GENERAL INSURANCE BLOG

Recent years have seen a rising number of women actively contributing in every sector. Whether police services, office-goers, or cab drivers, women are stepping out of their homes to build a future for themselves. Even with the ever-growing numbers of women workers, only fifty percent of women invest in general insurance as opposed to seventy-two percent of their male counterparts.

Why are the numbers so different? Although there has been a progressive shift in women's lives, general insurance was conventionally associated with the household males. During the earlier days, men were the sole breadwinners of the household and handled all monetary transactions. So, it was usually considered the males' responsibility to ensure that the family remained financially covered. This lifestyle trend has not been seen as evident as the societal change that women have faced.

This article will examine why general insurance is essential for women and how it paves a path to financial freedom.

1. Financial security:
It is important to remember that general insurance is an essential resource for the family. With more women actively contributing financially to their respective households, general insurance becomes an irreplaceable asset. It not only acts as a backbone to the family's financial stability but also provides tax benefits, adding more value.
In addition, general insurance covers many things, including travel, medical, artificial disasters, theft, etc. Therefore, general insurance is necessary for women to ensure their families' financial security if they become the household's sole breadwinner.

2. Financial independence:
Statistics show that most women, even when earning, depend on their spouses or family for financial knowledge. This is surprising in consideration of the rapid growth of women in all sectors of life. To combat this dependency and to be able to handle their own money, investing in general insurance is the first step. Taking care of your finances makes you confident and in charge of your own money without having to depend on anyone.
Having your finances sorted at every step will ensure that your children, parents, or spouse can have a comfortable lifestyle, safe and enjoyable vacations with no worries about lost luggage or cancelled flights, or you can visit the best hospitals without worrying about the bills going through the roof. There are so many advantages and benefits to favouring you.

3. Loans and debts:
Most households must rely on loans to pay for their houses, vehicles, and other significant expenses. In case of a mishap, general insurance will be able to help you cover the loss and ensure that you won't fall behind on your loan payments due to the distress of any emergencies.

4. Critical illness benefits:
Certain health conditions are specific to women, such as breast cancer, cervical cancer, etc. With an unhealthy lifestyle and heavy amounts of impurity in the food and drinks one consumes, these diseases have become a part of one in eight urban women populations. Comprehensive health insurance and critical illness protection can help you rest assured in case of such illnesses and cover the cost of the treatment.

These are just some of the many reasons women should invest in a general insurance policy. As mentioned, not only is it an intelligent way to secure your family's future, but it is also a way to ensure your financial liberty. General insurance is imperative to add value to your life and secure financial independence. As a responsible citizen, you should encourage fellow women to invest in general insurance India as the first step to their financial freedom and security. More power to every woman!

Click HERE to know more about 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.

The pandemic significantly impacted every business globally, and the maritime logistics sector was no exception. However, this industry will continue to grow as the supply and demand cycle returns on track post-pandemic.

Maritime logistics involve preparing, implementing, and managing goods and information necessary for ocean carriage. Transporting goods via the ocean route is profitable, but it still has some risks, such as the loss or damage of goods. Marine insurance is a must, as it covers damage that may occur during transit between the starting point and the destination.

With the insurance cover, you can safely run your business, but you will need to stay updated about the latest trends. Here's a list of a few logistics trends significantly influencing the industry.

1. Circular supply chains:
The pandemic made many business owners realise they had to change their approach to developing shipping routes. It helps many businesses develop an alternate, more sustainable supply chain model for future global emergencies.
Shortening the current supply chain structure reduces ocean transit time and allows the industry to adopt an eco-friendlier approach and thereby improving product longevity.

2. New methods for data collection:
Maritime logistics also helps researchers and scientists to provide crucial statistics and weather forecasts. The researchers collect data from ships travelling in different oceans in various regions worldwide to predict weather and make other observations to curate possible solutions for efficient logistics.
The pandemic had put a brake on logistics which caused a lack of data collection for researchers. This made it challenging for researchers to provide accurate weather forecasting and analyse other crucial statistics. Now, researchers are using new methods like marine weather buoys for precise weather forecasts.

3. Automation and Digitalisation:
Tech-based automation shows significance in every sector and a strong future scope. For instance, many warehouses adopt automated processes such as cargo handlers, stacking cranes, unmanned unloaders, and more to improve efficiency and revenue.
Technology also makes the documentation and paperwork process digital. The digitalisation helps boost the organisation's productivity by improving turnaround time and work efficiency. You can expect automation and digitalisation to be an integral part of maritime logistics.

