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General Insurance

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General Insurance

General insurance

Insurance premiums, such as those that cover someone's life, home or car, do carry some risk for the consumer. While it covers the majority of expenses, there is still a risk that a person will have to pay some money if the person does file a claim against the insurance policy. Non-life insurance provides additional protection against this risk.

Non-life insurance can also be used to protect financial investments. It can ensure that assets are safely covered for investors. There are a number of regulations and guidelines pertaining to non-life insurance terms, all of which vary based on the customer's specific situation.

Motor Insurance:

Motor insurance policy is mandatory for vehicle owners as per Indian Motor Vehicles Act 1988. This Plan is designed to give coverage for losses which the insured might incur in case he gets stolen or damaged. The amount of Auto insurance premium is decided based on the Insured Declared Value of a car. The premium will increase, if you raise the IDV limit and vice versa

Motor insurance is mandatory for all vehicles that ply roads-like cars, trucks, etc. The prime objective of this type of insurance is to provide complete protection & coverage for physical damage or loss from man-made & natural disasters. According to Indian Motor Act 1988, an auto insurance policy is mandatory for every automobile owner in the country. Hence, purchasing motor insurance is not just a necessity, it is mandatory by law.

Non Motor Insurance:

We also assist with other Non motor Insurances like Travel Insurance, Corporate Insurance, Home Insurance, Fire Insurance, Burglary Insurance, Machinery Breakdown Insurance, Marine Insurance, Workmen Compensation, Group Medical Insurance, Group Personal Accidental Insurance, Construction All Risk And Erection All Risk

a. Travel insurance

When you are making your vacation plans do not forget one vital aspect! Travel insurance is today the need of the hour. Whether you travel internationally or within the country, out of home signifies a FOREIGN GROUND. So, keep yourself, your family, and your luggage protected against any eventuality.

Travel insurance includes Domestic Insurance, International Insurance, Student Insurance, Senior Citizen Insurance, and Family Insurance.

Key features include:

Cover for trip cancellation, delays
Cover four lost, delayed luggage or passport
Out/in patient hospitalization coverage
Contingency cover for personal possessions
Accident cover against death/permanent disability However, there are certain exclusions to travel insurance too that you should know about. Insurers don't cover you against missed or delayed flights during riots, war conditions, or natural disasters. Also, you won't get any compensation for hospitalization related to pre-existing diseases.

b. Corporate Insurance

Insecurity, risk, and uncertainty are incidental in Corporate Sector. So, the best you can do for your organization and the employees is to avail the facility of corporate insurance. These are ideal for SMEs and Big Enterprises. Different types include

Asset & Property Insurance: Fire Insurance, Shop Owner's Plan, Office Package, & Burglary Insurance
Group Health & Accident Insurance: Health Insurance, Travel Insurance, Accident Insurance, & Life Insurance
Employee Benefits: Group Gratuity Plans, Key Man Plans, & Group Term Plans
Others: Marine Insurance, Liability Insurance, Officers And Directors Liability Insurance, & Professional Indemnity

Benefits associated with a corporate are the following:

Remain protected against unforeseen loss
Diffuse risk by spreading amidst all
Risk transfer to insurer improves credit standing
Optimally use and invest capital with insurance to take care of emergencies

c. Home Insurance

Secure your property from natural and man-made calamity with HOME INSURANCE.

Such policies give protection against

Damage by man-made or natural agents
Burglary or breakage in the house
Damage & breakdown of gadgets or appliances
Loss of baggage during travel
Robbery or theft of valuables
Injury, permanent disability, or death
Damage through acts of terrorism
Public liability
Injury/death of workers
Post rental damage
Rent loss through damage Coverage amounts generally depend on the reinstatement value of your property or on the current value in the market. However, when buying home insurance you should also know about the related exclusions. Such plans do not cover damage due to nuclear explosion, radioactive contamination, invasion, military activity, or acts of war.

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