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Car Insurance Renewal Online
What is renew the policy?

Renewal, in the context of insurance, refers the continuation of coverage. The policyholder extends their contract with the insurance company to continue their current coverage for a specified period. The insurance company typically invites the policy Older to renew the policy near the end its term.

Can you renew the expired policy?

Yes you can. if your car insurance has been expired for more than 90 days, then you may lose out on your no-claim bonus benefit too. Can I renew my expired car insurance policy online? Currently, you can only initiate the renewal process by contacting insuremile online services. Or through insuremile mobile app.

What is a File claim?

An insurance claim is a formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event. The insurance company validates the claim and, once approved, issues payment to the insured or an approved interested party on behalf of the insured.

What did your claim status mean?

Your claim will be placed in ?deferred,? ?accepted,? ?denied,? or ?closed? status, depending on where it is in the process. If you?re unsure about what your claim status. Please contact your insurance company customer care.

What is Claim complaint?

If you?re not happy with the service offered by your insurance company, you have the right to complain. Why complain about an insurance company? Step 1 ? Try to resolve the complaint informally Step 2 ? Send a written complaint Step 3 ? Ask the Financial Ombudsman Service for help

Indian Insurance Buying Behavior

https://insuremile.in/tata-aig-two-wheeler-insurance/ urllinkcontent: In India, insurance is a risk management factor. This is used to manage the uncertainties of a family after a demise, injury or destruction. Insurance provides financial security to an individual after facing major risks in property, health, life and legal liability. The requirement for an insurance is a dynamic factor for every citizen of the country. The government has taken a lot of steps to ensure its highly growing population. Increase in insurance is directly proportional to the growth of the country. This is because people tend to take more risks towards growth and development when they are adequately insured. Eventually, they make way for economic development. nextrowlinkcontent

Insurance buying behavior in India

https://insuremile.in/tata-aig-two-wheeler-insurance/ urllinkcontent: Risk Analysis: In India, there are three major types of insurances: ? Life Insurance ? Health insurance ? General insurance Insurance generally is considered as a mode of savings or investment. People also buy insurance to escape from the paying of taxes. There are several insurance policies that are given for the benefit of people. They can choose the most suitable policy to protect their families. However, insurance is more like a compulsion by insurance agents. People don?t analyse if the policy would be suitable for them. It is more seen as a means of saving than a risk management tool. The savings made in insurance alone is 19.5% in India. In recent years, the savings via insurance policies has decreased due to increase in share of currency, mutual, provident and pension funds. There should be more savings done along with insurance as our country is exposed to a lot of uncertainties than in developed countries. Protection Analysis: Although it is important to take insurance policies for a life coverage, it is evident that the end benefit is not very sufficient for an average family. Still, an insurance plays a vital role in stabilizing families to a certain extent. The awareness towards having insurance is reaching the less privileged people nowadays. They get insurances with lower premium rates. The major factor for people to skip having an insurance is the level of income. Other factors leading to this are: ? Increased costs of living ? Higher rates of interest ? Growing rate of population In India, insurance is, thus, a tax saving tool that faces a great deal of competition with saving options available. This is also a great tool for hiking the GDP of our country. This summarizes the insurance buying behavior in our country. nextrowlinkcontent

What is consumables cover?

The list of consumables cover in car insurance is an exhaustive one. The most common consumable items include nuts, bolts, screws, washers, brake oil, engine oil, gearbox oil, power steering oil, radiator and AC gas, -, oil filters, wheel balancing weights, and items of similar nature.

What is PA to owner driver?

Your policy will list this as ?PA cover for owner driver?. An ?owner-driver? is the owner of the insured vehicle having a valid driving licence, according to the India Motor Tariff.

What is Tyre Protection?

It covers damage to tyres and rims as a result of blowouts, punctures and various road hazards (like driving through a pothole).

What is Towing?

Towing and labour coverage and limits are different for each carrier that offers towing and labour coverage, but typically, it pays the cost of towing your car to a repair shop when it is unable to be driven and covers a specified amount of necessary labour charges at the place of the breakdown.

What is External Accessories ? Electrical?

Electrical Accessories Wholesaler of a wide range of products which include Electrical Wiring Accessories, Electrical Accessories, Electrical Holder, Electrical Sockets and Electrical Plugs.

What are Policy services in insuremile?

It?s a process of renewing, cancelling, endorsing and renewing the expired policies, reactivating lapsed/out-of-coverage policies by remitting full or partial repayment of outstanding premiums. Termination or cancellation of an insurance policy for its cash value before maturity date or death of the insured

What is Insurance?

