GENERAL INSURANCE BLOG

Car insurance is a shield that protects your vehicle and your finances in case of accidents or any untoward incident involving your car. You pay a fixed sum annually, known as the insurance premium, for availing of the insurance company's services. As your policy approaches its expiry date, you must renew it by paying the premium.

There may be instances when you cannot pay the due insurance premium on time. You may be busy, unavailable, or not have the funds to renew it or simply forget to renew your policy. What happens to your policy, then? Does it expire and lapse? No. You might enjoy a special privilege known as the grace period, which prevents your policy from lapsing.

Let us know more about the grace period in car insurance.

1. Duration:
An insurance company usually provides a 15-30 days grace period from the expiry of your car insurance policy. However, it may differ from one company to another as per the policy's terms and conditions.

2. Charges:
Normally you don't have to pay any extra charges even if you renew your car insurance policy during the grace period. There may be a penalty if you do not renew your policy even within the grace period and do it after it ends.

3. Accrued bonus:
No-claim bonus (NCB) is the bonus amount accrued yearly in your policy if you do not raise a claim in that year. You get a discount on the insurance premium amount at the time of renewal of the policy, depending upon the NCB accrued to date.
Does this accrued NCB expire if you do not renew your policy in time? The answer is "NO". You can enjoy the benefit of your NCB even if you renew your car insurance policy during the grace period. However, the NCB may lapse and become inactive if you fail to renew your policy even within the grace period.

4. Claim settlement:
As we have discussed above, your car insurance policy will still be valid during the grace period. What happens if your car meets with an accident or gets stolen during the grace period? Will the insurance company entertain your claim now?
The answer is "NO" again. Your claim will be rejected simply because you did not renew your car insurance in time. Hence, it is crucial that you always renew your car insurance policy before its expiry date or as soon as possible because accidents come unannounced, even during the grace period. The entire purpose of having car insurance coverage will be defeated in such a situation.

5. Legal aspect:
According to the Motor Vehicles Act, it is mandatory to have a valid and active car insurance policy in India. Your car insurance is technically invalid if your insurance policy expires and you enter the grace period. Hence, legally you will be driving without a car insurance policy. The police will have the right to fine you and issue a challan if you're being stopped.

6. Inspection:
The car insurance company may again send an agent for the inspection of your car if you renew your policy after the grace period expires. In such a case, you will have to bear the inspection charges.

An active car insurance policy is essential as it safeguards you against any mishap involving your car and third-party liabilities arising from it. So why wait for the policy to expire first to renew it?

You should always renew your policy in advance, so your protection remains intact. You can easily opt to buy car insurance policy online and also renew it online later. Buying and renewing a car insurance policy online is fast, simple, secure, and 100% reliable.

Click HERE to buy car insurance policy 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.

Besides its legal obligations, bike insurance can help you avoid paying heavy amounts for any damage, theft, or mishaps. But if you buy two wheeler insurance online, you must look for the various coverages the insurance policy provides. What if your two-wheeler catches fire because of an accident or other disaster? Will your insurance policy cover it?

Fire can cause minor issues, such as wire or seat damage, or even the total loss of your vehicle. Repairing significant damages or even a total loss may cost you a fortune, as you have to pay a considerable amount for repair or replacement. Thus, it would help if you had a bike insurance policy that offered you financial assistance for the damages caused by the fire. This quick guide will help you know whether your bike insurance policy covers fire damage.

Which two wheeler insurance covers fire damage?
There are three main types of bike insurance, but coverage of damages depends on the type of policy you pick. However, here is a list of bike insurance policies and the range of coverage that each policy provides.

