Insurance is a contract, represented by a policy, in which a policyholder receives financial protection or reimbursement against losses from an insurance company. The company pools clients’ risks to make payments more affordable for the insured. Most people have some insurance: for their car, their house, their healthcare, or their life.
Insurance policies hedge against financial losses resulting from accidents, injury, or property damage. Insurance also helps cover costs associated with liability (legal responsibility) for damage or injury caused to a third party.
Many insurance policy types are available, and virtually any individual or business can find an insurance company willing to insure them—for a price. Common personal insurance policy types are auto, health, homeowners, and life insurance. Most individuals in the United States have at least one of these types of insurance, and car insurance is required by state law.
Understanding how insurance works can help you choose a policy. For instance, comprehensive coverage may or may not be the right type of auto insurance for you. Three components of any insurance type are the premium, policy limit, and deductible.
Health Insurance
Health insurance or medical insurance plans for individuals is a vital financial tool that covers the cost of medical treatment for injuries, illnesses, and more. From basic hospitalisation coverage to comprehensive policies with extra benefits like preventive medical health care, and death benefits, there’s a variety of health insurance schemes available. Read more on What is health insurance?
Finding the right plan ensures you and your family stay financially protected when unexpected illness or injury strikes. But why stop there? OUR Platinum Health Plans take it up a notch! With zero deductions on claims, and fantastic built-in add-ons, we provide an extra cushion during medical emergencies.
Car Insurance
Car insurance, also referred to as motor or auto insurance, is a type of insurance policy that provides you financial protection if your vehicle suffers damages due to accidents, natural disasters or thefts.
With a car insurance policy, you will be financially secured in case of any losses to your vehicle due to an unfortunate event. Apart from that, it also covers third-party liabilities and ensures that you comply with the law of the land.
Whether you are looking to buy a policy to comply with the legal norms or looking for comprehensive coverage, Car Insurance has it all! We offer different types of insurance policies, including third-party, comprehensive, own-damage car insurance, and personal accident cover online at incredibly low premiums.
Bike Insurance
Bike insurance or two-wheeler insurance is an insurance policy that covers you against damages to your two-wheeler due to accidents, natural/man-made disasters, fire, and theft. The policy also provides coverage against third-party liabilities such as damage to another person’s vehicle/property or injuries/death of a third party caused due to the insured two-wheeler. You can buy insurance for 2 wheelers to cover motorcycles, scooters, mopeds, etc.
When you buy bike insurance online through our smartphone app or website, you can choose from different bike insurance plans based on your requirements and insure your bike within minutes. Also, you get instant two-wheeler insurance quotes to know the premium for the plan you purchase. In the case of a Comprehensive Policy, you can choose a suitable Insured Declared Value (sum insured) from the given range.
Travel Insurance
Travel Insurance is an insurance policy that provides financial coverage against the risks or losses occurring while travelling. Buying such a policy helps to secure your journeys against a wide range of potential emergencies. You can compare policy features and select the best-suited plan based on where you are going and the frequency with which you travel.
Many insurers offer the convenience of buying Travel Insurance online with the ability to customise plans as per your unique trip requirements. There’s a wide range of coverages, policy tenure, and add-ons to choose from.
Group Health Insurance
Group Health Insurance is an insurance policy provided to a group of employees or members working for a company or an organisation. Hence, it is also known as Employee Health Insurance. Here, the employer usually pays the entire premium to offer health insurance as an employee benefit.
With this policy, employees can receive financial security during medical uncertainties, and employers can receive tax benefits on the paid premium. A Group Health Insurance Plan can also provide coverage for an employee’s family members (parents, spouse, dependent children).
After the initial COVID-19 lockdown, the Indian Ministry of Home Affairs mandated all industrial and commercial establishments, workplaces and offices to offer Group Medical Insurance coverage to their employees (as per the order issued by IRDAI).
