GENERAL INSURANCE BLOG

Most of us have invested financially and emotionally in our automobiles, making them more than just a convenience. While cars are undoubtedly a long-term asset, the associated expenses can often amount to a large sum that many may hesitate to bear.

Apart from the regular fuel and maintenance, another necessary cost is your car insurance. Despite being mandated, many find loopholes to escape the law due to the rising cost of premiums annually. Instead of evading the process, find out why your car insurance premium is rising and whether you can manage it.

1. Vehicle inspection:
Your insurer may inspect the vehicle if there is a considerable lag between the policy expiry date and the intended policy renewal date, which may result in a higher insurance premium. You can prevent such costs by renewing your insurance on time as per the due date.

2. Brand and model:
The price of the car relies on its model, due to which different models have different premiums. A vehicle with a lower Insured Declared Value (IDV) will have a lower premium than one with a high IDV.

3. Advantage of NCB:
No-claim bonus is the primary element of a car insurance policy that lowers the premium and promotes careful driving. It rewards car owners for not filing a claim with a discount of up to 20% while renewing the policy. By applying the claims, you risk losing this advantage and could pay a more significant premium than necessary.

4. Driving habits:
Defaulting on laws, failing to use a seatbelt, etc., could get you into difficulty with law enforcement and your insurance company. If any traffic violation is made in your name, your premium will likely go up.

5. Purchasing insurance from the dealer in a hurry:
Explore various car insurance options and evaluate the offering, premium, and coverage to find the best option. A hastily purchased car insurance is a bigger expense than an asset. Additionally, dealers have a restricted area of competence, offer fewer options, and seek direct profits from the sale, so they may offer a policy that is more expensive than you need.

6. Claim history:
You may be a risky policyholder if you have a history of making frequent claims. Your profile might be deemed dangerous if your claim is denied due to factors like illegal vehicle use or involvement in filing fake insurance claims. As a result, you may be charged a more significant premium since the higher the risk, the higher the premium.

7. Vehicle and driver age:
The older the car and the younger the driver, the higher the premium. An older vehicle is more prone to wear and tear, and a novice or inexperienced driver needs to gain the knowledge of an experienced driver. You can lower your rate by choosing a zero Depreciation cover for your insurance plan.

8. Lack of awareness of deductible's effects:
An expense that the owner of the car bears when filing a claim is deductible or voluntary deduction. Making a proper deductible decision is crucial. If you are a seasoned driver who doesn't need to file claims frequently, you can select a greater deductible to lower your cost. However, if you leave it at zero, you will receive your entire claim payment but will have to pay a higher premium.

9. Locality analysis:
The insurer may raise the cost of insuring cars from a particular location if data indicates, for instance, that there has been a significant surge in flooding or car theft in your area.

A closer inspection is all it takes to identify why your car insurance premium increased, even if it may appear unclear initially. Some factors are uncontrollable, while others can be managed by a potential policyholder who has done his research. We encourage readers to check and compare car insurance prices online before purchasing a policy to avail themselves of the best offer.

Click HERE to buy reliable car 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.

Wrist damage is one of the most frequent types of injuries among motorcyclists. While some may be caused due to collisions, some are caused due to general riding activities such as using the throttle for a prolonged time or during long bike rides.

However, not all wrist injuries require similar treatment. Some may need substantial surgery and numerous treatments to correct the problem, while others recover independently with little to no therapy. If not given appropriate care immediately after a collision, even relatively minor injuries can cause lifelong disabilities and an adversely impacted lifestyle. If you have recently suffered a wrist injury, keep these tips in mind to help you recover faster!

Also, it would be wise to invest in the personal accident and bike insurance online to cover allied costs of damages done to you and your bike due to an accident.

Why you should seriously consider aftercare for your healing wrist:
Wrists are an integral part of our daily movements. While an injury is enough of a setback, neglecting aftercare worsens the situation. Repeated strain due to bending and bearing weight on them can cause further inflammation and have severe consequences like tendonitis or carpal tunnel syndrome.

