GENERAL INSURANCE BLOG

Building a property from scratch can be a time-taking and intimidating process. Whether commercial or private property, the construction cost can burn a hole in your pocket. This is precisely why property insurance becomes necessary to protect you, your family, and your assets from any unforeseen tragedies that might occur.

Property insurance provides cover for various misfortunes, including but not limited to fire, natural calamities, or robbery. However, choosing an insurance specific to your asset type is vital for the best coverage and benefits. This blog gives insight into the various types of property insurance available in the market based on your asset type.

1. Office insurance:
Office insurance is essential for all office premises, including public and private offices, call centres, etc. This insurance plan covers office owners against damages from unforeseen circumstances like fires, storms, lightning, hurricanes, cyclones, etc. This policy also covers other possible threats, such as the theft of office appliances.

2. Construction sites insurance:
Construction sites are places with a high probability of accidents. The misfortune of contractors is that the property remains their liability till the entire construction is completed and the property is handed over to someone. Whether it is due to bad weather or some water damage, it is a possibility that the building might collapse onto itself. It is essential to get construction site insurance to keep your assets secure against these occurrences.

3. Commercial insurance:
This insurance covers the policyholder from the losses incurred from destroying commercial properties such as warehouses, offices, factories, hotels, etc. Taking a suitable commercial insurance policy can be the best investment for business owners to safeguard themselves from the enormous losses faced by man-made or natural calamities.

4. Landlord insurance:
Landlord insurance is much like the homeowner’s insurance with one significant addition. The addition is the compensation of lost rental income, which is not covered by any other policy.

5. Renter’s insurance:
Tenants are usually in a dilemma regarding the safety of their belongings in rented accommodation. If their prized possessions are stolen, or there is some natural calamity that results in the tenant incurring losses, there is no way that the homeowner will pay for it.
So, the best option for tenants is to get insurance that covers all their belongings. Renter’s insurance is very similar to the homeowner insurance policy. One significant difference is, however, that this policy is exclusively meant to recover financial losses sustained by the policyholder if their belongings (can include clothes, jewellery, and appliances around the house) are damaged because of man-made or natural calamities.

6. Homeowners insurance:
Homeowners insurance or HOME INSURANCE is the most widely acquired type of property insurance. This is for a good reason. A home is a significant investment, and it is imperative to be secure against the various misfortunes that might befall it.

An appropriate home insurance covers all the financial losses the homeowner might incur in the event of any significant damage due to an accident or mishaps like burglary. Additionally, it also covers any possessions that have been destroyed in the mishap.

Our home is the greatest property asset, and safeguarding it from potential damages should be our primary objective. Having the most suitable home insurance is a surefire way of protecting from financial mishaps and adding the safety net of damage coverage.

Property insurance gives the property owner security and credibility, which is important for peace of mind and financial safety. Thoroughly researching the best insurance policy is essential to have the optimum coverage for your assets.

Click HERE to know more about home insurance.

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.

Building a property from zero is a daunting process. It takes time, effort, and a high budget to construct your dream home or your dream office. Despite all this hard work, there are times when misfortune strikes unexpectedly. It can be a short circuit caused by lightning, a storm, flood, or cyclone that might drown your premises.

You won’t want your property to fall prey to such casualties. Despite taking all precautions and looking after safety measures, still, you cannot avoid the probability of mishaps. As rightly said, we must always pray for the best but prepare for the worst.

So, it is wise to be smartly insured against any such happenings. A policy that covers most misfortunes, either natural or man-made, is the Fire and Special Perils Policy.

What is the fire and special perils policy?

A fire and special perils policy is a contract where the insurer secures you and your property from any damages that may occur due to natural calamities such as storms, cyclones, and resulting floods, lightning, or man-made perils such as riots, strikes, or malicious damages.

Even though adversities like these may not strike you as something you should pay immediate attention to, it’s best to get insured before the situation gets out of hand. This will give you and your loved ones some much-needed peace of mind.

Key features of this policy:

This policy usually covers several contingencies, including

1. Fire hazard: Your property and possessions are insured if a fire breaks out.

2. Lightning: If any damage is caused by lightning impact

3. Explosion/Implosion: Your property is insured against an unforeseen explosion. If the building collapses inwards due to the failure of a system, that is also insured within this policy.

4. Human hazards like riots, strikes, and malicious damage: In case of these man-made hazards, your possessions are insured against visible physical damage.

5. Natural calamities: No one can accurately predict precisely when a natural disaster will occur. So, it gives great peace when your property is secured against these unforeseen calamities like storms, cyclones, typhoons, tempests, etc. This policy also insures you and your loved ones against floods, and landslides, including repairing your property.

6. Accidental mishaps: The repair charges are covered in the rare chance of accidental damages like the bursting of an automatic sprinkler installation.

7. Missile testing operations

8. Groundworks and other excavations

Some of the add-ons you can opt for in this policy are

1. Debris removal

2. Destruction in the event of a forest fire

3. Loss of rent

Features that are not covered:

Knowing the pros and cons of each policy before purchasing it is essential. There are a few instances where this insurance policy does not cover damage and loss to your property. These are

1. Destruction and damage caused by wars, being invaded by a foreign entity, civil war, rebellions, or in the case of military or usurped power

2. Nuclear war and allied risks

3. Pollution and contamination

4. Damages incurred due to volcanic eruptions or earthquakes

5. Damages incurred due to the loss of unclaimed precious stones or works of art

6. Acts of terrorism or militant activities

It takes a lifetime to build assets like property, so it doesn’t come as a surprise that one would want to get it insured against unforeseen misfortunes. The Fire and special perils policy are one of the most popular insurance policies chosen by homeowners, SME’s and big corporations alike. This holistic plan can protect you and your loved ones and also comes with a lot of flexibility.

You may even invest in the best HOME INSURANCE IN INDIA to protect the content of your home from incidents like theft or damage to the building. Investments that reap fruitful outcomes go a long way in safeguarding your dreams.

Click HERE to know more about the best home 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.

This is the era of personalisation. Consumers demand insurance services that can be customised according to their needs. It's no more just shop talk and several policies they need to purchase to cater to all their insurance demands. And in such saturated markets with various available alternatives, customers choose those with a customer-centric approach and excellent after-sales services.

According to various consumer surveys, more than half of the potential and current customers are willing to pay more if the customer service and customisation needs seem lucrative. This mainly involves millennials and gen z's. In that case, almost all the brands are now serving consumer needs in every possible way- content marketing, social media, products, and services.

Are you trying to understand the insurance sector's take on personalisation and centralising their services around their customer base? This blog will discuss several pointers regarding customisation in insurance industries to provide customers with precisely what they need.

1. Future analysis:
It is essential to analyse the current patterns to predict the future projections about the product, the consumer demand, and the scope for improvement with more policy features. These specific parameters are strong values that help determine your business's appearance five years later

2. Simplifying the processes:

While product-based industries will find it a little easier to customise their customer experience, the insurance sector still demands a lot of technical understanding from the customers' ends to avail of the insurance services. It makes it a little difficult for the potential consumers who are new to the insurance world and have just started adulting and taking money matters and investments into their own hands.
And a lack of technical understanding and knowledge can often lead to mistrust in the budding relationship between the insurance company and their customers. Insurance services with 24*7 human and virtual assistants, digitisation of various application processes to help people complete the procedure from the comfort of their homes, etc., have helped the insurance sector boost their customer-centric strategies and receive excellent feedback.

