GENERAL INSURANCE BLOG

Congratulations! That’s a very smart decision you’ve made, having decided to get personal accident insurance for yourself. But what now? Not sure where to start or which insurance to get? Don’t worry, that’s why we are here – to help your find the right plan using our truth lens 

Accident insurance is a type of  personal insurance that protects from any unforeseen event listed in the policy. Though we know it is difficult to find the Best Accidental Insurance Policy In India, we have listed a few checks to compare Individual Accident Insurance Quote in India.

We’ve categorised the process of getting the right insurance into 5 simple steps. Here goes:

Prioritise your needs

Right now, the only thing you have considered is buying insurance to protect you in case of an accident. However, it would be helpful to prioritise your needs. If you want to secure your finances and save tax, keep that your priority. If you have a family, securing them becomes your priority. Understanding your priorities helps you figure out what kind of a plan you’d need.

Compare premiums and plans

While you know you need a policy that keeps you prepared for accidents, there are many other things to consider when it comes down to purchasing it. A common worry for most people is hefty premiums. Make sure you compare quotes from a couple of insurance providers before zeroing down on one. 

While most insurance plans offer the basic covers such as accidental death, total permanent disability etc. some providers may also offer additional benefits such as ambulance charge cover or education fund for your child. So, make sure you compare the offerings as well.

There are various covers for family as well as for individual health insurance offered by Magma HDI

Research your insurer

Once you’ve figured out who you want to get the insurance from, it’s time to make sure it’s the right choice. Check out the provider’s claim settlement ration, which will tell you how likely they are to settle your claims if the occasion arises. For instance, Magma HDI’s personal accident insurance is a policy with a claim settlement ratio of 91.85%. You should also check how extensive their network of hospitals is because a wide network means more options for you to get cashless treatment. 

Understand the limitations and exclusions

We have all heard of those cases where a lot of people find their insurance claims requests lost in the fine print. A good way to avoid that is by going through their policy wordings with a fine-tooth comb and to understand exactly what is covered and not covered. 

Figure out how to financially plan for it

Now, you can finally get to the purchasing part of the process. A common notion about insurance is that it is expensive but anyone who has ever had to pay hospital bills knows it’s not nearly as expensive. Having to pay these bills separately ends up costing even more than your premium. Premiums paid towards insurance also helps you save on taxes and hence, it makes for a great financial planning tool.

Now that you know how to get the right personal accident insurance, go ahead and secure your future right now. For comprehensive accident coverage take a look at our personal accident policy CLICK HERE.

Looking for Individual Personal Accident Insurance, you’ve come to the right place!

Driving around in a new car is an exciting feeling. But with owning a car, comes the responsibility of keeping it safe on the roads. In case of an event involving accident, theft, or fire, you may need compensation for damages sustained. Weather is also one of the primary factors due to which your car may suffer damage. Getting car insurance is a great way to provide a cover for your financial losses, especially during the monsoon season.

Why should you get Car Insurance In India?

Remember that a car is made up of a complex system of mechanical components and accessories. With comprehensive car insurance, you can easily get coverage for:

• Damage after a road accident, fire, or vandalism
• Damages that take place due to a natural disaster such as floods
• If the vehicle is stolen
• Unforeseen circumstances such as waterlogging

Accidents happen, but when you’re covered for the financial losses, it helps reduce your stress and brings you peace of mind.

Why do you need car insurance for the monsoons?

During the monsoon season, its even more important to consider securing your vehicle with a proper car insurance policy. Natural disasters like cyclones and flash floods can cause severe damages to property, including your car.

During monsoon water also collects in low lands and potholes making it really difficult to tell their presence. This often leads one to drive into potholes or park their cars in waterlogged areas. While the first one can cause damage to the body of the car, the latter can cause the engine to seize. But with the right insurance and the right add-on, both can be covered.

What would your car insurance policy cover during monsoons?

In the rainy season, no matter how cautious you are, there is always a risk of accidents due to poor visibility and slippery roads. Moreover, water damage like rusting, engine water-logging etc. are also quite common during heavy rains. Waterlogging happens if you drive through or start your car in deep water and the water gets into the engine. This leads to damage to the engine as well as electrical components. Sometimes, car insurers may exclude damage to the engine, but an engine protect add-on can offer you the required coverage. Similarly, roadside assistance add-on can be vital in ensuring you have help even during heavy rains.

While you have no control over the weather and road conditions, you can always be prepared to face them without any worries. Choose a good auto insurance policy such as Magma HDI's Private Car insurance and drive through monsoon worry-free.

