GENERAL INSURANCE

General insurance covers all Risks other than life, like Motor, Industries, Home, Transit of Goods, Personal Accident, Aviation and Like Risks.

Travel Insurance

Travel insurance is insurance that is intended to cover medical expenses, trip cancellation, lost luggage, flight accident and other losses incurred while traveling, either internationally or domestically. Travel insurance can usually be arranged at the time of the booking of a trip to cover exactly the duration of that trip, or a "multi-trip" policy can cover an unlimited number of trips within a set time frame. There are many travel insurance policies available in the market place, but care must be taken of what events are covered by each policy, and what exclusions, exceptions and limits apply, besides other issues.

Domestic Travel Insurance: The people travelling within the geographical borders of India may take this plan. It protects individuals as well as families travelling within the Indian states from unforeseen financial emergencies. It provides coverage including medical cover, loss of baggage and personal accident cover amongst others.

International Travel Insurance: Individuals and families travelling overseas may take this plan. It provides a wide range of coverage including medical expenses, dental expenses, financial cash assistance, flight delays, loss of passport, personal liability, loss or delay check-in baggage and hijack distress allowance. Several insurers also offer home insurance to the traveler’s house back in India as a part of this insurance plan.

Student Travel Insurance: This type of plan is customized for students travelling abroad to study. It comes with an extended validity of up to 2 years. Apart from the basic coverage of overseas insurance, it also provides the students with covers including sponsor protection, study interruption, two-way compassionate visit and bail bond amongst others.

Transit Insurance

Transit insurance is a policy that covers business goods or personal belongings while they're being moved from the place of loading to the stated destination over land by a certain transport mode.

This type of insurance covers the packing and unpacking, loading or offloading, transportation and storage of goods during the entire move. It also covers the damage or loss of the goods while in transit due to mishandling or other forms of damage such as accidents, explosions, impact fires, theft, and malicious damage. Transit insurance is useful to people who regularly transport goods over large or small distances, especially couriers.

Home Insurance

Home insurance, also commonly called homeowner's insurance, is a type of property insurance that covers a private residence. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of use (additional living expenses), or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory. Additionally, homeowner's insurance provides financial protection against disasters. A standard home insurance policy insures the home itself along with the things kept inside.

Shop Insurance

Shop insurance is a policy that covers Shop’s property and its contents within. Shop Insurance covers fire and natural calamities such as floods and earthquake through Standard Fire & Special Perils Policy. Shops are always at a risk of burglary; So Burglary Policy is also a part of Shop Insurance Policy. Combination of these two policies for Shop Insurance helps to protect from fire and natural calamities as well as damages and losses that occurs due to burglary.

Corporate Insurance

Corporate insurance is a policy that covers different types of risks which a large or small business entity may face. A corporate insurance policy is imperative to plan the financial future of your business set-up and to protect it from the sudden financial outburst. Corporate Insurance or SME Insurance is specially designed for companies, which ensure optimum protection to the most valuable assets. Whether it is fire insurance, liability against property damage or services offered, group policies to the employees or insuring other valuable machinery in the organization, corporate insurance plays an imperative role.

Group Insurance

Group insurance is an insurance that covers a group of people, for example the members of a society or professional association, or the employees of a particular employer for the purpose of taking insurance. Group coverage can help to reduce the problem of adverse selection by creating a pool of people eligible to purchase insurance who belong to the group for reasons other than the wish to buy insurance, which might be because they are a worse than average risk. Grouping individuals together allows insurance companies to give lower rates to companies, "Providing large volume of business to insurance companies gives us greater bargaining power for clients, resulting in cheaper group rates."

Group insurance may offer life insurance, health insurance, and/or some other types of personal insurance.

Group Mediclaim Insurance

Group Mediclaim Insurance is a policy that provides risk coverage to the people who belong to a specific group. Generally, this policy is given by employers to employees. Group health insurance policies come in different variations and every organization can customize a plan according to the requirements of its employees. There are some group health insurance plans that cover the families of the insured people as well. So, it entirely depends upon the organization what kind of group health insurance plan it selects. Group Health Insurance plans are generally uniform in nature, offering the same benefits to all employees or members of the group. The biggest advantage of Group Health Insurance is that it provides coverage for pre-existing disease from day 1(one).

Fire Insurance

Fire insurance covers damage or loss to a property because of fire. It is a specific form of insurance in addition to homeowner’s or property insurance, and it covers the cost of replacement and repair or reconstruction above what the property insurance policy covers. Fire insurance policies cover damage to the property, and may also cover damage to nearby structures, personal property and costs because of not having the capacity to live in or use the property if damages occur.

The policy typically includes additional coverage against smoke or water damage due to a fire. A fire insurance policy is usually set up for one year. The policyholder may renew the policy according to the terms of the policy.

Marine Insurance

Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination. Cargo insurance is a sub-branch of marine insurance, though Marine also includes Onshore and Offshore exposed property, (container terminals, ports, oil platforms, pipelines), Hull, Marine Casualty, and Marine Liability. When goods are transported by mail or courier, shipping insurance is used instead.

Liability Insurance

Liability insurance is a policy that offers protection to businesses and individuals from risk that they may be held legally or sued for negligence, malpractice or injury. This insurance policy protects the insured from legal payouts and costs for which the policyholder is deemed to be responsible. There are different types of liability insurance policies, some of them are mentioned below:

• Commercial General Liability (CGL) Policy

• Directors and Officers Liability Insurance

• Professional Indemnity Insurance

• Cyber Risk Insurance

• Commercial Crime Insurance

• Carrier Legal Liability Insurance

• Product Liability Insurance

• Trade Credit Insurance

Engineering Insurance

Engineering insurance refers to the insurance that provides economic safeguard to the risks faced by the ongoing construction project, installation project, and machines and equipment in project operation. Product categories: Depending on the project, it can be divided into construction project all risks insurance and installation project all risks insurance; depending on the attribute of the object, it can be divided into project all risks insurance, and machinery breakdown insurance.

Insurance Period: the same as the construction period of the project.

Machinery & Business Interruption Insurance

Machinery and Business Interruption insurance is a policy used to protect against unexpected breakdown or loss of equipment as well as the option to cover the financial implications to your business.

This policy provides cover for financial loss suffered consequence from a machinery breakdown. This policy provides cover for the loss of profits sustained as a result of a business interruption caused by material damage indemnifiable under the Machinery Breakdown Insurance. Duration of cover is for one year.

Business Interruption Insurance is insurance coverage that replaces income lost in the event that business is halted for some reason, such as a fire or a natural disaster. This type of insurance also covers operating expenses, a move to a temporary location if necessary, payroll, taxes, and loan payments.

Machinery Breakdown (MBD) Insurance policy is an ideal cover for all kinds of plant and machinery, to cover cost of repairs or replacement of damaged parts as a result of unforeseen and sudden physical damages.

Computer & Electronic Equipment Insurance

In this modern age all businesses rely on computer and electronic equipment, should this be lost or damaged the consequences can have a huge impact and disrupt day to day operations. Electronic Equipment Insurance Policy is the safeguard you need to cover the assets so vital to keeping your business functioning smoothly.

Electronic Equipment Insurance covers accidental, unforeseen and sudden physical loss or damage to electronic equipment (Including system software) against sudden & unforeseen physical damage by any cause or peril those are not excluded under the Policy.

Important Note: - The contents available on this site is for General awareness/Knowledge only. The actual canvases depend upon the cover opted for and subject to terms and condition of the policy issued by respective Insurance Companies.