GENERAL INSURANCE BLOG

While checking any insurance plan, you most likely come across terms like deductibles, premiums, adjuster, etc. If you're unfamiliar with them, you may be confused and make wrong financial decisions.

It is now a given that everyone needs to have basic knowledge of terms relevant to general insurance. If not, you will find it daunting to buy insurance or apply for one. In such a case, it is extremely easy to get tricked. You will likely fall into the trap of fraudsters who can get more money from your lack of awareness and appropriate knowledge. Not knowing things can make the job easier for them.

If you need help understanding a few commonly used insurance jargon, this article is for you. This article will walk you through the various essential terms related to insurance. Prepare to dive into the world of simplified general insurance jargon that aids in making better financial decisions and equips you to help your peers and share your knowledge!

1. Claim:
This is one of the most important terms related to insurance used in all policies, including non-general and general insurance. A claim refers to the compensation or coverage of an incurred loss. It is a request to the insurance company to compensate you in cash or in kind for the loss you have encountered. It can be filed in case of a road accident, robbery, or even a natural disaster.

2. Adjuster:
An insurance company employs an adjuster to settle various claims. They investigate, examine, and evaluate before finalising any claim. The adjuster investigates all the crucial concerns. Be it the cause of loss, insurance coverage, the value of the loss, the amount of loss, and so on. Only after the adjuster adequately investigates everything the insurance company settles the claim.

3. Peril:
As the name suggests, this refers to a potential threat or danger that puts the insured at risk. It can also put an insured item or property at risk. It can be due to any irreversible causes and out of control. For instance, theft, fire, floods, and so on.

4. Deductibles:
This refers to the money to be paid by the insured for insurance coverage before the insurance company starts paying for the insurance policy. This amount is generally deducted from the claim before it is handed over to the insured.

5. Premium:
This refers to the amount paid to the insurance company to secure you against any damages or losses. It is a variable amount that depends on many factors while buying insurance.

6. Liability coverage:
As the name suggests, it protects the insured against any claim raised towards the damages and injuries caused to third parties or property.

7. Nominee:
This refers to a person entitled to receive the insurance claim if the insured dies. The insurance company redirects the claim to the rightful nominee declared by the insured as per the terms and conditions of the policy. They are generally the dependent, your spouse, child, parents, etc.

8. Waiting period:
This is the time that a policyholder has to wait before applying for a claim. Depending on various factors, the policy's terms & conditions, it can range from a few months to a few years.

With general insurance becoming necessary to protect your highly-valued assets and your finances, everyone must understand basic insurance jargon before evaluating and comparing policies. Only when you are aware of the basic terms can you buy the best insurance for yourself! Keep yourself aligned with the advancements of the insurance sector and buy general insurance online to get better offers and attractive premiums that account for efficient coverage.

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.

Tyres are crucial to forming a bond between the ground and the vehicle. They bear the brunt of weather conditions such as rain, heat, snow, etc. However, taking care of your vehicle's tyres is crucial for your safety and high performance. While purchasing motor insurance India provides a safety net in case of accidents, one must always prudently pay attention to the proper maintenance of essential components.

All you have to do is thoroughly check the physical conditions of the tyres to identify the issues. This comprehensive guide will help you examine your tyre treads and offer care tips.

What are tyre treads?
Tyre treads are a collection of grooves that run around the exterior. They help maintain a good grip on the road and to maximise traction on wet roads by dispersing water out of the way. Tyre grooves are essential for vehicle performance and safety.

Why do tyre treads wear out?
A tyre is made of rubber compounds that wear down with time. These include temperature, climate, the vehicle's mechanical condition, the road surface's roughness, tyre pressure, maintenance, etc. When the tyre wears down, it reduces the tread depth, resulting in a lack of grip. Thus, worn-out impressions are unsafe for driving, and you must replace them to reduce the risk of accidents.