3. Conversations with customers:

Apart from digitising the services and making them convenient, the insurance companies need to have a transparent dialogue with their existing and potential consumers about their services and operations to curate a trustworthy relationship. The insurers need to have an informative dialogue about the markets and their
vulnerabilities so that the second party does not feel strange about the entire process. This will further benefit consumers and insurers as they can have easy conversations about various investments.

Curating reliable customer services and a dash of empathy and trust would do wonders for a better consumer relationship. Reputed insurance companies keep updating their services in line with market trends, current financial trends, critical customer demands, and personalisation options.

Customers can reap similar benefits and personalisation while purchasing general insurance plans. The introduction of technology and customer-centric strategies have made it convenient for customers to invest in their desired insurance plans. The online buying process is helping insurers and customers build a strong connection with a hassle-free process, quick response time, and no involvement of intermediaries. This digital revolution will shape the insurance industry's future for more years to come.

Click HERE to know more about how you can analyse various general insurance 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.

An estimate suggests that there are about twenty million people in the world who suffer from chronic cancer illness. Over the years, the numbers have risen, and cancer has become a common illness amongst the masses. Doctors and scientists have worked tirelessly to find a drug that can cure cancer. But with modern medicines and state-of-the-art facilities, people opt for expensive treatments that can help them combat cancer. With the treatment costs constantly rising, regular health insurance often fails to cover these treatments.

This is where cancer health insurance acts as a boon. If you are confused about what cancer insurance is and if it is beneficial to get one, then this article will help you.

What is cancer health insurance?

Insurance companies provide covers to you during cancer treatment and medication stages. This is known as cancer health insurance. This policy covers stages, including diagnosis, treatment, and post-care for all cancer stages. However, if the policyholder already has cancer, they are not liable to initiate a new cancer health insurance policy.

What are the benefits of cancer health insurance plans?

Opting for a cancer health insurance plan helps the policyholder cover various cancer stages. The premium amount can sometimes be waived if you are diagnosed with early-stage cancer. You can also opt for a monthly spread income depending upon the severity of your illness and the varying treatment requirements.

Why should you opt for cancer health insurance plans?

Compared to other health insurance plans or critical illness plans, cancer health insurance covers all costs starting from the very beginning, even in the case of first-stage cancer. Critical illness plans are targeted towards certain severe illnesses such as stroke, transplants, heart attacks, blindness, and some instances of terminal cancer.

Cancer health insurance also ensures that any complications arising due to cancer are covered. Cancer treatment is expensive irrespective of the cancer stage, so getting cancer health insurance becomes a must.

When should you consider getting a cancer health insurance plan?

Cancer is arguably one of the most dangerous diseases as there is no cure with a hundred percent success rate. So, getting cancer health insurance is imperative to safeguard yourself and your family from the exorbitant costs of treatment. However, if you are contemplating whether to get cancer insurance or not, some of these points might help you in reaching a decision. You may look for online health insurance, which will make your search more convenient with multiple options.

A recent survey has suggested a list of professionals with high cancer risk. Some of these include people working in shifts, specifically graveyard shift causing irregular sleeping patterns and uneven heartbeat, professionals in agriculture, forest, and rubber manufacturing units who are exposed to a high amount of UV rays and sun, and construction and mining workers who breathe toxic air daily are people who are susceptible to increased risk of cancer.

If you or your family members are part of such working environments or have a history of cancer in the family, you must consider getting cancer health insurance. If you do not have the money to fund your medical expenses and your regular health insurance does not cover the cost of cancer, then cancer health insurance can be a good investment.

These are some reasons to consider buying cancer health insurance for yourself and your loved ones. Do not forget to add cancer health insurance to your online health insurance profile.

Click HERE to buy online health insurance.

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.

How often have you heard the phrase intellectual property? Any creation that stems from one's mind or intellect is called intellectual property. It can take any form, starting from a painting, a design, an invention, or a tune. There is no set category for intellectual property.

An intellectual property, more commonly known as IP, is the foundation of a new creation. It is imperative to protect your IP to avoid fraudulent use or reproduction. There are many ways in which one can ensure that their ideas are not plagiarised or used without proper consent. Patents, copyrights, and trademarks are a few ways to protect IP.

Did you know that there exists an insurance for intellectual property? This article will shed light on intellectual property insurance and everything you need to know about it.

Let's understand what intellectual property insurance is:

Intellectual property insurance helps companies or individuals to cover the cost of litigation and court trials in case of being accused of IP violation. It also covers those who want to sue a company with an IP violation lawsuit. With the growing number of startups, IP has become a valuable asset. It is the foundation of a company's ethics, and a solid IP can help it reach new heights.

The increasing competition and the need to leave a mark in the venture capital market have led to various fraudulent cases of IP infringement. Since IP is one of the most valuable assets in recent times, the cost of IP litigation is expensive. Intellectual property insurance is a must to cover the cost of the exorbitant court proceedings.

Types of IP insurance:

Let's take a look at the kinds of IP insurance available –

1. Infringement defence:
This policy is for those who need to be safeguarded against a party who claims IP infringement against them. This defensive insurance policy acts as a safety net for companies that are held accountable for infringing patents, trademarks, or copyrights. Since the litigation costs for these cases can be very high, the policyholder need not worry about the costs. The policy provider is bound to make payments for all litigation expenses, settlement amounts, and other damages.

2. Abatement enforcement coverage:
This policy is for those IP holders who need assistance and resources to enforce their IP rights and claim infringement against others. This enforcement coverage enables the company to proceed with the legal proceedings without worrying about the legal fees. This policy also ensures that any damage is paid in full to the policyholder if the opposing party decides to counter-sue.

Big and small companies have claimed that the biggest challenge they face at the beginning of a new product launch is intellectual property risk. Various trade secrets, product building, and marketing strategies fall under intellectual property. IP insurance cover will protect your product in the market and help evade baseless lawsuits.

Intellectual property insurance offers a wide range of covers, including but not limited to infringement liability, contractual liability, enforcement, intellectual property rights protection, and other disputes. Add covers, and customise your insurance needs depending on the company or product you intend to launch in the market.

Over the years, we have seen various technological advancements bloom, with start-ups shaping the country's future. Putting in years of hard work only to realise that your work or idea has been copied by someone else can be one of the most frustrating and painful experiences. To avoid such situations for yourself and your company, do not forget to buy general insurance online. As discussed above, these insurances will significantly help anyone looking to claim or deny an infringement. All one needs to do is in-depth research on the insurance category to invest and look out for the best available options. Hard work has no substitute, and so does security.

Click HERE to buy general 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.

Technology has taken the world by storm, and new inventions and innovations every day are seamlessly becoming part of our daily lives. In this article, we will talk about the emerging technology trend of insurtech in the world of insurance and understand how it will change insurance in the coming times.

