GENERAL INSURANCE BLOG

The first task after buying a car is to get it insured. These insurance tools assist you in case of any damage or accident. Today, some of the best car insurance companies in India offers prompt service to clients in case of any mishaps. While the benefits of having insurance are known to most car owners, there is something more that you may need to know to make the best out of your insurance.

The best car insurance company in India would offer you the best insurance deals. But still, there can be limitations. You need to go through the terms and policies thoroughly before buying insurance. You will always find some restrictions no matter which insurance company you choose. The point is that you need to be careful about claiming the insurance. You need to know how to maximize the result despite the restrictions.

What are the situations when you need to rethink claiming insurance? Let us look into how you can utilize the facilities properly and make the insurance’s maximum use.

● When the car damage is minimal and it is a single-car accident - Car Insurances are generally claimed during severe damage or harm. When you are the only one involved in an accident, you may consider paying from your pocket in case of minor damage. You can save your premium insurance service and also avoid an insurance rate increase.

● When the amount is the same or less than the deductible amount - Even the best car insurance company in India provides a deductible amount. You need to calculate if the repair cost would be similar or less than the deductible amount. If this is the case, it is wise to avoid claiming insurance. You would need to pay after the amount exceeds. Thus it is better to save the insurance for the future and pay on your own if the damage is minimal. Don't claim insurance in such a situation as it would unnecessarily occupy your claim history and obstruct premium facilities.

● When you can settle with the other party - There can be situations when you get involved in an accident with another vehicle. Pay the repair cost if the damage is minimal. Try not to claim insurance in such a situation when settlement is possible.

● When your vehicle is old and you do not need a polished vehicle - You can simply ignore the minor scratches or any dents or dings if your vehicle is old. You can save money by avoiding the repair of insignificant and small damages and keep the insurance for further usage.

However, there are two situations when you must report the accident to your car insurance company in India:

• If the accident is major and caused significant damage to vehicles and individuals, you must report to the police station and inform the insurance company. Don't settle major cases between parties.

• Do report the case to the insurance company if any individual get an injury. This will secure financial aid for the treatment.

Conclusion

Save your car insurance for accidents that you may not handle by yourself. Act wisely and utilize the insurance opportunities properly. Lastly, make sure that you have all the required documents in place.

Accidents can happen at any time and are often uninvited. Since such events can have a tremendous effect on your financial health, having personal accident insurance is your key to ensure financial assistance for your family and your treatment.

Applying for personal accident insurance in India is convenient and comfortable as the process can be completed online. But do you know the procedures to claim the insurance facilities after an accident? If not, then here are the instructions.

What are the Steps to Claim a Personal Accident Insurance?

Personal accident insurance in India, can be availed over multiple plans. But the standard features are to assist the treatment of the injured, provide financial aid to the family (depends on the seriousness of the accident), and take steps to repair the damaged vehicle. Now, let us see how you can access these facilities when you face an accident.

Here is a step-by-step instruction to claim Personal Accident Insurance In India:

● The first task is to report to the nearest police station about the accident and collect an FIR copy.

● The next step is to immediately call up the insurance policy provider and report the accident.

● You may also choose to report the insurance provider online by notifying them on their official website.

● One of the employees will then visit and check the condition of your vehicle.

● The insurance company will send the vehicle for repair.

● After the company approves your claim, it will pay all the bills, and you can simply relax.

● Personal accident insurance in India also identifies if any person gets injured. It pays for the treatment of the wounded person as long as he needs it.

But there are some conditions that you need to follow to get the facilities. Let us look at some of those.

List of information required to file your claim successfully:

● Insurance policy number

● Name of the person who owns the insurance policy

● Registered mobile phone number

● Accurate date and time of the accident

● Number of damaged vehicles

● Specifications of the vehicle

● A description of exactly how the accident happened

● Name of the driver

● The insured person's details should be provided if the injured person is not the same

You have to be careful about giving out the correct information. Otherwise, the company may decide to reject your claim.

List of documents you need to get the insurance facilities:

● Fill up the claim form and sign it properly

● A copy of the FIR filed at the local police station

● Registration certificate of the insurance

● A copy of the driving license

● An idea of the repair needed to the vehicle

● An estimate of the injuries and treatment required

There can be many other documents that you may need to submit. The procedures vary from company to company.

Tips to Avoid the Rejection of Your Claim

To avoid insurance rejection, you have to follow some common points. You should not risk it and make a strong case. Provide all the information to support the incident.

Here are some tips that can help you to avoid rejection of personal accident insurance in India:

● Provide some photographs and videos of the vehicle and the injured person as supporting evidence

● If there is any witness, provide his details to the insurance provider

● Don't miss out on informing the police, as providing a copy of the FIR is mandatory

● Don't be late. There is a time limit within which you need to report the accident. Report it as soon as possible

● Don't exaggerate the condition. Tell the truth to the insurance provider. If they find you deceptive, they will immediately reject your claim

● Don't decide anything before informing the insurance company. Let them examine and do the needful

Conclusion

Now that you understand all the essential steps required to file a claim, we hope that you get your accounts settled without much hindrance.

Lastly, here are a few takeaways to add value to your readers:

● Ensure that you click pictures of damages and injuries to submit as proof

● Note down the name and number of any witnesses present on the spot (if available)

● Don’t refrain from lodging an FIR

● Be honest about the entire incident, don’t try to lie or cook up the incident

● Ensure that you file the claim in the suggested time limit by your provider

Accidents are uninvited and can happen to anyone, anytime. There is always a chance of an accident when you are on the road. While you may hardly get an opportunity to stop the accident, you can surely secure your financial condition after the accident. This is when you need personal accident insurance.

