GENERAL INSURANCE BLOG

Insurance plays an essential role in a person's life and safeguarding hard-earned assets, whether a home, car or business. It is a backup plan to minimise the loss and have efficient damage control when things go wrong. Although most people know the benefits of buying insurance, they often make mistakes due to insufficient knowledge in this field and a lack of in-depth research. Several false pieces of information circulate and get viral on the internet, confusing the buyers, which results in wrong decisions.

In the article, we'll learn about home insurance and people's general queries regarding making the right purchase. Like other insurance products, home insurance pays you for the construction costs and covers the damage due to any unfortunate event.

However, there are numerous things that you need to learn before buying insurance for your home. Before starting your personal research or contacting your desired general insurance company, pen down all your points and doubts. Never take haste steps, and keep control of the entire process in your hands.

Consider these five most frequent questions that ensure you choose the right home insurance.

1. What factors determine the premium on a home insurance policy?
Generally, factors such as location, features, and characteristics of your house determine the insurance policy's premium. Installation of safety and surveillance devices, claims history, and lifestyle habits also affect the policy's premium.
The closer your house is to an area that experiences frequent natural calamities or robberies, the higher it costs to insure it. You can lower your premium if you have good credit history and haven't made any claims. You can also ask your insurance agent how they determine your home's premium to ensure you pay the right premium.

2. What are the replacement costs and the market value of your home?
An insurance company is only interested in your home's replacement cost. You should ask your insurance company about the replacement cost of your home. It is the cost of constructing your house with the equal or similar utility if it was damaged in any unfortunate event. In contrast, your home's market value is your house's price in the real estate market.

3. What does cancelling a home insurance policy mean?
Cancelling an insurance policy means the company no longer covers the insured house. Policyholders and companies can cancel an active policy. Ask your insurance agent when their company can cancel your active policy. Carefully understand all the clauses and possibilities that may void your home insurance.

4. Are there any limitations in a home insurance policy?
Most home insurance policies don't cover losses due to the earthquake or war. Check the list of exclusions on your insurance policy before you get it. However, some policies have specific limits for items, including securities, jewellery, money, and silverware.

5. Does the home insurance policy cover water damage?
Most policies don't provide coverage for water damage. If your general insurance company doesn't offer water damage coverage, you can ask for other policies or add-ons that cover water damage to add more protection to your house. It would be best to look for water damage coverage in the policy, including damage from the spring thaw, snowmelt, burst mains, overflowing rivers, and heavy rains.

Make a list of these five crucial questions before considering any home insurance plan. These questions help you select the best general insurance company. You can also add more questions to your list. Don't forget to ask for a discount when buying multiple insurance plans together. Buy smart and buy the best!

Click HERE to buy home insurance from a general insurance company that suits your requirements.

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.

While we live in a more digital world, it's natural for our elderly population to feel left out of meaningful conversations. Many young individuals also find themselves in the self-imposed isolation of the virtual system.

With age, bodily functions are hampered, and our elders don't have the energy as before. Their mental health also takes a toll and is impacted because of the fear of being unable to match with the current generation. The increasing age draws anxiety and health problems, making elders feel lonely and less productive. It is important to consider the elderly who may be alone and far from their children and other loved ones.

Do you have older parents at home? We have listed some measures you can take to lessen the loneliness your elderly parents may feel.

1. Get them out with people:
Social interactions decline with age. The seniors among us can attest to this truth more than anyone else. Their isolation can be alleviated by encouraging them to interact with others. Sometimes, interaction with new people might lead to lifelong friendships. Age shouldn't be a barrier to meeting new people and making new acquaintances. While making new friends is always exciting, a downpour of old memories comes with existing friendships.
Parents have lived longer, so it is natural for them to have lots of anecdotes to share. It just takes someone to listen for them to feel better. So, don't miss out on listening to their stories. Research shows that when seniors are provided opportunities for introspection, they report higher levels of satisfaction with both their lives and the world at large. By learning to control their feelings, they will become warmer, friendly, and, most importantly, less lonely.

2. Encourage for plant / pet:
You can lift seniors' moods and enrich their routines by gifting a plant or animal to care for, giving them a touch of responsibility and affection. In addition, there appears to be a correlation between senior citizens who keep pets and a lower incidence of health problems requiring medical intervention. Caring for plants at home or a nursery and looking after pets help keep the elders occupied with positivity and enjoy cheerful company.

3. Rely on experts:
Geriatric care managers can help seniors who don't have close family nearby. Typically, geriatric care managers are seasoned physicians or carers who figure out how to best meet the emotional and social requirements of their elderly patients.
Caregivers for the elderly spend the opportunity to get to know their patients, start friendly conversations, and engage them in mentally stimulating activities like games and mindful tasks like painting, singing, yoga, etc. Perhaps going for affordable health insurance plans for parents that may include professional services and additional health benefits should be your priority.

4. Communication:
Communicate often with your ageing loved one and engage them in conversation. Your close family member might appreciate more frequent phone calls from you. Communication is the best way to bond with your elders and make them feel valued.

5. Remind them of their importance:
Inviting them to join in on the festivities is a great way to show them how much they mean to you. Inspire them to reach their potential, but avoid giving the impression that any help you provide stems from a sense of obligation on your part. Express your affection for them and let them know that they will always be an important member of your family.

Loneliness doesn't pose an immediate health risk. Therefore, some people might not take the possibility of it seriously. While isolation might not seem like a problem, it can become one if left unchecked. Elders usually don't open up about the problems they face so easily with their family members. Studies and statistics show that the elders are more likely to require hospitalisation, so you must do everything you can to keep them in a positive frame of mind and reward them with affordable health insurance plans for parents to ensure their wellbeing.