However, using the following tips regularly can aid in improving flexibility and easing the pain.

1. Stretching:
Place your palm perpendicular to the forearm by bending the wrist or using the help of a wall to maintain the position. Push back your fingers and hold for 15–30 seconds. Do the same by folding the wrist downwards such that the back of the hand is against the wall and holding for 30 seconds.

2. Extended wrist:
Targeting the wrist, hold a weighted object in your palm. A small bottle or jar serves as the best prop for this stretch. With your fingers cupped around the thing, twist your wrist upwards and backward at a total angle of up to 160 degrees. Start slow, as your movement is bound to be restricted and strained. As you get comfortable, increase the weight and range of motion.

3. Bent finger stretches:
Much like the first stretch, this starts by holding out your fingers splayed out. Bend them at the joints for five seconds. Start with two sets of five repetitions slowly to ease the strain on the nerves.

4. Rotations:
While it may seem impossible immediately post-injury, ease your way into doing this stretch. You may do this with additional weight. Rotate your wrist by focusing on your hand until discomfort sets in.

5. Increasing grip power:
Hold and squeeze a grip gadget or a rubber ball for 5-10 seconds each time. It is a comprehensive movement that helps improve overall flexibility.

Depending on your doctor's advice, avoid riding if your wrist is severely impacted. However, if your doctor approves your riding plans, here are some extra tips that may reduce the strain on your wrist.

1. Practise good posture:
Poor positioning when riding a bike can cause wrist pain. Your nerves and joints may become stressed if your wrists are constantly locked. Make sure your elbows are slightly bent to ease some of this pressure if you need to lean forward while riding your bike.

2. Use attachments on your handlebar:
Add cushioned or gel grips to absorb movement and eliminate handlebar vibrations. Weighted bar ends can help reduce hand fatigue by stabilising vibrations and movement. Also, ensure that you grip the bar with reasonable force.

3. Lock your throttle input:
For simple cruise control, install a throttle lock. It helps maintain speed without adjusting the throttle, reducing the strain on the wrist.

Injuries are an inevitable risk in life. While you cannot avoid them, you can prevent them by exercising caution. Similarly, the mandatory purchase of bike insurance online prudently covers the motorcyclist from shouldering the financial burden of theft and damages to a bike.

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.

Sprains are one of the most common injuries people encounter by suddenly hurting their wrist, ankle or body while performing daily tasks. It is mainly caused due to stretch or tear of ligaments, and it takes up to two weeks to completely heal from the internal wound and pain. There are various ways to heal your injuries faster and soothe the sprain, some of which we will be discussing in this article.

However, it is crucial to note that while most of these remedies are home remedies, it is best to consult a doctor who can help you choose the proper medication and treatment if the situation worsens. Since the injuries that cause sprains can also cause a fracture, the doctor might suggest you take some tests.

Choosing the best personal accident policy in India is a step that you must take to ensure the best treatment for yourself. Your insurer will cover your medical expenses and hospital bills under this insurance.

Now let us look at some ways in which you can ensure faster recovery of sprains.

1. RICE technique:
Sprains heal the fastest when treated to the RICE technique. Let’s understand what RICE means.

R – REST – Resting the affected area is crucial for faster healing.
I – ICE – Ice pack reduces the blood flow to the affected area and helps in reducing pain or swelling. Apply an ice pack for 20 minutes. Give it a break for 5 minutes and put it back on.
C – COMPRESSION – This helps stabilise the injured area and helps subside the swelling. Wrap a bandage snugly around the wound. Avoid tightly bandaging the area as it might obstruct the blood flow.
E – ELEVATION – Elevation prevents fluid accumulation in the joint. Try to elevate the affected area using a pillow while resting.

2. Heat therapy:
While it is advised to use ice bags immediately after the injury, once the swelling subsides, a hot water bag periodically on the affected area can help soothe the pain and aid in the faster healing of the injury. The heat increases blood flow and relaxes any strained muscles. Another good idea would be to alternate between heating pads and cooling packs.

