle, thank your stars. But the case might not be the same with the driver of the car. There are chances that someone might have applied brakes all of a sudden to avoid colliding into someone and his head banged on the steering wheel. He might suffer injuries as well.
  • To avoid slipping on the road - Not just by accident, you can injure yourself by not maintaining balance while crossing the road and falling. You might end up hitting your head on the concrete. Worst case scenario, the driver of a random vehicle does not notice your fall and collides into you! You surely wouldn't want that to happen.
  • Measures that can be taken
  • Always cross from zebra crossing - All of you must have read about a zebra crossing in your school days. Those same instructions are what you need to follow. Nowadays, generally, zebra crossings are painted in the front area of traffic signals.
  • Look on both sides - As people tend to drive on the wrong side of the road, no guarantee looking at the opposite side of the way before crossing will keep you safe. To ensure maximum safety, always look on both sides and cross only when it's feasible.
  • Never run across roads - This is a crucial fact yet often goes unnoticed by people, never run while crossing a street. That doesn't mean you should walk extremely slow either. Always walk at a moderate speed so that you can cross calmly and can stop when any fast vehicle approaches.
  • Avoid crossing when incoming traffic is substantial - If you want to cross the road, but the number of vehicles coming in from the opposite end is large, try and wait for a while and let the rush reduce. You can cross when the road seems a bit or more empty. This eliminates the possibility of sudden collisions.
  • Having individual health insurance in India can only help you with the hospitalization related expenses but to stay safe and sound, you must follow the traffic rules diligently.

Why is your employer health insurance not sufficient?

As a part of the measures undertaken to keep their employees motivated, many companies provide various types of incentives and insurance services, for example, personal health insurance, car insurance and so on.

No doubt this can be a great gesture from the company's end. But is it sufficient for you? Well, a lot of factors advocate why you should not remain dependent on employer health insurance as it is not enough. They are as mentioned below:

  • Less customization - Before signing up for insurance, employers decide all the features of the cover with the insurance company which include - the number of diseases, minimum and maximum amount that can be claimed and so on. This leaves very less scope of customisation available for you. You cannot be sure whether the diseases you have been dealing with or the ones that run in the family are covered or not. You cannot use the plan for any specific expenses as a fixed policy is made from a combination of various aspects where all are given almost equal weightage. This is the best option for the employer as he has to select a general plan for all employees, but the case might not be the same for individuals.
  • Continuity of the plan - Companies that offer a group cover have the facility of discontinuing as per their will. Moreover, insurance is related to the duration of your job. As long as you are associated with the company, you can reap the benefits of the policy. But if you wish to leave the job, you wouldn't be able to exercise the same benefits. Once you quit the job, the policy gets terminated on its own. Moving from a group plan to an individual one can drill a hole in your pocket after retirement as it is very costly.
  • Covers only one person - Generally, all companies offer insurance plans for their employees only. That can be beneficial to you on an individual scale, but what about your loved ones? Even if you wish to avail a health insurance policy for family, you wouldn't be able to ask for it by your superiors. Their care and concern are limited only up to you as only you are their employee. Therefore, it is best for your family members if you buy insurance for them rather than solely relying upon what your company is providing. .
  • Changes in the conditions of employer's policy - There is a possibility that your company has joined hands with any insurance agency to save money and reduce their liability towards the employees. They can thus, change the terms and conditions of the insurance policy as per their convenience. Some type of diseases can be exempted, coverage of certain expenses can be removed, and such similar measures can be undertaken by the employer. That is why it is best to choose an appropriate cover based on one's requirements.
  • Post-retirement coverage - As stated in one of the above points, your insurance is relevant only until the duration of your job. You would lose the cover after retirement, which is the time when it is required the most. And that is when you would have to buy your insurance policy. Getting one after a certain age, here say the retirement age of 60, is a very complex task. You might not be able to get a cover for the preexisting diseases. This means that eventually you would have to bear your medical expenses and the insurance amount would be of no use. To avoid any hassle in your senior life, you must get a cover in your youth to protect your health as well as your hard-earned money.
  • All this proves that opting for a health insurance policy for the family rather than relying on employer health insurance is a far better decision.

Why should we follow the traffic signals while driving vehicles?

Traffic rules are meant for your safety, and there should be no arguments against why you should ensure to follow traffic rules while driving or walking on roads. Traffic rules help protect you on the road as well as everyone else driving on the same road. People should know about the basic traffic signs and rules that should be followed while driving any vehicle on roads. People driving bigger vehicles need to be extra careful because of the multiple blind spots that are created by the big size of the vehicle.

5 myths of Home Insurance

Home insurance is one of the most common insurance that people buy, but most of the buyers do not know about the complete limitations and benefits of such insurance policies. There are certain myths related to home insurance policies that are still prevailing in people’s minds. You can find a person buying the best home insurance in India, but he/she will be under the myth that the insurance policy does not cover this or that. People need to properly read the offer and scheme related documents before they are deciding on buying any particular policy. Some of the myths that have been there in people’s minds for long periods have been debunked here: -

5 Reasons why you should have an Individual Personal Accident Policy

Accidents are always unfortunate, and you can never foresee when you might face such a circumstance, but it is always better to protect yourself from such unfortunate situations by getting a Personal Accident Insurance. You can easily buy personal accident insurance online by visiting the website of the insurance provider under which you want to get insured. If you have a Personal Accident Insurance, you will be able to protect yourself from huge inpatient hospitalization expenses and corresponding medical bills that can spend all your life savings in case you are met with an accident. You need to keep in mind certain things when you buy a Personal Accident Insurance: -

  • Buy personal accident insurance online with a premium amount that covers your needs while not putting heavy stress on your financial stability.
  • Compare the different Personal Accident Policies provided by different insurance companies and choose the one that fits your requirements the best.
  • Select a policy that can be renewed online easily without having to visit the insurance company’s office.

