about insurance
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Showing posts with label about insurance. Show all posts
Showing posts with label about insurance. Show all posts

What does not cover in home insurance

Everyone does insurance of cars and bikes, but when it comes to home insurance, most people do not consider it necessary.  While home is our biggest economic investment.  By ensuring home insurance, we ensure the safety of our home and belongings.  You get protection from financial loss in case of natural disaster or theft.  Learn what are the benefits of home insurance…
What does not cover in home insurance
What does not cover in home insurance

What is covered in home insurance

 Insurance companies offer home insurance policies for the home and interiors.  The policy covers building structures and home furnishings.  The insurance company bears the repair costs if the building structure is damaged.  Similarly, the policy also covers compensation for fire, explosion, lightning, theft, flood, storm, cyclone, terrorism, riots, strike, landslide, leakage, earthquake and other natural calamities.  However, many things depend on the policy taker what he wants to cover in insurance.  Insurance companies do not insure property for more than 50 years.  If you are living in a rented house, then you must get the goods insured.

 This is how premium is fixed

The insurance company decides the amount of insurance cover and premium based on the property's construction quality and built-up area (per square foot).  Property size, type of construction, geographical location, goods inside the property, etc. are also important in deciding the premium of home insurance.  The insurance company charges higher premiums from policy holders in areas affected by floods or earthquakes.

 Home insurance companies

Companies like ICICI-Lombard, Bajaj Allianz, General Insurance Company, IFFCO-Tokyo, National Insurance Company, New India Insurance, Oriental Insurance offer home insurance policies.

 Follow these methods for a low premium

A policy should always be taken for a long time to pay a lower premium.  This gives a discount in premium and there is no problem of renewing it.  There is a discount of up to 50% in premium for taking insurance for several years.  For low premium payment, you can get information about the policy online.

 What does not cover in home insurance

Home insurance is not covered under war insurance, intentional sabotage, land shifting around property, loss of property document, loss of antiquities, etc.  Even in cases like civil war, nuclear weapons, loss of domestic help, the insurance company does not compensate.

 Take care of them in the choice of the company

Before taking home insurance from the insurance company, be sure to check the status of the claim settlement.  This will give you information about the company's policy and will not face any problem in taking the claim.  Never decide to take a policy based on low premium.  This will deprive you of many benefits.

Understanding Vehicles Insurance | All about Car Auto Insurance

Car Insurance oh great day you just spent the last eight hours sitting on the beach watching the waves you're all packed up and heading back to the hotel when BAM the guy in front of you slams on his brakes okay no need to worry
Understanding Vehicles Insurance | All about Car Auto Insurance
Understanding Vehicles Insurance | All about Car Auto Insurance
you've got insurance but wait a
second this isn't your car does your insurance cover rental cars did you make the right decision on rental car insurance the good news is most personal automobile policies extend coverage to rental vehicles covering you for both collision and other than collision

losses also known as comprehensive
provided you have those coverages on atl east one vehicle on your auto policy
typically your policy is comprehensive
and collision coverages will extend to
you and other members of your household

who are operating the rental car however
if you don't have full coverage on at
least one vehicle on your personal auto
policy you may need to look into
purchasing the rental companies
collision damage waiver or CDW
when people use that term they often
mean a combination of various types of
coverage but full coverage doesn't
actually exist

don't worry though plenty of auto
insurance options do exist to help
protect you let's talk about a few cause
an accident liability coverage is
designed to cover injuries or damage to
another person or their property in an
accident you caused hmm what about your

car if you've caused an accident
collision coverage can help pay for your
vehicles damage maybe your car's damaged

but not from a wreck if your car's
stolen or if something falls on it
that's where comprehensive coverage
comes in uh-oh an uninsured driver
rear-ended your car don't worry
uninsured and underinsured motorist
property damage coverage may help in
that scenario medical payments coverage

or personal injury protection may help
pay for medical bills and other costs if
someone gets hurt

worried about your new car getting
totaled right after you buy it you'll
want to check out new car replacement
coverage let's say your car is in the
shop for repairs after you get into an
accident covered by your policy that's
when rental car reimbursement coverage

would be helpful and if you're looking
to be as protected as possible there are
even more optional coverages to choose
from so to recap there are several kinds
of auto insurance coverage you can
select including liability coverage
collision coverage comprehensive
coverage uninsured and underinsured
motorist coverage medical payments
coverage personal injury protection new

car replacement coverage rental car reimbursement and more

getting the right car insurance is a bit
more involved in finding the lowest
price it's important that you get the
right coverage for your situation and
first you need to understand what's
available there are five main categories
or types of auto insurance coverage
let's go through them liability coverage
is the most common because almost every state requires you to carry some minimum amount in order to drive legally

liability coverage pays for the damage
you caused in an accident when you are
at fault

specifically liability coverage will pay
for bodily injuries and property damage
of others
remember that liability insurance does
not cover any of your damages it
protects others from damage you caused
and also protects you financially
without it you can be on the hook for
the entire cost of an accident
out-of-pocket collision coverage is the
second most common type of car insurance
coverage it will pay for damages to your
car from an accident even if you were at
fault as the name implies collision
coverage pays for damage incurred when