Insurance is a contract between an Individual or a group of individuals and an insurance company. The person who takes insurance is called ?Insured? and the person who insures is called ?Insurer?. The insured agrees to pay a premium to the insurer in exchange for compensation in case of loss of property, illness, death or damage. The premium that is paid assures the insured that he or she is financially protected. There are different types of insurance ? Car, Life, Health, travel Insurance.

What are the types of Insurance?

Life Insurance ? Life Insurance plans pays a certain amount of money (lumpsum or part) to the insured person as per the plan term or to his or her beneficiary in the event of the death of the insured. Term Plans, Income Replacement, Child Plans, Retirement Plans, Tax Saving Plans, Money-Back Plans, Monthly Income Plans, Unit Link Policy; Short Term Guarantee Plans, Systematic Investment Plans etc..? Health Insurance ? Health insurance gives coverage for the insured?s medical or hospital expenses. This assures you that you and your family will have enough money to pay for expenses if ever you get ill and are hospitalized.Types of Plans: Individual Health Plans; Family Health Plans; Senior Citizen Health Plans; Critical Illness Plans; Preventive Health Plans, Mediclaim Plans etc. Motor Insurance ? Motor Insurance provides financial security to you and your vehicle. In case of an accident involving your vehicle. The Insurance company pays for the repairs; damages to a third party etc It also covers theft or loss of vehicle, depending upon the policy. Types of Plans: Car Insurance, Two Wheeler Insurance, and Third party Insurance. General Insurance ? General Insurance will protect your movable and immovable assets and investments. It could be your house, your office, your godown, your jewellery etc. Types of General Insurance: Travel Insurance, Home Insurance, Personal Liability, Property Insurance etc.

How to choose the best Insurance Plan?

1. First, understand your requirements (future financial needs, your child?s education, marriage, or some other requirement). 2. Second, calculate how much premium you can pay every month or quarterly or half-yearly or annually. 3. See what benefits the Plan gives (each insurance company gives different benefits, so compare). 4. Decide on the tenure of the Plan. 5. See whether it is value for your hard earned money. 6. Decide the Sum Assured, the more the sum assured, the more the benefits. 7. Read the Terms and Conditions of the Plan. 8. Find out how prompt the insurance company is in settlement of claims for the plan.

Why compare insurance quotes on InsureMile platform?

1. First, you can compare Insurance Premium quotes on our platform without giving your contact details. 2. All our competitors ask for contact details and only then you can find out about Plans. 3. With your contact details, you are flooded with irritating telemarketing. 4. InsureMile not only gives you the Best Premiums, but also the Best Benefits, all simplified. 5. All transactions on InsureMile platform are digital and transparent. 6. InsureMile has the best experts in the business to guide you on Plans. 6. InsureMile respects your time and your investment

What is Motor Insurance policy?

Motor insurance is mandatory for the vehicles that are driving on the road. Its mission is to provide comprehensive protection against damage or loss from natural and man-made calamities. There are 4 types of motor insurance policies, Car Insurance, Bike Insurance, Third-party Insurance, Commercial vehicle Insurance.

What is car insurance policy and how does it work? ?

Car insurance policy is an agreement between car owner and insurance company that can cover car and car owner, damages cause if you hit someone else, and other accident events. When you get car insurance policy, you are buying ?car coverages,? which are essentially things your insurer agrees to pay for compensation to rectify damage car and you.

What is Car Insurance Premium and how car insurance premium is calculated

.car insurance premium is the amount you pay to insurance company on a fixed term example 12 months, in exchange for policy coverage. as your car become older, the Insured Declared Value decreases. The premium for Own Damage cover is calculated as a percentage of Insured declared value.

What is add on in car insurance??

Car Insurance Add-ons are those covers that you buy for an extra protection for your car during loss or damages. ? These add-ons increase your car insurance premium, as you get extra coverages example zero depreciation to protect your insured value you are paying extra premium for extra cover it is better to you buy if your car is less 5 years.

What is car Claims Services and why car claims get rejected?

A car insurance claim is a process wherein as car owner asks the car insurance company to pay compensate for the damages that are happened by his/her car after an accident. it is one?s right to make a claim when he/she is involved in an accident as per insurance law. Car insurance companies to reject large number of car insurance claims or to reduce there pay out. ? Another reason why a claim may get rejected is that the customer may have taken an insurance policy for a private car use while it was used for commercial other purposes..