Comprehensive bike insurance:
Comprehensive bike insurance is one of the most popular types of insurance due to its wide range of coverage, and it covers both own damage and third-party damages. Besides covering fire damage, this two wheeler insurance policy covers the following damages:

● Third-party injury

● Vehicle theft

● Accidental damages

● Third-party property damage

● Death of the third party

● Natural calamities damages

● Artificial calamities damages

Standalone bike insurance:
A standalone own-damage bike insurance policy only covers the damage to your bike. Here is the list of coverage this policy allows:

● Damage caused due to fire

● Bike theft

● Natural calamities

● Accidental damages

● Artificial calamities

Third-party bike insurance:
Third-party bike insurance offers coverage for the injury or damage of a third-party vehicle. However, this insurance does not cover the damages to your bike, including fire damage. But, having this policy is mandatory by law:

● Third-party injury

● Third-party property damage

● Death of the third party

Inclusions and exclusion of fire damage in two-wheeler insurance:
When you buy two wheeler insurance online, you must know the terms & conditions and the coverage for fire damage. Here is the list of inclusions and exclusions for fire damage.

Inclusions:

● Accidental house fire

● Natural calamities

● Riots

● Motor accident

● Vandalism

Exclusions:

● Fire damage due to mechanical or electrical defect

● Damage due to the addition of extra accessories

● Damage due to deliberate acts or own negligence

● Fire damage caused outside the specific geographical area

How to claim for two-wheeler fire damage?
If your vehicle is damaged due to fire and you have your bike insurance policy which covers fire damage. Then you must follow the below process to claim for such damages:

● Contact your insurance provider and inform them about the damage and its cause within 48 hours

● Collect various evidence, such as taking videos or pictures of the incident or the damaged parts of your two-wheeler due to the fire

● Visit your nearest police station and file an FIR

● Submit multiple documents such as address proof, identity proof, etc.

● Then the insurance provider will send a surveyor for an inspection of your case

● In case of minor repair or replacement, the insurer will offer you compensation

● In case of a total loss, the insurer will give you the amount as per the policy's terms

Documents required:

● Driving licence

● Identity proof

● FIR copy

● Registration certificate for bike

● Report of the fire brigade

Various reasons can cause fire damage, and it can be pretty disturbing for you to pay for the repairs or replacement of the damaged parts. Thus, it would be best if you had bike insurance covering the fire damage and providing you with the financial assistance you need during an emergency. It is best to buy two wheeler insurance online, browse through multiple options and research the one that offers comprehensive coverage, including fire damage. This way, you can efficiently ensure the longevity of your two-wheeler and stay financially sound.

Click HERE to buy two 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.

Bike engine damage can be severe and adversely impact you financially. Even though it doesn't break down often, fixing the engine can be expensive. An engine protection in your two wheeler insurance helps you in case of damage caused by water getting into the engine or oil leaking and making the engine non-functional.

You always have to select it as add-on insurance, as the comprehensive coverage does not cover the engine. For a little higher premium, you may rest easy knowing that you are protected financially if the insured bike's engine suffers damage.

The bike engine protection add-on covers the cost of repairing or replacing engine and gearbox components damaged by water intrusion, lubricating oil or coolant leaks, or a hydrostatic lock of the covered bike. The engine protection add-on is essential that you should consider when buying bike insurance.

The two-wheeler engine protection cover's advantages are as follows:

• It covers the cost of the bike's most expensive component - the engine

• Protection against physical harm caused by hydraulic lock to the engine and gearbox

• Financial protection against engine oil or lubricant leaks caused by water intrusion

• Provides monetary security

• Ideal for residents of flood-prone areas

The engine protection add-on does not cover the following items:

• Any maintenance or replacement due to normal wear and tear

• Repair or replacement of an internal part of the engine or gearbox because the driver was drunk, illegally racing, or the bike was driven while the driver's licence was invalid

• Damage or losses caused by engine corrosion

• The price of lubricants or engine oil

• Any claim made following the deadline for notifying the insurer of the incident

• Any claim in which engine parts were repaired or replaced without first notifying the insurance provider

• Any claims that are beyond the manufacturer's warranty

Do you need an engine protection add-on?
When you buy insurance from 2 wheeler insurance India, the "Engine Protection" is generally not covered. It is an advantage that is provided as an add-on. You should opt for this feature if you live in a region prone to flooding. For a small additional premium, you can relax knowing that the most expensive component of your motorcycle is covered and stop worrying about unexpected repair costs resulting from engine damage.

