GENERAL INSURANCE BLOG

Public liability insurance in India is a kind of insurance that aims to shield business owners from claims that lead to legal actions. It protects you if a customer or general public claims that your business activities caused them to suffer an injury or property damage. A policy will pay for these costs, which may include any compensation you are required to pay if a claim does end up going to court.

More about public liability insurance in India:

The public liability insurance policy covers the insured's legal obligation to pay third parties for unintentional death, physical injury, disease, and loss of or property damage. Subject to the limitations of indemnity and other terms, conditions, and exceptions of the policy, it covers the financial claims filed against the insured during the policy period, including legal fees and expenditures spent with the prior agreement of Insurers.

A few important points to remember:

● No culpability is acknowledged

● Claims filed more than five years after the incident won't be considered

Myths about public liability insurance:

1. Professional assistance and counsel are covered:
It's common to mix up professional indemnity insurance with public liability insurance. Public liability in India covers the costs related to unintentional damage and injuries. In contrast, professional indemnity protects against claims from professional negligence in business services and advice.

2. If you are sued, you can close the company:
If you own a small business, closing it won't make the case go away if you are proven legally responsible for someone getting hurt or something getting broken. The lone proprietor will be held personally liable indefinitely for any claims brought against a small business. Even while persons who run a limited company can close their company, they will still need to deal with any legal actions brought against them. Only a public liability insurance policy will be useful in these circumstances.

3. The purchase of public liability insurance is mandatory:
Businesses are not obligated by law to buy public liability coverage. However, it would be crucial to buy this coverage if you want to shield your company from having to pay out astronomical sums in claims. While performing their duties, your personnel may harm people or damage someone else's property. Businesses operating in public areas or on clients' property need this insurance policy. Get a public liability insurance quote if you need to figure out how much it will cost.

4. Loss is compensated through public liability insurance:
That's only partially accurate. Public liability insurance in India does not cover pure monetary loss. Therefore, a third party cannot demand reimbursement for the monetary damage they have sustained due to a service provider's acts.

5. Every time you sign a new contract, you'll need new insurance:
Most of the time, firms only have a single policy to cover all the contracts and projects they take on. However, for public liability insurance, when a new contract entails significant risk or is substantial, buying new insurance can be required rather than renewing an existing one. Almost every public liability insurance in India has flexible coverage options.

This simplifies adding new features when the company expands or takes on new jobs. This will be practical and guarantee that your business needs are addressed. Working with trustworthy and renowned insurance providers is essential when looking for insurance coverage to safeguard your small business. Your business can benefit from having the best public liability insurance in India.

Click HERE to learn more about public liability insurance in India.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Hatchbacks are small cars with a hatch-type opening at the rear end that we can open upwards and often come along with boot space. They do not have a separate boot from the passenger cabin. They are ideal in size for manoeuvring easily in city traffic and have a seating capacity of 4-5 people.

Hatchbacks are a preferred car segment for families, especially middle-class families, because of their size, ease, and convenience, in addition to good mileage and cost efficiency.

1. Easy manoeuvrability:
Hatchbacks provide ease of manoeuvrability compared to sedans and SUVs on busy city roads. They are easy to handle, and constant braking, taking turns, moving through narrow lanes, etc., become easier for the drivers. Moreover, it is easy to park them in the ever-shrinking parking space of the big cities.
As the Sedans are longer in size, it can be a hassle to drive them on busy streets. Parking them can be even more challenging. SUVs are heavier and can be tough to manoeuvre around if you are using them for daily use amidst heavy routine traffic.

2. Foldable rear seats:
Hatchbacks come with foldable rear seats. Just open the rear hatch, fold the back seats, and you have massive storage space for your luggage and other stuff. Hence, hatchbacks can offer more boot space than even a sedan with a separate boot if there is no passenger in the back seat.

3. Better mileage:
Hatchbacks usually have lesser kerb weight than sedans and SUVs. This directly has a positive impact on the fuel efficiency of the car. Also, hatchbacks usually have smaller engines than cars of other segments.
Hence, they provide better mileage than others and save a lot of money over a long period. SUVs usually have big engines and can be fuel guzzlers. Sedans can also have poor mileage due to their size and engine capacity.

4. Cost-effective:
Hatchbacks cost much less than SUVs and sedans. As these cars cater to the budget-conscious category, their spare parts are also reasonably priced. Hence, hatchbacks are easier to buy as well as maintain. Their running costs are much lesser than cars of other segments. They turn out to be cost-effective and pocket-friendly.
Sedans come with long, elegant, and stylish exteriors making them more expensive. SUVs, including compact-size ones, are heavier than hatchbacks and come equipped with bigger engines, making them more expensive than hatchbacks. The spare parts of sedans and SUVs are also costlier than hatchbacks. Their running costs, maintenance, and service charges are also higher.

