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Do’s and don’ts before buying Two-Wheeler Insurance
published on October 22, 2021 | Bike insurance

As per the Motor Vehicle Act of 1988, having a motor insurance is compulsory for all vehicle owners in India. This move was conceptualized for the benefit of both parties, the one involved and one who may get involved in an unfortunate accident or mishap.

Some of the dos under insurance buying process by highlighting just the essentials:

  • You need to know about types of insurances- You need to be well-aware of the two basic types of coverages. When you buy two wheeler insurance online, there is also a third-party plan with only third-party legal liabilities. It is a basic plan with lower premium rates. Under the comphrensive plan, you can get a complete cover package that includes third-party liabilities as well as personal accident cover.
  • Look for add ons- in a few words, the current insurance market scenario stands as a well-planned and organized machine. Additionally, under two wheeler insurance, online add ons focus on the pain areas of several customers and tend to the need of the hour for each of them separately, including repairs, roadside assistance, the return of invoice value, accessories cover, etc.
  • Understand the IDV: one of the essential factors that need to be considered while reducing the premium amount of your vehicle insurance is Insured Declared Value (IDV). It is the current valuation of your two-wheeler in the market. Depreciation of the two-wheelers is factored into the IDV, and the IDV is then calculated.
  • Look for the coverages-, basic coverages are similar which are offered by most of the insurers. You must carefully go through and understand every factor included to be claimed in case of damage or loss. Under the cover, Natural calamities, human-made disasters, etc., are included. It is impossible to know when to claim without having sufficient knowledge of this.
  • Remember the inclusions and exclusions- it is essential to know and keep in mind when you are eligible for a claim, and when you are not, be it the add-on or the necessary cover. When your two-wheeler vehicle has been damaged due to driver intoxication, then making a claim is a futile effort.

Don’ts under a two-wheeler insurance policy:

  • Do not go for a cheaper cover that does not cover well- There might be covers that may give you premium respites. However, this is not always recommended for you.
  • Do not delay in filing for the claim- Filing a claim within the stipulated time is the only way to ensure you receive the benefits of the insurance policy. Claiming the policy even a day after the slotted time will disqualify your entitlement to the claim.
  • Do not forget to renew policies- if you own a two-wheeler vehicle, Two-wheeler insurance. So you can proceed to renewals and are always covered by setting reminders for getting a heads-up on when the policy expires.

Hence when it comes to buying a two-wheeler insurance policy, you need to know one thing for sure that if you fail to understand any part, get in touch with your insurance provider. 

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Does your health insurance cover COVID19?
published on October 21, 2021 | Health insurance

Pandemic declared coronavirus (COVID 19) had impacted the lives of many across the globe. To offer protective coverage for expenses related to the coronavirus disease, the Insurance Regulatory and Development Authority in India (IRDAI) had issued a circular asking the insurance providers to develop health insurance plans. 

What is Coronavirus (COVID-19)?

Novel coronavirus (COVID-19) is a group of viruses that attack a person’s immune system, resulting in diseases as mild as the common cold to as severe as Severe Acute Respiratory Syndrome (SARS).

These include fever, dry cough, tiredness, and sore throat. However, the disease affects different people in different ways. It has been fatal for people aged above 60 years and those with pre-medical conditions.

What is Coronavirus Health Insurance Policy?

Among all the health insurance plans for families, Coronavirus health insurance policy is a customized health insurance policy aimed at covering hospitalization, pre-hospitalization and post-hospitalization expenses, and other medical costs arising due to the treatment of COVID-19. The cover is available from day one after the insured is tested coronavirus positive. Almost all health insurance policies now offer cover for the treatment of coronavirus in India.

Things to consider when it comes to buying health insurance plans for the family:

The credibility of the provider- 

The first and foremost evaluation of buying the best Corona Virus Insurance has to be to check the insurance provider’s credibility. Several companies are offering competitive rates and insurance benefits. However, not all may be as proactive when it comes to approving a claim.

Affordable premiums:

Buying COVID-19 insurance is essential, especially for those in high-risk areas. Still, the current situation has affected everyone’s income stream, and thus, it is even more important to buy a cover that has premiums enough to fit into your budget.