What is insurtech?
Insurtech is a combination of the terms insurance and technology. This term was coined to define the culmination of digitalisation, technology, and insurance. Insurtech is the modern-day solution to all insurance-related qualms and queries. Applying novel technology trends such as machine learning, artificial intelligence, and extensive data analysis has helped insurance make advancements in leaps.

What are the benefits of insurtech?
The benefits of technology have been countless over the years. Combine that with insurance, and you have diverse opportunities in the insurance sector. Not only has the involvement of technology made it a more straightforward and less cumbersome process for the policy provider, but it also has made buying insurance a quick and easy task for the consumer.
Technology intervention has aided the insurance provider in calculating the overall credibility of the customer. The mammoth task of manually analysing and decision-making by policy providers has taken a back seat as technology like machine learning has made the process faster and more accurate.

Insurance companies can now target a wider audience and cater to their specific needs while sitting miles away with the help of technology. Factors such as customer acquisition and onboarding, global expansion of business, and enhancing the user experiences help companies draw more happy customers. It also has allowed insurance companies to handle and process claims efficiently.

When it comes to the customers, what better than sitting in the comfort of your home and buying online general insurance? Thanks to AI, insurance prices are tailor-made per the customer's needs. This gives a chance for companies to ditch their standard pricing methodology and stick to a more dynamic cost analysis.

What are the components of insurtech?

Insurtech has a variety of components, but it can be broadly divided into two components –

1. Technology-based:
● Artificial Intelligence: The process of automation to yield better and more accurate results.
● Machine Learning: The collection, collation, and analysis of vast chunks of data to determine a pattern.
● Internet of Things: Objects with sensors or processing abilities that can aid in risk assessment.
● Apps: For a better customer relationship experience.
● Blockchain: To improve security and protect sensitive information.

2. Solutions based:
● Appetite Solutions: Helps to find the best policy for a client across existing policies in the market.
● Data Solutions: Easy access to personal actionable data for respective users.
● Payment Solutions: Digitised payment solutions help for a better customer experience.
● Quoting solutions: Automated quote generation, thus reducing the waiting time for customers and policy providers.

What are the applications of insurtech?

1. Customer verification:
The KYC or "know your customer" is a process that all insurance companies must follow. A huge amount of data needs to be processed to ensure the legitimacy of the customer. Insurtech has made the process hassle-free by storing data directly from the issuing authority.

2. Claim management:
With automated analysis of claim documents, standardised records evaluation is maintained and later verified by agents or policymakers.

3. Detecting fraud:
Insurtech can verify policyholders' claims and crosscheck any duplicate transaction or third-party interference to ensure that no fraudulent claims are made.

These were a list of some key elements of insurtech. As mentioned above, technology is a boon to customers and policymakers alike and can benefit both parties. Customers can also use general insurance plans to safeguard their assets with the best coverage. Checking out online general insurance plans can be a smart way to explore various options and select the ones with more advantages, good premiums, and the ones that will give the best returns on your investment.

Click HERE to know more about online general insurance.

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.

With the world going completely digital and transactions occurring primarily online now, insurance companies have also progressed and advanced technologically, enabling many options for their customers. These include authentication and verification and improved premium payments and claim processes. These advancements make the insurance procedure more convenient for the users.

The motor insurance market is one of the fastest-growing sub-group in the insurance sector. The overall economic growth and improving quality of life attributed to more people buying two-wheelers and four-wheelers for their day-to-day commute or running their businesses. According to a survey, the motor insurance sector has expanded almost six to seven times the market size.

Digital platforms are now strengthening this market grip more than ever. The digitisation of transactions has reformed the customer relationship with companies. This blog will help us navigate through the information and help us learn why insurers are suggested to carry MOTOR INSURANCE transactions digitally.

1. Instant processing and deliveries:

With the development of cloud-based platforms, the entire procedure of exploring the benefits, comparing various policies, purchasing, etc., becomes error-free and transparent. The delays also drop as compared to the conventional methods of buying motor insurance. The transparency helps the customers understand the multiple stages of the insurance process, thus allowing them to build a trusting relationship with their insurance firm. Lesser errors speed up the process and are significantly less time-consuming for consumers and insurers.

2. Cost benefits are not a myth:

Insurance companies save considerable money when they opt for digital transactions. They hold a lot of operational and workforce costs, thus reaping huge profits. Companies allocate some of the benefits for their current customers to engage them, ensure consumer loyalty, and attract potential customers into a transactional relationship. Although there are specific terms and conditions which would determine the reduced price at which you can purchase policies online.

3. Accuracy is the key:

Digital transactions allow the customers and the insurance providers to keep an accurate track of the payments. These payment receipts and logs can be proof in case of any fraudulent incidents or identity thefts. And digital transaction logs avoid the hassle of vast heaps of paper, which hold the potential for huge errors.
Accurate insurance details are always provided alongside the online payment rolls, making it easier for insurance officials and customers to keep track of the money flowing in or out of their respective accounts.

4. Improved possibilities of safety breach:

Online transactions eliminate the high risk of false selling of policies, theft, wrong identity authentication, frauds, etc. People are falling prey to scammers and are losing vast sums of money. Online transactions related to your motor insurance can be organised securely due to the elimination of a sales agent meddling in the middle.

Other perks of carrying motor insurance transactions digitally include the direct link to government apps and road safety or transportation departments of the state/central government to help them ensure that you are a responsible citizen of the nation and adhere to road safety.

This is a huge plus point regarding a background check and identity verification. Customer service also speeds up as you can send your queries, complaints, and grievances online. It is a much better method for the customer service officials to address your issues in the most appropriate way possible and with a quick response time.

Click HERE to know more about the benefits of purchasing motor insurance.

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

Motor insurance companies generally cover maintenance, damage, or even theft. If you have an insurance policy with the best motor insurance company, you can rest assured that all your bills and expenses are being taken care of by the company. However, if you find yourself in a situation where even after adequate compensation, there are still damages that need to be covered, umbrella insurance is a must for you.

Are you trying to understand the insurance sector's take on personalisation and centralising their services around their customer base? This blog will discuss several pointers regarding customisation in insurance industries to provide customers with precisely what they need.

What is umbrella insurance?

Umbrella insurance is a policy you can use if your other general insurance plans cannot cover your liabilities. From general insurance to home insurance, any insurance policy that fails to reimburse you fully for your experiences can be compensated with the use of umbrella insurance. Certain unforeseen events that lead to property damage or injury, umbrella liability coverage protects the policyholder from financial losses.

Should you buy umbrella insurance?

The idea behind umbrella insurance is debatable. More often than not, your domain-specific insurance policies cover all your insurance needs. These policies are home insurance, motor insurance, personal accident insurance, etc. However, in today’s day and age, legal obligations and liabilities are part and parcel of big and small business owners alike.

Having umbrella insurance will cover your litigation expenses and protect your assets in case of a lawsuit. If your profession or daily activities can lead you to bear costs higher than your insurance cover, investing in an umbrella insurance policy is best.

Who needs umbrella insurance?

If you own businesses that cause problems or raise liabilities for others, you should invest in an umbrella insurance policy. Tour operators, doctors, lawyers, construction managers, etc., are some professionals who should ensure that they are covered under umbrella insurance. Safety hazards in the workplace and unsafe working environments are some of the leading causes of accidents and mishaps. This makes professionals like these susceptible to lawsuits.

