Car Insurance
Car Insurance is a contract between the Customer and the Insurance Company wherein you pay a premium for a policy that will provide protection against every comprehensible risk related to your vehicle : damage, theft, death and injury in an accident, plus liability protection in case you are sued as a result of an accident (Third Party Liability).
Insurance Companies offer several different type of policies for car. Here is what you need to know before making a choice.
Coverage for Own Damage : Protect your vehicles against damage due to accident, natural calamities, theft, fire & more.
Third Party liability Cover : Cover losses due to third party property or person in case of accident, including injury & damage due to their property
Personal Accident Cover : Provide Compensation for medical cost and in unfortunate case, death of driver due to accident.
Please be informed that add on cover can only be purchased with the base product and on the payment of additional premium
Comprehensive policies covers for own damage,Third Party liabilities and personal accident to owner driver as well. Customer can also buy several add on covers like depreciation reiumbsement, Roadside Assistance, Consumbles, Engine protection, Return to invoice etc. Daily allowance to use alternate means of transport while the car is being damage by insured peril mentioned in the policy.
Personal Accident Cover
Personal Accident cover under car insurance provide compensation for Permanent disabilities resulting from accident & death as a result of the vehicle meeting with an accident is covered for the owner driver of the vehicle.
Zero Depreciation Cover
Zero depreciation car insurance is a type of add-on cover that ensure that you receive the full sum insured at the time of clamming your car insurance.when you pay for this add on,in case of a claim insurance company will not deduct any depreciation of parts while paying for claim
Roadside Assistance
Roadside Assistance in car insurance provide emergency services to policy holder if car is breakdown.You can expect assistance for minor repairs, battery restart, spare key arrangement, phone assistance, emergency fuel and towing to nearest authorised workshop.
Third party Liability Cover
The cover protects you against legal liability arising from damage to third party property and/or resulting in temporary or permanent disability to the third party.
Engine Protection
When an automobile is stalled or immersed in floodwaters, its engine may sustain damage when it is subsequently started. This type of loss, which results from circumstances other than direct loss, such as accidents, is known as consequential loss.
Return to Invoice
Return to Invoice (RTI) is an add-on cover in car insurance available with own damage or comprehensive car insurance. It provides compensation equal to your car’s invoice value in case of total loss, when your car is stolen or damaged beyond repair.
Consumable
When your car undergoes repairs after an accident, several small but essential materials—like engine oil, brake fluid, gearbox oil, nuts, bolts, grease, and AC refrigerant gas, are completely used up. These are called consumables.Consumbale typically are not covered under comprehensive policy.you have to additional amount out of your pocket
Commercial Vehicle Insurance
Commercial vehicle insurance is designed to protect businesses from the financial losses that can occur when their vehicles are involved in accidents, damaged, or stolen. This type of insurance can cover a wide range of vehicles, including cars, trucks, vans, and buses.The insurance policy that provides coverage for such vehicles is referred to as commercial vehicle insurance.This form of motor insurance safeguards against accidents, third-party liabilities, theft, natural disasters, fire, and various unforeseen damages encountered by commercial vehicles during their business operations.It is important to note that commercial vehicle insurance is different from personal vehicle insurance.Personal vehicle insurance typically does not cover vehicle used for business purpose.Which is where commercial vehicle comes in
Health Insurance
Reliable financial protection is crucial for every household in the modern world due to growing medical costs and unforeseen health risks. A comprehensive health insurance plan guarantees that families are protected during serious medical crises, even while savings play a significant part in managing little, everyday demands. Understanding the options and picking policies that provide both protection and value are often the first steps in helping many clients choose the best health insurance.
Benefits of Health Insurance
- Hospitalisation Benefits : Health insurance benefits for hospitalisation cover costs incurred during the hospital stay more than 24 hours, such as room rent, doctor fees, medical procedures, surgery fees, and nursing care.It is called Patient hoapitalisation.
- Low-Cost Premium for Young People : When you try to understand what are the benefits of health insurance, an important factor to consider is that it is always cheaper to buy health insurance when one is younger. An insurer sets its premium based on various risk factors such as age, medical history, and lifestyle factors. Generally, younger people are healthier and less prone to chronic diseases. As a result, they are a lower risk to insurers, translating to lower premium rates
- Yearly Medical Check-Ups :This is one of the key benefit of health insurance. Diseases may arrive unannounced, so a complete periodic health check-up is advisable to prevent future health problems. This helps in the early detection of potential health issues for proper treatment at early stages.
- Covers Ambulance Fees : The advantage of covering ambulance service is that when a policy holder meets with an accident or has an emergency medical issue like a heart attack, he/she can avail of ambulance service and claim reimbursement of the cost incurred.
- Hospital Daily Cash : The majority of health insurance companies offer hospital daily cash, which is a fixed sum (based on the Sum Insured) as financial support for the insured following the completion of each 24-hour hospitalization. This benefit has time restrictions, as stated in the policy documentation.
- Tax Benefits Under Section 80D :The benefits of health insurance include tax benefits under Section 80D. The premiums paid towards the health insurance policy are eligible for tax deduction under Section 80D of the Income Tax Act, 1961.
- Cumulative Bonus : A Cumulative Bonus in health insurance is a financial benefit for the insured. The insured person will obtain a Cumulative Bonus as a reward for not making any claims in a policy year. The bonus gets added to the Sum Insured without any change in the Premium paid by the insured.
Personal Accident Cover
Personal Accident Cover is a valuable financial protection plan against unforeseen accidents that may result in injury, disability, or loss of life. It helps reduce the financial stress on you and your family by providing a lump-sum payout for covered accidental events, including permanent total disability, permanent partial disability, and accidental death. With affordable premiums and comprehensive coverage, this policy ensures that unexpected incidents do not create a financial burden, allowing you to focus on recovery and peace of mind.Whether at home, at work, or on the move, Personal Accident Cover provides reliable assistance when you need it most.
The following features are included in a personal accident plan:
- Accidental death benefit: The insurer pays the nominee the whole sum insured in the unfortunate event of death of policyholder.
- Permanent total disablement: In this scenario, the policyholder will get a certain percentage of the insured amount.
- Permanent partial disablement: In this scenario, the policyholder receives a small percentage on weekly or monthly payment of the sum covered. For example, loss of hearing in one ear, loss of index finger/any other finger, loss of one hand, etc.
- Temporary total disablement : The policyholder is entitled to get weekly benefits for accidents resulting in confinement up to 104 weeks. For example, fracture in hands or legs.
- Education grant: Up ot the age of 23, the policy covers the expense of education for a maximum of two dependent children.
What is not Covered under Personal Accident Policy?
- Intentional Injury
- Influence of intoxicating drugs or liquor
- Injuries from a civil or forgien war
- Breach of law with criminal intent
- Injuries that aries because of participation in adventures sports.
- Pre-existing disability/accidental injury
- Death or disablement resulting from child birth and pregnancy
- AIDS
- Terrorism
Disclaimer:
This information is intended for general educational purposes only and should not be construed as professional medical or financial advice. It’s important to consult with a qualified healthcare professional to determine the best health insurance plan for your individual needs and circumstances. Be sure to carefully review the terms and conditions of any health insurance policy before enrolling.