What is bike insurance policy and how does it work?

Bike insurance policy is an agreement between car owner and insurance company that can cover bike and bike owner, damages cause if you hit someone else, and other accident events. When you get bike insurance policy, you are buying ?bike coverages,? which are essentially things your insurer agrees to pay for compensation to rectify damage bike and you.

8 steps in 3 minutes to compare best bike insurance quotes and buy best Bike Insurance Policy

1. Insured Declared Value -Each bike has got total fixed value (current market value) which is called as Insured?s Declared Value (IDV). This IDV is calculated based on previous year IDV.IDV is very much important in case of Total damage of the vehicle. Fire, Theft, Natural calamities. This is why IDV has to be kept more while buying a policy. Your IDV defines your premium. The more IDV you chose the more compensation you get. IDV is depreciated every year as per the IRDA regulation. 2. Compensation types -Personal Accident Cover ? Coverage for individual driver of the vehicle while travelling in bike, also there is option to cover co-passenger who is travelling in bike. Third-Party liability cover ? Protection against legal liability due to accidental damages resulting from the permanent injury or death of person and damage caused to the property Own damage or comprehensive cover ? Protection against the loss or damage of the insured bike.3. What type of policy is required before you start driving your bike? Before raiding your bike, it is mandatory for bike owners to have bike insurance policies and adhere to the motor vehicle act, at least a raider must have a third-party liability coverage policy. Otherwise, you will have to pay fine to cops. And also, you need to pay third-party damage costs from yourself for third-party damages in case of any unexpected events. 4. From whom you can buy a bike insurance policy? You can buy a bike insurance policy from the insurance company or insurance aggregators, agent or broker who is licensed by IRDA to provide policy advice and services. you can check IRDA for the website to validate who your buying from. 5. How to buy my bike insurance online? If you buy your bike insurance online you will get discounts and cashback offers. One most important thing you can save your time while doing your bike insurance renewal online. It?s better to compare and get a minimum of 3 different insurance companies quotes before buying the policy. Bike insurance online gives you quick and faster service from anywhere and any time.24*7. Buy a policy from insurance aggregator, also explore online aggregator you can get 3 quotes in 3 minutes. You can save your money and time. The bike insurance online process is very simple and fast. 6. What are the things I need to check after buying a bike insurance policy? Always check the start date of the policy, the end date of the policy, IDV value, exclusion of policy terms and conditions and insurer details. Take a digital copy of the policy. It will help you always while raiding you can show this proof if any authority asks for the proof of insurance.7 How to file a bike insurance claim and get my compensation? Base on accident type you must have the following documents to file a claim, 1. Copy of insurance policy, 2. First Information Report filed with the policy if any personal damages to you or third-party 3. Signed claim form 4. Copy of bike registration certificate 5. Copy of driving license 6. Medical receipts in case hospital expenses. With all these details call the insurance company or send an email with all these details and get a claim number for further process to your compensation.8. How to renew my bike insurance policy or bike insurance renewal. Before doing bike insurance renewal please check your current policy end date, if policy expired don?t have to do the inspection for some companies. It will be processed T+ 2. Means policy start date will be after 3 days from the date of payment. This applies only to the expired cases. Bike insurance renewal has to be done every year so that you will be getting no claim bonus every year. In this technological world, most insurance companies will help to do the bike insurance renewal via app and website to save their customers time.

What is add on in bike insurance?

Bike Insurance Add-ons are those covers that you buy for an extra protection for your bike loss or damages. ? These add-ons increase your bike insurance premium, as you get extra coverages example zero depreciation to protect your insured value you are paying extra premium for extra cover.

How Third-party insurance premium is calculated ?

Third Party Liability Insurance policy covers your legal liability for the injury or damage caused by you to the third party. Demise or any bodily injury to the third party. Property damage caused to the third party up to Rs. 7.5 lakh per car and 1 lakh per bike for commercial vehicle premium is calculated based vehicle make and model and purpose of use of vehicle.

How to make Third-party Claims ?

There are 2 steps involved in a third party insurance claim,you need to File an FIR and obtain a charge sheet from the police.File a Motor Accident Claims to Insurance company with Driving license documents proof

What is Health Insurance policy? how does it work?

