What it covers
General insurance protects assets and liabilities rather than life. Most households hold at least one such policy, often renewed each year without anyone reading it.
Motor insurance
Third-party cover is a legal requirement for any vehicle on Indian roads. Comprehensive cover adds protection for your own vehicle against accident, fire and theft.
- Insured Declared Value is the basis of your claim. Setting it artificially low to reduce premium reduces what you can recover.
- Zero-depreciation add-ons materially change the settlement on a newer vehicle.
- No-claim bonus accumulates for every claim-free year and is transferable when you change vehicle or insurer.
Home insurance
Cover for the structure, the contents, or both — against fire, burglary and specified natural events. Premiums are usually modest relative to the value at risk, and long-term policies are available for the structure.
Travel and personal accident
- Travel insurance — medical treatment abroad, trip cancellation, baggage and passport loss. Essential for international travel, where a single hospital admission can exceed the cost of the trip many times over.
- Personal accident — a benefit on accidental death or permanent disability. Disability, which health insurance does not address, is the more likely of the two.
Please note
Insurance is the subject matter of solicitation. Please read the policy wording, the prospectus and the exclusions carefully before concluding a sale.