One of the most popular modes of transport on the Indian roads is two-wheelers. The two-wheeler riders are also exposed to high risks of accidental injuries and fatalities, but riding a two-wheeler can make it easier to breeze through the traffic. We consider numerous factors such as design, mileage, and price, among others, when buying a two-wheeler. Hence, owning two-wheeler insurance is highly recommended to enjoy the ride without any worry. The third-party insurance cover is obligatory, which gives you coverage against a third party’s financial liabilities.

It is advisable to purchase a standalone own-damage cover or a comprehensive insurance plan that will cover both aspects under a single premium in a hassle-free manner; hence, it is also advisable to think about the cost of own damages in a mishap.

Why should you buy two-wheeler insurance online?

Motor insurance is mandatory as per the Motor Vehicles Act 1988; riding a bike without insurance is an offence that’s punishable by law. As per law, only third-party insurance is mandatory, and people prefer buying a third-party cover to save on premiums. However, it is essential to understand that having an insufficient insurance cover is as good as having no insurance at all. Therefore, it is necessary to compare bike insurance online and buy an insurance policy that meets your requirements in the best way.

Tips to consider when it comes to buying two-wheeler insurance online:

You consider various factors like looks, mileage, cost, etc. Similarly, you should choose the right insurance cover for your two-wheeler by going through several aspects while buying a two-wheeler. As a comprehensive two-wheeler insurance cover provides an all-inclusive cover, it is advisable to prefer buying cover over third-party insurance.

Know your Coverage Requirement:

It is essential to make an assessment based on your requirement and budget before you start to look for insurance. Bike insurance is of two types depending upon coverage – third-party cover and comprehensive cover. Based on your two-wheeler usage, your expenditures, and other existing liabilities, choose a plan that offers the right range.

The Cubic Capacity of the Bike Decides your Premium:

When you are choosing insurance, be informed about your bike’s cubic capacity, as your bike’s cubic capacity decides the insurance premium that you will pay. If the cubic capacity of your two-wheeler is high, your premium will also be on the higher side under the motor vehicle insurance quote.

Understand Insurance Declared Value (ID):

Ideally, as per the motor vehicle insurance quote, ID is the current market value of a vehicle. ID is the maximum sum insured fixed at the time of purchasing a policy and is the amount that will be paid in case of total loss or theft of a two-wheeler. As a vehicle age, depreciation will increase, ID will decrease, and as a result, the premium will get lower year on year. Keep the above points in mind when buying insurance, and also ensure to renew your policy on time.

Critical Illness is a condition when someone’s life is in danger and he/she requires emergency treatment as soon as possible and too much money is needed to cure the illness.

Critical Illness insurance is also called catastrophic illness insurance.

When there’s some sort of big health emergency, such as heart attack, cancer, etc., medical insurance is the only thing that helps to prevent financial problems.

In Today’s generation, there is a risk of critical illness and medical treatment requires a high cost. That is why one should make a cover plan for health or medical insurance or health cover.

All this insurance not only helps the people in their time of need but also provides a huge amount of money and also provides a financial backup plan.

Under the plan of critical illness, one needs to pay the total amount of money to the insured so that it can be used later on for the treatment costs and also to pay the debts that are taken because of diseases.

For firefighters and first responders, their job is related to danger that is why they need emergency services, as these services come along with health problems that are too risky for someone’s life. A firefighter’s life is riskier than an American as fighters cause cancer issues easily, heart attacks, failure of kidneys, and many more other health-related issues. As firefighters work in such a risky place, that is too hazardous a place to work. Members of this field should offer some health illness insurance to them so that they can feel that we care about their life and health and also their financial status.

Why we need Critical Illness Insurance

In today’s world, there is a rise in incidences and lots of risks in people’s life due to various health problems. Because of all this treatment, we need a critical plan more significantly as in our latest generation cancer surgery can up to Rs16-18lacs, transplantation of the liver can cost Rs24-35lacs. So because of all these huge figures, one needs a critical illness insurance plan.

Benefits of Critical Illness Insurance-

One gets payment in a lump sum amount-The insured pays the full amount of money. We can use this money to pay off the debts, to pay the treatment costs, and recuperation expenses.

The procedure of claiming is easy- Hospitalization does not need to be important for claiming the insurance, one can get the claim through diagnosis reports also.

The waiting period is less – One must wait for up to 3 months for claiming.

Benefits to Avail Tax-Under section 80D Critical Illness plans offer tax benefits with medical insurance.

Under the policy that covered a certain list of illness diseases-

Cancer, first heart attack, coronary artery disease, coronary artery bypass surgery, heart valve surgery, surgery to the aorta, stroke, kidney failure, Plastic Anemia, End-stage lung disease, End-stage liver failure, Coma Major Burns, Major organ or the Bone marrow transplantation, the Multiple Sclerosis, the Fulminant Hepatitis, the motor neuron disease, the primary pulmonary hypertension, the terminal illness and bacterial meningitis.

