Auto Insurance

Auto insurance is mandatory for all new vehicles, be it for commercial or personal use. Insurance Companies are coming out with comprehensive policies for its customers. They are also tying up with leading automobile manufacturers for a swift insurance process. An automobile may be insured against loss or damage by accident, fire, burglary, while in transit, third party accident etc. Auto insurance companies come out with unique plans for four wheelers, two wheelers, commercial vehicles.

Types Of Auto Insurance Available:

• Two Wheeler Insurance
• Car Insurance
• Commercial Vehicle Insurance

Calculation of Auto Insurance Amount/Premium:

Insurance companies are providing value- added service to its client by offering them instant auto quotes. Auto premium is determined by a number of factors like, make of the vehicle, year of manufacture, place of registration, current showroom price of the vehicle and model of the vehicle. It also depends whether the client is individual or corporate etc. The amount of premium increases with the increase in the price of the vehicle. Companies renew policies after expiry. A discount on premium is sometimes provided to existing clients.

Commercial Insurance

Organizations need to reduce both internal and external risks. They also require to safeguard their business against unforeseen circumstances/events. Insurance companies are catering to small, medium and large scale companies to minimize their risk. Good Insurance advice can save you time, money and worry. Leading insurance companies are coming out with 'Commercial Insurance Questionnaire' to ascertain the insurance needs of your commercial. Insurance companies undertake complex procedure to evaluate and review the impact of any change in commercial activity or new ventures.

Types Of Commercial Insurance Available:

• Agriculture Insurance
• Fire Insurance
• Industrial Insurance
• Marine Insurance
• Shop Insurance

Calculation of Commercial Insurance Amount/Premium:

Insurance companies keep quite a few factors in mind while calculating the premium amount to be paid by the client. Nature of business, size of the organization, number of employees, the type of industry, the organization is a part of, annual turnover of business etc. The premium is paid on a monthly/quarterly/half yearly/ yearly basis, as the case may be. Companies also provide with instant commercial insurance quotes for the ease of their customers.

Home Insurance

Your home is a fruit of your labour, it is your pride and provides you with immense joy. Insurance companies have come out with unique home insurance policies to protect it from various natural and man made disasters. Home insurance protects your house against burglaries, theft, fire, earthquake, explosion etc.

Calculation of Home Insurance Amount/Premium:

Companies provide its customers with instant home insurance quotes. The amount of home insurance cover needed is calculated keeping a number of factors in mind. Area of house (in sq.ft.) , location of property, approximate rate of construction (in Rs./sq.ft.) are generally considered by insurance companies. A property more than 50 years old is not insured. Another point considered while insuring a home is that companies only consider 'Pukka/Permanent' construction. Keeping the above factors in mind, an individual has to pay the premium every month/quarter/six months according to the sum insured.

Insurance companies come out with different home insurance policies to suit the unique needs of its customers. While some policies have a standard/fixed cover, others are flexible package, including a basket of coverages. The premium for such covers is higher than the standard cover. This is because the risk of the company insuring is more.

Travel Insurance

A travel insurance policy is possibly the best way to protect you against medical costs through illness or injury, against theft or loss of possessions and other accidents that may occur during your domestic/international / travels. Attractive plans for student travel are also available.

Trip Interruption Insurance:

Covers you during your trip. If an injury, illness or other event prevents you from continuing a trip you've started, trip interruption coverage will reimburse you for expenses you incur because of it. Some policies also reimburse you for any unused prepaid expenses.

Trip Cancellation Insurance:

There are three major types of trip-cancellation insurance: one, in the event that you pre-pay a cruise or tour that gets cancelled, and you can't get your money back; a second when you or someone in your family gets sick or dies, and you can't travel (but beware that you may not be covered for a pre-existing condition); and a third, when bad weather makes travel impossible.

Trip cancellation insurance covers you for the period of time before you travel.

Lost-Luggage Insurance:

In this , insurance company pays you money for the baggage lost during travelling. You will only be reimbursed for what you lost, no more.

Calculation of Travel Insurance Amount/Premium:

The amount of premium to be paid for travel insurance cover depends on a number of factors like, the numbers of days of travel, whether travelling in domestic country or overseas, if the insured is an individual or has taken a family plan. A higher amount will ensure a higher coverage.