GENERAL INSURANCE BLOG

Are you happy with your existing car insurance policy and making repeat purchases from the same insurer every year? Your busy work schedule doesn't allow you to squander on choosing a new insurance plan or an insurance company every time your car insurance renewal is due. Anyone would know that renewing an existing policy is far easier and uncomplicated than looking for a new insurance company each time.

But do you know that your insurer also offers a certain level of loyalty appreciation to their existing customers? Most insurance companies offer reward points to their "mini-marketers" for renewing their policies, as these customers act as their company's brand advocates. They provide loyalty benefits to prevent policyholders from switching to other companies with competitive premium rates.

This article will explain 3 significant advantages of opting same insurance company for a car insurance renewal.

1. No Claim Bonus (NCB): Do you know that you get rewarded for not claiming your insurance? That's true; you receive the No Claim Bonus (NCB) when you have had a previous policy and have not made any claims during the policy period. The insurance company gives you a discount on your insurance premium as a reward in the form of a No Claim Bonus (NCB).

2. Decrease in Deductibles – enjoy surprising discounts: Few insurance companies offer you a reduction in deductibles for sticking with them. Usually, multiple factors determine the amount of reduction, like the number of claims-free years you have accumulated in your plan. Even in some scenarios, the car insurers entirely wave off your deductible. Meaning you don't have to pay any deductible at the time of the accident. Though it doesn't help you save any premium, you undoubtedly get cost benefits when filing a claim.

3. Buying a new policy – is it necessary? There are many other costs to starting up a new policy. For example, most insurance companies charge new policy process fees and might require a down payment. In addition, keep in mind that you will also lose the benefits at the time of car insurance renewal if you switch to a new insurance company. Therefore, considering the expenses mentioned above, the overall process of changing your insurance company could prove to be much costlier than what you would have initially anticipated.

Whether staying or not with your car insurance company is a personal choice. However, it is also good to get an insurance quote from other companies to keep up with car insurance renewal and market trends. In addition, there are other things to consider like customer service and claim service that are important for your decision.

Loyalty will nurture the relationship between you and the insurance company that will be beneficial for the long run. If you are satisfied with your current insurance company on the above parameters, there is no need to go around checking out new companies and giving up your loyalty benefits.

So, as you prepare to hit the "renew" button, consider these valuable points to get the privileged customer badge from your car insurance company.

Check out the best insurance plans for your car. Click HERE...

For adventure seekers, biking trips across India have become more common than you would have imagined. Bike riders are known for their love of long, challenging excursions and trips. For any bike owner, going cross-country is always on the bucket list.

A long-distance bike ride will put your riding skills and your bike’s endurance to test, so it is suggested to prepare thoroughly. Before starting your journey, make sure you have insured your vehicle with valid bike insurance.

While you have shortlisted your destination, we have also made this list for you to look at quickly:

• Tip 1 – You should plan a budget to spend on the trip and try not to exploit it.

• Tip 2 – Do invest in safety gear like helmets, gloves, jackets, glasses, shoes, knee elbow guards, and so on. Also, ensure that everything you buy is certified and genuine. Your safety is paramount for a pleasant trip.

• Tip 3 – Schedule a bike servicing right before leaving for the journey. Facing issues midway is certainly something you would not want.

• Tip 4 – Learn how to ride for long hours and the highways. Just starting with your tour is not how it works. You will have to practice at least a month before you begin the trip because these long journeys are the actual test of your endurance.

• Tip 5 – While packing for the trip, do not forget the following: two-wheeler documents, PUC, your ID (preferably Aadhar card), a spare key for the bike, and bike insurance papers.

• Tip 6 – Pack light for the ride. Don’t end up carrying the unnecessary weight. Be smart and only pack the bare minimum.

• Tip 7 – Be prepared for unexpected changes in the weather. When travelling for a long distance, chances are very high that the climate will keep varying.

• Tip 8 – Stick to your schedule and try not to take any detours. Install a GPS device on your bike and carry a physical map, which helps you navigate your journey.

• Tip 9 – Avoid late-night rides. Starting early and ending early is the bikers’ motto. Riding late at night can be tiresome as well as risky.

• Tip 10 – Stop at regular intervals. In your spare time, let your bike cool down, inspect it, or take some time for refreshments before you set off again.

• Tip 11 – Plan up an itinerary. Set a time for daily rides, breaks, stay and follow it.

• Tip 12 – Don’t miss out on the fun. You may face difficulties, but everything about this trip will be worth it. So, enjoy the ride and give yourself a break from the daily hustle.

The most important tip out of all is to ensure bike insurance before travelling anywhere. Keeping your two-wheeler insured is a step towards security and should not be neglected.

Put in some effort and follow the above tips to create an unforgettable journey to cherish for yourself. Good memories make great stories, so pick your bike and don’t miss the opportunity to do something thrilling in life.

To look for bike insurance online, click HERE...

