GENERAL INSURANCE BLOG

Buying a two-wheeler insurance requires investment of time as the long and complex policy document in small font might look tiresome and time-consuming to read. Most people overlook those crucial details and rely on their life insurance agent while purchasing a policy. You need to be aware of the hidden charges that ridiculously drive up your insurance bill, as your agent might not explain everything you should be knowing.

A few adjustments here and there in your two-wheeler insurance policy might not seem like a big deal to you, but trust us, those will help you save a considerable sum that stays with you over time.

So, here are a few two-wheeler insurances hidden costs you should always pay attention to.

1. Paperwork fees:If you are not opting for 2 wheeler insurance online and instead buying your insurance physically through cheque, you are certainly paying a higher premium. Your insurance company charges you a couple of hundred rupees for the paperwork. Also, the company will not bear the postage cost and handling of all that paperwork; they will undoubtedly pass those expenses on to you. In an online policy, your insurance providers will reward you by waving off extra charges for choosing to go paperless, setting up automatic payments, and paying your premiums online.

2. Avoid monthly payment: When it comes to your 2 wheeler insurance, the payment interval is equally important as the mode of payment. If you pay a monthly insurance premium, the company charges you for specific "processing fees" and "administrative costs" each time you pay. The "instalment fees" will cover all these expenses. Like most businesses, insurance companies also would like to collect their money first. So they encourage you to consider paying upfront, and for that, they offer you some rewards. Therefore, if you decide to pay quarterly (four times each year) or semi-annually (two times a year), you will notice that you have saved considerably on your premium. Of course, if you pay annually or pay-in-full, the offers are even better.

3. Cancellation fees: If you decide to withdraw your policy within 14 days of the cooling-off period, you will have to pay a small fee to the insurance company for the paperwork. What if you cancel your policy post completion of 14 days? Unfortunately, it'll cost you an even bigger fee for the days your insurance company has insured your 2 wheeler. These fees range from zero to thousands of rupees or even more. It takes administrative efforts to cancel your policy, so these efforts justify the cancellation fee.

Other fees include replacing paper documents or fines for providing inaccurate information to insurance companies when getting a quote. Yes, that's the fact that most of us are not aware of. Therefore, make sure that you provide the correct information while applying for a policy.

Did you also get promotional emails and phone calls for the cheapest 2 wheeler insurance online? Don't get fooled by these fabricated illusions of these promotional offers; instead, be a smart buyer to make intelligent purchases. You can often save a significant amount by moving online and paying annually.

Click HERE to get a quote for your 2 wheeler insurance now…

Have you got stuck in heavy traffic again? Guess who'll make the riding experience smooth and convenient by sliding through traffic? Your two-wheeler, of course!

For all the experiences you plan to rejoice in with your two-wheeler, there is a bit of practical advice – as a responsible owner, you should carry a valid insurance policy. But many people doubt that choosing an insurance policy is a daunting task and is expensive. So in this article, we'll tell you more about the myths and facts you should know about your 2 wheeler insurance policy.

Myths get a huge living space in India as false information and rumours always travel faster than light. So let's first have a look at some common myths about 2 wheeler insurance.

1. Choosing an insurance policy is a difficult task: Choosing an appropriate policy is confusing, full of hassles and a tedious task.

2. Insurance is expensive: Insurance is only going to cost money and would not be worth it. This is instead a very common thought every customer has when buying Insurance.

3. Third-party cover is sufficient for two-wheelers: Third-party cover will provide complete coverage for bikes. In case your bike is old, it does not need an insurance policy.

4. Insurance premium depends merely on credit score: The credit score of the owner is the only factor that determines the premium for your chosen policy.

5. An insurance policy covers all damages caused: The insurance policy is enough to cover all costs of damages despite the cause behind it. Your policy will pay you regardless of any terms and conditions.

Usually, facts get lost somewhere in the chaos of myths, but no worries, we'll present them before you.

1. Selecting an insurance policy is no fuss at all: With the assistance of professional insurance companies and their customer services, choosing and buying the right insurance is as easy as buying anything else. You can purchase the insurance right from your couch without even visiting the company.

2. Insurance is not expensive if chosen correctly: Nowadays, customers can choose from many options and plans offered by various insurance companies and even compare them to select the right one. Not only that, you are free to go through every little detail of the policy to avoid unnecessary charges.

3. A proper two-wheeler insurance policy is necessary for your bike: Just having a third-party cover is not enough to secure your bike. It will only provide cover for the losses against third-party and never for your bike. Hence, going for a comprehensive cover is a wise choice.

4. Online is safe: There is absolutely nothing to fear when opting for 2 wheeler insurance online. You can find the most attractive deals and discounts online and even compare policies with smart comparison tools. Moreover, sharing your personal information such as your name, age, address with reputed insurance firms is safe and trustworthy.

5. Every policy has specific terms and conditions: For all the insurance policies, there are limitations on claiming coverage. For example, the insurer will not cover any cost if the mishap includes the drink and drive case.

Having good information about both myths and facts should help you get a clearer idea about a two-wheeler insurance policy. So be a responsible citizen, don't fall prey to any myths and choose a policy for your two-wheeler now by clicking HERE.

Building a property from scratch can be a time-taking and intimidating process. Whether commercial or private property, the construction cost can burn a hole in your pocket. This is precisely why property insurance becomes necessary to protect you, your family, and your assets from any unforeseen tragedies that might occur.