How much coverage is needed?

Coverage can change depending on the needs of the policyholder. But to provide a rough estimate, you need to consider the total value of assets, including vehicles, houses, property, and future scope of income. Since the requirements of your needs can vary, it is best to talk to your policy provider to get a better insight into the coverage and the premium.

These are a few things about the umbrella insurance policy that you need to know to make an informed decision as to whether to purchase this policy or not. Remember that the overall premium might seem expensive, but considering all the liabilities that might arise in the future, opting for an umbrella insurance policy would be a smart decision. Factors such as your geographical location, net worth, credit score, driving record, and profile risk analysis can affect your premium. Talk to your trusted MOTOR INSURANCE COMPANY to know more about umbrella insurance policies.

Click HERE to know more about motor insurance.

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.

Data is considered to be the goldmine in today’s day and age. When appropriately utilised, it is one of the most critical resources that can provide great insights regarding several aspects of industries, consumers, products and services, and much more. The demand for data analysts, cloud computing, machine learning, and data science experts is very high among the top skills organisations for several critical roles related to data. This helps them understand the market and current data to curate future projections about their businesses and associated clients.

Data analytics is the most up-and-coming field across all sectors of industries. Companies are investing tons of money, resources, technology, and workforce in analysing relevant data across various platforms. Through this blog, let’s understand how data and analytics are shaping the future of insurance.

1. Understanding predictive analytics:
We all make predictions about specific things based on the facts we have in hand or the experience from similar situations we might have been through. Similarly, insurance companies use predictive analytics as an integral method to predict patterns and trajectories regarding various parameters. Predictive analysis is an umbrella term comprising multiple methods like data mining, statistical analysis, data configuration, predictive modelling, artificial intelligence, machine learning, etc. These techniques help the insurance companies generate reports that would then provide analysis and information about several risks, policies, consumer behaviour, and future revenue and business projections.

2. How to make sure that your “flight-risk” consumers stay:
Insurance companies try to identify consumers with immediate cancellation tendencies, high premium possibilities, or lower coverage. These potential customers require special attention and care from the insurers to convert or stay their customers.
Data and analytics reports can help insurance organisations identify the areas of concern that need attention and how the services can be improved from the consumers’ perspective. Advanced insights, reports, and patterns can help insurance companies analyse the pain points and friction between the organisations and the customers. This aids them in making the improvements and offering the best deals for their customers, which won’t be a loss-making situation for the company.

3. Personalisation is the key:
Customers want services and products tailored according to their demands and the trends in the current market. Making the services more consumer-focused helps the insurance companies eliminate the competition and gain more customers.
Personalisation is directly related to consumer loyalty which benefits organisations greatly in the long-term projections. Customer retention costs are pretty less compared to the expenses of customer acquisition. Fewer businesses and brands focus on customer retention and implement marketing gimmicks but don’t get desired results. Personalisation is the answer to your customer retention and consumer loyalty equation here. Data analytics help you identify the red flags when rating the customer satisfaction provided by your insurance company. This allows the insurers to understand the market trends, how consumer demands are changing, and how they can bring their services up to the mark. The red flags can turn green based on the current reports, the future projections, and the options and techniques which can be implemented to achieve the targets and results.

Other ways in which data and analytics are revolutionising the insurance market include fraud detection, risk and mitigation measures, managing workforces, determining premiums and dealing with insurance claims, and much more.

Customers are advised to purchase GENERAL INSURANCE to ensure their financial assets are protected, and they can earn some profit even during financial losses. You can explore all your options and determine a general insurance company with high market credibility, attractive premiums, and an excellent claim settlement ratio.

Click HERE to know more about how you can find your ideal general insurance company.

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 is home to some of the best healthcare facilities in the world. Be it some government hospitals or super-specialty hospitals, they are equipped with state-of-the-art facilities and highly skilled doctors. However, with the rising costs of treatments and healthcare, buying health insurance is necessary for everyone. Even with all the facilities, timely treatment is often not easily accessible, so people keep turning to premium healthcare.

Super-specialty hospitals promise premium services at the cost of steep expenses, and most people from middle-class backgrounds cannot afford these treatments. This is also the reason why most people invest in health insurance. But, with increased services, the cost of premiums will also significantly rise.

If you want to reduce your health insurance premium without compromising on the services, this article is just for you.

1. Start early:
Since most health insurance plans consider your age and medical history to calculate premiums, starting early can save you a lot of money on premiums. A younger body has a better immune system, and thus the risk of diseases or illness is significantly low. If you are someone who has already been diagnosed with age-related issues such as diabetes, blood pressure, or other heart conditions, then your premium amount will also increase. To ensure that you are getting a policy at the best rates, start early and invest in the best health insurance in India.

2. Online health insurance:
Online health insurance has a lot of benefits, but the most significant of them is how cost-effective it is. With online insurance, you can avoid broker fees and other administrative charges. You also can buy health insurance from anywhere, with the freedom to choose the desired policy by comparing multiple plans.

3. Compare plans online:
There are many health insurance policies in the market and deciding on the one that suits your choices can be overwhelming. But in the long run, having an informed idea of various aspects of your insurance policy will be helpful. You can compare insurance covers, premiums, and add-on costs online. With the internet at your disposal, comparing various insurance companies is a smart way to ensure that your company is not overcharging.

Another great alternative is to use the online insurance calculator. Different companies have a calculator that helps you calculate the overall cost of your insurance. Once you enter all the covers you need, this calculator will give you a rough estimate of your health insurance plan. Compare different prices online to choose the best option for you.

4. Extended validity:
Most insurance plans have a validity of one year. However, some companies provide significant discounts on policy periods of two to three years. Not only you reap the benefits of fantastic deals but getting a policy that extends to three years also helps you evade the annual renewal costs on your policy.

5. Family plans:
Health insurance is mandatory not just for ourselves but also for our families. However, the cost of buying health insurance for every family member can add up to a lot. This is why insurance companies have initiated family health insurance plans. Family plans provide comprehensive coverage to your family members. A family insurance plan is a smart way to cut costs on individual premiums while also maintaining the scope of various covers.

These are a few ways in which you can ensure cost-effective insurance planning. Thorough research on different insurance companies and their policy plans can help you make an informed decision that suits your budget and provide maximum coverage. Remember that health insurance is essential, but what is more important is to take good care of your health. Regular exercise and healthy eating habits are a simple start to leading a healthy and happy life. Invest in the best health insurance in India for your loved ones to safeguard yourself against any expenses you might incur in hospital and medical bills.

Click HERE to buy the best health 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.

The time of a health crisis is a vulnerable time for you and your loved ones. And this moment of panic is where most frauds occur, where mischievous minds exploit your vulnerability with their fraudulent strategies. Everyone can't look into the small details of fraud unless they understand how it takes place beforehand.

Medical emergencies are a time of great financial insecurity. A lifetime of savings can be drained due to your loved one getting into a sudden accident or the unexpected detection of chronic disease. In this time of need, health insurance is a great boon. It can provide you and your dear ones with much-needed protection from financial disaster. However, it is imperative to have the correct information to avoid falling into the trap of health insurance fraud. You won't ever want your hard-earned money to go to waste by falling prey to frauds or scams.