3. Salt baths:
After a few days of the injury, introduce the affected area to a salt bath. Salt baths are known for their soothing properties. It helps in soothing sore muscles and reduces stiffness significantly, making the affected area mobile and functioning effectively.

4. Protect the injured area:
As you start the healing process, it is crucial not to put much weight or pressure on the affected area. Exerting the area can lead to further tears in the ligament or fracture. In the case of ankle sprains, it is best to avoid any sporting activity or heavy exercise for about two weeks.
You may use crepe bandages to provide external support to your ankles. Remember not to pack them tightly as it will prevent circulation. Similarly, in the case of wrist sprains, avoid lifting weights and use a crepe bandage, as mentioned above.

These are a few ways to give your sprain the care and time it requires to heal. Most of these steps are the aftercare suggested by doctors. However, you must go for a follow-up checkup. This way, you can rest assured that your injury is completely healed, and you can carry on with your daily activities.

In most cases, insurance companies help you go cashless during the treatment. Nevertheless, remember to keep the bills and reports handy for your insurer to verify details. Always go for the best personal accident policy in India for hassle-free insurance claims.

Click HERE for the best personal accident policy 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.

Whether you own a two-wheeler or a car, you should always ensure that you know everything about its maintenance and insurance. Getting insurance for your vehicle is of utmost importance. It protects your vehicle from severe damages by giving you compensation and solves third-party disputes.

However, just getting insurance for your vehicle is not enough. You also need to check out the various additional services offered by the insurance. This way, you can choose the most comprehensive insurance for your 2 wheeler. You must also inquire about all the essential terms relevant to your insurance. One such term is a constructive total loss. Although the term sounds complicated, it is not.

This article will help you to understand various aspects of a constructive total loss.

What is a constructive total loss?

You will likely file a claim for your 2 wheeler insurance only when your vehicle has suffered severe damages. Once you have filed a claim, the insurance company will inspect all the damages and reimburse the amount accordingly. Either you will get cashless compensation or money for the repairs. The damage is assessed well, and only compensation for the damages is provided.

If the vehicle is in dire need of minor repairs or servicing, the insurance company will reimburse that. It can also refund the amount for the replacement of bike parts. However, reimbursement only occurs after all the deductibles are assessed carefully. No matter the damage's severity, you will only get compensation up to the Insured Declared Value or IDV. You will not get any claim money that exceeds the IDV value.

There is also a major catch here. For instance, your two-wheeler undergoes irreversible damage. In such a case, the bike will be beyond repair. The insurance company can then declare it as a total loss. In other words, if the repair cost for the vehicle far exceeds its value, it results in total loss.

It is said that when the repair cost is more than 75% of the IDV, it is impossible to reimburse it. The constructive total loss takes place here.

Let's assume that your two-wheeler gets stolen. Then what will happen? In such a case, your insurance company will reimburse you for the IDV of your vehicle. The claim for theft of your bike will be treated as a total loss claim. The reimbursement amount will be sans the deductibles and depreciation.

How do you apply for a constructive total loss claim?

Now that you are familiar with constructive total loss let's look at the various steps to file a claim. They are:

● Go to the official website of your insurance company

● Look for the claims process tab or page

● You will see blanks to fill in your information

● Provide all the necessary information carefully

● After that is done, verify the self-inspection of your bike through the link sent to your mobile number

● A surveyor or inspector may be sent to get your vehicle inspected. Cooperate with them

● Once everything is done, you can submit all the required documents and forms

These easy steps can get you a total claim from the comfort of your home. You need to keep all these things in mind before you file a claim for your 2 wheeler insurance under constructive total loss. Once you give the correct information and abide by the guidelines, you can access the claim amount.

Click HERE to buy 2 wheeler insurance to protect your motorcycle from unexpected damages.

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.