Property insurance provides cover for various misfortunes, including but not limited to fire, natural calamities, or robbery. However, choosing an insurance specific to your asset type is vital for the best coverage and benefits. This blog gives insight into the various types of property insurance available in the market based on your asset type.

1. Office insurance:
Office insurance is essential for all office premises, including public and private offices, call centres, etc. This insurance plan covers office owners against damages from unforeseen circumstances like fires, storms, lightning, hurricanes, cyclones, etc. This policy also covers other possible threats, such as the theft of office appliances.

2. Construction sites insurance:
Construction sites are places with a high probability of accidents. The misfortune of contractors is that the property remains their liability till the entire construction is completed and the property is handed over to someone. Whether it is due to bad weather or some water damage, it is a possibility that the building might collapse onto itself. It is essential to get construction site insurance to keep your assets secure against these occurrences.

3. Commercial insurance:
This insurance covers the policyholder from the losses incurred from destroying commercial properties such as warehouses, offices, factories, hotels, etc. Taking a suitable commercial insurance policy can be the best investment for business owners to safeguard themselves from the enormous losses faced by man-made or natural calamities.

4. Landlord insurance:
Landlord insurance is much like the homeowner’s insurance with one significant addition. The addition is the compensation of lost rental income, which is not covered by any other policy.

5. Renter’s insurance:
Tenants are usually in a dilemma regarding the safety of their belongings in rented accommodation. If their prized possessions are stolen, or there is some natural calamity that results in the tenant incurring losses, there is no way that the homeowner will pay for it.
So, the best option for tenants is to get insurance that covers all their belongings. Renter’s insurance is very similar to the homeowner insurance policy. One significant difference is, however, that this policy is exclusively meant to recover financial losses sustained by the policyholder if their belongings (can include clothes, jewellery, and appliances around the house) are damaged because of man-made or natural calamities.

6. Homeowners insurance:
Homeowners insurance or HOME INSURANCE is the most widely acquired type of property insurance. This is for a good reason. A home is a significant investment, and it is imperative to be secure against the various misfortunes that might befall it.

An appropriate home insurance covers all the financial losses the homeowner might incur in the event of any significant damage due to an accident or mishaps like burglary. Additionally, it also covers any possessions that have been destroyed in the mishap.

Our home is the greatest property asset, and safeguarding it from potential damages should be our primary objective. Having the most suitable home insurance is a surefire way of protecting from financial mishaps and adding the safety net of damage coverage.

Property insurance gives the property owner security and credibility, which is important for peace of mind and financial safety. Thoroughly researching the best insurance policy is essential to have the optimum coverage for your assets.

Click HERE to know more about home 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.

Exploring the novelties and embarking on new adventures is what travelling is all about. From dingy roadside motels to premium five-star hotels, travel experiences make you more confident and better prepared for everything. To some people, it is a much-needed respite from the mundane routine of everyday life; for others, it is a way of life. Some people believe in setting aside a part of their earnings for annual family trips, while others earn to travel. Common among all these lifestyle choices is the desire to explore newness and the different versions of the planet.

There are multiple ways in which you can explore a city. You can accompany a tour group, walk around, and indulge in local life. But, in this article, we will discuss why public transport is the best way for you to enjoy your vacation.

1. Closer to the local life:
Cabs and rentals will ensure an easy commute, but if you want to indulge in the lifestyle of the locals, using public transport is a must. The locals frequently use public transport to carry out their day-to-day chores. Interacting with them will not only help you gain a better insight into the culture of the place, but it will also help you figure out where the untouched locations are. Many local restaurants and establishments are unexplored by the tourism industry. Local knowledge about these will help you explore the unexplored.

2. Cheaper:
People often complain about being scammed by taxi services and other car rentals. However, with public transport, you can avoid being scammed altogether. Since locals frequent this mode of transportation, they can't charge you extra. Some governments facilitate subsidised public transport rates, so the overall cost of your daily commute becomes considerably inexpensive.

3. Time to relax:
If you intend to book a car for yourself, be prepared to stress out about directions constantly. You might also be stuck in long traffic jams if you decide on exploring the city. Opt for public transport like trains to escape heavy traffic and the tiresome drive. During your commute, you can either look out of the window and enjoy the views or catch a nap before reaching your next location. This small break will help you be rejuvenated for the next part of your trip.

4. Personal health:
Public transport is a boon for you if you are a fitness enthusiast and cannot squeeze in the time for your workout in your jam-packed itinerary. Opting for public transport indicates that you will need to walk between stops, stations, or ports, depending upon the location and the type of transport. Not only does it prompt you to walk more, but it also helps you build an appetite so that you can eat more of the local cuisines guilt-free.

5. Responsible towards environment:
Public transport saves a considerable amount of fuel as compared to personal vehicles. The stark increase in carbon dioxide emissions has resulted in a rapid rise in global temperatures. Opting for public transport is a small contribution you can make to the environment and a better future.

These are a few reasons why public transport is the best option for you while travelling. Interact with the locals and explore the city's novelties while taking public transport. Remember that no trip is complete without travel insurance. Any risks you can incur during your vacation, including theft, financial losses, injuries, etc., will be taken care of by an insurance policy. To protect yourself and your family against such expenses, do not forget to buy insurance policy online. You can compare multiple policies, analyse their benefits and premiums, and choose from several online options.

Click HERE to buy insurance policy 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.