How useful is an insurance comparison site?

Motor insurance has become necessary as road traffic collisions are non-preventable. In India, vehicle insurance has been made mandatory by the government. You cannot venture out with your automobile on the roads without a protection aid. In the event of a road accident, you might have to face monetary setbacks if all your savings goes into paying the car repair bills. Most importantly, you have to go through major harassment if your vehicle gets severely damaged after the accident. A comprehensive auto insurance policy is indispensable for covering the third party damages as well as own-damages. You might drive recklessly on the road and clash with another motor. To avoid getting involved in a legal case, you should purchase the third party cover in advance. However, the insured does not get any benefits as the coverage is designed for protection of the third party property. Hence, you need a comprehensive auto indemnity plan.

An appropriate automobile insurance policy cannot be bought simply from any insurer without conducting a thorough research. Several new vehicle owners have a lack of understanding regarding the various terminologies used in a standard policy. In order to know the basics of a standard motor insurance plan, take the help of the internet and edify yourself about it so that you do not end up purchasing a wrong policy and suffer unnecessarily. There are many comparison tools that could used to buy a cheaper auto insurance policy. The various coverages as well as clauses have to be understood by the buyer. While comparing one policy with the other, aspects like premium, benefits and add-ons are usually taken into account. In a few minutes, you will have a clear idea about the different policies displayed by the insurance companies. You need to understand the mode of purchasing and renewing an auto insurance cover.

Direct contact with the insurance agent is the traditional way of purchasing an insurance cover. Although it is fine to have a detailed discussion with the insurance provider, you might lose the opportunity to check various other plans provided by the different insurance companies. Therefore, you need to switch to new method which is being followed by several prospective auto insurance purchasers. An array of insurance broking solution providers has started their own comparison portals for the buyers. You are presented with comparison tools such as premium calculator to select the cheapest policy. The insurance companies provide quotes that enable effective comparison online.

With the aid of a premium calculator, you can get the premium rate for your vehicle. This way, you can narrow down the number of insurance policies and find out a cost-effective plan. All the limitations and other details of the insurance cover can be obtained online without the trouble of following up with the insurance agent. Thus, you get a precise idea about the structure of your insurance policy with the appropriate benefits and premium rate. However, only visit a genuine comparison site which is linked with the topnotch providers of motor insurance India.     

Different type of insurance policies in India

A person who is not conversant regarding different type of insurance policies in India may confuse the functioning of two different insurance. For instance, for them, taking home insurance and a business insurance would seem almost the same thing. However, one must be vigilant enough to understand that insuring your business is definitely not similar to insuring your house. This is because every business is distinctive and certainly only a customized insurance package can meet your business requirements alongside providing highest level of protection at every instance of life. First and foremost, you need to comprehend the types of business insurance available in India that can provide good protection. There are two types of business insurance, namely, property and liability insurance.

Property insurance: As the name suggests, property insurance provides protection to the assets of your business (equipments, machines, building, etc) from unforeseen destruction or damage. Now, suppose your business is home-based then despite having a home insurance it would be advised to secure your business assets with a different contents insurance as home insurance is not liable to cover business tools.

Contents insurance:  This type of insurance is designed to provide protection to your business equipment in the event of damaging events like fire, flood, or burglary. In order to find out the extent of contents insurance needed, you would need to create a list of all your items and business assets mentioning their values in terms of Indian Rupees. Afterwards, you can make a decision about the assets that actually needs to be insured, and as per the value of the asset the insurance premium would be determined. In some cases, a particular asset is left uninsured as it does not justify the price of the premium. For some other assets, on the other hand, it would be worth to pay premium for ultimate protection. Some expensive equipment like computer if gets damaged accidentally or gets stolen would be difficult to replace them. Hence, it is always recommended to insure expensive equipments.

Liability insurance: This type of insurance is especially advised for small-sized business. However, it is beneficial for every business regardless of its size since it protects a business from any kind of legal action.

Employee insurance:  if you are concerned about the security of the employees of your company then get employee insurance.

General liability insurance: The motive of this particular insurance is to provide coverage to your business from responsibility arising from carelessness that can caused any kind of physical damage to others. For example, if someone gets physically injured while using any of your product or service then it will protect your business from any kind of legal liability. This is needed because all legal expenses and out of court settlement can push your business into sudden bankruptcy. Always make sure that your general liability insurance policy takes care of the product liability if you sell business goods. If this is not covered in your general liability insurance policy, you must include customized liability insurance to your package.

Professional liability insurance: Professionals like doctor, realtor, lawyer, etc must consider having professional liability insurance. For certain type of professionals, it is a mandatory insurance.

