GENERAL INSURANCE BLOG

A lot of people around the world work hard and save their income to one day purchase a car. A car provides you with much more freedom and mobility than local transport. Having your vehicle allows you to do things according to your schedule. You will not have to schedule your entire day according to local transport timings, nor will you be stuck in long lines and crowded transportation services. You can be wherever you want, whenever you want to be. It is beneficial for family trips and casual outgoings. Having your car will also provide you with much more feasibility during an emergency.

Getting your car insured is very important after purchasing it. The Government has made it mandatory for vehicles to be insured. If you are caught by an official and are not able to produce a hard copy of your car insurance, then you will be fined and may even have to serve a prison sentence. If your car is not yet insured, you can get it insured online. You can obtain car insurance quotes online from different insurance providers and choose whatever works best for you. Before finalizing the deal here are five things you must know that nobody might have told you about car insurance quotes:-

• You will get different car insurance quotes from different companies. All companies have their algorithm to reach the amount they are going to charge you. These algorithms use various factors and are developed by top actuaries.
• You can get discounts on your quotation. Before signing the contract, you must make sure you are getting all possible discounts for your car insurance. There are various discounts offered by insurance providers, and they differ from one institution to another.
• You must make sure that the current quotation will cover all third party liabilities as well as damages to your car. Some insurance companies may try to lure you by sending you low quotes while not providing complete coverage. Before signing the contract, you must always make sure that you are getting comprehensive coverage from the insurance.
• You must enquire whether the quotation amount will decrease if you pay the amount in a lump sum. Most of the companies give attractive discounts if you pay an annual or semi-annual lump sum amount. This discount adds up over a long time and will save you a considerable amount of money over time
• You will get higher quotes from branded insurance providers. You can find right insurance providers that are not branded that provide sufficient coverage and have cheaper quotes. This does not stand to mean that branded insurance providers are bad. They sometimes have needless coverage amounts to justify their quotations. Often when involved in an accident, you will not require that much coverage. Non-branded insurance providers will work well for you. Before signing a contract, make sure everything is in order and that your coverage is enough to cover for most damages.

Knowing these five facts will help you get the best insurance policy for your car. Having insurance is not a license to drive recklessly. Some people put themselves and their surroundings in danger as they know they will get coverage if they get into an accident. It is your responsibility as a good citizen to drive safely and within proper guidelines.

A personal vehicle is a huge blessing. It provides you with much more freedom and mobility that you will have otherwise. Having your vehicle means that you can go around the area without any restrictions on time. It’s also beneficial to have your vehicle in case of emergencies. If you are in an emergency that requires you to visit someplace else, you can straightaway set out for the destination. Otherwise, you would have to book and wait for the cab service, which will take precious time. A personal vehicle also enhances your freedom as you will not have to depend upon local transport for going from one place to another.

Purchasing a motor vehicle is an expensive decision. A personal vehicle can cost you many times your monthly salary. It is essential to take excellent care of it. Even though you are taking good care of your motor vehicle, accidents do happen. An accident can leave you in a precarious situation as you would have to spend a considerable amount to get your vehicle repaired. This can be a substantial financial burden. The possibility of running into such a scenario makes motor insurance extremely important. If you have motor insurance, you will not have to worry at every turn for a minuscule possibility of an accident. Before signing up for motor insurance, you should obtain motor insurance online quotes from different insurance providers to see which policy best suits you. Here are five doubts that you should clarify about motor insurance quotes: -

• You should ask your insurance provider about the coverage under the present quotation. Some insurance providers may try to lure you with cheap quotations that do not provide complete coverage for your vehicle. This insurance policy will leave you helpless in case you have an accident.
• You should clarify how often you will have to pay the premium. A cheap quote loses its meaning if the insurance provider makes you pay it more often.
• You should ask your insurance provider if he has provided you with all the discounts and savings available. There are many different discounts in an agency depending upon age, gender, insurance score, etc. Many factors are calculated while arriving at the premium amount. You must make sure your insurance provider gives you the best rate possible.
• You must ask if your premium amount will remain the same or if it will decrease over time. Many factors are used to arrive at the quotation change as time passes. Also, there is a no-claim bonus that will give you a discount on premium if you do not claim insurance in the period. You must have full disclosure on present and future premiums.
• You must enquire if paying your premiums in a lump sum may reduce the quotation. Often companies give discounts if you pay the premiums annually or semi-annually. This can save you a lot of money over time.

Obtaining motor insurance online quotes will save you a lot of time. This will give you a rough estimate of what you can expect from the insurance provider. It does not beat sitting down and clarifying everything with an insurance agent. Still, it provides you with some information so that you are not going in blindly.