Two-wheelers have changed the landscape of transportation forever, ever since the invention of the bicycle world has adapted and moved forward with the revolutions two-wheelers brought in the world. Motorized two-wheelers have brought about the most significant change. They have better mileage than cars and are not as bulky as they are. Also, they are compact, and it is easier to tackle the traffic on a two-wheeler than in a car. They have made the world a smaller place. Now you can reach any destination you desire without tiring yourself. Two-wheelers have also empowered women. Women are generally nimbler than men. Now they can travel long distances and carry luggage on their two-wheeler without breaking a sweat.

Indeed, the invention of bikes has forever changed the transportation industry for the better. Most of the individuals and couples opt for purchasing a two-wheeler while families still rely on cars. Bikes have lower maintenance costs than vehicles, and also their cost per distance travelled is less than that of cars. Their compact size allows them to fit in most homes without the need for a garage. Though, you must never drive a bike without a helmet, nor should you ever drive it without insurance. If your bike is not insured, then now you can conveniently buy bike insurance online. As science progresses, there have been many revolutionary changes in bikes from how they look to their performance. The two-wheeler industry has also seen many economic changes over the years. Here is an overview of how the two-wheeler industry is expected to look in the next ten years: -

• Currently, most of the two-wheeler market is dominated by mid-range two-wheelers. Id the current trend continues, we will witness an increase in high-range and low-range two-wheelers. This may lead to better technology in low-range bikes as well as high-range motorcycles to have more premium features and out of the box designs.
• A.I. technology may make the bike riding experience better for everyone. We may witness automatic gear adjustments, terrain adjustments, fuel consumption adjustments, and much more. If A.I. technology grows at the current pace, the future is not too far when we will see it being installed on bikes.
• We should hope for much better mileage and alternative fuel options. Currently, we have electric motorcycles, but they take a long time to charge and do not provide that much coverage. Electricity consumption is also high in bikes. In another decade we shall see much better bikes on the market that will run on electricity.
• There has been recent news on bikes that utilize water as fuel and provide incredible mileage. There are no mass production variants yet. In another decade, we may have a range of motorcycles that use water as fuel and are environment friendly.

The future of the two-wheeler industry looks excellent. We have some significant advances in store for us within a decade. One thing will never change, though, that is safety guidelines and insurance policies. It is and will always be dangerous to drive recklessly. There is no hope of bikes that will allow you to drive without a helmet, either. Insurance policies will change slightly and will add more features and guidelines as technology progresses. They will more or less remain the same. It is essential to have your bike insured at all times. Right now, you can buy Bike Insurance online; maybe the future will be even more convenient.

A world without general insurance is a world with millions of financially unprotected people. It may even be compared to a person without vaccination! The going is good as long as you don’t contract major diseases.

Why is insurance important?

It's not always possible to prevent falling sick. No matter how careful you are, someone can still break into your house. This uncertainty is what makes insurance important. It's a safety net that ensures that even if something happens, your finances don't suffer. At least not too severely. You can think of insurance as that vaccine that safeguards you against any future issues. After all, it is better to be safe than sorry.

General insurance in India covers an entire gamut of important aspects like health, home, vehicle, travel etc. Thus, to overcome the risks of everyday living, we need its security.

But what happens if there was no insurance?

You never realize the value of something until it isn’t available to you. That’s just good old human nature. So let’s appreciate insurance for what it does for us today.

Scenario 1:

You are driving back home, and it feels like every other day. However, a novice driver, driving a car with an L sign, hits your car and then speeds off. It leaves you with a broken headlight, dents and a damaged bumper.

Without motor insurance, now you need to pay everything out of your pocket. 

Motor Insurance would have covered you by paying for damages to the vehicle and its owner. You could even increase your coverage by opting for add-ons such as personal accident cover and engine protection. Sounds much better than just lamenting at your loss right?

Scenario 2:

Your family has had a history of heart disease and you know you also run the risk of getting it. But there's no way to prepare for it. Later down the line, you need to get an expensive surgery done. While you manage to pay for it with all your savings, now you aren't left with much. You also are required to quit your work to recover.

This would not only affect you but your family's lifestyle as well. Health Insurance, in this case, could not only have taken care of your surgery but pre and post hospitalization expenses as well. It covers our hospitalization, OPD treatments and even alternative treatments like Ayurveda. It is truly a necessity with rising prices of healthcare these days.

Scenario 3:

You are returning from a vacation in the U.S. However when you arrive in India, you find that your luggage has not reached. After contacting the airport officials, you realize that your luggage is lost. Not much you can do about it except hope that the airline reimburses you for your loss.