4. Real-time data visibility:
Live location becomes popular demand from consumers and clients. Trading partners and customers expect updates on order locations. With supply chain visibility, business owners help monitor order shipments and provide the clients with updated status of their goods. Knowing the real-time status of your shipping enables you to ensure that your ship and the goods are safe.

5. Systematic policy response:
The pandemic also caused the necessity of a systematic global policy for the logistics industry. Many new policies emerged as the demand for more features and coverage for international shipments. The logistics industry can witness more emergency policy response that helps maritime operations to have resilient and agile transport systems.

6. Decarbonisation:
Carbon emissions have been a major global problem for the last decade. Logistics ships are the main culprits for heavy oil emissions. These days, the enforcement of controlled carbon emissions has become strict, causing maritime operators to opt for fuel-efficient routes. The IMO (International Maritime Organization) aims to reduce greenhouse emissions and the carbon emissions caused by shipping by 40% in the next ten years.

Understanding the demands of consumers and the need for technology in the logistics process is the need of the hour to strengthen the maritime logistics sector in India. Business owners must plan and implement new trends in their logistics businesses to create better growth opportunities. Shortening supply chains can help lower carbon emissions and benefit the environment. Similarly, it would help if you also considered getting marine insurance to provide reliable coverage against losses due to damage to goods during sea transit.

Click HERE to buy marine 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.

Let's say you're a washing machine manufacturer. Due to some defect in the formulae of chemicals used in the hose pipe of your washing machine, it is more likely to burst. The product has already hit the shelves, and you're receiving massive backlash for the damaged goods and might be at risk of a few customers suing you. This event can potentially shut down your business as you don't have enough capital to pay for the legal fees. You are incurring huge losses now as you have to take down the products from the shelves.

The only way-out would be an insurance covering you against these unforeseeable liabilities. The insurance that is suitable for this situation is product liability insurance. Product liability insurance protects manufacturers, wholesale and distribution businesses, and retailers against claims that the product they have sold has caused harm to a customer, including either bodily or property damage.

This insurance is helpful for all kinds of businesses. Taking the above example of the washing machine, the company should be insured with this type of insurance. This is because when a lawsuit is launched, an enquiry is made on all the companies involved. Small businesses need it more than others because they usually don't have the capital to pay the customer and can quickly go bankrupt.

This blog explains why product liability insurance is a must for your company.

Coverage for design defects:
Design defects can bother customers long after the product has been manufactured and sold off. The customer, in most cases, can still sue the organisation which manufactures the product. Product liability reimburses you for the expenses incurred due to such design errors.

Coverage for manufacturing or production flaws:
The most crucial feature of product liability insurance is that it provides coverage for any manufacturing defects that might cause harm to a customer.

Protection against packaging concerns:
Sometimes the manufacturer does not provide an adequate warning on the product package, such as potential defects, instructions for properly using the product, or some allergenic substances. One example is how beverage companies have to warn if it is hot and not to be liable if the hot drink is spilled on a customer. Additionally, if there's some substance like peanuts or other common inflammatory substances in the product and it's not mentioned clearly, the manufacturer might be prosecuted. Product liability insurance provides coverage for all these situations.

Supplemental commercial general liability coverage:
Product liability policies generally work along with commercial general liability coverage to provide the company with insurance against such claims by customers.
There are several reasons to take product liability insurance as a business owner. But the payout certainly depends on which kind of policy you've chosen. The insurance cost depends on various factors, including your industry, the potential risks associated with that industry, your business's claim history, and the insurance company's policy limits. For example, getting cover for risky businesses like alcohol, tobacco, and contraceptives is challenging because of the high rate of lawsuits that are usually launched against them.

Insurance companies may charge you a higher premium for such kinds of businesses. It's always best to be insured to remain stress-free. Business owners should also invest in public liability insurance policy to provide the best coverage to third parties in the event of financial loss, injury or death due to an accident.

Click HERE to know more about public liability 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.

An important choice to make is whether to lease or buy a car. Before making a purchase, consumers should explore the options available in various models. The level of safety in a car is paramount. According to a study, sixty-five percent of buyers said safety is essential when purchasing a car, truck, or sport utility vehicle. Modern cars have more safety features than ever before, but not all are created equal when protecting their owners in an accident. Consumers now have easy access to reliable information through car safety ratings.

What factors influence car safety ratings?

Various government safety agencies and car crash test organizations publish their safety ratings based on controlled safety trials each year. They are mainly categorised as:

● The ability of a car to avoid a collision, in general, is known as accident avoidance. The effectiveness of several individual components is reflected in an accident-avoidance rating.