The insurance policies have been working as a saviour to cover up the losses suffered due to distinct rationales. Insurance policies work on a principle that, if the damage of an asset is endured, the victim is liable to cover up the damage with the help of insurance. With the upswing in the number of crimes recorded, it has been crucial to modify the cybercrime insurance policies to ensure maximum valid returns. The boost up in the technical facets has raised the number of cybercrimes as well.

The smartest crimes are executed through cyber and are born to earn a sum on a large scale. Working with insurance can help retain the monetary and informative loss in the IT networks. Opting for a cyber-insurance policy empowers assistance when faced with any stature damage or regulatory enforcement. When dealing with cyber fraud, the stakes fall into two categories, first-party threats, and third-party threats. A cyber fraud insurance policy is capable to cover up either of these or both types of risks.

The first-party risks are the ones when a business suffers the loss of its assets. First-party insurance will cover the loss of the business’s properties.

The damage or loss to digital possessions including databases or software programs falls under this category.
Cyber exhortation cases where the third party threatens to cause deterioration or data release in case of untimely monetary payment also fall under first-party insurance.
Intruding the business or causing damage to the business in the network downtime.
The data breaching results in hampering the reputation of the company along with the loss of diligent property or valuable customers.
Monetary theft including digital assets or equipment theft comprising electronic theft also falls under first-party insurance.
The expenses are spent on notifying the consumer regarding any privacy breach. The notification can be a legal or regulatory requirement in case of any security or data breach.

The third-party risks deals with the risks of others. Here, the word others refer to the customers benefiting from the services of the company.

The privacy breach affects the consumer data stored in the company’s system. The security breaches, investigation costs, and other sophisticated damages correlated to them can be covered through third-party insurance.
Cybercrime may lead to loss of third-party data of the consumer incorporating the payments, compensations, records of service providing, denial entrance, downfall in the software systems, etc. All these losses can be covered by third party insurance.
The detriment to cover the investigation charges, defence expenditures, and civil ravages that arise from slander, secrecy breaching or ignorance in publishing through electronic printing medium falls under third-party insurance.

Being pre-equipped with a cybercrime insurance policy can aid to conceal all the losses and damages caused to the company and the valuable data related it. Even a minute leak in the consumer or company data results in a great penalty. Applying for insurance can be a king-term protection plan for company data. Cybercrimes are one of the most complex crimes to reimburse the loss suffered. In conclusion, preferring an insurance policy can save you from untimely damage and its relative expenses.

It is essential to understand what home insurance is to realize the value of home insurance. Home insurance cover is a unique type of property insurance covering your house from different kinds of dangers like accidents, perils, damages, and thefts. If the house gets damaged, the emotional and financial pain of rebuilding the house or reinstalling its contents is painful, challenging, and tedious. A comprehensive home insurance policy spares you the horror of the same.

Insurance companies provide different plans under house insurance such as landlords’ insurance, tenants’ insurance, content insurance, buildings insurance, etc. A standard house insurance plan also covers loss and damage caused to your property due to a fire accident, theft, allied perils, and burglary.

Some benefits of the home insurance cover are:

1. Protects against liabilities:
House insurance policies provide liability coverage that covers you against personal injuries, property damage to guests, and other third parties that they might have incurred while residing in the insured house. There could also be loss and damage caused to third parties for which you or your family members may be responsible for legal terms. Hence, the coverage is critical as it provides protection to you and your house from any possible legal problems.

2. Provides coverage against natural and human-made calamities:
A fantastic home insurance policy protects your house against losses and damages caused due to natural calamities, including earthquakes, floods, lightning, storms, typhoons, etc. The policy also covers your home from human-made hazards and anti-social activities alike. These are acts such as vandalism, thefts, strikes, riots, other activities caused out of malicious intent, etc. It also enables you to recover from the loss and rebuild your home financially.

3. Coverage of temporary living expenses:
When you buy property insurance online, it gives you coverage against temporary expenses. For example, your insured house has undergone some damage and is uninhabitable until you rebuild/renovate it. Then, suppose you rent out another house and apartment to stay there until your own home to livable condition during the rebuilding/ renovation process. In that case, the insurance company will cover your expenses incurred for paying rent.

4. Coverage for the loss/damage to your valuable assets and precious personal belongings:
Besides covering the structure of your house, house insurance companies also offer policies to provide coverage against loss/ damage to articles/contents kept inside the insured home. It features valuable, expensive, and essential belongings. These include documents, personal belongings, jewellery, clothing, appliances, furniture, and much more.

5. Makes it easier to avail of a house loan from banks:
The majority of the banks prefer those customers who have their homes insured. For individual financiers, home insurance is, in fact, one of the primary eligibility criteria for availing of a home loan.
Hence, buying a house is the single largest investment for most people. It is a challenging task that involves a lot of planning, saving, and research. Above all, when you buy property insurance online, you can avail this task.

Your home’s location, construction, and condition, as well as your credit and claims history, all play a part in how much you pay for home insurance. Insurance companies assess risk in different ways, so it’s essential to compare homeowners’ insurance quotes to be sure you get the most affordable rate. It is critical to review your insurance coverage regularly so you can be sure your coverage keeps pace with the cost to repair or rebuild your home and replace its contents, including any upgrades you might make over time.