5. Sporty:
Hatchbacks are usually sportier and more fun to drive than sedans and SUVs, especially in city traffic conditions. They come in various colours and designs and are considered practical alternatives to sports cars for everyday driving.

Hatchbacks are a preferred car segment for small families. Modern-day families also avoid buying long-sized sedans as the three-box design is of little use to them in their daily lives.

You may buy a car from any of the segments- a hatchback, a sedan, or an SUV, but you will have to go for motor insurance compulsorily in India. Driving without valid motor insurance can attract hefty fines and cancellation of your driving licence. Also, the motor insurance India policy protects you from any financial burden in case your car meets with an accident and needs repairs. The insurance company will foot the bills for you and bring your car back in shape. Hence, go for a good motor insurance India policy and stay secure.

Click HERE to buy a motor insurance India of your choice.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Due to the extreme population density, everything in the country is crammed up and congested, which also applies to the roads. Driving on city roads or highways is complex and challenging. If you're learning to ride a two-wheeler, this article might be helpful for you.

In India, road accidents are frequently encountered. Every minute, a road accident occurs in some part of the city, which puts everyone at risk. The density of people per square foot of the road is way more than it is supposed to be. So much so that it exceeds the safety limits.

If you own a two-wheeler, the roads can leave you vulnerable and scared. You should keep many things in mind when driving through congested roads, and your safety comes at the top. You should also have a valid insurance policy to safeguard you and your two-wheeler. Research the best two wheeler insurance rate in India and purchase the policy that suits your needs and is within your budget.

Let us thoroughly look at the tips to keep you safe while driving across congested roads.

1. Do not lose focus:
Focus is extremely important while riding a vehicle. Avoid all distractions that can cause you harm while riding. Phone calls, music, or small talk with your fellow passenger can be distracting. It can lead to road accidents in a blink of an eye. Hence, it is best to avoid them all.

2. Keep an eye on the road:
Whenever you drive, you should keep an attentive and careful eye on the road, people, and other vehicles. Most people are not cautious while crossing the road, especially in market areas or other congested roads. This puts the responsibility on you to be extra alert. Look out for any pedestrians on the road when you ride your vehicle.

3. Do not over speed:
Over-speeding is one of the leading causes of road accidents and fatalities in India. Fast driving on a congested road can lead to disasters. It is advised to slow down as and when necessary. It is best not to put too much pressure on the accelerator as congested roads have comparatively lesser space to occupy vehicles and allow them to commute swiftly. Plus, the risk of colliding with pedestrians or street vendors is always high.

4. Plan your trip well:
You must have a clear idea of the route you're going to take. It is wise to sort out your route on maps before you begin your journey. You don't have to waste time and effort sorting a route in between your ride. Preferably avoid taking congested roads even though they might show the shortest route.

5. Maintain a safe distance:
You should maintain a distance from the other vehicles. Do not drive too close to other vehicles. The same is advised for people on the road as well. Maintain a safe distance from all to avoid accidents. Also, look out for the speed breakers and potholes carefully.

6. Follow traffic rules:
It is mandatory to follow all the traffic rules whenever you're on the road. Violating traffic rules can land you into several troubles, from penalties to even imprisonment. It is best to wear a helmet and carry all required documents during your ride.

These tips can help you make your way through congested city roads. If you are a new rider on the streets, you should always focus on the road and be attentive while driving. Additionally, you should also insure your vehicle with a valid insurance policy. The two wheeler insurance rate should be researched and found beforehand to help you make the best choice.

Click HERE to know the best two wheeler insurance rate to buy a comprehensive policy.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

India's railway network is the fourth largest in the world after the USA, Russia, and China, with over 22,593 operating trains. Train journeys are exciting and add many experiences to our lives. Have you ever wondered what happens if your luggage gets lost or stolen from your seat or the railway station itself? Are you eligible to get compensation from the Railway authorities in such cases?

The answer is "yes". Let us go through how we can get compensation for lost or stolen luggage from the railway authorities.

1. File an FIR:
The first step that you should take once you discover that your luggage is lost or stolen from a running train is to file an FIR by approaching the train conductor, attendant of the coach, TTE, or any guard or GRP escort in the train. They will provide you with an FIR form in Hindi, English, or the regional language. You will have to fill it up and give it back to them. They will register a report at the upcoming railway station.
You do not have to pay any charges for this service. Also, you don't have to break your journey by getting down at the upcoming railway station to fulfil the above formalities. However, you can take help from RPF Assistance Posts present at major railway stations. This same process is to be followed in case of loot by dacoits in moving trains.

