General Insurance


HOUSE HOLDER POLICY

Home insurance provides against financial loss against damage of the structure and/or contents of your home caused by natural and man-made disasters. A home is your most important asset, and it is natural to safe guard it against any calamity. The amount of cover is dependent on the cost of construction of the house and the value of consumables

This is a package policy, designed to meet the requirements of householders by combining a number of covers under a single policy as detailed below:

 

 

RISK COVERED:

  • Fire (Building including content)

  • Earthquake

  • Burglary/House breaking

  • All risk (jewellery & valuables)

  • Plate glass

  • Break down of Electrical appliances

  • TV/VCP/VCR/PC/Mobile

  • Baggage

  • Personal Accident

  • Public Liability

 

MOTOR INSURANCE

Private car insurance policy provides coverage for loss of or damage to your vehicle against the risk of accident, fire, theft, floods, earthquake, riot, strike etc. The policy also gives coverage for your liability arising out of death, injury to third party and/ or third property damage.

TYPES OF COVERS  

1)  Third Party/ Liability only/ Act Policy-

  • Death or injury to any person by the vehicle - Unlimited.

  • Damage to any property of third party - Maximum of Rs. 7,50,000/-

  • Compulsory PA Cover for owner driver.

2) Package Policy - This covers the followings besides the aforesaid covers.

  • Loss or damage to vehicle (the risk cover are accidental damage, fire, theft, Riot & Strike, Earthquake, Flood, terrorism etc. - Up to the amount of insured declared value (IDV).

ADDITIONAL COVERS AVAILABLE:

  1. Electrical accessories - premium @ 4% of the value.

  2. CNG/LPG kit - 4% of the value.

  3. Paid driver Rs. 25/- covers the accidental death to the sum extent of Rs. 1,00,000/-

  4. Optional P.A. covers to occupants @ Rs. 5 for every 10,000 cover subject to maximum of Rs. 2, 00, 000 per person.

  5. Extension of geographical area

 

 

TRAVEL INSURANCE

Overseas travel insurance is required while traveling outside India. It is extremely risky to be in a foreign country without medical insurance and in many instances, international travel insurance is necessary for visa purposes. The travel insurance policy covers the insured against various eventualities while traveling abroad. It provides coverage against personal accident, medical expenses and repatriation, loss of checked baggage, passport etc.

Medical treatment is expensive overseas and can become a major financial problem in case of any emergency/ accident .Hence; this policy will come in handy in case of any medical trouble abroad.

WHAT IS COVERED?

  • Medical Expenses.

  • Dental Treatment

  • Personal Accident.

  • Total Loss of Checked Baggage.

  • Delay of Checked Baggage.

  • Loss of Passport.

  • Hotel Bounce

  • Personal Liability. 

 

FIRE INSURANCE

 

Indian fire insurance, like all other insurance policies in India, is considered a federal issue. The Tariff Advisory Committee, which is a Statutory Body, issued the All India Fire Tariff on March 31, 2001, which governs all India fire insurance policies. The commercial fire insurance India policy provides protection to buildings, machinery, offices and contents. The purpose is to alleviate the risk of loss borne by the insured due to the breakout of fire. The insured is expected to minimize the loss as much as possible by taking all feasible steps.

 

What is the Procedure of a Fire Insurance Claim?

• The insured is expected to inform the insurance company at the earliest and within 24 hours.

• The insurance company appoints a claim representative who surveys the fire damaged property.
The insured needs to provide the claim representative all the relevant information.

• The degree of actual loss is evaluated by the claim representative.

• The processing of the claim takes a maximum three weeks.

What documents are Required for fire Insurance?

The documents that the policyholder is required to produce while claiming for the loss include a report of the fire brigade, a true copy of the policy along with the schedule, past claims experience, a claim form and photographs.
 

To get a Fire Insurance Cover, An Individual also needs to fill up the following information in the Policy Form.

• Name, occupation and address.

• Subject matter description – which allows for identification in case of a fire.

• Information about the area where the property is situated.

• The purpose for which the property is being used.

• Whether the property is already insured.

• Personal insurance history.