Who should purchase the engine protection option?
With a small cost on your annual premium, the engine protection add-on cover provides additional protection. For the following reasons, it would be best if you gave some thinking to get the bike engine protection add-on:

• If you have just purchased a new bike

• If you live in a flood-prone location

• If you want financial protection against significant damage to the engine parts

Understand that any damage to the engine's internal components can be expensive. To prevent unintended damage to the engine or gearbox components, check the engine oil level frequently. The bike should be serviced regularly as per the schedule, and you should change parts like the air filter and oil periodically to keep the engine running smoothly.

Avoid over-accelerating the engine because this could cause it to overheat and harm its internal components. Also, avoid buying duplicate parts during any post-damage repair. Lastly, buy a reliable 2 wheeler insurance India with an efficient engine protection add-on to enjoy an exceptional benefit.

Click HERE to buy the best 2 wheeler 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 MV Act, or the Motor Vehicles Act of 1988, regulates the legal environment surrounding motor vehicles. It states that every car owner must buy new car insurance after acquiring a new car or renew it immediately after its expiry. It is one of the three must-carry-along documents for drivers, including a PUC certificate and driver's licence. With increased regulations and growing awareness regarding the financial burden of shouldering expenses in case of an accident, the policyholder base of motor insurance has risen steadily.

Despite the importance of car insurance, it cannot be said to be a comprehensive policy. Some aspects are left out in the document's fine print and are available as add-on facilities. Therefore, while most people know the need to buy new car insurance, only some are aware of general exclusions.

A typical example is the consumables in car insurance, which is discussed in detail in this blog.

General inclusions under car insurance:

While each insurance company may offer a slightly varied version of car insurance, generally, third-party car insurance covers accidents that cause damages to other parties or their properties. Without such a policy, you will have to bear the losses and compensate the affected party.

A comprehensive policy has two aspects, a third-party car insurance policy and own damages cover. Thus, it provides enhanced protection against personal injuries and manmade and natural disasters. Since consumables are nowhere mentioned as included, it is implied that they are an exclusion from the policy.

Understanding consumables:

Consumables in accounting refer to assets used within the process and are sometimes held on standby for future use. The former part of the explanation applies to consumables in cars. These items are used in the general running of a vehicle and are subjected to continuous wear and tear.

Consumables in a car can be identified as brake oils, engine oil, lubricants, refrigerant for AC, ball bearings, nuts, screws, bolts, washers, etc. In simpler words, they aid in the efficient running of the vehicle without forming a large chunk of the cost and are put to use regularly, which is why they deteriorate faster than other car parts.

Consumables insurance:

While consumables may not appear to be a prominent aspect of the relevant cost incurred in purchasing a car, they play a crucial role in the proper functioning of the vehicle and must be noticed. It is prudent to insure your car's consumables to prevent any financial losses you may have to bear due to improper condition of consumables.

Although not included in comprehensive insurance, insurance companies provide the facility to select add-on consumables insurance by paying an additional premium for the service.
Add-on consumables insurance covers expenses incurred for replacing items like engine oil, brake oil, steering oil, coolant, AC gas, refrigerant, dust filters, air filters, engine filters, bolts, nuts, washers, screws, grease, etc. It is important to note that consumable insurance is usually provided for cars not used for more than five years.

Exclusions of consumables insurance:

It is a specific add-on insurance type that only covers relevant costs relating to consumables. The general conditions to claims are similar to any other car insurance or allied add-on facility. In the following conditions, the claim is not admissible:

● Driving without having a valid driver's licence

● Driving under the confluence of substances or liquor

● Misuse of personal vehicle for commercial use

● Prolonged delay in informing the insurer regarding the replacement of consumables

● Misuse or overuse of policy to claim the maximum benefit, as against a rational person's actions

Consumables play an essential role in a car and must be considered when you buy new car insurance. The policy is purchased by fulfilling common conditions similar to car insurance. It helps file a claim for replacement costs of consumables by informing the insurer.

Click HERE to buy new car insurance policy.

