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General

Motor Insurance

What is the difference between third party and comprehensive insurance?

Third party insurance is a mandatory cover that insures you against the liability arising from damages caused to a third party. In addition to third party, if you add protection against own  damages (OD), that becomes comprehensive insurance. It can also be extended by opting for various Add-ons.

What is No Claim Bonus (NCB)?

No Claim Bonus is a discount that can be availed during motor policy renewal. The rate of discount is 20% of the Own Damage premium in the first year and increases @5% every year, up to a maximum of 50%.  You are eligible for a No Claim Bonus if you have not registered a claim during the entire (previous) policy period. No Claim Bonus is not transferrable to a new owner of the vehicle as it is a reward by the insurer for not claiming in previous years. Hence, in case you purchase a new vehicle, you can use the NCB of the previous vehicle. Some insurance companies in India also offer a No Claim Bonus protection rider.

I plan to purchase a new car. Can I transfer my existing policy to the new one?

Yes, the existing policy is transferable in case you buy a new car. But if the new car is more expensive, the insurance premium will be higher. A small administration fee will also be charged for the policy to be transferred to your new car.

What should I do if my policy expires?

You must notify your insurance company in case your policy expires.  A physical inspection of the vehicle will be required before the policy can be reinstated.

Call our Toll Free Number 1800-266-2626 to renew your policy now!

Health Insurance

What are the advantages of Family Floater Insurance over an Individual Health Policy?

An individual policy restricts the coverage of the policy to a single person whereas, a Family floater Insurance policy offers flexibility by allowing any member to utilise the full Sum Insured. In addition, the total cost for individual policies is much higher as compared to a family floater insurance plan covering the same set of members.

What is a Health Card and what are its benefits?

A Health Card is a card provided as a part of the policy documents. It enables the policyholder to avail cashless hospitalisation at any of the network hospitals for the particular insurance company. It also includes the contact details of the Third Party Administrator in case you need assistance.

Do I need to purchase a separate Health Insurance Policy even if my employer is covering me in a Group Health Insurance Plan?

Yes. It is highly recommended that one should avail a separate health insurance policy, as the insurance provided by the employer is a shared policy and will be valid only for the period of employment period. In addition, an individual health insurance can also be customized according to your needs . But a group policy would provide better benefits and coverage.

Travel Insurance

What factors do I need to consider before applying for Travel Insurance?

You must consider the following before applying for travel insurance:

  • Pre-existing medical conditions – Ensure that these are covered by the travel insurance policy you are considering
  • Most of the activities/excursions you plan to undertake should be covered under the policy. Carefully consider the exclusions (if any)
  • Check about the limits/sub-limits and coverage available at the destination you are traveling to

Is there a limitation on the duration of the trip?

Yes. There are limitations on the duration. It depends on the type of policy you opt for. You can avail travel insurance policies with durations varying from 15 to 180 days. Business travellers can consider availing multi-trip/year-long travel insurance plans based on their schedule and frequency of travel.

What is the procedure required if dates of travel changes?

If your travel plans change, you must contact the insurer immediately and provide details of the new travel plans such as receipt of the flight bookings, etc. If your new travel plans do not fall under the previous policy period, you may be charged a small fee for the modification. Your insurer will make necessary alterations such as reimbursement of non-refundable expenses, if any. These charges and changes are subject to policy terms and conditions.