you're driving and collide with another
object no losses from non crash stuff
like that or weather damage are not
covered by your collision insurance for
those things you'll need something
comprehensive coverage kicks in to cover
losses that are totally out of your
control like collision coverage
comprehensive coverage is optional it
will protect you from losses due to fire
vandalism theft hitting an animal or
damage caused by certain natural
disasters but comprehensive coverage
won't cover everything for example most
policies will not cover damage due to
freezing even though it's
weather-related comprehensive coverage
usually doesn't cover breakdowns either
you should find out what is excluded
before purchasing comprehensive coverage
is often more attractive to drivers of a
new or expensive vehicle some lenders
may even require comprehensive coverage
as a condition of financing or vehicle
to recap we've gone over liability
insurance which covers damage you do to
others collision insurance which covers
crash related damages to your car
and comprehensive insurance which covers
certain unpredictable damages to your
car but what about injuries suffered by
you or your passengers if you weren't at
the other drivers liability coverage
should pay for your damages but you can
purchase your own medical coverage for
additional protection medical coverage
is usually optional but certain no-fault
states will require you to buy a form of
it called personal injury protection the
personal injury protection is also known
as no-fault insurance because like
medical coverage it will pay the costs
of treating your injuries regardless of
who is at fault in impacts
finally uninsured or underinsured
motorist coverage will protect you
against the risk of being hit by an
uninsured or underinsured driver it's
estimated that almost 15% of American
drivers do not carry the legal minimum
amount of car insurance as required by
their state if you are hit by one of
these people you won't be able to
collect from a liability policy they
don't have uninsured motorist coverage
will pay for your medical expenses and
lost wages many states now require
uninsured motorist coverage for bodily
injury but you might have the option to
purchase it for property damage as well
underinsured coverage kicks in when your
head and your damages and expenses
exceed the limits of the at fault
drivers liability coverage when you're
shopping for an auto insurance policy
make sure you know exactly what you're
getting and why find out what is covered
what is excluded what you need to stay
legal and what you need to stay
protected financially
road-test past time to drive off into
the sunset right not quite
first there's the auto insurance to sort
out and when you're a young driver
getting on the road for the first time
it can be pretty tricky to find an
affordable policy the fact is as a whole
young drivers have more accident
so insurers charge more because of the
higher risk but are all young drivers
really the same at ? Our ingenie we don't
think so we believe you should pay based
on how you actually drive not how the
statistics say you might drive so that's
what we do we give you savings for being
a good driver and just so it's
absolutely fair those who don't drive
well could see their billing increase
how does it work at first we send you our
ingenie smart box to install in your
car this collects data on things like
speed braking accelerating and cornering
we then build up an accurate picture of
your driving style so you can understand
the kind of driver you are we're not
that interested in where you were last
Tuesday 2:00 in the morning we're
interested in how you were driving we
focus on the trends and patterns in your
driving but simply how you use the
pedals and steering wheel every 10 days
we send you feedback through the
ingenie mobile app letting you know where you're
doing well and where you might need to
improve we'll also update your driving
score out of 100 and tell you whether
you're on track to save and how much it
could be rather than having to wait 12
months like with traditional insurance
your billing is reviewed every three
months and they keeping driving well
you'll get money off that's the really
great part you're in control
the better you drive the better the same
up to 25 percent off by the end of the
year sounds good right well there's more
we also give you an extra discount at
the end of the year if you've driven
really well so being a young driver
doesn't have to mean expensive insurance
with practical advice to help improve
your driving we're on your side
with ingenie driving well means paying
less get your quote now and see how much
you could save
next time you start planning your
getaway be sure to keep these helpful
tips in mind so that you can decide the
best way to handle insurance coverage on
your rental car ask the rental car
company about their terms ahead of time
so you know your financial
responsibilities in the event of a loss
be sure to inspect the vehicle before
leaving the lot and no any damage in
your rental agreement so you're not
stuck paying for someone else's mistake
if you prefer to rely on your own
personal insurance policy as coverage
carry a copy of it with you on your trip
both as proof of insurance and as a
handy source of the terms of coverage
most importantly contact your
independent insurance agent they can
guide you and making sure your rental
vehicle is properly insured so you can
travel you

Rental Car Insurance Explained

When renting a car, the rental company will typically ask if you’d like to purchase insurance coverage for the vehicle.
It’s at this point when you have to ask yourself a question: Do my personal insurance policies provide coverage
Rental Car Insurance Explained

purchase insurance through the rental car agency?

All though standard auto insurance policies may extend to rented vehicles,
you should never assume you are protected.

Examining your own auto insurance policy will
show you the types of coverage you already possess and where additional coverage may be needed.

Since auto policies differ, it’s a good rule of thumb to contact your insurance agent
so they can help you navigate your policy and determine if you have the appropriate amount of coverage when renting a vehicle.

When deciding whether or not your personal insurance will cover your rental vehicle,
there are a few different coverages you should have. If you answer yes to all of the following questions,

you may not need to purchase additional coverage:

Do you have liability,
collision or comprehensive car insurance? Liability,

collision and comprehensive insurance are the three main coverage options available when purchasing car insurance.