How can you make your car insurance foolproof? The intricacies of car insurance can be puzzling, but it is undoubtedly worth the effort. After purchasing a car, an intelligent person’s first thing is buying insurance, as one shouldn’t delay good deeds. Car insurance is just as valuable and necessary as health insurance. It is crucial to be secure financially once you get behind the wheel.

We bring you tips for making the right decision so that you select the best possible car insurance policy and enjoy stress-free driving:

1. Always review the policy cover yourself to make sure it fits your requirements. Do not go for the first deal suggested by your dealer or insurer.

2. Cut down the costs of any non-required benefits provided in the policy to get reduced premiums.

3. Search for additional discounts such as membership benefits or one-time payment discounts, etc.

4. Make a sensible move and go for higher deductibles. A higher deductible will make your annual premium cost lower than expected, leading to a profit.

5. Do not settle for the first policy that comes your way. Explore your options carefully, compare every selected choice and then opt for the best suited one.

6. Usually, if you get insurance for a single car, it ends up costing more. Getting insurance for two or more vehicles at a time will save you thousands. This is known as the multi-car discount or bulk rate in insurance.

7. Insurance companies may consider the credit ratings of a driver while evaluating the premium cost. Therefore, keeping your credit rating high is only going to be beneficial.

8. A Pay-as-You-Go policy is the best choice for people who drive efficiently. This policy tracks driving to calculate your annual discounts based on how well the car is driven. So this way, driving safely can now save you additional bucks.

9. Do not forget to claim your yearly bonuses such as NCB while renewing your car insurance policy.

10. To avoid inspections of your car from the insurance company, be punctual when it comes to renewing the insurance. Companies may conduct tests on the vehicle to ensure its performance if the policy is not renewed on time.

11. Installing a certified anti-theft device in your car will get your premium cost reduced by the company.

12. Your geographical area makes a difference in the premium of your policy. Two people using the same car model, the one living in an urban zone, will have to pay more than the other living in a rural area.

13. A company providing you with a Cashless option is of advantage since you will never have to worry about arranging cash every time you make a claim.

14. Avoid waiting for your policy to get issued. Instead, take advantage of the updated technology, go for insurance that is given in a short time and does not take months to issue the policy to the buyer.

15. Switch to online policy purchase mode as you get an additional discount for online insurance.

Were you able to draw productive outcomes from the above tips that we have stated? Although car insurance is a basic necessity in today’s life, it can sometimes be cumbersome to your pocket. If not chosen wisely, one may end up paying more than required. So be smart and stay safe by considering these tips when buying car insurance.

For more information on car insurance, click HERE...

Buying online motor insurance is growing into a trend. With the wide availability of many online insurance options, it takes just a few minutes to purchase an ideal 2 wheeler insurance online. The simplified processes help you with the best insurance policy for your two-wheeler instantly.

So, if you too own a two-wheeler and are planning to insure it online, below are the steps you need to follow.

1. Do the best research work:

To purchase an appropriate 2 wheeler insurance online, you need to have a basic understanding of how two-wheeler insurance works. You need to carefully study and compare the plans of different companies by taking their premium, settlement policy, and benefits into account. Familiarize yourself with terms like Insured Declared Value (IDV), Zero Depreciation, No Claim Bonus, Third-party Liabilities, and so on. This helps you to choose the best insurance plan for your vehicle.

2. Selection of a trustworthy insurance company:

Undeniably, selecting the best insurance company results in getting a perfect insurance plan. Always choose a reputed and recognized company. Also, keep track of the company’s sales pattern, settlement process, and after-sales customer support. You can even go for Third-Party 2 wheeler insurance online. Selecting an insurance company with a good customer base and effective customer support secures your vehicle against a wide range of hassles.

3. Look for the insurance plan that suits your requirements:

Once you have selected the best insurance companies, you need to check the various insurance policies listed on their website. Go through all the details of those plans, settle on the best plan that fits your requirements, and then enter your required details and share the necessary documents to buy it.

4. Set your two-wheeler’s IDV:

Post selecting your insurance plan, the next step will be entering the IDV of your two-wheeler. Basically, IDV represents the current value of your two-wheeler in the market. With time, IDV observes a downfall and affects the premium of your insurance. It can turn into the amount you can claim entirely from the insurance company if your two-wheeler faces damage or theft.

5. Pick the add-ons and proceed to payment:

Note that you can select add-ons only if you are investing in a comprehensive insurance plan. Add-ons like cover for Pillion Rider, Zero Depreciation are the best ways to boost the scope of your insurance policy. After successfully completing all the above steps, you are set to proceed to pay the policy premium online. Choose your mode of payment from the options available, make the payment, and soon you will receive the docket of your insurance policy on your email address as an acknowledgement. You can simply print this document to present as proof whenever requested.

Buying online insurance plans are increasingly replacing the conventional method of purchasing insurance policies through agents. These are fast and convenient options with many advantages like lower premium compared to their offline counterparts. Follow the trend that gives you complete control as you take a well-read decision based on terms and conditions shared by the insurance agencies online.

Have A Two-Wheeler But No Insurance? You Can Buy A 2 Wheeler Insurance Online Here.