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

Spending time with your family is an underrated form of therapy. It is the need of the hour with busy schedules, building work pressure, and the growing need to perform better and be indispensable at your workspace. However, with such heightened expectations, burnout is inevitable. In such times, a getaway with your loved ones works like a charm to rejuvenate yourself and develop stronger bonds.

The New Year is the perfect time to plan a vacation with your family. With schools, offices, and other institutes allowing winter break, it is the ideal time to explore a new destination or revisit old memories at a place you've been to. However, deciding the place is always the most challenging part.

Are you looking for adventure, tranquillity, or immersive activities? No matter your requirement, we've got it all covered in our list of the best places to enjoy your new year vacation in India. Always purchase general insurance to cover any accidental losses during your travel.

1. Ooty, Karnataka:
If you want to celebrate quality time with family amidst nature and live in the present rather than party, Ooty is the best destination for your vacation. Its lush greenery, plantations, multiple lakes to experience boating, quaint architecture, and pleasant weather make it a great place to picnic and relax.

2. Auli, Uttarakhand:
A must-visit for adventure enthusiasts and nature lovers alike, Auli has gained popularity over the years. The hill station hosts various skiing competitions during the winter months, making it the best time to try your luck at the sport.

3. Sikkim:
While the Northeast ravishes over the snow in the mountains, the region is also home to vast greenery and some exhilarating activities for the entire family. Boasting lush valleys, deep-rooted heritage, and the awe-inspiring beauty of nature, Sikkim also has Tibetan influence, making for an extraordinary cross-cultural experience.

4. Goa:
It is not a stretch to call Goa as the country's party capital. Gifted with long beaches, Portuguese-influenced cuisine, and party spots like no other, Goa has something to offer for people of all age groups with varied interests. Plan the most thrilling New Year bash with family and friends on the vibrant coastline of Goa and immerse yourself in an unmissable travel experience.

5. Udaipur, Rajasthan:
While Rajasthan is a popular place to visit in the winter, the footfall during the New Year celebrations is exceptionally high. Home to beautiful handicrafts, expanses of desert, well-preserved ancient forts, and rich culture, Udaipur gives off a royal feel and provides the best Rajasthani cuisine that caters to the diverse tastes of travellers from all parts of the nation.

6. Pondicherry:
Also known as Puducherry, a stay in the city provides the best of all things you may wish to experience. You can find adventure sports, quaint streets, beautiful French-influenced architecture, and the Auroville, all in the same place.

7. Malvan, Maharashtra:
Malvan is the best place to visit if you love beaches but wish to avoid crowds and enjoy a more private celebration with your family. The town boasts of providing similar experiences as Goa during the New year celebrations, but at a smaller scale. You can enjoy a happening time savouring lip-smacking Malvani cuisine and enthralling water-sports activities.

A new year vacation is the best way to bid farewell to the year that went past and reminisce memories while preparing for the upcoming year. Our recommendations include various options for people of different interests that allow you to spend cheerful time with your family, engage in authentic experiences, and enter the new year with a blast. Before choosing the location, always ensure that your general insurance provides robust travel coverage against the contingent expenses you may incur in case of any mishaps.

Click HERE to buy a reliable general insurance policy.

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

You don't always have to hate travelling if you have to go through airports. With art galleries, rooftop pools, movie theatres, and live music all airside, some airports can even get you in the festive spirit before you get there.

Sometimes long waiting hours due to a delayed flight or extensive layovers can make you physically and mentally exhausted, especially if you travel with kids. These mini frustrations can be a spoilsport and ruin the excitement of your international trip or business tour.

But you need not have to worry much. Several airports worldwide have numerous exciting amenities and entertainment options that can entice you as a curious traveller and pass your time enjoying their mystic charm. Let's look at the coolest airports you want to visit once.

1. Airport Changi, Singapore:
The world's tallest indoor waterfall and a forest can be found in Jewel, a new complex open for tourists and air passengers inside the Changi airport. It features sky nets for climbing through treetops, canopy mazes, and misty clouds that enchant individuals of all ages. Because the airport is a destination in and of itself, the kids are sure to enjoy a cheerful time.