Personal Accident Insurance policies can provide you safety from sudden financial mishaps that can occur if you face an accident. Along with this, some of the reasons you should consider buying a Personal Accident Insurance are:

  • You have any disability taken care of - If you have a Personal Accident Cover, you will be able to claim compensation for any kind of disability that you may face in the aftermath of an accident. The insurer will get appropriate compensation from the insurance provider if they suffer the loss of income due to their disability. You can avail compensation for Permanent Total Disability as well as Permanent Partial Disability.
  • Accidental Death Benefit - This is one of the major advantages and the most important reason why you should get a Personal Accident Insurance. In case of accidental death of the insured, the insurance company is liable to 100% of the insured amount to the nominee which are generally Class I legal heirs such as a spouse, son, daughter, mother or father.
  • Medical Expenses are taken care of - If you suffer an accident, medical expenses cost can be very high and can finish up all your life savings in a very short span of time. A Personal Accident Insurance will provide you protection from such expenses as the insurance company will take care of the medical expenses of the insured. In case of demise of the insured, the company will also take care of the funeral expenses of the deceased.
  • Family Security - In case the accident leads to the death or permanent disability of the person and that person is the sole earner for the whole family, a Personal Accident Insurance will provide security to the insured’s family. This will not only provide the family with funds to support them but also shield them from any hospital expenses that will be incurred if the person is hospitalized.
  • Child Education Benefit - Some insurance companies also cover the educational expenses of children under child education cover in case of death or total disablement of the person insured. Under this cover, the company will be liable to pay some amount per child, to a maximum of two children for their educational expenses.

Buying personal accident insurance online not only protects the insured but also guarantees protection and security to the family of the insured in case the person is faced with permanent disability leading to loss of income. It is always a good idea to get a Personal Accident Cover, whether individually or along with your other insurance policies for your car or bike.

10 useful fire safety tips that you should know

A fire can start anywhere and you will be surprised to know that you may have as little as two minutes to escape from such fires to safety. Early warning signs and proper steps taken once the fire has been detected can save your life as well as others. Most of the home fires that occur are preventable and you should follow certain fire safety tips to protect yourself as well as your family from fire hazards.

Buying home fire insurance is the first step towards protecting your house from an unforeseen fire hazard that may destroy your complete property. But along with this, you need to know some safety tips to protect yourself if and when there is a fire outbreak in your home or office or any other such building.

1. Smoke alarms are the basic detectors that must be installed within the building so that you are immediately aware of if there is some fire in your house. Such fire alarms can be installed in your living room and all of the bedrooms. Installing fire alarms does not finish your job and you need to take care if they are working properly by regular checks. You may even need to replace their batteries periodically.

2. Have a fire escape plan ready and your whole family should be aware of what to do to escape from the house in case of a fire outbreak.

3. In case there is a fire in your home, try to escape as quickly as possible and do not go back to your house to gather any belongings. If your house is insured under home fire insurance, you will get everything back.

4. If you live in an apartment, get to know all the escape routes and as soon as there is a fire outbreak, pull the fire alarm so that everyone else is aware of a fire in the apartment.

5. In case there is a fire in your home, lie down close to the floor because smoke tends to rise higher. You can save your breath this way and can be safe inside the room for a longer period until help arrives.

6. If you are locked inside in case of a fire, try to block all paths of the smoke entrance to your area. You can get any clothing material and place it at the entry point of smoke which is generally the bottom of doors. The wet cloth will prevent smoke from reaching your area and you will be able to survive for a longer period until help comes.

7. All the inflammable materials in your home should be handled carefully and must be put in a safe place. In case there is a fire outbreak, try to keep flammable materials out of the reach of the fire, otherwise, they may cause an explosion risking everyone’s lives.

8. In case you use fireplaces inside your home to warm the house in winters, install a fire safety gate around the fireplace.

9. Fire extinguishers are a must at office places, but there must be fire extinguishers at your home also. Everyone in your family should be trained enough to use the fire extinguisher in case the need arrives.

10. In case your clothes catch fire, do not run because running won’t douse the flames, instead, it will only help the flame. Lie down and roll on the ground and the flames must be smothered by a heavy blanket or rug.

All these tips can come in handy whenever there is a fire outbreak in your home or your office. You must follow these tips, but you must never forget to call the fire department to let the professionals handle the fire hazard.

Quick guide for Add on Covers that you can opt for with Two Wheeler Insurance

Whether you buy a four-wheeler or a two-wheeler, you can easily buy bike insurance or private car insurance in India. All such insurances come with certain add-ons offered by insurers to supplement the comprehensive insurance policy and make it more valuable for the buyer. Some of the Add-ons provided are the basic add-ons while some other add-ons can be purchased by the insured at a higher premium. Each Additional Cover will cost some extra and that cost will be adjusted in the premium. Some of the basic and most common Add-ons that are available for two-wheelers and must be taken while buying insurance are: -