Simple process:

It would be best if you also considered this aspect when it comes to buying COVID Insurance is the process of applying and processing the claim. Please read carefully through the company policies to ensure their claim process is hassle-free and straightforward, so your family doesn’t have to run from one end to the other, making insurance claims.

Things covered under COVID health insurance:

  • Hospitalization Expenses: Coronavirus health insurance policies cover hospitalization expenses arising from COVID-19 if it exceeds 24 hours.
  • Quarantine Cover: COVID-19 specific health insurance policies also cover the insured individuals quarantined in government identified authorities.

Things not covered under COVID health insurance:

  • Home Quarantine: Expenses incurred during the quarantine period spent at home are not covered under COVID-19 specific health insurance policies.
  • Pre-Existing Diseases: Any expenses arising due to treatment of pre-existing illnesses are not covered until the waiting period is completed
  • Hospitalization Without Doctor’s Recommendation: If the insured gets hospitalized without the recommendation of a qualified doctor as specified on the prescription, then he/she will not be covered for the expenses arising due to treatment.

The claim settlement process for coronavirus (COVID-19) health insurance policies is similar to standard health insurance policies.

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Do I Need a Cyber Insurance Policy
published on October 12, 2021 | Cyber insurance

Cybercrime is very rampant these days. Daily, news reports are coming off more and more crime, fraud, and theft relating to information on the internet. In case, if you are new to cyber insurance, this implies protecting the individual or the company financially against cyber-attacks such as Phishing, Identity Theft, ID Theft, Email Spoofing, etc.

It has gained immense importance in recent years, due to the proliferation of hackers, cyber thieves, etc. One of the most common types of cyber fraud is in the field of internet banking. Banking customers often get phishing emails, from fake websites, which resemble original banking sites. Then customers are prompted to enter their username and password, which gives hackers access to the bank account, and consequently, crores of money is swindled by them.

In order to counter this, banks have started an information campaign. This, however, is applicable at the individual level. At the organizational level, many firms are opting for Cyber Fraud Insurance. Using this technique, the firm is insured against cyber fraud, by using the services of world-class experts. Now, let us list the advantages of cyber insurance, which have made it so popular. 

  1. The gap between the current requirements and traditional coverage is greatly reduced

It has been observed that traditional insurance, which is done for commercial liability, is applicable for risk, which comes out of a tangible property, which implies the server, on which data is stored. Conventional policies do not cover the first-party breach costs for notification. This results in a huge gap in the organization’s digital assets coverage, which exposes them to the full costs of an event leading to loss of data. Consequently, cyber insurance is designed to fulfill this gap and act as insurance against cybercrime. To put it into simpler language, cyber insurance provides coverage for:

  • Loss of data.
  • Costs of remedy to respond to a breach of data.
  • Legal penalties and fines and regulations.

2. Covering the expenses of a data breach

Data breaches are very difficult to estimate and make a budget. The scope, size, and complexity of data breaches vary tremendously. Breach of information is very expensive, due to very strict requirements for notification, the chances of fines from different regulatory authorities, specialized monitoring for medical identity and recovery services.

It has been observed that cyber insurance assists individuals cope with unwarranted expenses, and handle some of the costs associated with loss of data. The most common form of loss of data consists of Forensic Investigation, Fees for litigation, All types of communication ( Call Centers, Notification Letters, Regulatory Services ), Data Analysis, Monitoring of Identity ( Credit Monitoring ), Public Relations, Services related to identity restoration, Legal Settlements and Regulatory Fines.

3. Delivering resources for responding to a data breach

In case, there is a loss of data or a very staggering data breach, there are plenty of carriers that offer a panel of approved vendors. This consists of a lawyer, who gives guidance to the insured with the help of the breach response process.

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Does it make sense to buy insurance online from e-insurers
published on October 8, 2021 | Insurance

Insurance is a big business today. All kinds of insurance, be it car insurance, home insurance, health insurance, have lots of customers. For those of you who are new to this concept, insurance is defined as the contract, in which a company or a person receives financial reimbursement or protection against losses, from an insurance firm. The insurance firm pools customers’ risks to make payments much more affordable for the entity which is being insured. In the olden days, insurance was purchased manually, by directly going to the companies or through their respective agents. The process was tedious and cumbersome. 