2. Gisborne Airport, New Zealand:
In India, level crossings are typical at rail-road crossroads, but this one in New Zealand's North Island goes a little too far. The main runway directly crosses the Palmerston North–Gisborne Line rail-road route. And keep in mind that it is an official public airport. Visiting this airport is a wondrous opportunity to witness this unbelievable marvel.

3. Kansai International Airport, Osaka, Japan:
The thrill of this airport is that it is constructed on an artificial island and is visible from space! Despite the significant risk of earthquakes and hurricanes, Renzo Piano, an Italian designer, built this man-made island to house the airport. It is a distinguishable feature on the oceanfront as you approach from above and is connected to the mainland by just one Sky Road. Sounds interesting, isn't it?

4. Vancouver International Airport, Canada:
In addition to two enormous marine displays run by the city's aquarium, Vancouver's massive airport has plenty to keep waiting passengers occupied. Various marine life native to British Columbia, including wolf eels, sea urchins, and orange cup corals, call the largest tank, measuring 114,000 litres, their home.

5. Agatti Aerodrome, Lakshadweep, India:
It appears to be a narrow sliver of land sticking out of the azure oceans, but it is the Agatti Airport in Lakshadweep. The sole one serving the Lakshadweep islands was made for the Dornier 228 class aircraft. To accommodate an Airbus 320 or Boeing aircraft, the Airports Authority of India plan to extend the runway to the nearby island of Kalpati.

6. Ibrahim Nasir International Airport, Maldives:
The airport's runway serving Male, the capital of the Maldives, is encircled by water on all sides, making it one of the few airports in the world to occupy a full island. The entire airport scene is more like a breathtaking experience, with turquoise and emerald water bodies encompassing the airport.

7. Kuala Lumpur International Airport, Malaysia:
This airport is among the few who claim they are home to a jungle. A wooden boardwalk leads into a lush rainforest in the centre of the terminal, and there is even a waterfall along the way. The Malaysian flora is sure to spellbound travellers with its distinct charm.

As you read, these international airports are much more than just airports! These are fantastic ways for travellers to deepen their knowledge, boost excitement, and open wide exploration opportunities that assure a profound travel experience. Just as fun is an important element of a travel plan, similarly safety is an aspect that cannot be overlooked. Especially when travelling with family, it becomes more crucial to have comprehensive coverage of general insurance India to protect against any damage or loss incurred during travelling.

Click HERE to buy general 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.

Indian insurance companies offer two types of bike insurance validity- single-year and multi-year bike insurance. As the name suggests, you have to renew single-year bike insurance annually. Multi-year bike insurance is valid for more than a year, usually for two, three or five years.

Both types of bike insurance have their advantages and disadvantages. Let us understand the difference between multi-year and single-year bike insurance.

1. Renewal and convenience:
A single-year bike insurance policy has to be renewed every year. You have to keep track of the policy's expiry date and get it renewed either online, through an agent, or paying at the insurance company's office directly.
A multi-year bike insurance policy has to be renewed after a much longer period, usually two or three years, and even up to five years. Hence, it provides a lot of ease and convenience as far as the hassles with renewal are concerned. You do not have to worry about the policy renewal date for long once you have renewed it for multiple years in one go. Such policies provide enhanced lapse protection cover because they do not lapse every year but after a couple of years or more.

2. Pricing:
Technically, the pricing between a single-year and multi-year bike insurance is proportionately similar. However, differences in pricing may arise because of the impact of inflation and the government's taxation policy.
Suppose the impact of inflation is high, and the economy is seeing an upward trend in the prices of commodities over a long period. In that case, the single-year bike insurance premium, too, is bound to go up at the time of renewal. Moreover, if the government increases the tax rate on the renewal premium, you will also have to pay more on account of taxes.
This is not the case with your multi-year bike insurance premium. You pay it in one go for several years at the current price rates. Hence, you are saved from experiencing any upward movement in insurance premiums because of inflation. Also, any increase in tax rates on insurance premiums will not affect you in the case of multi-year bike insurance.

