Aviva Life Insurance launches 3 new products Private insurer Aviva Life Insurance on Friday launched three new products, including two unit-linked insurance plans (ULIPs).
Marsh launches insurance cover for water utilities Insurance brokerage firm Marsh India on Friday launched a specialist contamination insurance product for water utilities.
LIC eyes Rs 795 cr collection from Chandigarh division Life Insurance Corporation of India's (LIC) Chandigarh division is eyeing an over 20 per cent growth in collection from first premium and pension products at Rs 795 crore in the current fiscal.
Query Corner: Insurance Our expert Amit Suri, CFP, AUM Financial Planners offers tips on the best insurance products available in the market.
Kotak Life launches two new ULIPs Kotak Life Insurance on Thursday launched two new unit-linked insurance plans -- Kotak Secure Invest Insurance and Kotak Wealth Insurance-meeting the new IRDA guidelines.
Future Generali targets 2% market share by this fiscal end Private insurer Future Generali India Life Insurance is targeting an increase in its market share to 2 per cent by end of the current fiscal from the current 1.3 per cent, a top company executive said on Thursday.
HDFC Life launches new ULIP Private life player, HDFC Standard Life, today launched a new ULIP, assuring higher returns.
New ULIP norms will build investor confidence: Pranab Finance Minister Pranab Mukherjee said the new norms for unit-linked insurance plans (ULIPs) which kicked in Wednesday are aimed at building investor confidence.
In the past the opportunity to buy car insurance online
was not available, however now with the help of the internet such things
are possible. Through the internet one can surf online for various insurance
schemes from a variety of companies immediately and even buy the insurance
online.
Car insurance used to be considered a frivolous and unnecessary expense
in India. But Indias Motor Vehicles Insurance Act has now made it
mandatory for all vehicles in India to be covered by insurance or be fined.
Any vehicle being driven on Indian roads needs to be insured, whether
the vehicle is being used for business or social purposes.
This act is subdivided into:
Third party insurance or Act only risk covers any damaged
caused to life or property of a third party. The damages caused to the
insured partys vehicle arent compensated for under this
division.
Comprehensive insurance provides a wider range of insurance
coverage for a vehicle. This kind of vehicular insurance covers not
only third party damages like the Act only risk insurance, but also
protects the insured persons vehicle from damages caused by fire, earthquakes,
riots etc; and even loss or theft of the vehicle.
Automotive insurance coverage is usually valid for a
period of one year. An insured must make sure that the premium for the
vehicle is paid well within the expiration of the policy to maintain constant
vehicular insurance coverage.
There are various kinds of plans for automobile insurance coverage in
India that extends not only to 4 wheelers, but also to two wheelers, three
wheelers and commercial vehicles like trucks and trailers.
India having the status of being the second largest 2 and 3 wheeler manufacturers
in the world (after China and Japan that are tied in first place) speaks
for the ever growing numbers of 2 and 3 wheelers on Indian roads. 2 wheeler
traffic is recorded to being about 70% of total traffic on Indian roads.
This makes Indian auto insurance companies like ICICI Lombard, Bajaj Allianz
and The New India Assurance some of the biggest names in providers of
insurance for two wheelers.
Lots of companies are now throwing their doors open to accommodate the
automobile insurance needs of the Indian citizens. Thanks to the growing
influence of the internet in daily workings, it is not very difficult
to find an insurance policy that meets specific criteria of an insured.
Most Indian automobile insurance companies provide incentives like no-claim
bonuses to those policy holders if no compensation claim has been made.
These bonuses are provided for rates as high as 50% of the policy, providing
a major incentive to the policy holder to keep his policy record clean
and practice safe driving.
Indian automobile insurance also provides for both HCV and LCV insurance.
HCVs or Heavy Commercial Vehicles constitute a major role in the delivery
of goods and services circuit that runs all over India. Growing number
of companies want to make their products/services available to people
beyond the borders of their home city/state. This trend has made it necessary
for Heavy Commercial Vehicles to be covered by insurance; thus protecting
them from minor to major accidents while on the road. Insurance policies
that cater to HCVs provides for protection against any injuries caused
to person or property, third party drivers and pedestrians.
Insurance for LCVs or Light Commercial Vehicles is more or less similar
to the insurance policies provided to HCVs. Subscribing to policies for
LCVs can also be done over the internet.
Whatever the size, model, value or use of a vehicle, any and every vehicle
be it a motorbike, car or truck being driven on roads in India; Insurance
is mandatory not only because of the legal requirement but also for the
need to protect and assure life of both an insured and others. Just
fill out the form and we will help you out
Auto insurance is often regarded as an additional expense,
by people who are buying a car and is thus overlooked by them. Nonetheless
if looked at in the long run, buying automobile insurance proves to be
necessary as it significantly decreases monetary expense at the time of
a mishap.
The majority of car owners have a general view of their insurance requirements.
As per the law, auto insurance must cater to some basic criterion to ensure
its legitimacy. The principal coverage's included in car insurance are:
Liability coverage
Personal injury protection- which includes medical expenses, death
benefits, property damage liability and uninsured/underinsured motorist
coverage.
Collision coverage
Comprehensive coverage.
All of which have their particular range of necessities in relation to
these coverage's. A sufficient amount of knowledge on these would enable
one to trim down on insurance costs.
Liability insurance supplies the injured driver of the vehicle
with coverage. Along with that it covers those injured and property
damaged due to the calamity.
Personal injury protection: In some States the insurance policies
are meant to provide personal injury protection and take care of all
the expenditure that takes place during medical treatment. There are
also some policies which look into compensation towards the loss of
earnings, of an injured person who is insured. A policy that incorporates
a death benefit option is a good choice as it provides monetary security
to the family of the insured person in the time of unexpected death.
Collision coverage looks into the insurance for any damage
that is incurred through collision.
Comprehensive coverage is for matters like theft, fire, and
damages due to falling objects, missiles, explosions, earthquakes, flood
and riots.
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