● Cars equipped with airbags are pre-programmed to deploy the airbags automatically in the case of a collision. They act as a buffer between the rider or passenger and the car itself, reducing the likelihood of catastrophic harm. Typically, front, knee and side airbags are standard in top-tier safety-rated cars.

● Anti-lock braking systems save lives by preventing the wheel from locking up when the brakes are applied. The car's traction is improved, and skidding is prevented. In areas of the country that get a lot of snow and ice, anti-lock brakes come in especially handy.

● A driver equipped with electronic stability control can quickly swerve the car without losing control to avoid an obstacle.

● Protecting your head, neck, and back from the painful consequences of a rear-end crash. Rear-end crashes aren't usually fatal but can cause serious harm. During rear-end collision testing, head restraints play a significant role. Safety professionals simulate these impacts to determine how well head restraints prevent whiplash and other neck and spinal cord injuries.

● Anti-rollover protection: Pickup trucks, vans, and SUVs are more likely to roll over than shorter cars because of their greater centre of gravity. Safety agencies also examine the anti-rollover protection capacity of a vehicle in their safety trials.

Buying decisions influenced by crash-safety ratings.

Crash-safety ratings show the typical outcomes from accident data and inform drivers about their and other cars' safety. Customers who are not car experts should read up on buyers' guidelines and all the specifics regarding the car they are considering, such as its crash test ratings, safety features, tools, and accessories. As the car is a long-term investment, every prospective buyer should pay close attention to crash test results.

Be a responsible buyer and never settle for less. Prioritise safety and consider it to be the most significant advantage as a driver. To sum up, crash safety concerns the danger of death or severe harm to the driver and passengers of the car in the case of a crash. Therefore, it is essential to have car insurance.

Overall, modern cars are safer for their buyers. Still, several aspects, such as the state of the vehicle, the surrounding terrain, and the driver's actions, have a role. Regardless of the safety features of the cars, whether you're shopping for a new or used car, buy car insurance online should be your top priority to ensure an extra layer of protection.

Click HERE to buy car 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.

A health insurance plan is an effective investment instrument to protect your finances against severe illness or an unfortunate accident. But did you know that your health insurance covers pre-existing ailments such as hypertension or diabetes too? Yes, it does! However, this insurance plan has a higher premium and different waiting periods.

You need to ask your insurer about all the available insurance plans and tell them about your pre-existing conditions. However, if you fail to inform your insurance provider about your health condition at the policy purchase, you should learn what will happen at the time of claim.

What are the pre-existing diseases?
A pre-existing disease is a person's health condition or illness before the purchase of a health insurance policy. To simplify, a pre-existing disease is an illness that physicians diagnose within 48 months of buying the policy. Some of these diseases include cancer, asthma, diabetes, cardiac conditions, and hypertension.

Ask your insurance agent about all the pre-existing diseases they cover in their policy. Policies that cover pre-existing diseases have a waiting period depending on your age and plan. Remember that the policy will not cover your medical expenses if you fall sick due to your existing medical condition during the waiting period.

How can non-disclosure of pre-existing conditions lead to trouble?
Non-disclosure of pre-existing medical conditions can be one of the primary reasons for claim rejection. Suppose the insurance company finds out that the policyholder has been suffering from health conditions like sleep apnea over the past seven years. In that case, the company will reject the insurance policy even though they have never made any claim in the past 05 years of buying it.

If another family member is part of the insurance policy, they will also experience rejection or cancellation of it due to non-disclosure of your pre-existing medical condition. So, you need to be careful and transparent regarding sharing essential information with your insurance provider to avoid missing out on crucial benefits.

The insurer has a robust finding-out mechanism that helps them know about their customers' health conditions. A policy buyer may forget what they disclosed in the insurance plan, but understand that the insurer never forgets.

What to do if you fail to disclose your medical condition?
If you fail to provide information about your medical condition when buying the policy, you can rectify your error during the 15-day free-look period. However, suppose you miss this opportunity to correct your mistake. In that case, the company will treat your policy as void at the time of claim, and you will not get any compensation for medical expenses.

*Note
According to the moratorium rule of the Insurance Regulatory and Development Authority of India, the insurance company will not cancel your insurance policy if you have paid premiums for eight or more years.

Suppose you are unaware of your pre-existing medical condition when purchasing a health insurance plan. In that case, the plan will cover your illness and hospitalisation expenses by default. However, the insurance company will consider any illness contracted within 03 months of taking the policy as a pre-existing disease.

So now you understand why disclosing all the health conditions clearly when buying a health insurance policy is necessary. Opt for insurance that has a short waiting period. It helps cover your pre-existing illness at an early stage. And we advise you to purchase a health insurance plan at a younger age to avail of coverage in case a disease occurs.