This blog gives you some pointers you can keep in mind to safeguard yourself from health insurance frauds.

Most common types of fraud:

Before getting into how to protect yourself from this deceit, here are some of the most common ways people can swindle money from your health insurance policy –

1. Medical identity theft: This type of fraud involves scammers using your personal information to charge fraudulent bills or make health insurance claims in your name.

2. Marketing scams: If you do not do adequate research about the company's reputation and decide to buy insurance, it may result in the company taking a high premium from you but not responding to any claims. These companies give out forged insurance documents to individuals and then become untraceable.

3. Ambulance fraud: Holding the spot of being the most overlooked type of fraud, ambulance fraud comes in the form of unnecessary charges and facilities you might not have taken, paying huge dividends to scammers.

Tips to safeguard yourself from scammers –

1. Take your time: The biggest red flag in an insurance company is when they ask you to make hasty decisions. Avoid schemes that promise you a lesser premium or better claim if you sign immediately. It is advisable to take your time with the decision-making process and be sure what kind of policy is necessary for you.

2. Be wary of unsolicited calls: Reputed insurance companies rarely call individuals to market their health insurance policies; if they do, they never pressure a customer. Be cautious of aggressive salespeople. However, even if the salesperson seems to be from a reputed company, you must never share your personal information or documents without proper research about the company.

3. A hard copy of policy and seller's signature: Request a copy of the policy they offer, complete with the company's seal and seller's signature.

4. Extensive research on plans: Become familiar with the kind of plans that insurance companies usually offer. This will help you be aware of unsolicited advertisements to sell insurance policies. Understand that if something is too good to be true.

5. IRDA licence: If an agent does not have an IRDA licence, there is a higher probability that they are a scammer.

6. Avoid online transactions: It is safer to avoid sending any money online to the agent upfront unless it is an IRDA licenced insurance firm.

Researching a quality health insurance policy is already a demanding process. The process is complicated, from finding a good plan to cover all your needs to looking for a reputed doctor in an emergency that your insurance covers and then claiming the insured amount. This is when people are most susceptible to getting scammed by fraudsters.

Be careful while opting for a health insurance policy, and always remember to read the fine print. Always buy from genuine insurance firms and avoid the manipulative sales tactics of agencies. Rely more on your personal research for buying the best health insurance and guarantee yourself trustworthy and reliable protection.

Click HERE to know more about health insurance.

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.

The tyres and wheels of your car are one of the most used external parts. They sometimes outperform their original capacity resulting in wear and tear due to rough surfaces. If left unnoticed, this can risk the safety of the passengers. So, you must ensure that your tyres are up to the standards as per the regulations set by the manufacturer, the road safety department, and the respective car company.

But what happens if you are facing issues with just one wheel? Do you have to go through the process of replacing all your wheels with new ones? What factors should you be watchful about, and how can you procure used wheels? Don't worry. At the end of this blog, you will know if it is worth buying used wheels or not. So, let's get started.

1. Why do we think it can be worth buying used wheels:
Purchasing used wheels is a good option if your four-wheelers have damaged wheels. This is a significantly cheaper and temporary option than buying a new set of wheels. You can comfortably use those used wheels without burning a hole in your pocket.

2. Understanding the quality of used wheels:
It would be best if you examined the used wheels closely. Be aware of all the cracks, dents, bends, or if any parts and pieces are missing. Surficial damages which are not causing any defects internally can be ignored. There might be issues with the structure of the wheels and rims, which can risk a puncture or blowout on uneven roads and at high speeds.
You can go to a junkyard where they sell used parts. But if you want to avoid the hassle and get quality used wheels and other components, visit an auto parts store that can provide you with top-quality used wheels.

3. Examining the used wheels for damages and defects:
A thorough visual examination is one of the best ways to determine the quality of the used wheels. The second solution is to take a test drive with those wheels. But there are situations where you might not be able to take a test drive, miss out on certain damages, or fail to understand the gravity of what might seem to be surficial damages. You should know other ways to inspect those used wheels in such cases.
If the wheel's outer rim has visible cracks, bends, or dents, it is more likely to get damaged, which might eventually cause a flat tyre. Examine the wheel for corrosion, rust, chipped paint, etc. Used wheels with improper or defective bolt holes should be immediately rejected. Test the wheel by rolling them on an even surface and avoid using them if you see any wobble, misaligned or sideways movement. This usually happens when the wheel is bent but could be difficult to notice during a visual examination.

4. Check the material:
Steel works quite well but affects the car's speed and acceleration since the material is heavy. People often use alloy rims as they are considered a good combination. It upgrades the look of your vehicle to give it a more sporty vibe, gives you a better driving experience, and eventually, helps you save fuel and money. You need to check the tyres' material and immediately reject used wheels with slight damage, corrosion, or rust.

Now you know if it is worth buying used wheels or not. And while we are considering wheels and their alternatives, a sudden accident or ending up in unfortunate circumstances can cause severe damage to your car. Getting those defects fixed can cause a substantial financial burden in times of distress. You need to purchase car insurance which would help you cover the massive costs of fixing and repairing in complex cases. You must explore all your options and buy reliable car insurance India with a reasonable premium and the best benefits.

Click HERE to learn more about the benefits of car insurance 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.

The covid-19 pandemic put the whole world to a stop. Various global operations halted; people were panicking and clueless about the situation. And amidst all this, business suffered a huge loss until everything found a place, and there was some clarity which helped put a lot of functionalities back on track and slowly sped them up. To combat the widespread of the infection, organisations started offering their customers an option of "no contact deliveries" or "contactless services," which was a revolutionary step for the safety of their consumers.

Are you looking for information about any procedure that can be contactless and help you with your car insurance, for example, renewing it? It is essential to ensure that you update your car insurance policies on time to avoid extra penalties and avail of the full benefits without any hindrance.

In delayed renewals, it will be a tedious process to be able to claim and get the appropriate help and compensation from your designated insurance companies. So, it is vital to be mindful of your policies, your rights, the documents you might need, your premiums, and most importantly, the renewal dates of your insurance.

This blog will discuss the zero-contact process of buying and renewing car insurance.

1. What does the zero-contact process mean?

In the case of contactless insurance, you have a scope of purchasing the insurance without meeting any officials from the insurance company. The whole procedure involves digital methods for verification, details, and documentation through mobile apps, the website of the designated insurance organisation, video chat applications, etc.

2. What do you need to do as a consumer/potential customer?

You can compare and measure the benefits of various insurance policies from different companies, research the plans, the premiums, the coverage insurances provide, grace periods, renewals, add-on benefits, etc., before arriving at an informed decision and choosing the plan you want to purchase. And surprisingly, you can do all this from the comfort of your home, one of the significant advantages of contactless services. Thanks to technology!

3. How can you buy motor insurance online through the zero-contact process?

The online option will allow you to avail yourself of the zero-contact aspect of purchasing car insurance to protect your car against damages. You, as a customer, connect with the insurance personnel through virtual platforms. You may download the designated mobile application or go to the insurance company's website, choose the appropriate options, select the plan, upload the documents as per the instructions, and get them verified. For identity authorisation and verification, you might have to video chat with the official or to the developed chatbot, which will further provide instructions on how to proceed. You will have multiple options like UPI, net banking, cash, debit and credit cards, etc., to accomplish the payment process.