2. Post FIR:
Once you have filed the FIR for your lost or stolen luggage, the railway authorities will try to search and locate your luggage. If they are successful in doing so, they will contact you and give it back to you. If they cannot trace it within 6 months of lodging the FIR, they will have to compensate you for your lost luggage. They will do a fair assessment of the value of your luggage and compensate you accordingly.

3. Is ticket reservation compulsory:
No, you don't need to travel only in the reserved class to claim compensation for the theft of your luggage on the train. As per the direction of the National Consumer Disputes Redressal Commission (NCDRC), Railway authorities are liable to compensate you for the theft of your luggage even in the general compartment where you do not have any reservation but hold a valid ticket.

4. Case of booked luggage:
When you book your luggage with the Railways while travelling on a train, you can declare your luggage's true value. You will have to pay a prescribed percentage charge of the value of the goods as luggage handling charges to the Railways. In such a case, you are entitled to get the full value of your luggage as compensation in case it gets lost or stolen en route.
However, suppose you did not disclose the true value of your luggage while booking it. In that case, the monetary liability of the Railways for compensation is limited to INR 100/- per kilogram of goods booked.

Travelling by train is inevitable for most of us in our regular lives. Hence, it becomes crucial for us to safeguard our luggage during train journeys. We should be clear about the compensation policy of the Railways in case of lost or stolen luggage so that we can follow it and not suffer losses in case of theft or loot of our luggage.

General insurance India is also important to cover your luggage during your travel. Remember to add travel insurance to your safety while making railway bookings. Taking this small precautionary step can keep you in a relaxed state of mind and protect you from unexpected financial losses. You can also claim for mishaps while travelling, and your insurance provider will compensate you for the damage caused.

Click HERE to buy a general insurance India policy to cover your travel plans.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

India ranks among the top 10 countries with the most two-wheelers in the world. Indian roads and highways are crowded with two-wheelers of all makes and designs running in different directions. This also means that you need to take great care of the vehicle that you ride on. It should have all the proper documentation. You will be compelled to pay a fine or compensation if you lack these documents.

Your bike insurance plays a pivotal role in the safety of your two-wheeler. You must renew your insurance from time to time to be free from any future problems. The expiry can result in a significant financial loss if it is not renewed. You may also be penalised for not adhering to valid insurance.

To prevent yourself from this mishap, you should be well aware of the expiry date of your bike insurance. You now have the option to know about the expiry date of your bike insurance online. The steps are hassle-free and doable.

Let's look at the ways and means to renew bike insurance online.

1. Visit the website of your insurer:
You need to go to the insurance company's website to look at your policy's expiry date. The steps are:

● Visit the website or app of the insurance company

● Sign in to your account

● Fill in all the important information and log in

● Go to the bike policy that you've opted for

● You will get all the information, including the expiry date

2. By VAHAN website:
VAHAN is the official website of the Ministry of Road Transport & Highways, Govt. of India, which keeps the records of all the registered vehicles in India. It has all the information about the insurance policies of these vehicles. The expiry date of your insurance can be easily checked on this website. The steps to follow are:

● Go to the VAHAN website

● On the designated field, enter the registration details of your bike

● Click on the button marked Proceed

● Go to the Services menu

● From the list of options, click on Additional Services

● When the new page is shown, enter all the details asked for

● Enter your registration number, chassis, engine number, and verification code

● Go to Verify Details

● An OTP will be sent to your registered number for verification

● Upon giving the information, you will see all the details, including the expiry date of your insurance

3. By Email:
Your insurer sends all the essential information, including policy documents, to your registered email ID. If you want to look at the bike insurance expiry date, you can simply search for it in your email inbox. Make sure it is the same email you used to register for the bike insurance.

4. Through RTO’s website:
For a country like India, RTO has all the given information as a record for all your needs. This also means that it has a track record of the expiry date of your bike insurance. You simply have to log in to the official RTO website and look at the process. Follow the steps to access all the information related to your bike. It also includes the expiry date of your policy.

5. State transport department website:
Most Indian states have introduced the new feature of checking your bike details online. The transport department of these websites has all the information you will need for your insurance policy. Go to the official website and enter the details to access the information you're looking for. You will have details of the expiry date as well.

These are some of the most effective ways to check the expiry date of your bike insurance. You should always renew bike insurance online to protect it against any accidents. Failing to renew your policy in time can make it null and void, and you won't be able to enjoy the benefits anymore. Damages incurred during this phase will not be covered by your policy, putting financial pressure on you.