This is where travel insurance comes to your aid. It ensures that you get a predecided amount in case your luggage is lost by the airline. Not just that, it can also cover you for flight delay, missed flights and more.

It should be clear enough now how our world would be affected if there was no insurance. You may or may not need it, however, the risks of remaining uninsured are far more disastrous. A world without General Insurance would be far more costly in every aspect that you can imagine. To find more about your options for general insurance in India, you can click here.

Health insurance happens to be one of the most serious decisions of your life as far as your health is concerned. Good health insurance policies ensure you the much-needed peace of mind, as it protects you and your family against the various health hazards that may find you unprepared.

Here, we will look at seven things to keep in mind before buying health insurance in India.

1. Getting early protection

Your health is at your prime when you are young. If you are opting for health insurance when you are young, then your premiums will also be cheaper. Besides, you can get other benefits such as a no-claim bonus, which means that you will get a discount on your premium amounts every year.

2. Fill the application form correctly

One of the most essential factors that you should take care of while buying health insurance is filling the application form correctly. Never lie about your health condition in your application form, as it may land you into trouble while filing claims.

3. Choosing lifetime renewability

Opt for health insurance which provides you maximum cover up until your old age, since you will be vulnerable to more ailments as you grow older. A good health insurance sticks with you throughout your life and can be renewed whenever you need it.

4. Opt for paperless policies

With the prevalence of the internet, it is much easier to do things offline than actually having to go through the rigorous process of filling up forms manually. Health insurance policies that have online support and are hassle-free. They also offer seedier reimbursement as you have the option to file claims online.

5. Get a thorough coverage

When opting for health insurance, choose an insurer that provides you with both pre and post hospitalization expenses, and everything that comes in between. This will ensure that you do not have to spend anything from your pocket. Everything should be covered, from doctor’s fees and medicine to bed charges.

6. Network of hospitals

Accidents and ailments can hit you anytime and anywhere. Once you are ill, it’s not the best thing to travel from one place to another to get admitted to a hospital. TO make sure that you get treatment where you are, opt for a policy that has an extensive network of hospitals.

7. Claim settlement rate

Good insurers are known for their excellent administrative process, which makes sure that the claims you file are attended in due time. To reap the benefits of your insurance, opt for a provider that has a high claim settlement rate so that you claims do not go unsettled and you actually reap the benefits.

If you are looking for the Best Health Insurance Policy In India, then Magma HDI health insurance policies could be the answer. It offers cashless hospitalization its vast network of more than 4,100 hospitals and comes with features such as optional cover for critical illnesses and accidents and a 24x7 claim assistance.

The thing about youth is that it is not everlasting. It comes and goes before you might even realize. As you dawn towards your old age, you may be left to wonder if you made the best out of your youthful days or not — such is the tragedy of time.

When you are young, you will also want to experience the thrill and excitement which comes with certain activities, such as riding a motorbike. Riding is one of the popular occupations of youth — one that they rejoice in whole-heartedly.

Here, we will look at some of the best bikes that you can ride in your youth days.

Bajaj Pulsar

The Baja Pulsar is often called the first sports bike of India. It is cost-effective and comes with a unique design and a powerful engine which makes riding it a thrilling experience. It comes in several variants, with engines clocked at 150 cc, 180 cc, 200cc, 220 cc; the Bajaj Dominor even has a 373.3 cc engine which makes it fast and aggressive. If you are looking for a ride which promises good acceleration, fast speed, and decent mileage, then the Bajaj Pulsar could be your go-to option.

Yamaha FZ

Yamaha bikes are known for their engines as they perform exceedingly well on race tracks as well as Indian roads. The Yamaha FZ series is also known for its muscular look. It is finely cut out and crafted to stand out among other bikes. It has excellent acceleration, thick tires for better grip, and handling which will make you fall in love with it. Besides, its attractive digital meter puts all the riding stats into perspective, promising you a thrilling and engaging ride experience.

Royal Enfield

The Royal Enfield series particularly stands out for its stout engine and durability. You can ride it for miles straight, and the engine won’t even squeal. If you are someone who goes for long rides, then it should be an ideal fit for you as its powerful engine and huge tank capacity makes sure that you do not have to stop as often as you do with other bikes. The Royal Enfield engine is designed in a way where it can cruise for long hours without overheating.

TVS Apache

The TVS Apache series is known for its finely crafted design and a seating position which provides an excellent grip on the handle. It is also known for its acceleration and smoothness. It is a good mix of mileage and power, which makes sure that you do not consume much fuel as you cruise your way down the highway. There are several variants of the Apache to choose from, so pick one which suits your speed-need the most.