At present times, the insurance market is dominated by purchasing all the policies online.  Nearly every insurance firm such as Bajaj Allianz, Aviva, TATA AIG, Life Insurance Corporation sells its policies online. The online insurance market is growing at a rate of thirty percent per year. Nearly every big company that has an online presence, also helps customers to purchase car insurance online. Individuals looking for insurance for any kind of brands such as Maruti, Tata, Renault, Volkswagen, etc and any type of automobile like Small Car, Big car, Smart Utility Vehicle will be able to do it with just one click over the internet. Now, people must be wondering, as to why the online market is growing so fast. So, let us give the advantages of purchasing insurance online.

Benefits of online insurance purchase

1. Comparison

This is one of the biggest advantages of purchasing online insurance. The online aggregator assists customers in purchasing online policies. For example, if an individual desires to purchase car insurance, then he/she can go to the no1 site www.policybazaar.com, and check out his favourite policy and purchase it instantly. Using this tool, he will be able to compare Features, Exclusions, Benefits, Inclusions, Premiums, and Car Insurance Online Price of various policies from the site, using a click.

2.  A lot of time is saved.

Since, in this era, where both husband and wife work,  people have very little time, for going to the company’s insurance office, standing in queues, and purchasing their favorite policies. So, they turn to the internet, since it is extremely convenient, and there is very little paperwork. Another benefit is that customers get a hard copy instantly in PDF format, without having to wait weeks for the courier. 

3. The duplicate policy is issued instantly

In the past, when policyholders lost their policy document, they had to contact agents or spend hours and hours together in a queue, for filling up forms, to get their duplicate policy issued. Now, thanks to the facility of online insurance, customers get a soft copy of the policy instantly and also a hard copy. This acts as a big incentive for them to purchase their policies online. 

4. Customer support is 24*7.

Another big benefit of online car insurance is the presence of 24*7 customer support. Customers can clear doubts, or ask for new services and products from the insurance firms, by contacting their customer care services. Nearly, all the customer care services are available by phone, chat, Skype, Social Media, LinkedIn, etc.

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Bike Accessories For Long Distance Motorcycles Touring
published on October 6, 2021 | Bike insurance

Words can hardly describe how it fells when it comes to Exploring new locations on a motorcycle. Experts who offer two wheeler insurance online  say ‘free spirits’ throw caution to the wind and hope everything works out. Meeting new people, visiting new places, on a bike has the ability to empower you, at the same time, freshen you up. To go on such a journey, you need to equip yourself with some necessary bike accessories for a practical and safe ride.

A few must-have Bike Accessories for long distance rides are:

Tool kit:

Different bikes have different tool kits, which have evolved over the years into a set of more advanced and efficient tools. These new tool kits reduce the amount of work for the mechanic and also reduce the effort applied and increase the speed of a repair. For long-distance touring, a tool kit is now a requirement as you never know what problems your bike might face and when it might need a repair. 

First aid kit:

In case of an emergency, a first-aid kit is a collection of supplies and medical equipment that is used to give medical treatment. There is a wide variation in the contents of first-aid kits based on the knowledge and experience of those putting it together. A first-aid kit can also save lives in case of an accident or medical emergency. Since doctors and hospitals won’t be available in remote destinations, the first-aid kit proves to be one of the essential touring accessories you need.

Saddlebags or tank bags:

Earlier saddlebags were earlier used on horses, but ever since the motorcycle was invented, the military started using these bags to carry heavy ammunition and artillery on the bike. Saddlebags are now available as modern motorcycle accessories to place across the rear portion of the motorcycle seat, making them quickly detachable. Panniers are Modern metal Saddlebags. Experts who offer two wheeler insurance online  say a tank bag is a storage compartment attached to the top of the gas tank.

Evacuation Insurance:

you may need to be evacuated to the nearest medical facility and, ultimately, back home when excrement really hits the propeller. Based on your two-wheeler insurance online you could end up with an exceptionally costly transportation bill. Medical evacuation insurance can provide peace of mind for you and your loved ones and potentially save you a pile of money.

