Points To Check While Buying a Comprehensive 4 Wheeler Insurance

Road accidents and other mishaps do not happen with a prior forecast, and it can happen to anyone. Hence, the government has made it mandatory to at least have third party car insurance for every car owner. Nonetheless, this insurance covers only the damage caused to the third party during accident, and in order to have a better cover of one’s own vehicle, one can go for one of the comprehensive 4 wheeler insurance plans available in the market.

Buying the right insurance policy is equally important as it is to buy the right vehicle. Here is a mention of some essential points, which need to be kept in mind while buying a 4 wheeler insurance policy:

1.  Have a clarity about what all is covered by your policy 

This is the most basic yet one of the most criteria when it comes to buying an insurance policy for your 4 wheeler. Usually theft and accidental damage are covered under a standard insurance policy. However, some parts of your vehicle do not get full coverage. Getting to know about what all is covered in the policy is important.

2. Know about the add-on plans

As the name says it, add-ons offer additional benefits that you can get in case of several events or damages along with the usual benefits that your insurance policy offers.

3.  Customize your car but not at the verge of risking your insurance policy

When you make some changes in your car or customize it, make sure you do not compromise your insurance policy. Do read the instructions carefully before you plan to make any change in the vehicle.

4. You requirements are important!

There would be no surprise if you get overwhelmed with the choices available. However, you need to buy a policy which is most suitable and meets all your requirements.  

So before buying a suitable comprehensive 4 wheeler insurance policy, make sure you evaluate your requirements and then make your final decision.

How to Find the Right Car Insurance for your Car

Car insurance policies bring financial safety and security to their owners against losses and/or damages resulting from car accidents. Being financially secure also provides you freedom from mental stress that accidents generally expose you to.

With numerous car insurance policies available in the market, selecting the right kind of insurance can get a little confusing, which is why you need to know how to go about the whole process. To give you a head start, here are a few things you must consider when opting to buy new car insurance for your vehicle 

Know your Insurance Needs

One of the first things you need to understand with respect to buying car insurance is what your requirements are. Your needs may differ from that of another car owner. Knowing what you want your new car insurance policy to fulfil will make selection easier.

If you have sound financial standing, you can purchase a comprehensive cover for your car. This is also a viable option for people who own expensive cars, repairing or replacing which could cost them a fortune. But, if you have an older car that isn’t worth much on the market or you have a tight budget, you can always opt for third party liability car insurance.

Learn About your Insurer

Another important point that all car owners must keep in mind is inspecting the background of the car insurance company they are buying the insurance from. To go about this, you need to check how long the company has been in the market, what kind of reputation it holds, what their past customers have to say about them, and so on. You can start with checking out their website, going through their products and services, etc. Customer reviews and claim settlement ratios are a few other things you should take into account.

Compare Policies Before Buying

One of the biggest boons of modern times to the insurance sector has been the facility to compare policies online. Doing so will help you narrow down insurance plans based on your requirements and budget.

Besides the above, you must also go through the policy documentation carefully and consider add-on covers. This will help make your new car insurance policy more valuable and efficient.

How to Choose the Best Insurance Partner for Your Bike?

What is Insurance? It is an arrangement by which one entity undertakes to compensate another entity for a specified loss, in return for a certain premium. This is a means of protection against financial loss. The objects that can be insured are material things such as buildings, vehicles, property etc, or can be a person’s life and related actions, such as health, injury etc.

Mistakes to Avoid while Choosing an Insurance Partner

Our vehicles are one of the main objects that need to be insured. But since most of the ‘insuring the bike’ is done just because it is required by the law, one often picks the first Insurance company which comes to mind.

Some of the Common Mistakes that we Make Before Choosing these are:

·   It is wise to compare a few companies offering the insurance policies, make a comparative study of the benefits, check the premium bike insurance policy amounts against the cover offered, and then decide which company suits you the best.

·   Most insurance companies offer the cover based on the premium amount. Looking across companies offering bike insurance policy can help you decide what cover you would require and the best premium you can pay.