3. No-claim bonus:
Your multi-year bike insurance policy provides you with a higher NCB discount rate than a Single-year insurance policy. This brings down your insurance premium significantly. However, please remember that every insurance company has its distinctive NCB calculation, and the NCB amount can vary from one insurer to another.

4. Insured Declared Value:
In the case of a single-year bike insurance policy, you can check and regulate the IDV of your vehicle every year at the time of renewal of the policy. Hence, you can pay a little more premium and enjoy a higher valuation of your bike.
But the IDV is fixed for the entire policy duration in the case of multi-year bike insurance. You cannot change it in the middle of the policy and may not be able to achieve the highest possible valuation of your bike in this case.

5. Financial burden:
The financial burden on any person is more in the case of multi-year bike insurance than single-year bike insurance. You have to pay the premium for several years in one go in the case of multi-year bike insurance. This may prove a bit harsh on your pocket, especially if you are already facing financial distress.

Single-year and multi-year bike insurance have their unique advantages and disadvantages. An easy going person who wants to stay free of the stress of renewal of the policy every year should opt for multi-year bike insurance. A person who wants to keep a check on add-ons and offers provided by their insurance company every year should opt for single-year bike insurance.

No matter which type of insurance you choose, opt for buying your bike insurance online and enjoy service, variety, and great discounts at your doorstep with simple clicks.

Click HERE to buy bike insurance online.

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

If you've driven a car with manual steering, you must know how difficult it can be. Power steering is an advanced mechanical device fitted in your vehicle that helps you turn the steering wheels effortlessly.

But very few car drivers know the significance of warning lights appearing on the dashboard. When the warning light for the power steering system in your automobile comes on, you should be concerned since that usually means the power steering system is broken, making it extremely difficult to drive the vehicle.

What turns on the power steering light?

Low fluid level is the most frequent cause of the power steering warning light for vehicles with hydraulic power steering. A leak in one of the tubes can be a primary reason. When your power steering light turns on while driving, it'll be wise to slow down and park your car safely. Just be extremely careful because your steering will be considerably heavier at this point.

Open the bonnet to find the reservoir for the steering wheel fluid. There might be a picture of a steering wheel on the reservoir cap. If not, refer to your owner's manual to locate it.

Examine the liquid level. Before continuing your journey, you should top off the reservoir if it appears to be getting low. If you likely don't have any, visit your neighbourhood car service centre to buy some.

Start your engine after topping off the power steering fluid. You may continue travelling if the warning light doesn't turn on again. If the power steering light is still on, there may be a more significant issue. You should get your vehicle checked at a nearby garage or service centre to inspect the actual problem.

What if an EPS light appears?

Cars without hydraulic power steering will activate the EPS system, which stands for electronic power steering. If your car's EPS warning light glows, diagnosing the problem could be more difficult because there won't be any fluid levels to examine. You should carefully check all the connections to the battery for signs of wear or damage because a problem with the battery or alternator could sometimes cause it.

You may also have a problem with the EPS light if you recently had to jumpstart your car or take the battery out. Sometimes you might resolve the issue by turning your car on and off again. Even if this works, you should still have your car checked at a service centre because there might be a deeper problem.

Driving while the power steering light is on, is it safe?

It won't be simple because turning will be more challenging, and steering will be heavier. Accidents will also be far more likely because it will be nearly impossible to react to situations at higher speeds. If the light turns on while you're driving, it'll be better to inspect your car in a secure location before heading further.

Either way, the steering wheel warning light could mean something is wrong with your power steering system. It would help if you had a trained mechanic checking your car to address the issue.

Car insurance can financially aid you if the damage is severe and requires high repair costs. Every car insurance policy has an annual renewal period. Policyholders must do their renewal promptly to continue using the vehicle insurance services. If they fail, their policy coverage may lapse, and they may lose all the benefits and policy coverage. Always look out for updates in the car insurance price in India and plan your policy renewal accordingly.

Click HERE to buy a comprehensive car insurance policy.

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