4. What are some benefits of contactless insurance?

You can avoid risks of covid-19 infections, online availability (24X7) in case of any queries and help, video calling options for a personalised touch, and zero commission services to avoid fraud or involvement of an untrustworthy third party. You also need to ensure the add-on benefits, get a customised insurance policy, set the desired Insured Declared Value (IDV), the zero-depreciation value, etc.

This was all about the zero-contact process to buy motor insurance online or renew an existing policy. We hope this information will help you understand the details of the zero contact procedure and why it is beneficial. You must keep the above-discussed pointers in mind and carefully consider them before choosing the policy. Also, avail the benefits and buy motor insurance online. This way, you not only ensure the safety of your car but also reduce the risk of infection by eliminating the physical visit to the insurance company or agent.

Click HERE to know more about how you can buy motor 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.

Ever wondered why you don't feel jolted every time you apply the brakes on your car or take a sharp turn to the side? It's all thanks to the car bushes.

Car Bushings are cushions made up of rubber, polyurethane, neoprene, or other materials. They're mainly mounted on car suspensions and steering joints. Their primary responsibility is to ensure no abrasions in the metal suspension framework due to the contact between them. They also give the driver maximum comfort by mitigating road bumps and controlling the degree of movement in the joints.

The car bushings are mostly made of rubber. Typically, rubber bushes are structured in the form of a cylinder between the two parts of metal. This rubber is usually vulcanised rubber.

Car bushes are essential for the smooth functioning of your car. This blog sheds some light on car bushes and their need in a vehicle.

Applications of bushes:

• Improves safety and comfort: Car bushings support the mechanism to make the ride comfortable for the passengers in the car. They are crucial in positioning and aligning various suspension and steering components.

• Reduces damage caused by vibration: Repeated vibrations can cause abrasions to your vehicle's suspension system, which contributes to its weakening. Car bushing minimises this wear and tear, thus increasing the car's life

• Making the ride less noisy: The rubber used in bushes can reduce vibrations and thus reduce the need for lubrication. This makes maintenance easier and simultaneously makes the vehicle less noisy.

• Bushing provides a stress-free and long life to the vehicle: Like cartilage in a human body, bushings protect the joints and connected parts of the car from shocks to the car. This increases the longevity of the car and the lesser probability of your car facing damages.

Advantages of using Rubber bushes:

● Rubber is the most widely used material in car bushes. As rubber is a readily available substance, it is inexpensive and readily absorbs most noises and vibrations transmitted by various objects.

● One of the main advantages of using rubber bushes as cushioning in vehicles is that it's never a bad fit for a vehicle. They are suitable for all types of vehicles and can be used as cushions for engines and gearboxes.

Disadvantages of using rubber bushes:

● Although very widely used, rubber bushes come with certain limitations. They tend to deteriorate when exposed to heat, air, and especially oils. Over long periods, this exposure can result in the rubber material cracking and wearing away.

An alternative to rubber bushings is ones made out of neoprene. It looks like rubber but is a synthetic substance derived from polymerising chloroprene. It is much more robust than rubber and is better suited to bushings. Neoprene can withstand high temperatures without physical damage.

While extremely simple in design, car bushings play a vital role in suspension systems where vibrations are problematic. They are significant and should be replaced timely to avoid abrasions in your car's system.

We discussed how car bushes can help you control your car's braking. Their applications can assist you in the smooth handling of your car and avoid the risks of accidents. However, the maintenance and upkeep of these integral parts can be daunting sometimes. The solution to this is to buy new car insurance. Ideal car insurance provides several benefits to avoid spending hefty amounts on car maintenance. The new way of budgeting while ensuring security can be possible by making the right investment.

Click HERE to know more about how to buy new car insurance.

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.

Monsoons in India are the perfect season for wanderers to move out and explore places. With the slight drizzles and the perfect rainy-day playlist playing, it would be like a dream travel sequence come alive. And if you are a bike fanatic, you would agree that this weather is the perfect time to take your bike for a ride to get that much-needed break. Enjoy the valleys, the lush greens and the hills in the lap of nature, away from the chaotic hustle and bustle of the fast-paced city life.

Are you someone who lives around Mumbai or is planning to visit Maharashtra? If yes, we have curated the best places for you to make your road trip successful. This blog will discuss top destinations around Mumbai for a perfect bike trip in the monsoon. We have included all the details you need to check out and add that destination to your travel itinerary.

Whether travelling solo or with a companion, these locations will give you every opportunity you can grab to enjoy the rains and create memories for a lifetime. So, let’s get started!

1. Lonavala:

Lonavala has to be on our list and yours too. The forever obsession with the lush greens and the overall beauty of this place has not just mesmerised people in the state of Maharashtra but from every nook and corner of the country. You can take the old Mumbai-Pune highway to enjoy that bike ride you’ve been craving for.
And there is a list of beautiful places you can visit, starting with Korigad Fort, Rajmachi Fort (about fifteen kilometres from Lonavala), Tiger’s Leap, Lonavala Wax exhibition, Duke’s nose, Lohagad and much more! And, as Lonavala and Khandala are just five kilometres apart, you can head to Khandala and experience all the natural beauty of the valleys, waterfalls, etc., the place has to offer.

2. Mahabaleshwar:

The second most known and attractive destination in the Maharashtrian region is Mahabaleshwar. Being one of the longest driving routes near Mumbai, you can take your bike and let the wind do the talking. And if you are someone who always looks for a hint of adventure during their trips, then make sure to visit Panchgani (not very far from Mahabaleshwar) and grab the opportunity to experience paragliding.
Enjoy the surrounding views of the location wrapped in the foothills of nature from a height. The main attractions of Mahabaleshwar include strawberries and mulberries market, Three Monkey Point, Needle Hole Point, Wilson Sunrise Point, and much more.

3. Matheran:

The ride from Mumbai to Matheran is quite beautiful. Feel the calm and peace through your veins with a cold breeze against your skin. Unwind yourself while riding and feel energetic. As you reach Matheran, you will notice the absence of automobiles as the hill station is an automobile-free zone.
But don’t worry, you will have a lot of hand-pulled or horse-pulled rickshaws to take you around this marvellous and endowed with scenic locations which offer you the views of a lifetime. You can also plan to go on a trek to Matheran and have quality time with yourself or your company in the middle of the large trees and hills. The main attractions of this location include One Tree Hill Point, Louisa Point, Porcupine Point, Panorama Point, etc.

Other destinations making it to this list include Malshej Ghat, Durshet, Sula Vineyards, Pelhar Dam, Igatpuri and Alibaug. Remember that your bike is well serviced and has valid insurance to have a comfortable and memorable bike trip. Make sure to fit these important aspects into your travel schedule. While we are already talking about bike trips, purchasing the best two-wheeler insurance in India is a wise option to ensure your bike is safeguarded against all unforeseeable circumstances. The monsoon is here! Get your gear, pack your bags, and push the pedal towards serenity.

Click HERE to know more about the benefits of purchasing the best two wheeler insurance in

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.

