Health Insurance: Here, the insurance company provides protection to an individual in case of any medical contingencies. The policy covers hospitalization expenses, pre-and post-care, daycare procedures, daily hospital cash, alternative treatment, maternity expenses and so on. The health insurance premium is charged on the basis of the insured’s age, lifestyle habits, pre-existing diseases, coverage type, etc. Travel Insurance: This policy covers the financial liabilities related to your travel within India and abroad. These financial emergencies might occur due to medical or non-medical casualties such as loss of baggage or passport, medical issues, accidental death, bodily injuries due to adventure sports. The policy duration of the travel insurance policy is generally short-term which is 180 days at the maximum for one-time. Motor Insurance: A motor insurance in India is mandatory to have, without which one cannot drive on Indian roads. Motor insurance policies are divided into two types such as third-party policy and comprehensive policy. The former is a mandatory policy which provides legal liabilities when your vehicle damages any third-party such as a public property, person or third-party vehicle. However, the comprehensive policy covers both third-party liabilities as well as own damages of your car which might arise due to events such as accident, theft or fire. Other Miscellaneous Policies: Other than the above three types, the general insurers also provide Insurance for pet dog, home, marine, commercial purpose. There are also insurance policies against your appliances, mobile, bicycle.
The policyholder should have the clarity as to which general insurance plans they should consider as per their needs and requirements. One must know when to pick family health insurance, car insurance, home insurance or a travel insurance policy. Once you know which type of insurance to pick, the next step is to find that ideal plan which is able to fulfill all your needs and requirements. Compare the best plans from various insurance providers and select the best for you in terms of coverage, benefits and premium quotes. Select the various add-ons carefully and wisely. As each add-on comes with an extra premium cost. Choose the right number of add-ons which enhances the scope of coverage and also provides you the best protection. Before selecting a general insurance plan, always check the claim settlement ratio which refers to the number of claims settled by the insurance company in a given financial year. Find out the various discounts such as no-claim bonus, long-term discount or online discounts before selecting a general insurance plan.
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