Yes, we understand your confusion around the new term! Relax, we have you covered. Let’s begin by simplifying the term for you.

What is Personal Accident Insurance?

The consequence of an accident is uncertain and the financial strain that it puts on your savings can be undefined. Therefore, to ensure the financial security of your entire family over such incidents, opting for Personal Accident Insurance is mandatory.

There are two ways to get personal accident insurance online:

● Group Personal Accident Insurance – Here, the company head, along with the employees, buys insurance. You may get discounts as several people purchase together. It is an excellent option to secure all the employees’ financial support in case of an accident.

● Individual Personal Accident Insurance – You need to apply for it by yourself. You get financial assistance in case of demise, disability, or significant injury that happened due to an accident

Interestingly, the advent of digitalization now makes it easier for applicants to get personal accident insurance online. All you need to do is provide your details to protect your family from uncertain events.

Why is personal accident insurance important?

Accidents can happen anytime. Especially when India’s accident rate is alarming, it is always recommended to have personal accident insurance. It not only secures your treatment after an accident but also provides financial aid to your family. Thus the overall financial stress on the family will reduce if you have insurance.

It helps you to process the documents effortlessly and seamlessly send them to the insurance company. The company completely handles the later procedures. Further, this insurance will provide you financial help and minimize the stress on your income in case of an accident.
Let us look into the advantages of personal accident insurance that make it available and effortless for all:

● Financial Security – You remain tension-free when you have personal accident insurance. You secure your family and ensure your treatment when you have insurance.

● Easy Documentation – Most people think of insurance as a complicated procedure. However, nowadays, the process is simple and can be done in a minute. You need to provide the basic information, and the insurance company will do the rest.

● Online Service – In today's time, the most significant benefit is you can apply for personal accident insurance online Thus, you can quickly minimize paper works and apply it whenever you are free.

● Apply without Medical Test – You need no medical document to apply for personal accident insurance. This makes the procedure more straightforward and more effortless.

● Use Wherever You Need – Personal accident insurance policy allows you to get financial aid regardless of location. You can use the insurance whenever and wherever you come across an accident.

● Get Ambulance Assistance – Having personal accident insurance means you start getting help just after the moment of the accident. Most insurance companies provide ambulance expenses to take the injured to the hospital. Thus, you get complete assistance in case of an accident.

Final Words

There is no substitute for personal accident insurance, and it is incredibly beneficial to secure financial aid during any mishaps. However, while you are navigating through different websites, don't forget to check out the terms and conditions to choose the best insurance option.

Health insurance policies provide financial coverage for most of the medical expenses that an insurance holder generates while the policy is in effect. One should always invest in health insurance to get subsidized medical care in times of need or health emergencies.

What to Expect From This Article

Everything you need to know about health insurance in India and policy renewal. Nowadays, renewal happens online. You can now buy a new policy and renew it through the company website. You can also use the internet to get price quotes from different companies and compare which policy offers the maximum value for money. You can compare the features, the sum assured and a host of other benefits provided to choose the policy that fits your criteria and budget the best.

Being Responsible

Most health-related expenses are unexpected, and therefore, it is crucial to have a financial cover during such adverse time. A health insurance policy is supposed to be renewed periodically for it to be functional. The renewal period is mostly a year.

Characteristics of a Good Health Insurance Policy

Adequate health insurance ideally covers all possible medical expenses. Health insurance comes in various versions. Depending upon what kind of policy you have, you can avail different types of medical costs ranging from surgeries to post-hospitalization care.

Interestingly, some companies also allow policyholders to add other options to customize the policy and make it even better suited to their needs.

Things to keep in mind while renewing your policy

Health insurance in India has an annual renewal period. Following are the five most important things to keep in mind while periodically renewing your health insurance policy:

1. Re-examining the health insurance requirements

2. Scrutinizing for any changes in the health insurance policy and its terms and conditions

3. Changing the insurance provider (if required) under the portability clause

4. Mentioning any new illnesses or allergies

5. Checking to see if a top-up plan is required

Let us now look at these requirements in detail:

• Re-examining the health insurance requirements

While renewing your health insurance policy, you must review the requirements to see if anything has changed. You should repeat the reviewing process for yourself and your family and make sure to stay on top of everything. This is necessary in the case of expanding families (childbirth) or the addition of a disease. This process also becomes necessary when you are changing jobs since a change in jobs entails a change in health insurance coverage.

• Scrutinizing for any changes in the health insurance policy and its terms and conditions:

Many changes could come about in the company policy and standard terms and conditions within a year. The policyholders are usually made aware of these changes through notices. It is necessary, therefore, to read all the notices before policy renewal.

• Changing the insurance provider (if required) under the portability clause:

If you feel dissatisfied with your current policy providers, you could always change your service provider under the Insurance Regulator and Development Authority (IRDA) provisions. This clause ensures a seamless shift to another insurance provider should you require it.

It is a useful clause since the process of changing occurs without losing any benefits. However, it is important to keep in mind that this change can only occur during the period of renewal. Further, it requires a 45-day notice to be reviewed by your existing insurance provider, to effectively make the changes.

• Mentioning any new illnesses or allergies:

Make sure you disclose all illness-related details at the time of renewal, to get appropriate medical claims.

• Checking to see if a top-up plan is required:

This move takes into account future health-based needs.

Conclusion

While your Health Insurance, policy has you covered over medical expenses, don’t forget to keep up with an active lifestyle. Remember, your insurance policy is just a tool to cover your costs in a critical situation but preventing such situation itself depends completely on how much you care about your health.