Small business may need some other types of business insurance such as business disability insurance, key person insurance and business interruption insurance. If, at the end of this article, knowing about all these insurance policies is making you more puzzled to buy health insurance or business insurance, it is better to make an appointment with an expert and professional insurance advisor or call the customer support of a reputed insurance broking company.

Find ways to minimize your existing level of risk

With rising medical costs in India, it is gradually becoming compulsory to get a health cover for the entire family. In this way, you can minimize the kind of distress associated with medical bills. Generally, the common public gets puzzled while choosing the best health insurance for the family. Customers now are looking for affordable floater health insurance plans since with an increasing age the likelihood of falling sick also increases, and consequently you must always compare health care plans before picking up one.

In India, the health insurance is available in two designs – a personal Health Policy and Family Floater Plan. The former is a separate health insurance policy for every family member. Family Floater Plan, on the other hand, covers the entire family under one plan. You can incorporate yourself, parents, spouse, and children in this plan and get a complete medical insurance coverage. This type of policy permits one cover amount for the complete family, helping you to resolve the predicament of covering kids at high amount since they are usually at low risk.  In order to find out the best family floater health insurance plans as per your expectations, you must bear in mind some parameters. 

In India, the Family health insurance plans not only make it trouble-free for the customer to deal with one policy but also offers him a complete family medical insurance with benefits like:

·         As opposed to an individual plan, a family floater policy can be managed and tracked easily. For instance, during the renewal stage you would have to remember just one date instead of two or three dates. Also, you get a complete health cover for family without any complication.

·         Under the Section 80D you get an income tax benefit with family floater policy

·         Most family floater plans are known for proving free of cost health check up for senior citizens who are insured under the plan. This is naturally helpful in minimizing the overall medical cost.

·         On any instance if you want to add a new family member in your family floater plan then you can do it easily. However, with an individual cover you would have to take a new policy whenever there is a fresh addition to the family. Also, if a senior member of the family dies, other members can carry on with the floater without any obstruction in the health cover features.

·         Young couples can avail useful features like maternity and baby cover.


·         Nowadays most insurers offer the option to comprise parent in laws with some negligible cost, making it the ideal health insurance policy for both the families.

When you think of purchasing a Family floater health policy always give priority to coverage for pre existing diseases, insurance for new born baby and exclusions in the first month of the policy. If you want to compare insurance quotes from leading insurers in India then it is better to visit a reliable insurance comparison website like GIBL online.  

When does the need of health care increases?

Parents put their soul in bringing us up. It is their honest toiling that has turned us what we are today. Naturally, it is now our turn to take care of them. Apart from providing them a financially smooth life, we need to take care of their health issues as well. Good health is the only tool that paves way for a blissful life as it nurtures not only a peaceful mind, but also gifts you a life of freedom wherein you can focus on other aspects of life. The best way to take care of your parent’s health is by buying a health insurance policy for them. 

In old age, individuals are more susceptible to health related abnormalities. Hence, it becomes more important for senior citizens to get covered under a good health insurance. In India, you will come across several health insurance policies that caters to the need of parents, making sure that the life of our elders are free of any kind of health complications. Under the protection of a health insurance policy, they can seek good quality treatment even in the later stages of life. When you buy a health insurance for your parents, you actually gift them a secured and peaceful life, which is much beyond any kind of investment. They continue to enjoy the financial liberty and harmony in their lives. 

The need of health care insurance generally increases when the ratio of health risks goes higher. The health care expenses are not just limited to planned treatment; on many occasions, a person has to undergo a sudden medical treatment due to unanticipated factors. Some emergency incidents call for immediate medical action. Before the situation slip out of hands, you need to take the right move and ensure that the top most treatment is selected for your loved one. Even a little ignorance or the failure to arrange money on time can jeopardize the health of the injured person. It is, therefore vital to give health insurance a serious thought and select an ideal coverage plan as far as health is concerned. 

Protection offered by a health insurance

When faced with serious health challenges, health insurance is the best tool to survive those adverse situations. It gives a suitable financial coverage that relieves the insured person from the saddle of medical expenses. As a result, the family members get a huge mental relief and they are able to focus on other needs properly. A relaxed and peaceful mind is more likely to take wise decisions. 

In this way, the health insurance providers in India have opened the doors of new hope for common public. Today, the insurance market is flooded with different health insurance policies that can be customized to compare insurance as per the income level and age of the person. To ensure the best health coverage for your parents, talk to a licensed and experienced insurance broking company as they have all the latest insurance details at the tip of their finger.