Click HERE to buy the best and affordable health insurance plans for parents.

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 foremost priority for any parent is to make their children financially secure by the time they turn eighteen and are ready to take on the world. In the growing years, your children may even decide to start up some business of their own for which they will require funds too. Also, you must consider the high living costs if your child decides to study or work in big cities like the metros. It is crucial to allocate funds to aid your child's education at foreign universities, considering the boost in international education opportunities.

Efficient financial planning is the key to being future-ready and meeting all expenditures to secure your child's future. We have designed our guide to help you plan your finances in the most appropriate way to ensure your child's bright future.

1. Start early and set your goals:
The first tip is to start as early as possible and set realistic and achievable goals. You should decide how much funds you will require to satisfy your child's aspirations. It need not be an exact amount; a close estimate will do. Calculate how much money you can save and put aside every month for your child from your current income.

2. Investing:
Investing your savings will make them grow; hence, you must decide where to invest this money. Ideally, your investment should be more in equity and less in safe-haven assets such as debt funds, fixed deposits, and gold, considering your long-term goals. Equity has the power to give you compounding returns over the years and grow your money exponentially. However, it is associated with risk.
Fixed deposits and debt funds will give you relatively lower returns, but they will be steady and safe. You must make smart decisions while investing your capital into these investment instruments.

3. Choosing the best schemes:
You will need some money for your child in the short term to meet her schooling and living expenses and more money in the long term for meeting her higher education expenditure. Allocate your investment between different asset classes accordingly and choose the best possible schemes available for the same. Invest in avenues that allow withdrawals without a long lock-in period to meet your short-term needs.
You can take the mutual funds route to invest in equity if you are not comfortable with investing in the stock market directly. Equity comes with many options, such as investing in different economic sectors, market capitalisation per your time horizon, etc. You can also buy government bonds and gold directly from outside sources.

4. Appropriate insurance coverage:
Insurance keeps your family secure in case you or your member meets with an accident. Hence, invest in a good insurance policy as per your individual need. What will happen to your child's future if something happens to you? Take a general insurance cover so that your children get fruitful benefits. Similarly, go for a mediclaim or comprehensive health insurance policy from the best health insurance company in India with a full family cover so that you are under no financial stress if anyone from your family meets with an emergency and requires hospitalisation.

5. Nominee appointment:
Never miss out on filling in the name of a nominee while investing anywhere. Fill in your spouse's name or a reliable third person, but do not leave the field blank. Only the nominee will have legal access to your investments in case of your sudden demise.

6. Regular review:
Review your investments regularly. If your investment is not performing as expected, change it to other investment options with higher returns. Similarly, keep checking your mutual funds' scheme performance and change it if it underperforms for a long time.

Proper financial planning will help you to secure your child's future. The above tips will keep you stress-free, and you will have a sufficient corpus ready by the time your child goes for her higher studies or is ready to start a venture. Reliable insurance coverage from the best health insurance company in India and good investments will be the perfect formula to turn your child's dreams into reality while being in their best state of health and well-being.

Click HERE to buy insurance from the best health insurance company 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.

Biker jackets are a must-have safety gear for bike-riding enthusiasts. They provide comfort, protection, and safety and help you make a style statement. Originally biker jackets were made from leather since they provided durability and insulation. However, in recent years, textile and mesh jackets have also evolved as good substitutes for leather in making biker jackets.

Here is a complete guide on choosing the best biker jacket to make your riding experience safe and stylish.

1. Safety:
The main function of a biker jacket is to provide the rider with safety and adequate protection in case you meet with an accident. It equips with a protective layer that a regular shirt or a t-shirt will not provide. Hence, go for a biker jacket that is strongly built to withstand the effect of impact or abrasion. Leather scores over textile or mesh in this department as it can withstand the effect of abrasion and will not tear even if you fall and are dragged on the ground.
A biker jacket should have adequate padding to absorb the energy from the impact and minimise injuries to the rider. Biker jackets are made to protect your spine, shoulder, and elbows to reduce the devastating effects of a serious accident. Some jackets are made with hard plastic armour to provide extra cushioning.

2. Durability:
A biker jacket will usually cost much more than your regular bomber jackets due to their build and quality. A biker jacket made of leather will be more durable than jackets made of textiles or mesh. Spending money on safety is a worthy investment, so make the right choice and the best riding jacket.

3. Comfort with the right fit:
A biker jacket should be comfortable and lightweight, along with being durable. Hefty jackets will make you feel bulky and uncomfortable over long bike rides. Correct fitting is crucial so that you feel comfortable in it. You can opt for jackets with removable soft inserts and use them as needed.
The jacket should allow adequate airflow, which will be helpful on a hot day. Also, the collars or arms should not flap while riding but allow the air to flow through so that the jacket does not become a distraction while riding. Remember that your bike and posture will significantly impact the fit of the jacket you need. While a regular, relaxed fit touring jacket can be great on a cruiser bike in which you need to keep an upright posture, the same jacket can be annoying and of poor fit if you have to ride a sportbike in a crouched position.

4. Style statement:
A biker jacket that lacks style is a big no for any biker. Your jacket should be designed such that you can make a style statement wherever you go. Race jackets or biker jackets should be colour-blocked and of vibrant colours to catch attention even from a distance. They should provide you with a sporty look. Some come with metal skid plates on the shoulder and elbow areas and most come with a reflective piping design to make your jacket look more stylish and provide safety.

A good biker jacket is similar to two wheeler insurance. Jackets save bikers from the impact of the accident, and two wheeler insurance provides them with adequate coverage and protection in case of a mishap. Invest in the best two wheeler insurance in India to be your saviour and true companion in unforeseen circumstances.

Click HERE to buy the best two wheeler 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.