  • Zero Depreciation Cover - Depreciation occurs due to the reduction in the price of the vehicle over time due to natural wear and tear while using the vehicle. The rate of depreciation depends on the age of the respective parts of the bike. Generally, this depreciation is required to be paid by the customer as deductible during the claim process. However, if you buy a Zero Depreciation Cover, the insurer will not deduct this amount from the claim, and you will receive a comparatively higher percentage of the claim. You should opt for this cover if your bike is new and ideally less than 3 years old. If you have this cover, you will be able to make a maximum of two claims in a policy period but if your vehicle is damaged beyond repair, you won’t be eligible for this cover.
  • Accessories Cover - If you are someone who likes to have additional accessories attached to your bike and have your bike studded with additional high-end electrical and non-electrical accessories, you should buy an Accessories cover to insure those accessories as well from damages in case of accidents. To get this cover, you need to submit the total cost of these accessories while buying an insurance policy for your bike.
  • Return to Invoice - With an increased premium, this cover will protect your bike from theft or irreparable damage, and the insurer will compensate you by providing the Insured Declared Value of the vehicle to you. The Insured Declared Value or IDV is less than the invoice value of the bike because it is calculated by taking into account the depreciation rate of the bike, the road tax, registration charges, etc. The IDV of a two-wheeler can reduce to 80% of its value in a span of only 2 years and if you have this cover, you won’t have to spend too much extra money to get a new bike in case of theft or irreparable damage.
  • Medical Cover - This cover will provide you coverage from medical expenses that can be very high in case your two-wheeler meets an accident because there is no protection for the driver driving the two-wheeler. Taking this Add-on will help you cover the costs related to medical treatments in case you meet an accident.
  • Pillion Rider Cover - There is no protection for the pillion rider on the bike as well if the vehicle meets an accident. It can be argued that in most cases, the pillion rider is at more risk of getting hurt than the driver of the bike. In most insurance policies, the rider will be covered against death or any resultant disability in case of an accident, but there is no cover for the passenger. This Add-on will provide cover to the pillion rider in case of an accident resulting in the death or disability of the passenger.
  • NCB Protect - Most of the insurance companies provide a No-claim Bonus to the insured in case they raise no claims during the policy period. But, if a claim is raised the NCB is reset to zero, and to prevent that from happening you can buy the NCB Protect Cover. This will protect the NCB from resetting to zero and your accumulated bonus won’t lapse in case you raise a claim..
  • These were some of the Add-ons that you must consider while buying a new insurance policy for your two-wheeler as well as private car insurance in India.

    Quick Guide on Fire Insurance

    Fire insurance is a contractual agreement between the policyholder and the insurer wherein the insurer in return for consideration or premium agrees to indemnify the policyholder or the insured person for the financial loss that he/she may suffer due to destruction of or damage to property or goods by fire during a specific period. You can buy as well as renew a fire insurance policy in India by online as well as offline ways.

    The purchase of fire insurance helps to cover the cost of replacement, repair or reconstruction of the property, but fire insurance is generally not valid in case of war, nuclear risk or any such similar peril. Buying fire insurance is always a good idea because your property is your investment and buying a fire insurance policy will help you recover the damage and loss caused due to fire on your property.

    Most of the policies offered by the different insurance providers cover the physical damage caused to your property by the following perils: -

  • Fire
  • Lightning
  • Riot and Strike
  • Earthquake, wind and storm
  • Explosion
  • Smoke damage
  • Sprinkler Damage
  • Damage due to aircraft
  • Bush fire
  • Subsidence, rockslides or landslides
  • Impact damage which may occur due to the impact of road vehicles or animals or rails.
  • There are various types of fire insurance policies that are available in India, depending on the coverage requirement of the individual. The type of fire insurance policy in India you may choose also depends on whether the asset which is being insured is a fixed asset or a non-fixed asset. Depending on the type of asset being insured, insurance providers have different types of fire insurance policies available. The types of policies for fixed assets such as homes are: -

  • Replacement Value Policy - The asset which has been insured is replaced if it is damaged by fire wherein the insurance company pays the replacement value of the damaged property.
  • Reinstatement Value Policy - This is almost similar to the Replacement Value Policy but with an added clause that the insurance company will replace the damaged property to its original condition before the occurrence of the peril. This policy applies to fixed assets like buildings.
  • There are many different types of policies for non-fixed assets, such as: -

  • Specific Policy - This policy covers the loss up to a specific amount which is less than the real value of the property.
  • Comprehensive Policy - Also called ‘All in One’ policy, this policy covers loss due to fire, theft, burglary as well as other third-party damages.
  • Valued Policy - Under this policy, the insured person can recover a fixed amount which was agreed to at the time the policy was bought.
  • Floating Policy - This policy covers loss due to fire to property belonging to the same person but at different places.
  • Valuable Policy - The sum insured is not decided at the time of buying the policy but instead, the claim amount is calculated at the time of loss.
  • Consequential Loss Policy - This policy covers the loss in profit caused due to disruption of the business by damage due to fire.
  • Buying a fire insurance policy for your house or your goods is always a good decision, but you must buy a policy which covers the risk that you face and understand the nature of the asset that you want to insure and then buy an insurance policy accordingly.

    Quick Guide on Liability Insurance!

    Liability insurance provides the insured party protection against claims resulting from damage or harm to people or property. Intentional damage and contractual liabilities are not covered, but legal costs and payouts are generally attended to and paid. This type of insurance is also called third party insurance.

    If an insured party damages someone else's property or harms someone else by mistake, liability insurance comes to place. These policies can be taken by anyone who drives a car, owns a business, practices law or medicine or just anyone who can be sued for damages or injuries. Following is a brief guide on the public liability insurance policy and all that it covers.

    Due to various kinds of liability insurance available, almost anybody can get liability insurance for products, employees etc. below are the main types of liability insurance-

  • Employer’s liability and workers’ compensation- This is a mandatory coverage in case employees are harmed or injured in the process of work, and this protects business accordingly.
  • Product liability insurance- This insurance is for businesses that manufacture products that are sold in the market. In this case, business is protected against any lawsuit arising from an injury or death resulting from their products.
  • Indemnity insurance- This insurance protects the company from negligence claims due to financial harm resulting from failure to perform.
  • Umbrella Liability Policies - These usually come handy when liability limits of other insurances are reached. These liabilities are designed to protect against catastrophic events.
  • Commercial General Liability- Also known as commercial liability insurance, it provides an insurance cover against various kinds of lawsuits including those that may arise from an unforeseen event with an employee, any public property damage or injuries caused by the negligence of an employee.
  • Comprehensive General Liability- These kinds of Liability insurances are tailor-made for small and large businesses, typically include bodily injury, property damage, personal and advertising injury, medical payments, and operations liability. In this, compensatory and general damages on losses are paid, but punitive damages are not paid usually. However, it covers the charges of investigation or defending a lawsuit.
  • The premium amount for these public liability insurance policies is based on the needs of your company and your company's priorities. For example, a real estate company or a makeup company may have more risks than an organic grain company. This is also because the bigger the size of the company, the greater is the risk. A good public liability insurance policy will take into consideration these factors.
  • Here are a few rights and duties of the insurer:

  • The insurer investigates an event that has resulted in a liability claim.
  • The injured can defend the insured in any lawsuit related to a covered type of injury.
  • The insurer may settle a lawsuit at his discretion.
  • Cost of providing defense is handled by the insurer.
  • The following are advantages of a public liability insurance policy:

  • Protected against unexpected circumstances- Even after taking precautions and managing operations, there are unexpected circumstances that may cause more harm than imagined. Having public liability insurance ensures that you've selected a liability to cover for such unexpected inconveniences.
  • You could get more deals - It is easier for large businesses and firms to trust your company and find it reliable if they are aware of the liability insurances in place. This gives you an edge over other competitors and could also be your saving grace.
  • You may be covered against a data breach - With which data like important information about employees, products, deals, social security data, etc. data security becomes increasingly important. It is a must for every company to have a liability to cover hacking and other data breaches.
  • Having considered the above factors, your public liability insurance policy will not be complete if you do not personally understand the needs of your company and find public liability insurance according to that.

    Home Buyer's Guide

    Owning a home is generally seen as a sign of adulthood and financial responsibility. Buying a home is a huge step and a very big commitment and requires a lot of work on your part. You need to be aware of all the different things and steps involved with everything to fully comprehend what all things need to be taken care of before you buy a home such as EMI payments, property tax payments, best home insurance policies in India and several others. Many people rush into buying homes which is never a good idea because if you are not careful while buying a home, there is a probability that you may be making a bad investment.

    When buying a home, you need to be sure that you can sustain the financial burden and it won’t mess up your financial stability and for that, you need to understand the various aspects of homeownership. You can consider this as a guide which will help you in making a correct decision that will be beneficial for you in the long run as a good investment. Going step-by-step, you need to ponder over carefully on all these things: -

  • The need to buy the property - Many people decide to buy a home just because they want to prove to the world that they have attained adulthood and they can own a home. The decision to buy a home should not be made so precariously and proper thought must be given to whether you need to buy a property and how will it affect your financial stability in terms of mortgages.
  • Shortlisting the Property - Once you have properly assessed your requirements for a property, you need to now ponder upon what kind of home would you like to live in. Shortlisting can also be done based on whether you want to move in immediately or you want to construct the house according to your preferences. Ready to move in property generally require enough finances for paying cash up-front to buy them but for a house under construction, you can take bank loans while paying less cash up-front. The property should also be shortlisted based on what kind of location you want to live in.
  • Understand the tax implications - Everyone wants to reduce their taxes, and for this, you need to understand what kinds of taxes you have to pay and how can that tax be reduced smartly. You can save capital gain tax on residential properties but not on commercial properties.
  • The Legal Perspective - Once you have decided on buying a property, take care of all the legal things that need to be done so that the property is registered under your name or someone in your family. All the documents should be clear, and you should be comprehensive with regards to all the paperwork for the property to avoid any issues in the future.
  • Manage Finances - You need to have a stable financial system so that you do not face any difficulty in your daily life after deciding to buy a new property. You can also avail home loans from banks to finance the new property by paying less cash upfront to the developer of the property. Your home loan eligibility and the amount for which your home loan is sanctioned depends on your ability to repay the loan, i.e. indirectly your salary..
  • How to buy Health Insurance online in India?

    Health insurance is a medical insurance policy which ensures that you and your family remain protected in the case of sudden hospitalization due to any illness by providing financial coverage for all the medical expenses under such conditions. Health insurance policies are generally claimed in two different ways, by way of cashless treatment or through reimbursement of the cost of treatment at the hospital. All health insurance policies cover hospitalization costs if the hospitalization is more than a specific period but there are many different policies offered by different insurance providers wherein you may also obtain the benefit of coverage of hospitalization costs, pre-hospitalization costs, post-hospitalization costs, accidental covers as well as daycare procedures.

    How to Buy Motor Insurance Online?

    If you nurture and protect every little thing in your life, why not your car. Your car is something that you will use the most in your life, and it needs to be safeguarded against accidents, natural calamities, theft and malicious damage. Right now, when even minor repairs and maintenance costs can be so high, you can imagine what will be the extent of expenses in case your car gets damaged or in the worst case stolen. To avoid such a huge sudden financial loss, car insurance is important. Every year, a large number of vehicles make their way to Indian streets, and due to this reason, car insurance has been made mandatory by the Government of India under the Motor Vehicle Amendment Act of 2019.

    How to protect your home from theft?

    Even if you live in one of the safest cities of the world, you should not leave your home open and unattended else you might lose all your valuables to thieves. Everyone knows that the first reaction to theft is calling the police but very few people know what to do to prevent such thefts from happening in the first place. There are plenty of expensive as well as inexpensive ways to burglar-proof your home. Some of the best home insurance companies in India provide insurance against theft as well and it is the first thing that must come in your mind if you live in an area which is prone to thievery. Certain steps can be taken to protect your house from thieves and prevent your valuables from being stolen.

