GENERAL INSURANCE BLOG

While driving on the Indian roads, the possibility of an accident can never be ruled out. Whether due to a momentary lapse on your part or due to oversight on the part of someone else, accidents can take place anytime and anywhere. But the damages/losses incurred due to it can be mitigated with the help of personal accident insurance in India.

What is Personal Accident Insurance

Personal accident insurance is offered in combination with Third-party policy. Insurance companies charge a nominal fee for offering this coverage. Under this policy, you will be reimbursed by the insurance company for injuries suffered while driving your vehicle.

Is it mandatory to get personal accident insurance in India?

As per the latest insurance regulations introduced by the government, it is mandatory to get personal accident insurance in India for a vehicle owner. The current regulations by IRDAI state that the car owners, as well as bike owners, will now get a mandatory personal accident cover of Rs. 15 Lacs as per their motor insurance policies. Previously, this cover was capped at Rs. 2 Lacs for car owners and Rs. 1 Lac for two-wheeler owners against a premium of Rs. 100 and Rs. 50 respectively.

Now the premium has been increased to Rs. 750 for a cover of Rs 15 Lacs. This premium is payable over and above the mandatory third party insurance cover. If the insured person wants a higher cover, then the same can be availed by paying a higher premium, which is to be decided by the insurance company. The coverage of the policy extends to the owners of the vehicle as well as the drivers of the vehicle, provided the availability of a valid driving license.

This improvement in the personal accident insurance in India was introduced after a judgement by the Madras High Court in the year 2017. While passing the judgement, the court noted that enhancing the personal accident cover will act as some kind of solace to the victim as well as survivors of the accident.

Though there are some exceptions applicable wherein the owner can opt-out of this mandatory personal accident cover i.e.

• If the vehicle owner already has a valid personal accident cover policy with a sum insured of more than Rs. 15 Lacs.
• If the owner already has a motor insurance policy with a compulsory personal accident cover with a sum insured of more than Rs. 15 Lacs for another vehicle owned by him/her.
• If the vehicle owner already has a separate compulsory personal accident policy.

Benefits of Personal Accident Insurance

Some of the standout benefits of subscribing to personal accident insurance in India have been listed here: -

• The policy covers in the case of the unfortunate death of the insured. The nominee is entitled to the entire sum.
• The cover is even provided for total permanent disability, permanent total disability, permanent partial disability and temporary total disablement.
• Some policies even cover hospitalization due to an accident and the cost of transportation for mortal remains in case of death.
• The dismemberment of any kind is also covered in some policies. Certain companies have also given said ratio and benefits for certain kinds of injuries that will then be paid to the policyholders
• Very few companies also provide optional coverage in case of burns. This can also be considered before personal accident insurance is taken into action.
• The treatment for the burns is also covered by some insurance companies.

With such extensive benefits on offer, availing personal accident insurance in India is a necessity for the vehicle owners.

Climate change is the shift in the temperature and weather patterns over a long period. It affects the entire planet by causing abnormally cold conditions in some parts of the earth, while some areas witness extreme heatwave conditions. Some regions are experiencing long dry spells, while others are experiencing devastating floods.

Human activities are primarily responsible for the rapid climate change across the planet. Excessive burning of fossil fuels like oil and gas and irresponsible exploitation of natural resources result in climate change. If you wish to buy home insurance online India to deal with damages due to untimely incidents, here’s how this may directly impact you.

1. Increase in premium:
Some regions of the planet are witnessing a higher impact of climate change and increased natural disasters such as floods, wildfires, deep freeze, rise in sea level, etc., than others. Home insurance premiums have shot up at an alarming rate in such regions. It is becoming very costly for homeowners to buy home insurance online India policy in such areas.
This is logical as the risk of insuring houses in these places and the number of claims is rising. Hence, it is becoming financially unsustainable for insurers to provide insurance services at the prevailing rates. Home insurance premiums have increased by around 10%-12% on an annual basis. This rate varies and is even higher for houses in heavy disaster-prone areas.

2. Rise in the number of inhabitants:
Disaster-prone areas offer inexpensive land, which increases their demand. This results in the increasing population and limited availability of land in disaster-prone areas. However, houses in areas prone to flooding or nearby forests always have a higher risk.
Houses near a forest always pose a higher chance of starting a wildfire by accident. More house inhabitants mean more damage during severe flooding or other natural disasters. These factors influence home insurance policies, their terms and conditions, and premium in areas vulnerable to natural disasters.

3. Difficulty in getting home insurance:
Residents in regions that are witnessing disasters due to climate change are finding it difficult to get their homes insured easily. The probability of damage to their houses is very high because of the topography of their area. For example, rising sea levels due to climate change threaten the existence of dwellings close to the sea shores. Several cities in the world face the risk of extinction by submerging in seawater due to rising sea levels.
Insurers are not interested in insuring houses in such high-risk areas. This makes it difficult for people to get their homes insured, even after shelling out high premiums, which are often unaffordable for the middle & low-income strata. This increases the risk of complete financial ruin in the event of a natural disaster.

Abrupt climate change is catastrophic. It can cause extreme heat or cold conditions, floods and droughts, hurricanes, and tornadoes. Moreover, it can also result in biodiversity loss. Although climate change is inevitable, we can control the pace with which it changes. With the risk of abrupt climate change looming on our heads, the wisest decision in these times is to buy home insurance online India. Opt for comprehensive coverage against damages to the home structure and contents, loss due to short circuits, fire, floods, etc.

Click HERE to buy home insurance online 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.