Buildings and houses are constructed very carefully; they are correctly planned and are built in a way that they can withstand any calamities or damages to the maximum extent possible. One common form of protecting houses from excessive heating or the weather is external cladding, which is the method of covering one material with another under high pressure and temperature. There are different kinds of materials that can be used for cladding, such as vinyl, aluminium, wood, etc. Still, these materials run the risk of catching fire and causing harm to people as well as the environment. Just like you would need to go with the best car insurance company in India for your car, you would need to choose the best fire insurance to protect your house.

Here are ways to control fire loss due to external cladding: -

• To Avoid Flammable Material: While almost any cladding material runs the risk of causing a fire, there are some which are more flammable than the others, such as APCs or Aluminium Composite Panels since they have a plastic-based core. When getting the house constructed, always make sure to use a material that is less likely to cause a fire or is less likely to help the fire spread; some materials are certified as being safe, and those are the ones to use.
• Check the Material Used: If you are not getting a house constructed but are buying an already built one, make sure to check the Material used for external cladding. Ask for the blueprints to the house, fire engineering reports, and also other details about the external materials, so you know how likely the cladding is to cause a fire. While it is expensive to change it, if you ever get your house renovated, do not forget to use a non-flammable material.
• An Effective Sprinkler System: Every house or building comes with a sprinkler system that automatically goes off when there is fire. You must ensure that the system works effectively and can detect fire or smoke since many sprinklers stop working after a while. Also, ensure that sprinklers are located everywhere in the house so that one outlet does not have to bear the burden of putting out the fire.
• Assess Other Connections: When constructing a house, numerous connections are going all around the house, whether they are water pipes, electrical wires, or other panels or boards. If there is a fire due to external cladding, these connections might be affected and can aid the spread of fire. You must be well aware of where all the connections are so that when needed, you would be able to determine the most dangerous spots and can try and control the fire.
• Handle Hot Objects with Care: Many residents have access to a terrace or balcony space, which they use for barbeques or even merely to smoke. If these objects are not handled carefully, then that can be disastrous. For example, a barbeque left on or is too close to the structure, chances of catching fire are very high.

There are numerous measures which are taken when there is a fire, but it is even more important to do everything you can to avoid getting such a situation in the first place. Since the whole purpose behind external cladding is to protect the house, make sure to use the right material and to assess the structure to avoid any risks.

With almost everyone, a driving car these days, the chances of accidents have increased, and there is always the possibility of the vehicle needing repairs. Both of these cases require a lot of funds, which is why you need to get car insurance online in India immediately. Having car insurance means that you would be compensated if your car faces any damages if you get into accident or needs repairs. However, what determines how well you would be compensated is the sum insured, which is the maximum amount that the insurance company would pay you in such situations. It depends on the premium you pay.

Here are some determinants of choosing the right sum insured for car insurance: -

• Your age: Your age has a lot to do with the sum insured that you want for your car insurance policy. If you are younger, you can insure a low amount and then increase it gradually over the years. If you are older, it is best to have a higher sum insured just in case you need to take care of growing medical bills. Being in an accident may require you to either pay for the damages or hospital bills, and the amount for the latter could be higher if you are older and relatively weaker.
• The condition of your health: It may seem odd, thinking about your health when deciding the sum insured for your car insurance. But the status of your health largely determines the kind of treatment you would need if you are involved in an accident, and also the expenses. If you are healthy and free of ailments, you should choose a lower sum as opposed to you being older and less active and agile, which might complicate the treatment procedure and lead to higher expenses.
• Any ailments or severe health issues: If you suffer from a critical health condition, you might have to pay higher medical bills given the nature of complications. In such situations, it is best to opt for a higher sum insured so that you are protected from higher expenses.
• Your income: A very vital factor to consider is your level of income. Whether you want a higher sum insured or not, your income determines how much you can pay towards the insurance. If you just began earning or do not earn a lot, it makes sense to have a lower sum insured, since you would have other expenses to take care of. On the other hand, if you earn a decent living, opt for a higher sum insured for full coverage.
• Lifestyle and daily activities: The kind of area you live or work in, how you commute, at what hours, how much you drive the car, etc. determine the type of plan you would need, and thus would also determine the sum insured. If your lifestyle is such that there are more significant risks of getting into an accident or requiring frequent repairs, it is best to go with a higher sum insured so that you would be financially covered when the need arises.

It is not enough to buy car insurance online in India; you need to understand its terms and conditions and choose the sum insured that suits your needs and situations best.