  • Never leave your house open if no one is there in your house. Always lock the main door and check if it is locked properly if you are leaving your house unattended for a longer duration. Burglars do not need more than 10 minutes of time on an average to identify the most valuable things inside your house and take it away with them. A slight mistake and you risk losing it all.
  • Check your locks on a regular basis and see if they are functioning properly and replace them as soon as possible if they are not functioning as they should. If any of the exterior locks are easy to pick, jimmy or bump open, they must be replaced immediately.
  • Don’t cover your house from the street. There must be a clear line of sight from the street to your house so that anyone trying to break open into the house is clearly seen by your neighbors. Cut back any trees or bushes that hide your house and obscure the front door.
  • Install home alarm systems and sensors so that as soon as there is a break-in inside your house, the fire alarm sounds immediately and informs the neighbours that there is something wrong.
  • Upgrade all your doors and windows and reinforce the doors, windows, locks and all hardware required to keep your house safe from burglars and thieves.
  • Use motion light sensors inside as well as outside your house, so that they light up in case there is unpredictable movement outside your house. Such sensors can sense movement outside the house and may even warn the owner if there is some unusual movement outside the house.
  • Don’t broadcast details about your upcoming trips on social media. This is one thing that thieves may be on the lookout for and if there is no one at your house, they will have the perfect moment to attack your house and take away your valuables.
  • Always keep your valuables inside lockers and safes. The keys to such lockers and safes must also be kept secured and out of normal sight.
  • Garages and garden sheds are the softest targets for entry into your house. An automatic lighting system attached to your garage or your garden shed can be a useful deterrent to protect your house from burglars.
  • Keeping a good relationship with your neighbours can help you in making your house look occupied even though it is unoccupied. You can tell your neighbours to collect the mail, clean the porch or to mow your lawn and some neighbour can even park in your driveway.
  • An empty house looking empty is the safest target for burglars. A house not looking unoccupied even though it is unoccupied deters the burglars because they can never be sure if it is a safe target to attack. You can keep in mind the above tips to protect your house and also get a suitable policy from the best home insurance companies in India, in case you are going out for that long holiday you have been longing for.

    How to register your car insurance claims?

    When you buy a car insurance policy online, you enter into a contractual agreement wherein you have to pay a specified amount as premium to your insurance provider in return for the protection the company provides you against damages to your car. In case your car meets an accident, the insurer is liable to pay you the compensation as per the contract but to get that compensation you need to file a claim with the insurance provider. The insurance claims are generally classified into two types:

    1. Cashless Claim - If the customer has a cashless claim, the customer will not have to pay any amount upfront for repairs at any of the network car garages of the insurance provider. It will be the job of the car insurance provider to settle the claim with the workshop on behalf of the policyholder. In such a claim, the insured has to get their car repaired at the partner workshops of the insurance company

    1. Reimbursement Claim - For a reimbursement claim, the insured has to pay for the repair of the damages to the car and later depending on the terms of the car insurance policy, the reimbursement claim is made. In such a claim, the insured does not need to get their car repaired at any of the partner workshops of the insurance company, but all the bills have to be produced at the claim.

    To raise a cashless claim, you need to follow certain steps in case your car meets an accident: -

  • Note down the license number of all the vehicles involved in the accident and also get the names and contact details of the witnesses, if possible.
  • In case there are third-party damages such as injuries/deaths, property damage, or any other such critical issue, you should file an FIR at the nearest police station.
  • Contact your insurer and report the accident, and you will receive a claim number.
  • Ready all the documents as told you by the car insurance company, which you will have to present before the company representative.
  • Take the vehicle to a network garage whose details will be provided to you by the insurance company to get your vehicle repaired.
  • A Customer Service Manager will get in touch with you within 24 hours, and you will have to show him all the documents related to your car and its insurance.
  • If the Customer Service Manager is satisfied with your papers, he will give the go-ahead for the repair work and you can get your vehicle repaired.
  • Once the repair work is completed, the insurance company will make the claim payment to the garage for the repair costs.
  • You will have to pay the deductibles which will be intimated to you by your CSM once the repairs are done.
  • You can also make a Reimbursement claim if you need to get your car repaired after meeting a severe accident:

  • Take a note of the details of all the cars involved in the accident and if possible, try to get the contact details of some witnesses.
  • Report the accident to your insurance provider immediately through a toll-free number provided by the company.
  • A Customer Service Manager or CSM will get in touch with you within 24 hours and will tell you to submit all the bills and invoices to the company to get the claim.
  • Once the claim is approved, the company will start the claim settlement process.
  • The claim amount is sent directly to the customer according to the terms and conditions of the contract.
  • If you have proper documents, you will get your claim, but your claim can also get rejected if you were driving without a valid driving license or if you were drinking and driving. Once you buy a car insurance policy online, make sure to read the policy documents completely, so that you do not face any issues while filing a claim for the damages to your car.
  • How to renew your car insurance online?

    Nowadays, renewing your car insurance is also as simple as just buying new car insurance. You don’t have to make several phone calls or wait in a queue at the insurance company’s office to get your insurance renewed. While renewing your insurance, you also have the option to switch to a different insurer which provides better benefits to you at the same or lesser premium. Although the process of renewal is very simple and hassle-free, you should take care of certain things before you are going to renew your insurance or are thinking about buying new car insurance: -

  • Check the Insured Declared Value or IDV - Depending on the age of your car, the insurance premium amount may change, so get the IDV re-evaluated. This will not only help you in getting a better price, but you will also get compensated accordingly in case of theft or loss.
  • Do claims check - In case you are thinking of changing your insurer, always make sure to check the claims ratio of the previous insurer and verify it against any claims you have made.
  • Appropriate Coverage with your plan - If currently you only have third-party insurance plan, consider getting a better and comprehensive plan which will also provide you coverage against the heavy expenses incurred on your car if it meets with an accident.
  • Make sure to check Cashless Garages - Always check for cashless garages in your area when renewing your insurance plan with a different insurer so that you get the benefits of free repair for your car.
  • Check the discounts and other deductibles- When renewing the insurance plan, make sure to check if you have got all the discounts you are eligible for with the plan, just like you do when you buy new car insurance. A deductible is an amount that you are required to pay before every claim and if it exists, make sure that it fits your budget.
  • Get Add-ons with your insurance plan - There are many add-ons available with the insurance plans, and you should consider getting them. Add-on covers like Zero Depreciation, Engine Protector or Return to Invoice can help you if your car is less than 5 years old.
  • Here is how you can renew your car insurance online:

  • Once you have finalized your plan, you need to enter your details on the website of the insurance provider. Some details you need to be ready with while renewing your insurance are: -

    1. Your Full name

    2. Your Address

    3. Car Registration Number

    4. Car-maker and model

    5. Previous Policy Number

  • Select the Add-ons that you want along with your insurance plan. Some of the common add-ons are: -

    1.Zero Depreciation

    2.Roadside Assistance

    3.Return to Invoice

    4.Engine Protection

    5. NCB Protect

    6. Loss of Personal Belongings

  • Once you are done with all the above steps, the final thing is only the payment. Complete the payment procedure and you will be done with renewing your insurance plan.
  • Renewing car insurance is as simple as buying new car insurance. Make sure you completely understand all the policy terms before you finalize the payment procedure for your insurance.

    Is Personal Accident Insurance essential in India

    While driving on the Indian roads, the possibility of an accident can never be ruled out. Whether due to a momentary lapse on your part or due to oversight on the part of someone else, accidents can take place anytime and anywhere. But the damages/losses incurred due to it can be mitigated with the help of personal accident insurance in India.

    What is Personal Accident Insurance

    Personal accident insurance is offered in combination with Third-party policy. Insurance companies charge a nominal fee for offering this coverage. Under this policy, you will be reimbursed by the insurance company for injuries suffered while driving your vehicle.

    Is it mandatory to get personal accident insurance in India?

    As per the latest insurance regulations introduced by the government, it is mandatory to get personal accident insurance in India for a vehicle owner. The current regulations by IRDAI state that the car owners, as well as bike owners, will now get a mandatory personal accident cover of Rs. 15 Lacs as per their motor insurance policies. Previously, this cover was capped at Rs. 2 Lacs for car owners and Rs. 1 Lac for two-wheeler owners against a premium of Rs. 100 and Rs. 50 respectively.

    Now the premium has been increased to Rs. 750 for a cover of Rs 15 Lacs. This premium is payable over and above the mandatory third party insurance cover. If the insured person wants a higher cover, then the same can be availed by paying a higher premium, which is to be decided by the insurance company. The coverage of the policy extends to the owners of the vehicle as well as the drivers of the vehicle, provided the availability of a valid driving license.

    This improvement in the personal accident insurance in India was introduced after a judgement by the Madras High Court in the year 2017. While passing the judgement, the court noted that enhancing the personal accident cover will act as some kind of solace to the victim as well as survivors of the accident.

    Though there are some exceptions applicable wherein the owner can opt-out of this mandatory personal accident cover i.e.

  • If the vehicle owner already has a valid personal accident cover policy with a sum insured of more than Rs. 15 Lacs.
  • If the owner already has a motor insurance policy with a compulsory personal accident cover with a sum insured of more than Rs. 15 Lacs for another vehicle owned by him/her.
  • If the vehicle owner already has a separate compulsory personal accident policy.
  • Benefits of Personal Accident Insurance

    Some of the standout benefits of subscribing to personal accident insurance in India have been listed here: -

  • The policy covers in the case of the unfortunate death of the insured. The nominee is entitled to the entire sum.
  • The cover is even provided for total permanent disability, permanent total disability, permanent partial disability and temporary total disablement.
  • Some policies even cover hospitalization due to an accident and the cost of transportation for mortal remains in case of death.
  • The dismemberment of any kind is also covered in some policies. Certain companies have also given said ratio and benefits for certain kinds of injuries that will then be paid to the policyholders
  • Very few companies also provide optional coverage in case of burns. This can also be considered before personal accident insurance is taken into action.
  • The treatment for the burns is also covered by some insurance companies.
  • With such extensive benefits on offer, availing personal accident insurance in India is a necessity for the vehicle owners.

    What are the clauses in Marine Insurance?

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    Car insurance is almost mandatory in times like now but keeping relevant information from your insurance provides is often misleading than not. Here are mistakes to avoid when you're buying a car insurance policy -

    Physical loss of engineering Insurance

    Today, the number of cases with construction workers being a victim of such accidental risks is increasing. There isn't much awareness around it to make every person understand its importance. Physical loss of engineering insurance includes protection from machinery breakdown, machinery loss, contractor's risk, etc. The major focus is on covering losses that are unforeseen and unexpected. This is also called machinery breakdown insurance.

    Quick Tips on Fire Insurance

    Fire and related events can cause very big losses, and they have become one of the biggest causes of losses in recent times. The damage due to fire can include non-movable assets like homes and buildings as well as movable assets like goods. To ensure you are protected against any unforeseen damage of your property by fire or any fire-related event, you can buy fire insurance for your property from any of the fire insurance companies in India. Fire insurance involves many things and some things must be taken care of while buying fire insurance or renewing your insurance so that you need to pay a lesser premium as well as while filing claims so that you get the best deals.

    Quick Guide on Marine Insurance

    Marine insurance companies offer a wide range of policies that cover any damage or loss to ships, cargo, terminals or transport by which products are transferred, held or acquired between the beginning and concluding points.

    What are affordable health insurance plans?

    Health insurance is a type of policy that offers coverage for medical as well as surgical expenses incurred by the policyholder when they are hospitalized during the policy period. Most of the health insurances today provide coverage of daycare hospitalization, pre-hospitalization as well as post-hospitalization and the expenses incurred during these periods are either reimbursed to the insured individual or are paid to the healthcare provider directly.