·   Many times, it so happens that an insurance contract is entered into without reading the terms and agreements of the contract. Reading the terms and conditions can give you an insight into the company’s workings.

·     There is a small thing called a ‘No Claims’ bonus that many people do not claim. When during the period of the bike insurance policy no claims are made, then at the time of renewal companies offer a bonus on the premium amount. Claim the bonus and reduce your premium.

There are many ways one can get a bike insurance policy. Get in touch with an agent, buy the bike insurance policy from the dealer or shop for bike insurance online. Whatever you choose to do, there are some points which will help you pick the best policy.

Things to Look for while Choosing your Bike Insurance Policy Partner:

·    The company should be dependable: A solid market reputation and a good claim settlement service make a company reliable.

·    The company should be trouble free: A high settlement ratio and a low complaint ratio means the company will make a good partner.

·    The company has the best bike insurance policies: Comparing products for their pros and cons always leads the way.

·    The company offers great discounts. Many bike insurance policy companies offer discounts and bonus. Utilise them.

We hope that these pointers will help you pick the best insurance policy which will cover you bike and make your ride safe.

Understanding the Importance of Medical Insurance

A lot has been said about the benefits of medical health insurance and why it is better to purchase a policy early in life. But all said and done, why is it really important? Why should you purchase the best health insurance plan for you and why should you take into account the advantages it offers? Here are a few reasons that should help you answer these questions:

The Rising Medical Expenses

Medical expenses are increasing at an alarming rate. In certain cases, the bills are so huge that it becomes impossible for the common man to meet these expenses. In such situations, having a good insurance policy proves to be a lifesaver. All you have to do is pay a small premium in exchange of which you obtain medical coverage. In short, the insurance company pays for your medical expenses.

You are Prepared for the Unknown

You never know what can happen in the future. Unforeseen circumstances and events are terrifying, but it is your duty to safeguard your family, loved ones, and yourself against them. When you buy a policy, you are at peace, at least to a certain extent. So, should anything major life threatening take place, you know you are equipped to deal with the consequences.

You can Get the Quality Healthcare you Deserve

Even if you need a more specialized hospital for better and quality healthcare and treatment, you may choose to let go of this suggestion and settle for unsatisfactory treatment. This is largely because you may not have the funds to avail the healthcare facilities in a good and reputed hospital. Your health insurance policy helps settle these concerns for you. In this way, you can have the best treatment there is, without having to worry about spending all your savings.

You can even go in for cashless medical insurance. This means that the insurance company settles all of the expenses with the hospital directly. So, now you can see why you need health insurance and how it is much more than just a luxury. When choosing one for your family, it is best to examine all of your options well before choosing the one that best suits your needs.

2 Prime Reasons to Invest In a Car Insurance Policy

In the 21^st century, cars are no longer a luxury item that can be afforded by only a selected few belonging to the upper strata of the society. In fact, they have almost become a necessity in this highly urbanized and modernized society. Your car is one of the items that you use on a daily basis, whether for going on road trips with friends or for every day commutation to your workplace.

However, your joys of owning a car could be short lived in case it meets with an unfortunate accident, gets stolen, or gets damaged owing to a natural calamity. Apart from causing a great deal of stress, these disastrous events can incur a significant sum of expenses for you. In order to protect yourself from such financial risks, it is imperative that you invest in a comprehensive 4 wheeler insurance policy. This policy would essentially help you to mitigate the costs incurred due to an accident that damages your vehicle and also provide you with the monetary protection against car theft.

Need for a car insurance policy

There are a number of reasons as to why you should invest in a 4 wheeler insurance policy. Two of the prime reasons are as follows:

Ø Under the provisions of the Motor Vehicles Act of India, all vehicles operating inside the public areas of the country need to have a car insurance policy as an obligatory document. This policy should provide coverage at least for the third-party liabilities, which may include any injury or property damage suffered by them.