Click HERE to renew bike insurance online.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

There is no denying that health is one’s greatest asset. While health insurance policy renewal and purchasing a new policy can protect yourself from health contingencies, you can do plenty to maintain your overall health. Well-being professionals have come up with the key trends impacting how we live, heal, and flourish in 2023, such as the rising significance of rest or treatment to treat migraines and mood disorders.

1. Greater emphasis on purposeful actions and well-being:
Prioritising your overall well-being, which includes your physical, mental, social, and the well-being of the community and the planet has recently been recognised as a global trend. Research indicates that people will sensibly spend more time and money on how their actions affect their surroundings and the earth.

2. Teenagers and 20-somethings to appreciate immersive and healing sounds:
In 2023, it's anticipated that sound therapy will become more popular. Binaural beats, 3-D spatial audio, and isochronic tones are types of soundscapes that can stimulate and entrain the brain to reduce anxiety, induce relaxation and concentration, and speed up the healing process.
Therapeutic playlists are being created for use in clinical and hospitality contexts. ASMR is a spontaneous physical-emotional experience that causes a strangely pleasant feeling of relaxation and a tingling sensation at the back of the scalp and from there it moves down to the body. It has taken the world by storm and is continuously evolving.

3. Mind-body therapies for mid-20s to 40s:
Some ways to calm the body and mind are focusing on something, controlling your breathing, and moving around. Athletes have long utilised ice baths to treat muscle pain and inflammation. These treatments are known as cryotherapy and cold-immersion therapy.
Recent research has shown that they can also help lower blood pressure, regulate blood flow, and the rate at which tissues break down food. Migraines, mental problems, dementia reduction, and immune system stimulation are all treated by cold immersion therapy.

4. Taking ample rest is a priority for those in their 50s:
The theme of 2023 will be pausing and slowing down. People will favour restorative yoga and calming sound baths over HIIT (high-intensity interval training) sessions and the hustle culture. Additionally, sleep is being increasingly emphasised as the best form of self-care.
If technology has stolen your sleep, sleep technology will help you get eight hours of undisturbed sleep with its aids and devices. Choose from a wide range of applications offering sleep stories and meditations and download them to rest, reset, and revitalise.

5. Senior citizens to focus on spiritual well-being:
Spirituality is something that experts say people in their 60s and older should do for their overall health. Studies have shown that the most effective modern therapies help people build social support networks and, often, a spiritual connection to something bigger than themselves.
This new take on the idea of wellness is at the heart of integrative and functional medicine practices like yoga and meditation. For many people worldwide, religion and spirituality serve as both a valuable health resource and a means of community building. Current studies on meditation and well-being emphasise the importance of our spiritual welfare.

Wellness trends serve a greater purpose than just being a global movement. They can help you live better with aim and purpose. Ensure well-being your top resolution for 2023, and see how your life changes. While these trends can help improve the quality of your life, purchasing and ensuring health insurance policy renewal continues to be a non-negotiable to protect yourself from rising healthcare costs.

Click HERE to get your health insurance policy renewal before it lapses.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

As the Motor Vehicle Act specifies, every bike owner must acquire a third-party insurance policy. You may compare bike insurance online and choose the policy that offers the most value for your money while providing superior coverage. You can compare different plans with a hassle-free process.

Why is bike insurance comparison important?

Given the variety of bike insurance options available in the market, it is advised that you compare these options online before selecting the best policy for your motorcycle. Online comparison of plans across numerous categories is simple as more information is readily available. These comparisons assist you in choosing the bike insurance that offers you the most benefits at the lowest premium.

The best two wheeler insurance is a comprehensive 2 wheeler insurance plan because it covers both own damage and the legally required third-party bike insurance. Additionally, you can purchase any necessary add-on coverage to broaden the scope of your standard policy.

Here are the key elements you need to consider while evaluating various bike insurance options online.

1. Best coverage:
You may go through several bike insurance plans when comparing two-wheeler insurance online. The coverage may vary slightly depending on the insurance provider. You can pick the best protection that will work out well for you.
You should be aware that manually comparing bike insurance policies will take time. The best way is to research online and digitally compare different policies and their coverage before making the final decision.

2. Most suitable policy:
It's best to assess your needs before comparing bike insurance online. Because you will be clear on your plan's benefits, the purchasing process becomes faster. It enables you to choose the insurance policy that best fits your needs.
A comprehensive bike insurance plan is recommended for those who expect to ride their bike for a long time as it provides coverage for "own damage," and the third-party bike insurance. Your insurance provider will cover the cost of restoring the bike in the event of any damage.