Have you ever been riding your motorcycle in the crisp morning air, enjoying the cool wind on your face, and had a bug smack you right in the face? Although it makes for some good comic relief, it is one of the most annoying experiences a rider can have. The solution? Motorcycle windshields. A windshield is installed to deflect the wind from hitting your body while enjoying riding at high speeds. It also helps by providing the rider with a better aerodynamic outline than the body.

This blog gives you a better insight into motorcycle windshields so you can decide if it is a worthy addition to your motorbike.

Pros: 1. Wind protection

Motorcycle windshields help protect you from the wind blast to your face and chest. Mitigating the wind force against your face and chest helps combat back, arm, and neck pain. Less pressure on your body will result in a comfortable ride. If you're planning to ride your bike for more than a few hours, this tool will pay great dividends by the end of the day.
The windshield will divert hot and humid air in the summer and chilled and wet air in the winter. Although it cannot substitute for a good few layers of clothes, it also reduces wind chill when speeding down a highway. Similarly, windshields protect you in hot, dry weather as well. When driving down the roads at high speeds, your sweat dries up faster, resulting in dehydration. Dehydration can cause serious health issues and can put a damper on your driving experience.

2. Better aerodynamics

The stability of the bike decreases when there is drag in the air. When cruising down roads at high speeds, the body creates a fair amount of drag. Fortunately, one of the benefits of having a windshield on your motorcycle is that it makes a better aerodynamic outline than the body, resulting in less drag.

3. Less fatigue

The reduction of wind blasting helps reduce fatigue over long distances. Keeping your posture upright while the wind pushes into you seems like effortless work over short distances, but over long periods, it might be the reason you feel burnt out.

4. Debris protection

Debris gets kicked up by passing vehicles all the time. Your motorcycle windshield can protect you from this and make the ride much more comfortable.

5. Reduce wind noise

The sound made by the engine usually enhances the experience of riding a motorbike for bike enthusiasts. The purring of the machine is generally deafened by the wind noise at high speeds, which diminishes this experience. Motorcycle windshields can solve this problem of wind noise.

Cons:

The biggest and possibly the only downside to a windshield is its uncool and dorky look. A windshield makes a bike look less sporty, and many people find that very frustrating. Also, who wants to see their bike's dirty, scratched-up windshield?

Another con might be reduced visibility right in front of the motorcycle due to the windshield being tinted or dirty. This is a huge distraction and can cause accidents. The pros overwhelmingly outweigh the cons of installing a windshield. Especially in harsh weather conditions, these can be a lifesaver and can pay great dividends for a small investment.

The pros overwhelmingly outweigh the cons of installing a windshield. Especially in harsh weather conditions, these can be a lifesaver and can pay great dividends for a small investment. As we talk about investment, there's one more investment that you need to consider as a bike owner. Purchase reliable bike insurance to add an additional safety net to your two-wheeled friend. Consider buying 2 wheeler insurance online and save time and money in return for value-added benefits.

Click HERE to know more about buying 2 wheeler 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.

Technology has constantly been evolving and has been instrumental in all the big and small changes happening in the world. While there is a constant debate as to whether technology is a boon or a bane, it cannot be denied that our lives have been made easier by the many technological advancements made by humans. In today's age, everything is data-driven.

Starting from your date of birth to the last place you swiped your credit card is monitored and constantly fed to databases. Owing to the ever-growing gap between consumers' need to work and the ease with which they can achieve it, technology has taken centre stage and paved the path for accessible, hassle-free experiences. One such area is motor insurance. The rise of new technology has made its way into the world of insurance and is revolutionising services and interaction.

This article will discuss the emerging technology trends to change the motor insurance world.

1. Artificial intelligence:

The words artificial intelligence or AI are casually thrown around in everyday conversation. What is AI, and how is it changing motor insurance? In layman's terms, AI is the intelligence used by machines to undertake human-like tasks faster and more efficiently.
With the intervention of AI, insurers can meet the consumer's needs more quickly. AI is capable of finding unique tailor-made solutions to suit all your insurance needs. Insurers can access reports and data faster, thus speeding up the whole process.

2. Machine Learning:

The building blocks for artificial intelligence, machine learning is responsible for accessing, analysing, and modelling large chunks of data. A single run on these machine learning models can give a detailed analysis of every aspect of a person's life, given they have the data— pre-programmed algorithms to improve processing speed and yield accurate results. With machine learning, queries and identification can be made faster and effortlessly.

3. Internet of Things (IoT):

The concept of data privacy is lost on many people. People willingly give extra information if it means they can cut the prices. An extension of machine learning models and artificial intelligence concepts, IoT can process large amounts of data and automate the sharing process. IoT can also aid in risk assessment and mitigation to directly manipulate the new car insurance rates and the annual premium.

4. Chatbots:

Chatbots give you a human-like experience. With chatbots being used to their maximum potential, many insurance-related queries and doubts will be handled using these advanced bots.
Chatbots can efficiently communicate with customers; if they cannot solve a query, it will be forwarded to the person in charge. This helps everyone stay in the loop while not wasting time and resources. This produces fast and effective outcomes while assuring great on-the-go customer support.

5. Insurtech:

Insurance and technology together make insurance companies. They use the latest technologies to mitigate the insurance cost for customers and insurers. All the technologies mentioned earlier by insurance companies can revolutionise customer relationship management. They can use such tools to develop products that can help risk management and mitigation.

These were just a few of the many new technology trends that will take the world by storm. The rapid resurgence of technology can be scary and intimidating. Trusting technology-driven solutions might take some time for the common people, but the important thing to understand here is that technology can be a great friend if used correctly.

In the future, technology can assure surprising advancements in the insurance industry, which may promise new car insurance rates that will sit right in your budget while giving you the best covers and add-ons.

Click HERE to check out the new car insurance rates in the market.

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.

Owning a vehicle is a dream for many. In recent times, a vehicle has become a necessity. Be it a quick run to the nearby grocery store or taking road trips during the weekend, automobiles have become the new favourite investment for most people. Since the prices of cars and bikes are increasing daily, potential buyers are forced to have a second thought. While some people opt for loans or EMIs to pay for their motor vehicles, others prefer using second-hand cars.

In India, it is illegal to drive around without motor insurance. As a second-hand vehicle owner, transferring the insurance and understanding the nuances of the same can be challenging and intimidating. This article is here to help you understand the process better so that you can drive around worry-free.

Why is it essential to transfer the insurance policy from the previous owner to the current owner?

If the insurance ownership is not transferred to the new owner, then according to the law, the new owner can be charged legally. Not only that, if the vehicle were involved in an accident without having the name on the policy papers, the new owner would not be able to make any insurance claims. Without the insurance cover, the owner will be liable for all financial costs arising from an accident.

Let's look at the steps involved in transferring insurance ownership from one owner to another:

1. The vehicle's former owner must write an application to the RTO upon selling the bike.

2. Fill out a form at the RTO and submit RC, emission certificate, insurance papers, and fitness certificate.

3. Do not forget to carry valid IDs and passport-size photographs of the applicant.

4. The applicant must submit forms 28 (No objection certificate) and 29 (states the selling and purchasing of the vehicle between two parties) to the RTO.