Click HERE to buy the best health insurance for you and loved ones.

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.

Convenience is the need of the hour during the age of rapid growth. It is common to see newly developed inventions being phased out shortly after a better discovery is made that serves the purpose and facilitates the fast pace of human life. One exception to this general rule is the case of two-wheelers in the Indian automotive market.

Two-wheelers are inexpensive compared to cars, making them an obvious choice for the economically impoverished. On the other hand, with the increasing demand for convenience, vehicles on the road keep increasing every year, inevitably increasing traffic. The easiest way to navigate through traffic is by travelling on a two-wheeler, which makes switching lanes and parking relatively easier.

Even if you do not own a two-wheeler, it is an exciting product yet to reach its maturity and full potential. Until then, we can expect extensive developments to reform it into a futuristic commuting option. Simultaneously, as two wheeler insurance online gains popularity, enhanced safety of the riders can be ensured to minimise accidents and their financial burden.

If this is not enough to excite you about two wheelers, here are some interesting facts that will surely do the trick!

1. Rural areas drive demand:
Usually, urban demand for a product is expected to be greater than that from rural and semi-urban areas. However, while two-wheelers enjoy demand across the country, rural and semi-urban regions have continuous demand. About 50-60% of the 2-wheeler market is catered to rural areas. This demand is quite volatile as their income is comparatively low and susceptible to changes in prices of commodities like vehicles themselves or fuel rates.

2. Expected YoY growth:
Before the pandemic, the market for 2-wheelers was expected to grow at least by a prudent 10% each year. However, when comparing the sales of September 2019 and 2022, an evident exponential jump in sales has been noticed, proving its utility.

3. Hike in prices:
Since the pandemic, supply shortages have led to increases in raw materials prices, which have ultimately been passed on to the customers in the case of most consumer products. In addition, the consistently increasing production costs and the rising inflation rates have left two wheeler makers with no choice but to hike up vehicle prices.
This has been a significant factor that has made buyers hesitant to purchase two wheelers, as current prices are up by almost 15-20% compared to the pre-pandemic rates.

4. Gearless scooters see equivalent demand:
The ease of maintenance, relative inexpensiveness, and convenient usage make gearless two wheelers a popular option in India. It is common to see more and more gearless scooters on the roads, which speaks for its popularity.

5. Growth of electric scooters:
While the market is presently dominated by vehicles that run on fuel, a slow transition to electric vehicles has been noticed in cars and scooters. The total share of electric two-wheelers in the Indian market was around 3.5% as of July 2022, and the government has a vision of achieving 100% penetration by 2027. Although the numbers are minimal now, it shows the interest of the Indian consumer and the possibilities of the future.

The Indian two wheeler sector continues to grow despite all odds, some years at a slower pace than usual. While the vehicle provides convenience, it is essential to emphasise one’s security when riding a two wheeler and follow all necessary safety precautions. It is critical to purchase two wheeler insurance to prevent the financial strain any mishap may cause.

Two wheeler insurance online is a trending option that simplifies the process without having to leave the comfort of your home and provides an easy comparison between alternatives. With two wheeler insurance online, you get the advantages of affordable premiums, great deals, continuous customer support, and a seamless experience.

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.

Fire in a house can be devastating and bring the entire house down to ashes in just a few moments. You need to be very cautious with the flammable items in your home as they can threaten your life, including your family and valuable assets.

A fire outbreak can be due to several reasons, most of which are beyond our control. Still, we can control the spread of fire, douse it with the help of fire safety equipment, and recover the damages with the benefits of buying fire insurance online.

Let’s first go through a few flammable items in our house that we must be careful about.

1. Hand sanitiser:
Hand sanitisers have become very popular in every household after the onset of Covid-19. People have started using it extensively at home and even advise their children to use it frequently.
However, very few people know sanitisers are highly flammable because they contain alcohol. You should never use sanitisers near a gas stove. Also, you should not carry a lighter with a sanitiser bottle in your bag as it can be dangerous and can catch fire.

2. Nail polish and nail polish remover:
We can find nail polish and its remover in almost every household in India. They are easily available in the market, and even children can access them. However, we must know that they consist of acetone, a highly flammable substance.
Even the vapour that they produce is highly flammable. Hence, we should keep both of them away from any source of flames, such as a candle or a matchstick at home.

3. Flour:
Surprised? Yes, the flour we use daily in our kitchen is flammable, especially flour dust in the air. Flour can burn easily from all sides. It allows flames to pass through it quickly because of its large and flat surface area. Hence, we should be careful when we use flour near the gas stove in the kitchen.