Ø A major accident involving your car can result in severe injuries and even death; it may also lead to massive losses in terms of repairs and replacements for your vehicle. The expenses incurred due to these losses might range from several thousand to lakh of rupees. These expenses can put a huge burden on the finances of a person. However, after investing in a 4 wheeler insurance policy, you would not have to worry about these expenses, as all the relevant compensation would be provided by the insurance service provider.

While investing in a car insurance policy, you should ensure that your insurance service provider is associated with garages and hospitals all over the country, so that you can get the benefit of availing swift services in the times of need.

Things to Know about Two Wheeler Insurance Policies

When you purchase a two wheeler, it is essential that you procure a suitable two wheeler insurance policy package. Two wheeler Insurance policies provide coverage for the expenses you may incur in case your bike or scooter is damaged, stolen, or lost. Similarly, if while driving your two wheeler you lose control of the vehicle and meet with an accident, which leads to a public property getting damaged, then the insurance company will provide coverage for the expenses incurred as  ‘third  party coverage’. However, there will be certain terms and conditions that need to be fulfilled before you can claim the benefits. Hence, before you purchase a two wheeler insurance policy, there are certain factors that you must know, to ensure that the policy you purchase meets your requirements.

Evaluating Two Wheeler Insurance Policy Packages

While purchasing an insurance policy for your bike, the first thing that you must take into consideration is the premium payable. Sometimes it is financially beneficial to purchase a multiyear two wheeler insurance policy. Such policy packages require the insurer to pay the premium once for an extended coverage of two or three years, as per the tenure mentioned in the policy package. Listed below are some other factors that you must take into consideration while purchasing a two wheeler insurance policy:

· While purchasing the policy, ensure that the insurance company is a reputed one and is known for quick claim settlements. Ideally, claims should be settled within seven working days.

· When you put in a claim, the insurance company usually sends over technicians to inspect the vehicle. The inspection and claim service itself should be hassle free and cashless.

· If you purchase a long term two wheeler insurance policy then check the Non Claim Benefits (NCB) carefully, for increased savings. Such a policy can also provide you with an annual protection against third party premiums.

Thus, while purchasing a two wheeler insurance policy, read the policy documents carefully and ensure that the terms and conditions mentioned are as per your requirements. Also, purchase the policy only from a reputed insurance company, for better assistance and quick settlement of claims.

Why You Need a Two-Wheeler Insurance Policy

It does not matter who you are or what you do, having a good insurance policy is a must if you want a financially secure and anxiety-free life for yourself and your family. This is because regardless of your present situation, you can neither see nor control the future. Various calamities such as accidents and illnesses can change anyone’s life overnight. And without a plan to deal with such emergencies, you will be left floundering and helpless when things don’t go according to plan. There are, of course, various types of insurance policies that you can buy to protect yourself and your family members against different kinds of emergencies.

They are:

• Life insurance policy
• Health insurance policy
• Commercial insurance policy
• Motor insurance Policy
• Home insurance policy

Liabilities covered under a two-wheeler insurance policy

Of these, motor insurance policy is one of the most important types of insurance plans. This is because this is the only type of insurance that can affect other people, even those who are in no way connected to the insured person or vehicle.

If you get sick or your business sustains a loss or your house burns down, the only people affected will be you and your loved ones. However, a car or bike accident can not only harm the owner of the vehicle but also an innocent third party who is in no way related to the owner. This is why if you own a bike, it is highly important to buy a long term two wheeler insurance plan from a reputed insurance company.

Some of the liabilities covered under such a policy are:

• If you meet with an accident, the policy will cover all the expenses relating to your treatment, hospitalization, any required surgeries, physiotherapy, etc.
• It will cover the costs of repairing the damaged vehicle itself and restoring it to its original condition. 
• It will cover any third party liabilities that the vehicle-owner might owe, in case the accident led to the injury of another person or damaged their property.
• A good bike insurance policy will compensate you for your loss if the vehicle gets stolen or damaged in a strike, riot, terrorist attack, or natural disaster.

When buying an insurance policy for your bike, however, you must be sure to only purchase a plan from a reputed and trusted insurance provider. You can also do some research on the internet to find a plan that provides the best coverage for a reasonable premium.