GENERAL INSURANCE BLOG

Car insurance costs can vary significantly depending on various factors. The total price you give at the beginning of policy renewal is the cost of the car insurance. In this article, we will look at a few factors responsible for the total cost of your car insurance.

1. The model of the vehicle can significantly determine the cost of your insurance. The more the market value of the car, the more will be the insurance cost. If your vehicle has good engine capacity, advanced technology, and electronic features, the overall cost of your insurance will be higher.

2. The geographical location is a lesser considered factor when it comes to car insurance. If your location is the face of extreme weather conditions such as rains and cyclones, then it is likely that the costs will increase. These are not just limited to natural calamities. Human-made disasters like riots and vandalism also fall into this category. Areas prone to riots and destruction can lead to heightened insurance costs.

3. Driving records are one of the most crucial factors that decide the cost of your premium. If you have a clean track record with no accidents or speeding tickets, then it is highly likely that your insurance costs will reduce. If it is proven that you are a responsible driver, then it automatically translates to lesser chances of accidents and danger. On the other hand, even if you have one ticket or one accident under your belt, the insurance costs can drastically change.

4. Suppose you have never raised a claim or are eligible for a no-claim bonus when you sign up for your online motor insurance renewal. In that case, insurance companies will provide you with a hefty discount on the insurance costs. If no claims have been made so far in your tenure, it proves that you are a responsible driver and a car owner. All these are extra points that the insurance companies consider while calculating the final cost.

5. If you have opted for voluntary deductibles, then the overall cost of the insurance falls automatically. However, this will not be possible if you take third-party insurance. Ensuring that you as an owner will pay a pre-determined amount in case of accidents and damages is a sign of assurance that you will not partake in malpractice to take unlawful benefits of the insurance system. Due to this, insurance companies will provide you with a low-cost insurance policy.

6. Digital insurance is the new policy in the market. With everything digitised, companies can cut costs on operations. Hence, they can offer better policies at lower price points. Consider opting for an online motor insurance renewal to understand digital insurance better. You will get a perfect walkthrough of the online procedures.

7. The type of fuel that you use in your vehicles can also determine the cost of car insurance. If your vehicle runs on CNG or diesel, then the cost of insurance will be more than that of cars running on petrol. Not only that, but the mileage also decides the overall cost of your insurance. These factors contribute to the overall IDV or the insured declared value. The higher the IDV, the more the cost of car insurance.

These are some of the factors that affect the cost of the car. Remember that proper maintenance and aftercare will help your vehicle run smoothly for an extended period. You must provide timely maintenance and servicing to keep your car working correctly and efficiently. Add more value to your vehicle by investing in good car insurance offers available in India. If your car insurance is about to expire, let this article remind you to opt for online motor insurance renewal for a contactless and hassle-free experience.

Click HERE to find out more about online motor insurance renewal.

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.

How often have you forgotten your spectacles at home and had difficulty recognising people's faces from a distance? These are some of the widespread yet frustrating problems people face with glasses. One of the most convenient and revolutionary technologies for solving this problem is laser eye surgery, popularly known as LASIK surgery.

With about a quarter of the world facing vision problems, it's not surprising that laser eye surgery is becoming increasingly popular. This blog aims to give you an insight into this technology and how it is revolutionising the world.

The need for LASIK:

When we look at a particular object, light from that object enters the eye and passes through the natural lens of the eye. This natural lens is responsible for correctly refracting the light to hit the retina. The eye's retina is responsible for focusing all the light and sending signals to the brain to help us interpret what we're seeing.

When light does not focus upon the retina correctly, vision can get blurry. This might be because the cornea isn't curved perfectly, or it can be because the eye lens present in our eye is slightly longer or shorter.

This refractive procedure is usually done to correct one of the following three vision problems: Myopia, Hypermetropia, and Astigmatism.

How does LASIK work?

Laser surgery is a procedure where the patient's cornea is reshaped by using an evolved cutting laser technology to help it refract the light to provide clear vision. Corneal reshaping is done by mapping the entire cornea precisely and then using this to plan the surgery accurately.

Pros:

1. Quick and safe – The most inviting aspect of this procedure is that it is a short one. LASIK takes only 10 minutes to mitigate your vision problems for each eye, so 20 minutes total to have perfect vision. It is also a very safe procedure, with 98 percent of people satisfied with the surgery's results.

2. Painless procedure – This procedure is entirely painless due to the eye drops your surgeon will apply at the beginning of the operation. Moreover, there is minimum post-operative pain, with no stitches or bandages required after LASIK.

3. Fixed cost – While the procedure is cumbersome on the wallet, it is a one-time investment. Glasses and contact lenses are cheaper than surgery, but they are building expenses with the cost of regular eye check-ups, lenses, and frames. However, there's a good chance LASIK is not covered by your insurance. Research online health insurance to find one that does.

4. Enjoy your favourite sports without fear – For many people, this surgery is not an option but a lifesaver. Whether you want to enlist in the police, army or play contact sports where wearing glasses is not an option, LASIK is the knight in shining armour if you don't want the hassle of carrying your lenses and lens cleaning solution everywhere.

Cons:

While this procedure has numerous advantages, there are some drawbacks too. You need to take several things into consideration before taking this big step. It is a huge investment and might burn a hole in your pocket if you're not ready. Like any other surgery, there are risks and side effects involved. Some side effects include dry eyes, a halo effect with bright light, and poor night vision. Consult your eye specialist before making any decision.