    5 Best Sports Cars for Sports Avid Riders

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    Consider These 5 Points When You Want to Sell Your Car!

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    Does making modifications in your Car affect your Car insurance?

    Everyone dreams of purchasing a car in life. Reasons can be numerous; after all, having your car has several benefits. You can visit any place at any time at your convenience. You will no longer feel constrained in your life; cars have made the world a smaller place. That's not all, as owning a car is a status symbol too. People feel more secure and enjoy more private trips in their car.

    Don’t miss out on these Medical Tests you should be doing in your early 30s!

    Getting older could be a little scary. You begin to worry about your physical health, your finances, along with many other things, but it shouldn’t have to be. When it comes to both your health and your finances, you need to start preparing from today itself, if you haven’t begun already. Life is unpredictable and it always comes in handy to be prepared. So, when it comes to your health, you need to keep getting regular check-ups so that you can know about any possible problems on time and should also have a comprehensive health insurance policy for a family in case of any unforeseen incident.

    These should be your Fitness Goals in 2020

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    How to claim car insurance after your accident in India?

    While driving a car is a pleasure, a misfortunate incident can spoil everything. A tree falling over your car, water entering mechanical parts during rains and floods, road accidents, etc. are all incidents that do not come with any prior warning. Accidents happen in our daily life, and when a car is involved, it becomes a very costly affair. This is one of the reasons to have the best personal accident insurance policy in India.

    How to Start Your Career in Life or Health Insurance?

    If you are someone that derives pleasure out of helping others, then there are a multitude of jobs out there for you in almost every field. You can choose to become a lawyer, a doctor, a psychologist, an animal rights activist.

    How to Reduce Car Pollution Level During Smog Season?

    While driving a car is a pleasure, a misfortunate incident can spoil everything. A tree falling over your car, water entering mechanical parts during rains and floods.

    Tips to Help You Maintain Your Bike Better

    There are many people who decide against buying a car, especially since it can be quite expensive to purchase as well as maintain, and instead opt for a motorbike. Bikes are much easier to fit in smaller spaces and offer the possibility of going a bit faster, something which excites many. However, just like any other vehicle, you need to make sure to take good care of it, which includes buying bike insurance online in India. Here are some tips to help you maintain your bike better: -

    You Must Know These Things While Driving!

    With a constant need to go from one place to another and on a fairly regular basis, there is a necessity for a suitable means of transport. Many opt for public transport like the bus or the metro/ local train to move around while others look for something which will ensure ease of movement at any given point of the day, such as cars or motorbikes. If you go with the second option and decide to buy your own a bike, make sure to buy two-wheeler insurance online so that you are covered financially in case of any accidents or damages. When it comes to driving, there are certain things you must know of, which are as follows: -

    How to make claims for multiple Health insurance policies

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    How to Secure Your Home Against Calamities?

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    How to Stay Financially Healthy?

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    Safety Tips Before Going on a Trip

    There really isn’t the right time to go on a trip. Sure, you might need to take fewer leaves from work or school if it’s sometime in June or December when everyone is on vacation. But a vacation is a vacation. And it’s an exciting time; you are busy making plans about all that you’d do once you get there, all that you need to buy before leaving, packing up your suitcase and other such things. But that isn’t all.

    Know the Top 5 bikes of 2020

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    Top 5 Cars to Buy in 2020

    As part of their New Year goals, a lot of individuals decide to purchase a new car. Now, cars aren’t cheap, even if you don’t consider luxury brands such as Audi or Jaguar, and you have probably saved up a bit of money so you can buy a decent car. So, when making a choice, it is important that you put a lot of thought into the car that you wish to buy.

    Top 5 Destinations in and Around Mumbai

    Mumbai and its nearby locations have always been regarded as some of the best places to explore in the country. Besides being the financial capital of the nation, there is a lot to explore for travellers in the city of Mumbai.

    What is no claim bonus in Car insurance?

    Car insurance is all about cutting your losses in case of an accident or theft. You will pay the premium annually or more frequently as per the guidelines of your policy.

    5 Explanation On Why Health Insurance Quote Is Important

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    Making “Work From Home” Work

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    5 Reasons Why Tourists Love Car Insurance

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    5 Things Your Parents Taught You About Fire Safety

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    5 Common Misconceptions About Health Insurance

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    7 Reasons Why Tourists Love Health Insurance

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    Some top stories about bike insurance

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    5 Apps to Help You Manage Your Bike Riding

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    5 Laws Anyone Working in Marine Insurance Companies Should Know

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    10 Great Individual Health Insurance Speakers in India

    There is nothing more saddening in life than the loss of a close family member or close friend. It is an exceptionally uncertain time for everyone when your family member or friend is battling an ailment. Medical expenses are an all-time high, and it is tough for people to provide quality healthcare for people close to them.

    10 Things You Learned in Preschool That'll Help You With Home Fire Insurance

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    Does your Health Insurance Policy cover Corona Virus?

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    Is there any waiting period applicable for viral infections like Ebola, H1N1, and now Coronavirus?

    Every hospitalization insurance policy comes with a stipulated waiting period which signifies the number of days that must lapse before the policy coverage begins for specific health conditions.

    Five benefits that make health insurance an absolute necessity Revised 5

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    Five exercises that keep you healthy

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    Seven ways to lower your cancer risks

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    Common bike insurance terms that you should know

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    What documents are required for buying a used car from a private seller?

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    Health Insurance Marketplace Explained

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    Heart Diseases

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    How to keep your home safe from fire

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    How to claim your bike insurance?