Portable Air Compressor:

You will need a way to re-inflate it After you fix your flat tire. Some flat-repair kits come with a few CO2 cartridges, but depending on your tire’s size, you probably won’t have enough to inflate it fully for safe operation.

Motorcycle Owner’s Manual and Spare Bike Key:

Keeping your motorcycle owner’s manual on the bike and being familiar with its contents can be very helpful. Experts who offer two-wheeler insurance online say it contains valuable information about routine maintenance, load capacity, electrical system charging output, proper tire inflation, etc. 

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Senior Citizen Travel Insurance – Myths
published on September 27, 2021 | Health insurance

One of the best ways to secure your family from various health issues is health insurance. But as per studies, less than one-fifth of Indians take advantage of health insurance plans. Even travel health insurance is essential. The only reason 70% of healthcare costs are borne by Indians from whatever savings they possess because of hesitation and indecisiveness to invest in the right policy. Experts say that senior citizens suffer the most as neither do they have health insurance nor keep enough savings to meet medical needs.

Some of the myths of travel health insurance are:

1. My parents are healthy, and they do not need health insurance

As people grow old, their body becomes fragile and become susceptible to various illness. Many medical studies have proved that an old-aged person’s health is as delicate as a child’s. You must be extremely careful about your parents’ health and take the necessary precautions to keep them healthy. It is paramount that you buy medical insurance for them. Even if your parents (who are senior citizens) show no sign of any health issues right now, their condition can change quickly.

2. Family Floater Insurance Policy will offer enough cover

When it comes to buying domestic travel insurance  India, people say family floater insurance policy generally covers all the family members, including parents, spouse, and children but here, if you make any claim because of illness to any of your family member, the sum insured is reduced, which means there will be only limited coverage for the elderly members of your family. It is best to buy separate health insurance for elderly family members to avoid all situations.

3. Senior citizen health insurance is expensive

Ideally,  people buy health insurance domestic travel insurance India and cover the treatment expenses that they may incur in the future. You can safeguard your savings and finances today so that you can provide the best medical care and treatment to your parents in the future. Undoubtedly, the cost of medical insurance for senior citizens is slightly higher than the cost of insurance for non-senior citizens, but it is not extremely expensive.

4. The senior citizens in my family have a medical condition; they cannot be covered under health insurance:

It is one of the most common misconceptions people have about senior citizen health insurance and Travel Insurance for Seniors.  The majority of the people avoid buying health insurance for the family’s elder members mainly because they believe that their pre-existing illness would not be covered under the plan. You can get a health cover for your parents if the insurer you choose is willing to cover the pre-existing disease. You need to ensure that you thoroughly research the insurance companies that provide coverage for pre-existing conditions before approaching the insurance.

Hence, as you know all the myths regarding Travel Insurance for Seniors, make sure that you make an informed buying decision.

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A financial plan for taking care of your aged parents
published on September 24, 2021 | Health insurance

Age is a precursor to illnesses. As the age of the person grows, it brings illnesses, which are very expensive to treat. The reason being that as age grows, complications grow inside the body, and due to wear and tear, of the various body parts, diseases start emerging. Currently, there are many insurance firms that provide health insurance plans for their senior citizens. These health insurance plans cover lots of health expenses, which are incurred by the policyholders. In India, the majority of companies provide senior citizen health insurance policies, which give policies to people who are aged more than sixty years.

Nearly, all health insurance plans provide lots of benefits to their customers, such as Cashless Hospitalizations, Daycare Expenses, Pre-existing conditions cover, No requirement of medical tests and Higher sum insured. Considering all these benefits, it is imperative that individuals opt for a health insurance policy for themselves and for their parents, who are senior citizens. Currently, the major plans providing health insurance for parents have lots of features such as Cashless Hospitalizations, Critical Illness Cover, Cover for Diseases like Cancer, Stroke, etc. Now, let us list the major features of senior citizen health insurance policy.

  1. Features of Senior Citizen Health Policy

All the major health insurance companies in India provide senior citizen health insurance policies. The main features of all these plans are stated below.