Although laser eye surgery is relatively quick and painless, you must take proper precautions. Avoid using any eye makeup or lotions around the eye for about three days before the surgery. Also, make sure to arrange a ride back home because you might not be able to drive right after the surgery due to blurred vision and the sedative. As most insurance plans might not cover the cost of laser eye surgery, it is best to research online health insurance to understand the terms.

Click HERE to know more about online health insurance.

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.

We all have experienced planning a vacation with our family or friends, checking the travel fares and hotel rates, and making a budget for our trip. However, a harsh shock awaits us when we try to book the flight, train, or hotel room close to our departure date. Last-minute bookings cost us extra, and we may not even get our preferred travel and stay options.

Last-minute holiday planning is almost always upsetting. Here, it would help if you also acknowledged the pinch of delaying purchasing personal accident insurance online only after the occurrence of a mishap.

Read on to know more about the benefits of budgeting for your travel plans in advance:

1. Soaring rates:
Airlines hike their flight rates closer to departure dates. Nowadays, train ticket rates are also priced on a flexi-fare system and get pricier as the travel date comes closer. Hotels also increase their tariff when demand rises. Therefore, the later you book, the higher you will have to pay for the same room.

2. Great deals and discounts:
Travel companies and websites offer great deals and discounts for early travel bookings. You get discounts on travel services, accommodation, rental cars, etc. Additionally, keep track of special deals and discounts that travel websites occasionally provide during festivals, special occasions, or off-season periods. Some companies also offer extra discounts for paying through a specific credit or debit card.

3. Planning for expenditure:
Budgeting your travel plans in advance can also help you save for your dream trip and be ready for it when you plan to go. Prepare a list of all the possible expenditures you may incur during travel. Make the possible reservations in advance so your travel expenditure is split up in parts and does not burden you in one go.
Proper budgeting of your expenditure will take away the stress from the process. You can streamline your payment and start saving more for your trip. You will not feel the burden of your travel expenses when you eventually go and will enjoy your trip with a free mind.

4. Extra time for research:
Every holiday destination has many options concerning the places to visit, travel modes, accommodation, sightseeing, etc. When you plan your trip in advance, you can thoroughly research the possible activities you can do there and find out the best rates for them.

5. Holiday rush:
Rates for travel, accommodation and other allied services shoot up during peak season and may pinch you hard. Make your travel plan well in advance and get confirmed reservations, along with saving a lot of your hard-earned money.

Travelling is a shared passion amongst a majority across the globe. However, it is by no means an inexpensive hobby to engage in. Always budget your travel plans in advance and prevent feeling a pinch in your wallet.

Similarly, Never compromise your safety behind the fun of going on a trip. With personal accident insurance online, you can avoid incurring financial upsets when you meet with an accident. Accidents don’t come announced and can cause heavy financial damage in the long run. Browse several personal accident insurance online, evaluate their pros and cons, and choose the most comprehensive coverage policy. Take all the necessary precautions and ensure that you have a safe holiday.

Click HERE to buy personal accident 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.

Managing one's finances and accumulating wealth are essential activities that one must learn right from childhood. However, since most parents do not talk much about finances with their children, young adults grow up without knowing much about critical financial decisions like how to buy general insurance online, investing fundamentals, savings, etc.

Investing is an ideal way to grow one's wealth. The drastic price dip and sheer boredom during the pandemic introduced new investors into the stock market. However, you should avoid those rookie mistakes that most investors make with their money. This blog presents some common financial blunders you should consider before investing.

1. Constantly consuming media about the market:
It is very tempting to watch news channels that offer trading advice 24*7. These channels give what seems like certain information, but it is not advisable to take advice straight from them as they have no idea about your financial situation. Additionally, when this information has been made public, it has already been factored into market pricing, and listening to them becomes futile. Seasoned experts in the market take their information from several independent sources and then derive their conclusions.

2. Being unclear about your investment goals:
Make sure you are clear about the direction of your investing journey. After having a separate savings account that serves as your backup in case something goes wrong, the rest of the money is safe to invest. A common mistake most individuals make when investing is to expect high returns as the end goal. While making money is important, you should balance it with the amount of risk you're willing to take, and that should be determined by looking over your other financial goals.

3. Too high expectations and a lack of patience:
Investments can be of two kinds, short and long-term investments. While short-term investments provide greater returns, they are riskier. Give long-term investments adequate time to maximise your returns. Bailing out before an asset has matured because of fear is one of the most common mistakes you should avoid.

4. Inadequate diversification:
Don't put all your eggs in one basket, even if it seems like the safest basket in the world. Often, investors make the mistake of putting all their money into one investment they believe will be secure for quick returns. This may be disastrous if the market moves another way. Diversify your portfolio to get consistent returns. Ensure you diligently research various asset classes and associated risk levels to identify the best returns at your risk appetite.

5. Letting emotions get in the way of your investments:
Too often, investors will fall in love with a particular company due to its value proposition or its past performance. However, it is essential to understand that the stock is only here to make you money. So, when the company's fundamentals no longer align with your interests, consider selling the stock.
Fear and greed are the greatest adversaries of an investor. They should not come in the way of your financial decisions. Market returns vary significantly in the short term but are generally predictable in the long run. To be more tension free, buy general insurance online after adequate research.

Investing sooner than later is one of the best decisions you can make. This gives you time to learn how the market functions. Most people fail to enter the stock market because they believe they don't possess the basic knowledge it requires. But this is a skill learned on the job. Start by investing significantly less money and increase it as your confidence increases. Happy investing!

Click HERE to buy general 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.