4. Grooming products:
Many beauty products we use frequently are flammable and can cause a fire in our house. Products like hair mousse and hair spray can ignite fire very quickly. Moreover, the fancy deodorants and air fresheners we use daily come in aerosol cans. Avoid exposing such cans to a naked flame, as they can quickly catch fire. You should also avoid keeping these cans at high temperatures as they can combust because of temperature and pressure.

5. Ghee and cooking oil:
Cooking oil has a low flash point, making it highly flammable. Similarly, ghee can catch fire easily, too, if overheated. You must be careful while using both in the kitchen.

6. Oranges:
Our favourite fruit, “Orange,” consists of an extremely flammable chemical called limonene. It is used as a fire starter for campfires and fireplaces. Hence, it can cause a big fire if exposed to an open flame.

7. Home mattresses:
We often light a candle on our bedside or even on the mattress. Smoking a cigarette while sitting on our bed is also very common. You should be aware that mattresses are highly flammable. They can result in the fast spreading of fire in a room because of their flat nature and big size.

We have seen that many items of our daily use are flammable and can spread fire in the house if exposed to even a small flame. The loss of property and lives can be irreversible and completely shatter our world. Fire insurance protects us against losses and damages to property caused by a fire at our house.

The cause of the fire can be electrical short circuits, gas leakage, or other reasons such as those mentioned above. Most policies will provide coverage even if the fire originates outside your house. Hence, think no further. Protect your house and property by buying fire insurance online today and enjoy complete peace of mind.

Click HERE to buy the best fire 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.

Headaches are the most common but often ignored problem that people face. Having a headache can dampen your mood and affect your concentration levels. They can be different and range anywhere from moderate to excruciatingly painful. The treatments for headaches can differ depending on the type and intensity of the pain. Although most headaches can be cured with rest and over-the-counter medicines, it is best to consult a doctor if the pain persists.

If you suffer from headaches frequently, this article will be a complete guide to discussing the different types of headaches and their treatments.

1. Cluster headaches:
A cluster of short yet excruciating headaches is called cluster headaches. They tend to happen periodically over years or months, or days. These headaches occur due to an affected trigeminal nerve, responsible for sensations of pain and heat in the face. The pain is concentrated on one side of the face starting from the head and branching out to the eyes and jaws.
These headaches last only a couple of hours and can be treated with painkillers and other preventative medicines. If you tend to have these headaches often, it is best to talk to your doctor and get a prescription for preventive medications that you can always keep on you in case of emergencies.

2. Migraine headaches:
Migraine headaches can show symptoms differently for different people. Sensitivity to smell, light, and sound accompanied by nausea is one of the most common symptoms of migraine attacks. These headaches stem from the nervous system and can sometimes affect your eyesight for a temporary duration of time.
Other symptoms include blurred vision, tingling sensations, and numbness on one side of your body. Aspirin, caffeine, and ibuprofen are some of the common over-the-counter drugs that can help in the faster recovery of migraines. Some home remedies include resting in a dark, quiet room, an ice pack on the forehead, and ample fluid intake.

3. Tension headaches:
As the name suggests, tension headaches or stress headaches are caused by persistent stress. The symptoms are less complex as compared to migraine or cluster headaches. Uneasiness, mild pain in the temple, sleep deprivation, and fatigue are some of the common symptoms of tension headaches. Poor posture, overexertion, and emotional stress trigger this kind of headache. Painkillers and sufficient rest can help you cure the pain instantly. However, if you face the problem often, it is best to seek medical attention and get any tests done if the doctor recommends.

4. Thunderclap headaches:
This is one of those headaches that might need immediate medical attention and can cause fatalities if not taken care of. These shooting headaches, nausea, and vomiting can often result from internal bleeding in your brain. The pain develops rather suddenly and lasts for about five minutes. Suppose you experience severe shooting pains or experience a new kind of pain. In that case, it is best to talk to the doctor immediately, as these are often indications of an underlying fatal problem.

These are some of the most common kinds of headaches that you might come across. Remember that no matter what, if the pain lasts longer and you experience bouts of shooting pain, do not wait for the pain to worsen. Contact a doctor immediately and get the required medical attention. After a preliminary round of tests and diagnosis, the doctor might suggest surgeries as a solution.

Under these circumstances, the cost of treatment can be very expensive. To safeguard yourself against these expenses, you can opt for an affordable health insurance plan for yourself and your family. A quick search on the internet shows many affordable health insurance plans that you can choose from. Take ample rest, have your food on time, drink plenty of water, and do 10 minutes of exercise daily to avoid the majority of headaches.

Click HERE to know more about affordable health insurance plans.

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.