Some of the things which affect the homeowner’s insurance quote are:

1. The replacement cost of your home – Under-insuring your home’s value is perhaps the biggest mistake homeowners make when insuring their homes. Not having enough coverage can lead to financial pain if the worst happens. Replacement cost is the amount of money to build the exact same house where it stands now. This is different from a home’s market value. Market value includes other things, such as the land’s value.
2. Home insurance deductibles – A deductible is an amount you pay toward a loss before your insurance company pays a claim. Choosing the right deductible amount is a significant decision. The higher the deductible, the more money you save on premiums.
3. Age of house, roof and materials – As your home and roof age, they could become more susceptible to damage from weather elements or even internal deterioration. Replacement costs, including material and labour, go up over time.
4. Wood-burning stoves – If you have a wood-burning stove, you could limit potential premium increases by providing your insurance carrier with proof your wood-burning stove was installed by a licensed contractor and meets code requirements. Install smoke detectors on all levels of your home. Additionally, keep a fire extinguisher in an easily-accessible location and make sure everyone in the household knows how to use it.
5. Marital status – When it comes to buying home insurance online, insurers tend to smile at married homeowners. Married couples historically file fewer claims than singles and are seen as, possibly, more mature and definitely less of an actuarial risk by insurance companies.
6. Having a swimming pool, hot tub, or outdoor spa – These nice-to-have features will increase your home insurance rates because you’ll need additional liability coverage in case someone is injured, and the Insurance Information Institute suggests homeowners with swimming pools and other special features, such as spas, consider an umbrella policy to provide additional protection in the event someone gets injured on your property and decides to sue.
7. Home-based businesses – As experts who offer home insurance online, you may need coverage for equipment and electronics, business vehicles, and inventory stored on-site if you work from home. Standard homeowners insurance may provide some protection for business equipment, but coverage varies by policy and may not be enough.

Hence, insurance companies use multiple factors when setting your home insurance rates. These factors point to the importance of shopping for home insurance.

Employees are a company’s most valuable asset. They love benefits. They want appreciation and recognition for their hard work. Not to forget that many employees apply for organizations depending on the perks and services offered by that company. These are non-monetary benefits provided to attract and retain employees and are also called fringe benefits. Employee Benefits like unlimited vacation and work from home privileges are things of the past now. The employees of today appreciate health insurance plans.

Preferred compensation types:

• Health Insurance:

Health insurance plans are great ways to show your employees that you care about them. The organization pays specific amounts of money to cover an employee’s medical care. These include insurance for losses from accidents, disability, sudden death, and dismemberment.

• Disability Insurance:

The employer pays for the worker’s salary if the worker becomes disabled or is unable to work. An employer can provide either short-term or long-term disability or health insurance for employees, depending on the employee’s needs.

• Tuition Reimbursement:

Organizations offering employees to pay back for their education expenses is an excellent employee benefits idea. Employees have to pay on their own before taking up a course.

• Retirement Benefits:

You can add in your compensation package is providing your full-time employees with financial security.

• Paid Sick Leaves:

It will directly affect their productivity and efficiency when employees will be weak but still have to work. Hence, you need to have some policy where they can avail themselves of paid sick leaves is a great way to show that you care for your employees’ well-being.

• Performance Bonus:

Employees continue to perform well when you appreciate employees for their hard work and achievements, as everyone wants to and loves being appreciated. Hence, you need to reward them for their performance to motivate and encourage them to achieve goals more effectively. A corporate travel insurance policy is also a great idea.

• Stock Options:

The company offers the employee the right to buy some shares in the company at an agreed-upon price by a particular date. It helps employees have ownership over something that they are working to build, too.

• Paid Parental Leaves:

Besides buying a corporate travel insurance policy, you also need to provide paid time off to employees to take care of their child or a family member. Parental leaves can be in the form of paternity leaves, maternity leaves, or even adoption.

• Wellness Programs:

These are programs initiated by the company to encourage employees to maintain a healthy lifestyle. These include programs such as gym memberships, weight-loss competition, smoking cessation, and health screenings.

You can make your company more diverse and inclusive when you provide your employees with the right kind of benefits, and perks are essential. It is necessary to attract and hold on to your top talent. But, it is of utmost importance that you have a comprehensive and dynamic employee benefits plan.

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 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 coverage. 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 compressive 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 ID: one of the essential factors that need to be considered while reducing the premium amount of your vehicle insurance is Insured Declared Value (ID). It is the current valuation of your two-wheeler in the market. Depreciation of the two-wheelers is factored into the ID, and the ID is then calculated.
Look for the coverages-, basic coverages are similar which are offered by most 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’t under a two-wheeler insurance policy:

Do not go for a cheaper cover that does not cover well-There might cover 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 if you fail to understand any part, get in touch with your insurance provider.

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, a 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 Coronavirus 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 by 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.

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.

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, and 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 cars, big cars, or Smart Utility vehicles will be able to do it with just one click over the internet. Now, people must be wondering, 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 desire 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 prices 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 favourite 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 documents, they had to contact agents or spend hours and hours together in a queue, 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.