If the buyer and the seller live in the same state, then report the transfer of ownership to the RTO within two weeks of buying the vehicle. The report must be made within forty-five days if both parties do not reside in the same state.

If selling an old vehicle, the seller must provide all details about the buyer and the bike to the motor insurance provider so that they can stay informed and updated.

After you visit the RTO where your bike is registered, you will need to submit a few forms along with the insurance papers and other required documents. The insurance provider might check the vehicle to ensure if it is in working condition and issue a fitness certificate. After submitting all the files, the RTO will verify and transfer the insurance to the new owner.

What are the benefits of insurance transfer?

1. If the new owner causes an accident, they cannot hold the seller accountable as the insurance papers are in the name of the new owner. This way, you can evade litigation and accountability for the damages caused.

2. NCB: If you have not claimed your vehicle's insurance before the transfer of ownership, then you are qualified for a No claim bonus. During the insurance transfer, you can collect a certificate of eligibility for NCB that can be applied to your following policy.

These were a comprehensive list of all things to remember while undertaking insurance transfers. As mentioned above, the seller and buyer can reap benefits from an insurance transfer. Do not forget to initiate the transfer as soon as possible to avoid legal hassles and financial obligations.

Remember to check out other benefits of policy transfer with your motor insurance provider and ask if there are options for add-ons to the existing policy. This will help you safeguard your vehicle as per your needs.

Click HERE to find out more about motor insurance.

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.

Car insurance costs can vary significantly depending on various factors. The total price you give at the beginning of policy renewal is the cost of the car insurance. In this article, we will look at a few factors responsible for the total cost of your car insurance.

1. The model of the vehicle can significantly determine the cost of your insurance. The more the market value of the car, the more will be the insurance cost. If your vehicle has good engine capacity, advanced technology, and electronic features, the overall cost of your insurance will be higher.

2. The geographical location is a lesser considered factor when it comes to car insurance. If your location is the face of extreme weather conditions such as rains and cyclones, then it is likely that the costs will increase. These are not just limited to natural calamities. Human-made disasters like riots and vandalism also fall into this category. Areas prone to riots and destruction can lead to heightened insurance costs.

3. Driving records are one of the most crucial factors that decide the cost of your premium. If you have a clean track record with no accidents or speeding tickets, then it is highly likely that your insurance costs will reduce. If it is proven that you are a responsible driver, then it automatically translates to lesser chances of accidents and danger. On the other hand, even if you have one ticket or one accident under your belt, the insurance costs can drastically change.

4. Suppose you have never raised a claim or are eligible for a no-claim bonus when you sign up for your online motor insurance renewal. In that case, insurance companies will provide you with a hefty discount on the insurance costs. If no claims have been made so far in your tenure, it proves that you are a responsible driver and a car owner. All these are extra points that the insurance companies consider while calculating the final cost.

5. If you have opted for voluntary deductibles, then the overall cost of the insurance falls automatically. However, this will not be possible if you take third-party insurance. Ensuring that you as an owner will pay a pre-determined amount in case of accidents and damages is a sign of assurance that you will not partake in malpractice to take unlawful benefits of the insurance system. Due to this, insurance companies will provide you with a low-cost insurance policy.

6. Digital insurance is the new policy in the market. With everything digitised, companies can cut costs on operations. Hence, they can offer better policies at lower price points. Consider opting for an online motor insurance renewal to understand digital insurance better. You will get a perfect walkthrough of the online procedures.

7. The type of fuel that you use in your vehicles can also determine the cost of car insurance. If your vehicle runs on CNG or diesel, then the cost of insurance will be more than that of cars running on petrol. Not only that, but the mileage also decides the overall cost of your insurance. These factors contribute to the overall IDV or the insured declared value. The higher the IDV, the more the cost of car insurance.

These are some of the factors that affect the cost of the car. Remember that proper maintenance and aftercare will help your vehicle run smoothly for an extended period. You must provide timely maintenance and servicing to keep your car working correctly and efficiently. Add more value to your vehicle by investing in good car insurance offers available in India. If your car insurance is about to expire, let this article remind you to opt for online motor insurance renewal for a contactless and hassle-free experience.

Click HERE to find out more about online motor insurance renewal.

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.

How often have you forgotten your spectacles at home and had difficulty recognising people's faces from a distance? These are some of the widespread yet frustrating problems people face with glasses. One of the most convenient and revolutionary technologies for solving this problem is laser eye surgery, popularly known as LASIK surgery.

With about a quarter of the world facing vision problems, it's not surprising that laser eye surgery is becoming increasingly popular. This blog aims to give you an insight into this technology and how it is revolutionising the world.

The need for LASIK:

When we look at a particular object, light from that object enters the eye and passes through the natural lens of the eye. This natural lens is responsible for correctly refracting the light to hit the retina. The eye's retina is responsible for focusing all the light and sending signals to the brain to help us interpret what we're seeing.

When light does not focus upon the retina correctly, vision can get blurry. This might be because the cornea isn't curved perfectly, or it can be because the eye lens present in our eye is slightly longer or shorter.

This refractive procedure is usually done to correct one of the following three vision problems: Myopia, Hypermetropia, and Astigmatism.

How does LASIK work?

Laser surgery is a procedure where the patient's cornea is reshaped by using an evolved cutting laser technology to help it refract the light to provide clear vision. Corneal reshaping is done by mapping the entire cornea precisely and then using this to plan the surgery accurately.

Pros:

1. Quick and safe – The most inviting aspect of this procedure is that it is a short one. LASIK takes only 10 minutes to mitigate your vision problems for each eye, so 20 minutes total to have perfect vision. It is also a very safe procedure, with 98 percent of people satisfied with the surgery's results.

2. Painless procedure – This procedure is entirely painless due to the eye drops your surgeon will apply at the beginning of the operation. Moreover, there is minimum post-operative pain, with no stitches or bandages required after LASIK.

3. Fixed cost – While the procedure is cumbersome on the wallet, it is a one-time investment. Glasses and contact lenses are cheaper than surgery, but they are building expenses with the cost of regular eye check-ups, lenses, and frames. However, there's a good chance LASIK is not covered by your insurance. Research online health insurance to find one that does.

4. Enjoy your favourite sports without fear – For many people, this surgery is not an option but a lifesaver. Whether you want to enlist in the police, army or play contact sports where wearing glasses is not an option, LASIK is the knight in shining armour if you don't want the hassle of carrying your lenses and lens cleaning solution everywhere.

Cons:

While this procedure has numerous advantages, there are some drawbacks too. You need to take several things into consideration before taking this big step. It is a huge investment and might burn a hole in your pocket if you're not ready. Like any other surgery, there are risks and side effects involved. Some side effects include dry eyes, a halo effect with bright light, and poor night vision. Consult your eye specialist before making any decision.

Although laser eye surgery is relatively quick and painless, you must take proper precautions. Avoid using any eye makeup or lotions around the eye for about three days before the surgery. Also, make sure to arrange a ride back home because you might not be able to drive right after the surgery due to blurred vision and the sedative. As most insurance plans might not cover the cost of laser eye surgery, it is best to research online health insurance to understand the terms.

Click HERE to know more about online health insurance.

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.