Car Depreciation Rate has a high impact on car insurance premium during renewal. Even car/bike parts have a specific formula for calculating depreciation, that can affect your contribution in case of a claim. Know how Car Depreciation Rate is calculated and how it affects IDV of your car in each year.
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No Claim Bonus (NCB) for Car/Bike/Two-wheeler insurance is a great feature when buying motor insurance. When accumulated, it offers discounts as high as 50% on OD (Own Damage) premium, and this can be significant for high value vehicles. Not just that this is even transferable when you sell of your old car and buy a new one. Here’s everything you will need to know about NCB when buying Car Insurance in India.
Stolen, damaged or lost baggage, misplaced passport, missed flight – there are hundreds of things that can go wrong when you are on an international or domestic trip. Unfortunately, there are numerous cases where travelers have been too callous in their travel policy purchase leading to eventual claim denial. Ranging from simple errors to plain ignorance, the value of some of these denied claims can run into lakhs of rupees at times. But it is as easy to ensure that a travel insurance claim is not rejected, as it is to get denied if you are not careful. Here’s what you can do.
The benefits of Deductible and Voluntary Deductible can be very useful to reduce you Travel Insurance, Health Insurance, Car Insurance or Bike Insurance premium. Especially if the probability of making a claim is low, you can use it effectively to bring down premium over and above other discounts. Here, the concepts are explained with suitable illustrations for clarity.
Most of us do our car insurance renewal (or buy a new one) simply based on convenience – either through an agent, the auto dealer or going online and buying the cheapest. One thing that can help you take a better decision is knowing the Claims Settlement Ratio for Car Insurance.
Here’s the detailed analysis that will make your car insurance renewal policy worth every rupee you pay.
80% of Claims coming to life insurance companies from policyholders aged less than 45 years, are because of accidental deaths. And the trend is worsening. Whatever the precautions you may take yourself, circumstances can sometimes be brutal. Accidental Death Benefit Rider is very inexpensive and gives good additional protection from accidental death with your term insurance plan. Here are more reasons you should go for it.