  • Only individuals above sixty years of age are entitled to health insurance coverage under the plans for senior citizen health policies.
  • Currently, the majority of senior citizen health policies don’t require any pre-screening.
  • Another major feature of senior citizen health policies is that there is a free locking period of around two weeks, for reviewing the terms of the policy.
  • Customers will be able to utilize a free medical checkup every year.
  • The majority of senior citizen health insurance policies cover pre-existing diseases.

If there are older individuals in the family, then one must be interested to know the major advantages of purchasing health insurance plans for family. Now, let us list out the major advantages of purchasing a senior citizen health policy.

  1. Benefits of Senior Citizen Health Insurance Policy

The major benefits of senior citizen health insurance policies are given below.

  • The settlement process for all the policies is extremely smooth and convenient.
  • If the individual is admitted for more than twenty-four hours, then he/she can avail of the policy of cashless hospitalization.
  • The health insurance policy consists of Room Charges, Doctor’s Fees, In-Patient Hospitalisation costs, and expenses for the physician.
  • The policy will cover emergency ambulance expenses. 
  • Another big benefit of acquiring a senior citizen health insurance policy is that pre and post hospitalization expenses are included.
  • The diseases which exist in the body before treatment, are mentioned in the policy document.
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Do I need a cyber insurance policy?
published on August 31, 2021 | Cyber insurance
Cybercrime is very rampant these days. Daily, news reports are coming off more and more crime, fraud, and theft relating to information on the internet. In case, if you are new to cyber insurance, this implies protecting the individual or the company financially against cyber-attacks such as Phishing, Identity Theft, ID Theft, Email Spoofing, etc. It has gained immense importance in recent years, due to the proliferation of hackers, cyber thieves, etc. One of the most common types of cyber fraud is in the field of internet banking. Banking customers often get phishing emails, from fake websites, which resemble original banking sites. Then customers are prompted to enter their username and password, which gives hackers access to the bank account, and consequently, crores of money is swindled by them.
In order to counter this, banks have started an information campaign. This, however, is applicable at the individual level. At the organizational level, many firms are opting for Cyber Fraud Insurance. Using this technique, the firm is insured against cyber fraud, by using the services of world-class experts. Now, let us list the advantages of cyber insurance, which have made it so popular.
1. The gap between the current requirements and traditional coverage is greatly reduced

It has been observed that traditional insurance, which is done for commercial liability, is applicable for risk, which comes out of a tangible property, which implies the server, on which data is stored. Conventional policies do not cover the first-party breach costs for notification. This results in a huge gap in the organization’s digital assets coverage, which exposes them to the full costs of an event leading to loss of data. Consequently, cyber insurance is designed to fulfill this gap and act as insurance against cybercrime. To put it into simpler language, cyber insurance provides coverage for

  • Loss of data.
  • Costs of remedy to respond to a breach of data.
  • Legal penalties and fines and regulations.

Cyber Protect Image

Get insured from the comfort of your home.
Cyber insurance plans with ₹ 1 Lakh cover at ₹ 55/month*
  • Unauthorized Online Transactions
  • Email Spoofing
  • Phishing
  • Legal Expenses
  • Unauthorized Online Transactions
  • Email Spoofing
  • Phishing
  • Legal Expenses

2. Covering the expenses of a data breach
Data breaches are very difficult to estimate and make a budget. The scope, size, and complexity of data breaches vary tremendously. Breach of information is very expensive, due to very strict requirements for notification, the chances of fines from different regulatory authorities, specialized monitoring for medical identity and recovery services. It has been observed that cyber insurance assists individuals cope with unwarranted expenses, and handle some of the costs associated with loss of data. The most common form of loss of data consists of Forensic Investigation, Fees for litigation, All types of communication ( Call Centers, Notification Letters, Regulatory Services ), Data Analysis, Monitoring of Identity ( Credit Monitoring ), Public Relations, Services related to identity restoration, Legal Settlements and Regulatory Fines.
3. Delivering resources for responding to a data breach
In case, there is a loss of data or a very staggering data breach, there are plenty of carriers that offer a panel of approved vendors. This consists of a lawyer, who gives guidance to the insured with the help of the breach response process.
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IRDAI Registration No.: 217
Valid from : 13/10/2018 to 12/10/2021
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Principal Officer Name: Mr. S. V. Thakkar
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