All though it is not always required to purchase all three coverages, 

they can optimize your protection in the event of an accident.

Does your policy cover administrative fees, 

loss of use or towing charges?
It’s always a good idea to check see whether your insurance company pays for—or provides a rider for—additional fees associated with rental cars.

This coverage can be helpful if a car you rent is lost, stolen or damaged.

Do you have a renters or homeowners policy
that will cover your personal belongings if lost or damaged?

Your homeowners or renters insurance policy covers your personal belongings from theft,
fire or vandalism within your home.

Policies often include off-premises coverage that can extend your coverage to outside your residence. Therefore,

if personal belongings in your
vehicle are stolen or damaged,

your homeowners or renters insurance policy may be able to cover a percentage of your losses.

Not all insurance carriers will extend coverage to protect personal belongings within your vehicle—always check with your agent to see what your renters or homeowners policy covers.

Car rental companies provide additional coverage that is often used to supplement insurance
you already possess.

Rental car agencies offer four different coverage options:

1. Supplemental liability insurance:
Most car rental companies need to have the minimum amount of liability coverage required by the
state, but oftentimes it isn’t an adequate amount of coverage.

If you have a personal car insurance policy with a high liability limit, you may not need additional protection.

2. Loss Damage Waiver (LDW)/Collision Damage Waiver (CDW): This is not insurance per se,

but rather a document that can alleviate your financial responsibility should your rental vehicle be damaged or stolen.

This also includes loss of use coverage ifnthe rental company charges you for the amount of time the car could not be used while being repaired,

as well as other administrative
fees the car rental agency assesses.

The LDW may become void if the incident occurred from the driver of the rented vehicle exhibiting
reckless behavior,

speeding or the vehicle being driven on unpaved roads.

3. Personal accident insurance:
This will cover the driver and any passengers within the rented vehicle for any medical bills caused by a car crash.

This coverage is useful if you do not already have health insurance or personal injury protection insurance.

4. Personal effects coverage:
This covers any personal belongings that are stolen from the rental vehicle.

If you already have renters or homeowners insurance, this may already be covered under your policy.

The coverages offered are oftentimes the same as what you already have for your personal insurance policy.

Again, to avoid paying for coverage you already have,

 review your policy before renting a vehicle.

Many reputable credit card companies offer rental insurance to their customers.

To utilize this secondary form of coverage,

you must put the total amount of the car rental on your credit card In many cases,

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credit card companies will also require you to deny any insurance offered by the car rental agency in order to access
their coverage.

In the event that your rental car is in a covered incident,

the credit card company will help cover costs of damage or theft up to a certain dollar amount.

Various rental car fees can be covered by your credit card, 

but this can vary by provider. Before purchasing any additional coverage through the car rental facility,
call your credit card company to see if your card offers car rental insurance.

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Since most credit card rental insurance is classified as a secondary form of coverage,

you may need to rely on your personal auto insurance coverage first.

Deciding on your rental car coverage can be a tricky endeavor. Before purchasing any extra coverage,
talk to your insurance agent about your personal auto insurance policy and whether you may need to purchase any additional insurance. No one wants to pay more for their auto insurance,and you shouldn’t have to.
If you have any questions or are unsure if rental vehicles are covered under your policy,

How can you save in insurance premium

about auto insurance

today we will discuss about auto insurance as per Vehicles Insurance act, every person who own a vehicle, 
renew insurance online or through an agent is liable get insured you all either buy or renew insurance online or through an agent

you should take note of one thing, after the expiry of 1st year's insurance but before the renewal that, 

if you haven't filed or claimed any insurance claim during the previous year then insurance company offers a discount in next year's renewal premium which is called No Claim Bonus or NCB and the rate of this NCB can be ranges from 20% to 50% this NCB applies only on "Own Damage Premium" cover

auto insurance has types of covers
auto insurance has two types of covers

1st is own damage cover
this insurance covers damages arises due to fire, explosion, earthquakes, floods and theft or terrorism.

2nd is third party cover
third party insurance is a statutory requirement and in this cover, 

all kind of physical injury or property damages caused to third party by you, 

is covered means it covers your legal liability

now if you only have taken third party insurance then you won't be able to get NCB now, 

lets check the slabs of NCB after 1 claim free year you will be eligible to get NCB@20% on Own Damage Premium and you can get upto 50% NCB subject to prior to that previous 4 years you haven't claimed or filed insurance

let's take an example..
assume you have a car and its IDV after 1st year is Rs.4 lakh and its own damage premium comes to Rs.12000 and @20% you can save Rs.2400 provided you haven't filed or claimed any claim in the previous year here i would like to tell you one more thing that as and when you renew your vehicles insurance

please keep in mind that how much IDV you are going to get against the premium you are paying

assume you have a 2 wheeler for which renewal premium is Rs.900 approx and against that you are going to get only Rs.19000 IDV but it might be possible that some other company in lieu of extra Rs.40-50, offers more IDV cover and, 

now if you too take care of such small things then you can save some money out of the renewal's insurance
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