While bike rides can be thrilling and may excite you to a point where it becomes an addiction, it is essential that you get good bike insurance which protects you and your bike from unforeseen circumstances. Magma HDI bike insurance offers one of the best Two-Wheeler Insurance Rate so that you can save money on your insurance premiums and not burn a hole in your pocket.

Two-wheelers come as saviors at a time when Indian roads are bustling with traffic. It is particularly annoying when you are going out for a ride. If you are alone, then rides are best experienced when you are on a two-wheeler.

The thrill is worth mentioning. You let the wind graze past your face and the sound of the engine, adding to the overall aesthetics of the right. There is so much for the eyes to see, for the senses to behold.

Here, we present to you some of the best two-wheelers that you can buy for Indian roads.

1. Hero Splendor

The Hero Splendor is a classic and still manages to retain the design and durability of the classic Splendors, which means that you can trust this bike to be your companion for a long, long time. Currently, it rules the two-wheeler segment by a record number of sales. In June alone, the model sold 2,23,532 units, which is the reason why it makes to the top of our list.

2. Honda Activa

The Honda Activa is India’s favorite scooty and can be trusted on Indian roads with a decent pickup and mileage. It is known for its sleek design and durable engine. It recorded a sale of 2,10,961 units in June, which makes it the second favorite purchase. It is a decent option if you a frequent rider in city traffic.

3. Hero HF Deluxe

Another low-range Hero bike, this model falls to the third spot with a sale of 1,93,194 units. With an on-road price of a little above Rs 50,000, this bike is indeed one of the favorites when it comes to the two-wheeler segment. It has a 100cc engine, which means that it can ensure decent performance besides providing high mileage.

4. Honda CB Shine

This Honda model has been a favorite for a long time. It has dispatched 84,871 units in the month of June. Honda engines are known for their efficiency and long-run performance. If you are looking for a bike that promises a decent pickup with good mileage, then you should certainly explore this option.

5. Bajaj Pulsar

The Bajaj Pulsar models grab the fifth spot with a sale of 83,008 units. With a variety of models in the range, the Pulsar series has been a favorite for long, as they promise high engine performance, sleek design, and mileage which is decent for the Indian roads. These features make the Bajaj Pulsar a favorite among Indian customers.

Once you have purchased one of these bikes, it is crucial to buy two wheeler insurance for them. Magma HDI two-wheeler insurance offers features such as additional cover with the support for anti-theft devices. If you are looking for affordable, long-term two-wheeler insurance, then Magma HDI Two-Wheeler Insurance Online could come to your aid.

The onset of modern life has lead to various dietary and lifestyle changes. In an effort to keep up with your health and deal effectively with any health issue, it is essential to get hold of a health insurance which provides 360-degree all-round protection.

Having a good health insurance makes sure that you can keep on with your life without having to worry too much about medical expenses that come with various diseases and ailments.

However, with so many options around us, it might get a tad bit confusing to choose the option which fits our health needs the best while being easy on the pocket at the same time.

Choosing a health insurance

Since the onset of the internet has made everything online, it has become much easier to find the Best Health Insurance Policy In India. Good health insurance providers provide a host of benefits and access to several medical care products. They also have a reasonable premium rate so that you do not have to worry too much about shelling out a lot of money from your pocket.

When you choose health insurance online, make sure that you have read the policy documents carefully so that you are aware of where your money is going and what benefits you are getting for that price.

Magma HDI health insurance

One of the names that come up while looking for the best health insurance policy is Magma HDI health insurance. With Magma HDI health insurance, you do not have to go through the physical and mental toll and worry about your financial loss.

Magma HDI offers several health insurance features such as optional cover to reduce your premium, 2x7 claim assistance, optional cover for critical illness and accidents, and cashless hospitalisation across more than 4,100 hospitals. It also has a range of insurance plans to choose from, so you do not have to compromise on your needs.

Magma HDI health insurance also comes with notable key benefits such as maternity cover, cumulative bonus, loss of income cover, and worldwide emergency cover, among others. With such benefits, it makes for an ideal purchase so that you can have 360-degree protection for your health.

The entire process of purchasing a Magma HDI health insurance is quite easy and can be done in a few simple and easy steps. All you have to do is choose the type of cover you want, review the polices to make sure that it is up to your expectations, add any other benefits if needed, and make the payment to activate the policy.

If you are looking for health insurance policy in India, then Magma HDI could surely be an option, as it also offers a secure and hassle-free claim service, which keeps your interest and comfort in mind.