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    Personal Accident Cover In A Car Insurance Explained

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    Some health tips to prevent chronic kidney disease

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    Why driving license & motor insurance policy is necessary

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    Why home insurance is a must for your house in today's time

    All of us are extremely lucky to stay in a nation as diverse as India, which has a plethora of climatic changes to offer and support its citizens. However, the past few years have been quite a difficult journey for all, as a series of natural disasters that occurred in and around the nation. From the cyclone in Andhra Pradesh to the floods in Jammu and Kashmir, Uttarakhand and Chennai, to the more shaky issues like the earthquakes in Nepal and North East India, all have caused considerable losses to lives and properties. Instances like these are a colossal knock for people who haven't yet browsed through the best home insurance in India since they can provide adequate cover for various physical properties and homes.

     

    Expert Speaks

    All of us are extremely lucky to stay in a nation as diverse as India, which has a plethora of climatic changes to offer and support its citizens. However, the past few years have been quite a difficult journey for all, as a series of natural disasters that occurred in and around the nation. From the cyclone in Andhra Pradesh to the floods in Jammu and Kashmir, Uttarakhand and Chennai, to the more shaky issues like the earthquakes in Nepal and North East India, all have caused considerable losses to lives and properties. Instances like these are a colossal knock for people who haven't yet browsed through the best home insurance in India since they can provide adequate cover for various physical properties and homes.

     

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    Eating during COVID-19: How nutrition can protect people's health during COVID-19.

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    Family Health Insurance or Individual Health Plans – What to Choose?

    Establishing life goals entail insurance plans, but that’s not a holistic confirmation to your investments. The next question would be - whether to settle for an individual or a family floater plan

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    Monsoon brings us particular delights, after the scorching summer season, rain is the only respite we look forward to. But they are not so delightful when they leave a trail of plight.

    Why Home Insurance against Natural Calamities is Essential

    One of the most expensive assets that an average earning Indian buys in his/her life is a house. A good part of our earnings is spent on buying and furnishing our dream home.

    Precautions to Take For Your Bike in Monsoon

    Monsoon prefaces an ideal fit for a biker’s dream for a planned respite out of the city hustle. Although the season is arguably the best one for bikers, it is also irreversibly lethal primarily due to torrential downpour and fog - that can create scenarios prone to accidents.

    /tips-to-ensure-a-disease-free-monsoon

    Monsoon arrives with new promises and provides a route to escape from the scorching summer heat. It comes as a respite to many but has its consequences.

    Road Safety Tips for Two-wheelers

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    Top 9 Foods To Be Included In Your Diet For A Safe Monsoon

    Monsoon often arrives as a welcome relief to many. The scorching summer heat and humid tiring days are replaced by new hope and joy as the rain comes with new promises of life.

    Two Wheeler Insurance- Types of Cover you need, Exclusions, Benefits

    Two-wheeler insurance provides coverage to two-wheeler vehicles and bikes. It primarily covers any losses incurred from road accidents, natural disasters, or theft. The motor vehicle act of 1988 also makes it mandatory for owners of vehicles to have valid motor insurance. You are liable to pay hefty penalties otherwise.

    The weather seems to be perfect for a car drive, but your vehicle is refraining from starting, ever ben in such a situation?

    Yes, we understand your problems, and the struggle is real when it comes to cars that stop suddenly, giving no hints of starting. It can be a real deal when your lovely ride stops in the middle of a road and deny your orders to start. Having a car that stops suddenly can lead you to grave danger, especially when you are outside and need to go somewhere.

    5 Essential Things to Keep in Your Car

    Cars become a second home to those who love travelling and driving. Be it driving long distance or shorter ones, before we start off to any destination we need to ensure that we are stocked up on essential things that will come handy in emergency situations. As goes the saying, precaution is better than the solution, it’s better to be well equipped than to wait for help. Still feeling unsure of what should be the essential things that you should keep in your car? Well, we bring to you the 5 most important things that your car must have.

    5 Tips To Take Care Of Your Eyes If You Work At A Computer All Day

    Cars become a second home to those who love travelling and driving. Be it driving long distance or shorter ones, before we start off to any destination we need to ensure that we are stocked up on essential things that will come handy in emergency situations. As goes the saying, precaution is better than the solution, it’s better to be well equipped than to wait for help. Still feeling unsure of what should be the essential things that you should keep in your car? Well, we bring to you the 5 most important things that your car must have.

    5 Ways To Fight Depression With Health Insurance

    The pandemic situation triggered a rise in depression and other mental health issues. The Supreme Court motivated the Insurance Regulatory and Development Authority of India to allow all insurers with health insurance on mental health issues.

    Dealing with Back Pain_ Causes and Treatments

    Is this you, rambling about back pain? Whether it is a one-day return or every two weeks, you need to know the reason behind your back pain and how quickly you can treat it before it's late!

    COVID-19 Second Wave_ Can We All Stay Safe Indoor

    The breakthrough of the corona virus has led us to these challenging times. And staying healthy and disease free to prevent yourself from the virus is one crucial task. To prevent yourself from corona, it is advised to stay indoors.

    Guide to Buy a Used Car

    Owning a brand new car is a dream that most of us have had when growing up.

    Healthcare tips: How to keep yourself safe during Diwali in COVID-19

    The festival of lights seems to be around the corner and preparations seem to be at the same pace as the previous years.

    How to stay healthy at home - During the COVID-19 Lockdown

    With extended lockdown being the most current happening around the country, we aren’t expecting things to get normal anytime soon. However, what stays intact even during this pandemic is the fact that we need to stay healthy by ourselves.

    Healthcare tips: How to keep yourself safe during Diwali in COVID-19

    The festival of lights seems to be around the corner and preparations seem to be at the same pace as the previous years. Considering the fact at how the other festivals have been celebrated around the year with a different twist, courtesy of the Novel coronavirus, even the festival of lights will be something different.

    How to keep yourself safe during Diwali in COVID-19

    Do you feel fatigued often, or have random episodes of diarrhoea or catch a cold now and then? It may mean that you have a weak immune system. There can be several other symptoms too, and so are the reasons behind it.