General Insurance in India

During a lifetime we do a lot of investments, some of which are quite major. There is a lot of enthusiasm and excitement that comes along with these purchases. However, in hindsight, one must not forget that such huge purchases also bring a lot of potential financial risks along with them. Taking precautions against such instances is the best bet.

We do not realize but we take a lot of similar precautions on a day to day basis. For an instance, while cooking you wear an apron. It is not in the anticipation of stains or other minor hazards that might take place. It is just a precautionary measure to ensure the cooking process goes on smoothly.

One must apply similar measures when it comes to assets that we dearly love. A general insurance policy is a precautionary measure for such instances. A general insurance policy is for all non-life insurance related assets which we value a lot on a regular basis.

General insurance acts as an umbrella that has several insurance policies under its belt. The following are the ones that you can buy.

• Health Insurance
• Motor Insurance
• Rural Insurance
• Travel Insurance
• Home Insurance
• Marine Insurance
• Commercial Insurance

Which Company Offers the Best General Insurance Plans?

Since a general insurance is a category and has several policies under them, you will be able to find insurers for each of these categories who offer the best products. The following are the two most sought-after general insurance policies.

Motor Insurance

The motor vehicle act of 1988 mandated all vehicles to have a valid insurance policy so as to ply legally on the road. However, that should be the last reason for you to buy a motor insurance plan. A good motor insurance can save you from a lot of potentially hazardous situations. Right from natural calamities such as flood, earthquake, landslides to man-made nuances such as theft, burglary, riots etc. the policy offers coverage. Here are some of the best policies available in the market.

Bharti AXA

When you opt for a Bharti AXA motor insurance, you get access to the following features and benefits.

• Access to a wide range of 2500+ network garages.
• A quick settlement and smooth settlement process.
• A healthy range of add-ons to enhance the capabilities of the policy.
• A hassle-free process of renewing the policy.

HDFC Ergo

• A big list of 3400+ network garages.
• A healthy range of add-ons to choose from.
• The ability to buy a policy for two or three years at a stretch for two wheeler insurance.

Bajaj Allianz

• Over 4000+ network garages to choose from.
• Get access to 24/7 road side assistance.
• Get access to Bajaj’s quick claim settlement process.
• Swift paperless renewal that can get over within a few minutes.

Which General Insurance Plan is the Best Fit for You?

Of the various policies that are available under the banner of general insurance, two of them stand out, a health insurance policy and motor insurance policy. Given the ever-increasing prices of medical procedures, one simply cannot afford not buying a health insurance policy. Similarly, most of us own either a two-wheeler or a four-wheeler or aspire the buy one. Having a policy for the same is a mandate that one must follow. The following are the benefits associated with buying either of the plans individually.

Health Insurance

When you buy a health insurance plan online through websites like Coverfox.com, you ensure that your family is not burdened with medical expenses. A good health plan will keep at bay any unforeseen medical expenses. Also, the following benefits.

• Most health plans offer coverage for ambulance related expenses.
• A standard health plan covers all expenses of an inpatient, i.e. a patient admitted for more than 24 hours. These expenses include nursing charges, doctor consultation fees, room rent, diagnosis, medicines and so on.
• Most of the health insurance plans offer pre-hospitalisation cover up to 60 days prior to a medical procedure and post-hospitalisation up to 90 days post a medical procedure.
• You can also seek cover for domiciliary treatment.
• Quite a few insurers offer covers for medical treatment that takes less than a day, in other words, day care procedures.

There is a substantial amount of difference between the needs of individuals from different policies. Thus, depending on your needs and requirements you can pick up a general insurance policy. Since there are various insurers, it offers a great deal of flexibility and options to you as a potential buyer.