Health insurance policy is ?a contract between you and health insurer to pay some or all of your healthcare costs in exchange for a premium.? Payable either monthly or annually. Medi claim Insurance policy. Individual Coverage. Family Floater Coverage. Senior Citizen Coverage. Unit Linked Health Plans. Critical illness plan

1What is health Insurance Premium and how health insurance premium is calculated

Health insurance premium will calculate based on the policy type i.e. individual or family, floater, sum insured of policy, age of the insured person and other factors. On an average, the health insurance premium for a sum insured of Rs. 5 lakhs that an individual might have to pay around Rs. 5,000 to Rs. 10000, depending upon the policy type and insurance company.

What is add on in health insurance?

Add-on features give extra coverage benefits over and above a base health insurance policy. Although premiums for these add-ons are low premium, the benefits that you can accrue are also limited. Hence, you should aware that every add-on comes with a extra premium, you should only buy for add-ons when it is required.

What is Health Policy Claims Services and why health policy claims get rejected?

The Health policy claims settlement process is one of the important part of an health insurance policy, if it is a health cover. A policyholder health insurance claim can get settled by an insurer in two ways: third-party administrators (TPA) or through the insurer?s in-house claims processing office. The policy holder should understand health insurance form to know the exclusions, understand the coverage limits, and other terms and conditions. Another key reason for rejection of claim by the health insurance company is the provision of incorrect information by the policy holder.

What is personal accident policy and how it works

A personal accident policy coverage you against death, permanent total disability, permanent partial disability and temporary total disability in case of an accident. Usually, on death and permanent total disability, the Insurer pays the onetime payment of sum assured and policy will get terminated.

What is Hospital Cash Policy and how it works

The Hospital Policy provides you with fixed cash benefit for each day of hospitalization irrespective of the actual medical cost you are spending. This, provides you with extra protection & also takes care of expenses which are not covered under your Health Insurance Policy such as like traveling, food etc.

What is Life Insurance Policy and how it works ?

Life insurance policy is a contract between you and an insurance company. You agreed to pay premium for the policy on a regular basis, and the insurer company agrees to pay a sum of money to your beneficiaries if you die. Term Plan ? pure risk cover,Unit linked insurance plan (ULIP) ? Insurance + Investment opportunity,Endowment Plan ? Insurance + Savings,Money Back ? Periodic returns with insurance cover, Whole Life Insurance ? Life coverage to the life assured for whole life

What is own damage premium?

These include own damage (OD) premium and third party (TP) premium. Own damage premium: The own damage premium is the part of premium fixed as per the Insured Declared Value (IDV) of your vehicle. The IDV is calculated after taking into account the value of the vehicle after depreciation.

What is TP premium?

The damage caused to others because of one?s vehicle falls under liability only policy covers (LOPC) or third party insurance, which is compulsory.

What is invoice value cover?

What is Return to invoice car insurance add-On? RTI is an add-on option which covers the gap between the insured declared value and the invoice value of the car. It?s an option that will fetch you the entire amount of loss (the on-road price you paid for your car) that you incurred from losing it.

What is Key Replacement Cover?

To put it simply, it covers the cost you incur to replace the key if it is lost or stolen. You will also get compensation for replacing the lock if required. Buying a Key Replacement Cover: ? However, this extra cost is worth all the trouble and expenditure you will have to incur if the keys are lost or stolen.

What is NCB protection?

A no-claims bonus (NCB), or no-claims discount, is a count of the number of years in which you haven?t made a claim on your car insurance policy. The amount that its worth varies from insurer to insurer, but a NCB of five years or more, for example, is likely to give you a significant discount on your premium.

What is insurance and how it works?

Insurance is a contract that transfers the risk of financial loss from an individual or business to an insurance company. The company collects small amounts of money from its clients and pools that money together to pay for losses..

What is cancel policy?

The insurance company cannot cancel the policy, provided that the policyholder continues to pay the premiums. If you cancel this policy, you may be entitled to a full or partial refund of premium under the applicable rules and regulations. If you cancel a policy, you terminate a contract of insurance

What is change policy or endorsement?

An insurance endorsement is an amendment or addition to an existing insurance contract which changes the terms or scope of the original policy.Endorsements may also be referred to as riders. An insurance endorsement may be used to add, delete, exclude or otherwise alter coverage.

Where are my claim centers?

Claims management system that supports all lines of personal, commercial, and workers? compensation insurance. Claim Center enables end-to-end claims lifecycle management, including: Intuitive loss-report intake. And also you can find the services centers in insuremile mobile app.

What are emergency services?

The public organizations that respond to and deal with emergencies when they occur, especially the ambulance service, the po