An engine is the core of our car, and you would want it to be in perfect shape every time you turn on its ignition. An engine tune-up consists of checking, diagnosing, and fixing minor problems that come up in the engine with regular usage of the car. This process includes checking the spark plugs, wires, distributor caps, air filters, oil filters, fuel filters and wiring, etc.

Regular engine tune-up helps extend your car's life and increase its efficiency. Let's understand how you can get your car's engine tune-up done.

When do you need a tune-up?

The odometer is the first and foremost thing that can tell us that your car's engine needs a tune-up. If your car has completed the minimum number of kilometres specified by the vehicle manufacturer, after which an engine tune-up becomes due.

Other signs that can indicate that an engine tune-up is required are lack of power and pick-up, decreased fuel mileage, erratic running, problem in starting, malfunctioning lights flashing on the dashboard, etc.

How can you get your car's engine tune-up done?

You should always go to an authorised service centre recommended by your car manufacturer for an engine tune-up. Any outside service provider or mechanic should never do your car's engine tune-up, as it may null and void the engine warranty.

The basic steps for an engine tune-up are as follows:

1. Replacing plugs and wires:
The first step in an engine tune-up is thoroughly checking the ignition system and its functioning. The spark plugs, coils, plugs, wires, and any other electrical part that helps in the car ignition are to be inspected.
For example, ignition wires can break down or wear out with usage. It can result in misfiring, performance loss, rough idling, and, eventually, making your car cylinder dead. Similarly, we need to check whether the ignition coils are in good shape and working properly. It can also lead to engine misfiring, poor acceleration, low fuel mileage, etc.

2. Filter change:
There are various types of car filters, such as oil filters, fuel filters, air filters, and cabin filters. Timely cleaning of filters is essential for improving engine performance and efficiency. If the filters are dirty, the engine will toil hard to get the required air, fuel, or oil, thus making it choked and perform poorly.

3. Belts and hoses:
All hoses need to be checked as they transfer vital fluids across the engine. Any disruption in the hoses will result in engine malfunction. Similarly, we need to check various belts that help the engine to run efficiently as they wear down, turn brittle, crack and eventually break with time and usage.

4. Right liquids:
For a car engine to perform perfectly, it needs a variety of fluids in perfect proportion, such as engine oil, coolant, brake fluids, power steering fluid, transmission fluid, etc. There is a regular change interval for each of the fluids. The change also depends on your car usage.

If you use your car regularly and run around a lot, you will need to change these fluids frequently and vice-versa. If you do not change these fluids timely, they can lead to engine malfunction and even breakdown.

Regular and timely engine tune-up is very important for keeping your car fit. It ensures that your car runs efficiently and its heart- the engine is in perfect shape. It also helps to increase the life of your car.

To address the car's safety, you must purchase a private car insurance India policy. It protects your car from any damage or loss that it may suffer from fire, theft, accidents, natural disasters such as earthquakes and floods, etc. It also provides coverage from third-party liabilities. Hence, you must choose the right insurance service provider to provide adequate coverage and protection in times of need.

Click HERE to buy private 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.

Cars are almost our second home as we spend 2-3 hours daily commuting in them. Most of us love to go for different types of fancy car accessories available in the market. Accessories make our car ride comfortable and convenient. Also, they add style to the car and make it look sportier and cooler.

But, do you know that a few accessories are mandatory by law, without which you cannot drive on Indian roads and can be fined. Let us explain them to you:

1. High-security number plate:
High-security registration plate or HSRP is mandatory to be used on your car along with the colour-coded sticker that comes with it. We cannot install fancy number plates with fashionable fonts just to make our car look stylish and unique. HSRP has been made mandatory in India from 1st April 2019.
This number plate is made of aluminium and cannot be removed from a vehicle once installed. It also has a unique 10-digit permanent identification number (PIN), so it cannot be cloned or copied. If you do not have an HSRP on your car, you can be fined anywhere between INR 5000 to INR 10000, depending on your state. Also, repeat offenders can be charged a compounding fine of INR 5500.

2. Lights:
You will be surprised to know that there are rules regarding the various types of lights you use in your car. These lights include car headlights, sidelights, tail lights, and registration plate lights. According to the Motor Vehicles Act, functional headlights, sidelights, taillights, and registration plate lights are mandatory.
Non-functioning lights can make you go blind at night, or vehicles approaching from the other side may not see you. In either of the cases, you may meet with an accident. You can be fined if any of these lights are not working properly, as this can be hazardous for you and other vehicles on the road. .

3. Rear and side-view mirrors:
Rear-view mirrors are a mandatory accessory for your car as per sections 5 and 7 of the Central Motor Vehicles Act. You can be fined for not driving with a rear-view mirror. Similarly, police can penalise you if you drive around without side-view mirrors or if they are folded!

4. Horn:
Cars must have an electric horn that can warn other vehicles around them that they are approaching. Driving your car with a faulty horn can attract a fine of INR 500 for the first time and INR 1500 for every subsequent offense. However, the fine amount can vary from one state to another.

5. Wipers:
Wipers are essential because they are the key tools for visibility during heavy rains. Driving without wipers is illegal, and you can be fined for that. If you get stuck in heavy rain without a wiper, you will not be able to see anything in front of you clearly, and there will be a high chance of an accident.

You can have a long list of fancy accessories to make your car stand out from the crowd, however, you should not neglect the above list of mandatory accessories required by law. Travelling without them can attract fines and penalties.

Renewal of motor insurance timely is also mandatory by law. Driving your car for a day after your motor insurance expires is also illegal. Do not delay the renewal, as you can conveniently get online motor insurance renewal without visiting the insurance office. Be safe, be protected.

Click HERE to get the online motor insurance renewal.

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.