This kind of insurance also provides a broad range of coverage, including protection against accidents, theft, fire, natural disasters, man-made disasters, third-party liabilities, and personal accident insurance for the bike's rider.

3. Customer support service:
Always keep customer service quality in mind when picking a bike insurance provider because it guarantees the prompt resolution of your complaints. Checking the insurer's social media pages for consumer comments, reviews, and ratings is a good place to start.
It is crucial to purchase the best coverage from a reputable insurer and the finest policy possible. Look for special services that an insurer provides, such as prompt repairs, easy pickups, helpful customer service, etc.

4. Network of service centres:
The availability of network garages is crucial for hassle-free bike repairs. You must consider the number of network garages listed under specific insurance if you want a cashless claim settlement for your bike.
Finding a nearby cashless garage during a road incident would be easier if your insurer has a nationwide network. Therefore, pick insurance with an extensive network of garages so you can benefit from quick, stress-free repair services and efficient claim processing wherever.

Don't forget to check out the chosen insurer's social media pages, brochures, and website. You will gain insight into the company's reputation. Check features like a quick, paperless, and efficient purchase & claim settlement process before concluding the deal. If you intend to purchase bike insurance online, you must abide by the aforementioned requirements to find an affordable and appropriate policy that meets your needs.

Click HERE to buy the best bike insurance for your motorcycle.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Financial products and services are constantly evolving and adapting to changing market conditions and customer needs. The insurance industry is no outlier with the ultimate goal of increasing insurance penetration. It undergoes massive changes each year to use potential opportunities within the scope of the law to increase customer satisfaction and insurance awareness.

As we move into 2023, general insurance companies in India expect significant changes that will redefine the perception of insurance. While some align with predicted global trends, many are likely to contribute to domestic consumer trends and legal amendments.

Here is a quick rundown of some top insurance industry trends predicted for 2023!

1. Portfolio diversification through product innovation:
Increased product development innovation is expected globally to address the unique needs and risks of emerging technologies such as electric vehicles, smart cities, and the Internet of Things. Cybersecurity insurance is likely to continue as a highly demanded product. As the consumer-centric approach of the industry grows, diversification is expected to be based on evolving consumer needs.

2. Additional offerings:
Insurance companies may distribute other financial products as per the Finance Ministry's proposal. While the proposal is yet to be clarified, veterans speculate that the approved products could include allied insurance products, investment, or value-added services.
Insurance companies are set to benefit from their well-established distribution channels, adding to their revenue from a secondary source.

3. M&As:
A proposal to issue composite licences is also under discussion, opening up opportunities for general insurance companies in India to sell insurance policies, favourable mergers, acquisitions, and massive expansions in revenue and product portfolios.

4. Technology:
The use of technology, such as artificial intelligence and data analytics, will steadily increase and provide insight into customer behaviour and preferences. This offers an excellent opportunity to efficiently use human intervention and improve the efficiency and effectiveness of operations by harmoniously using digital and human efforts.

5. Digitalisation:
The pick-up of technological advancements has been slow across the global insurance industry, but this is expected to change in 2023. Insurers will invest in digital platforms and tools to provide personalised and convenient services to customers. Digital channels will likely be used for sales and service and to support underwriting and claim settlements.

6. Value-based brand building:
With the entry of new competitors amid an incoming global recession, insurance companies may have to rethink their approach to changing customer perception and stricter regulations. As consumers tightly clutch their wallets, companies will have to build greater awareness regarding their products and their significance amid uncertainties. This will build a connection based on values that their audience resonates with, including transparency.

7. New distribution channels:
With the rise of insurtech start-ups, the insurance industry is expected to see a boom of new distribution channels, such as online marketplaces, digital brokers, and comparison websites, making it easier for customers to access insurance products and compare prices.

8. Entry of new players:
The growth of the Indian insurance industry has largely been dependent on the Insurance Act of 1938 and the Insurance Regulatory and Development Authority Act of 1999.
The winter session of Parliament discussed proposed amendments, including the scrapping of the statutory requirement of INR 100 crore start-up capital for life, health and general insurance companies in India and INR 200 crore for reinsurance business. This move will likely result in new entrants in the market, increased competition, and possibly making premiums cheaper.

With increasing internet use, rural India is an untapped market that general insurance companies in India can explore through efficient digital channels that make insurance accessible.

Slated for rapid growth, the insurance industry will see several significant changes in 2023 as it adapts to new technologies and evolving customer needs. By focusing on global trends, digitalisation, and customer satisfaction, non-general and general insurance companies in India can curate a path to be at the forefront of the insurance industry's future!

Click HERE to buy a reliable insurance plan that fits your needs.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.