Why are worn-out tyre treads dangerous?
Vehicle tyres wear out over time and with regular usage, resulting in losing tyre traction. However, nothing is riskier than driving with worn-out tyres. Here are some reasons to help you understand the risk associated with worn tyres.

1. High probability of puncture
When a tyre is half worn out, it can easily be eroded and cause a puncture anytime. This is a high-risk factor, especially when running your car over sharp-edged debris. An unexpected flat tyre in the middle of a journey can cause a single-vehicle collision. As a precaution and to avoid financial worries related to accidents, always purchase motor insurance India.

2. Tyres can overheat
Worn-out tyres have minimal tread left, causing relatively more heat build-up than a tyre with a good tread depth.

3. Increased risk of tyre burst
The risk of sudden blow-out increases while driving without adequate tread depth. Insufficient treads accumulate heat due to constant friction, causing them to burst.

4. Risk of hydroplaning
Tyre treads are well-developed to prevent hydroplaning. However, half-worn grooves make water shifting from under the tyre difficult. This can result in the vehicle sliding through water and losing its traction.

Ways to check the tyre treads
Checking your vehicle's tyres can eliminate road accidents. Here are some steps to inspect your tyres:

1. Examine tread depth
Every vehicle tyre has a certain amount of tread depth after regular usage. Over time, imprints wear down to a minimum acceptable level. When you lose that depth of the tread, its stability and grip get compromised. You must ensure the tread depth is above 1.6 mm for safe driving.

2. Examine sidewall
The sidewall of the tyre is adjacent to the treads. Bend down to check the cracks and cuts at the sidewalls. Check for any bulges. They can be a sign of internal damage, and if you find any, replace your tyre immediately.

3. Examine for uneven wear
Uneven tyres can occur for various reasons, including careless driving, imbalanced wheels, problematic suspensions, etc. You can prevent uneven wear by routinely checking the tyres. Do not overlook any signs. If you feel something off while driving, visit your car's service centre or a local garage.

Besides daily car use, adverse and harsh weather conditions can degrade the tyre's quality, affecting its safety and performance. You must repair or replace your tyre immediately if you spot any issues. Remember to buy the best motor insurance India policy to shield you from damages caused to the car if it encounters any accident.

Click HERE to buy the best motor insurance India 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.

Health is one of the best gifts that one can have. You need to safeguard and protect your health at all times. You might always wish to avoid diseases and adapt to a healthy lifestyle. But unfortunately, you might be diagnosed with illnesses beyond your control. One such disease refers to a rare condition.

The World Health Organization (WHO) states few people suffer from this condition. It affects one person per 1000 individuals in the world. These rare diseases are usually genetic. They are mostly innate and present right from childhood.

Rare diseases can be fatal. They can get worse if the treatment is not provided on time. Usually, treating such rare diseases is expensive and possible only at limited hospitals. Having health insurance will aid you in covering all the costs. But does it cover your rare condition? To find out, read on!

Also, remember you should always renew health insurance online on time before it expires. If you do not, you can lose access to the basic facilities of your health insurance.

What are some common rare conditions? You may find it difficult to understand if your disease comes under a rare disease or not. To help you, we have listed some of the most common rare conditions. They are as follows:

● Sickle Cell Anemia

● Gaucher Disease

● Hurler Syndrome

● Cystic Fibrosis

● Maple Syrup Urine Disease

● Haemangioma

● Tyrosinemia

● Haemophilia

● Osteopetrosis

● Wolman Disease

Are rare conditions covered under health insurance in India?
Yes, many insurance companies in India do cover rare conditions. Regardless of the disease's cause, symptoms, and status, these rare conditions are covered by health insurance companies. The treatment expenses are thoroughly covered under the insurance policies. The right policy will provide you compensation for all the medical expenses. Be it surgery costs, medicines, diagnostic tests, hospitalisation fees, therapy, and post-surgery care, among others. It also covers daycare treatments if they are valid.

However, all this can be done only if you apply and opt for the best insurance policy for yourself. They should cover all the costs. It generally depends upon your budget. Mostly these insurance covers come with a high premium to make up for the costs.

The coverage of rare health conditions can vary from one insurance company to another. You must thoroughly check the list of rare conditions before signing up for any of this insurance. Visit the websites of different companies and check for online reviews before buying. You should also check the premium before investing.

What is the waiting period for health insurance coverage for rare conditions?
Generally, you need to wait for at least 30 days for any health insurance plan to provide adequate coverage. But the scenario is completely different in terms of rare conditions. You may need to wait at least 2 years to get the benefits of the health insurance you have opted for. It is because the coverage is mostly larger than other insurance. This also means the insurance will be renewed twice before you get any compensation. You should renew health insurance online and prepare in advance to get the compensation.

You must develop a habit of getting regular full-body check-ups to detect any abnormalities in advance. Do not ignore persistent symptoms. Consult your doctor if you feel sick. Dealing with a rare condition is already tough. Without proper health insurance, the battle can be extremely difficult. You should opt for the most suitable insurance to get adequate benefits when required. This way, you can avoid financial stress and focus on your health, treatment, and recovery.

Click HERE to renew health 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.

The tyres and wheels of your car are one of the most used external parts. They sometimes outperform their original capacity resulting in wear and tear due to rough surfaces. If left unnoticed, this can risk the safety of the passengers. So, you must ensure that your tyres are up to the standards as per the regulations set by the manufacturer, the road safety department, and the respective car company.

But what happens if you are facing issues with just one wheel? Do you have to go through the process of replacing all your wheels with new ones? What factors should you be watchful about, and how can you procure used wheels? Don't worry. At the end of this blog, you will know if it is worth buying used wheels or not. So, let's get started.

1. Why do we think it can be worth buying used wheels:
Purchasing used wheels is a good option if your four-wheelers have damaged wheels. This is a significantly cheaper and temporary option than buying a new set of wheels. You can comfortably use those used wheels without burning a hole in your pocket.

2. Understanding the quality of used wheels:
It would be best if you examined the used wheels closely. Be aware of all the cracks, dents, bends, or if any parts and pieces are missing. Surficial damages which are not causing any defects internally can be ignored. There might be issues with the structure of the wheels and rims, which can risk a puncture or blowout on uneven roads and at high speeds.
You can go to a junkyard where they sell used parts. But if you want to avoid the hassle and get quality used wheels and other components, visit an auto parts store that can provide you with top-quality used wheels.

3. Examining the used wheels for damages and defects:
A thorough visual examination is one of the best ways to determine the quality of the used wheels. The second solution is to take a test drive with those wheels. But there are situations where you might not be able to take a test drive, miss out on certain damages, or fail to understand the gravity of what might seem to be surficial damages. You should know other ways to inspect those used wheels in such cases.
If the wheel's outer rim has visible cracks, bends, or dents, it is more likely to get damaged, which might eventually cause a flat tyre. Examine the wheel for corrosion, rust, chipped paint, etc. Used wheels with improper or defective bolt holes should be immediately rejected. Test the wheel by rolling them on an even surface and avoid using them if you see any wobble, misaligned or sideways movement. This usually happens when the wheel is bent but could be difficult to notice during a visual examination.

4. Check the material:
Steel works quite well but affects the car's speed and acceleration since the material is heavy. People often use alloy rims as they are considered a good combination. It upgrades the look of your vehicle to give it a more sporty vibe, gives you a better driving experience, and eventually, helps you save fuel and money. You need to check the tyres' material and immediately reject used wheels with slight damage, corrosion, or rust.

Now you know if it is worth buying used wheels or not. And while we are considering wheels and their alternatives, a sudden accident or ending up in unfortunate circumstances can cause severe damage to your car. Getting those defects fixed can cause a substantial financial burden in times of distress. You need to purchase car insurance which would help you cover the massive costs of fixing and repairing in complex cases. You must explore all your options and buy reliable car insurance India with a reasonable premium and the best benefits.

Click HERE to learn more about the benefits of car 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.