What is General Insurance?
Types of General Insurance products
1. Motor insurance
For the vehicles run on Indian roads, it is mandatory to own a policy insurance policy. According to the Motor vehicle act 1988, be it any vehicle, including cars, bike, and commercial vehicles, should have the documents while riding. If the rider doesn’t own the insurance documents, he/she has to pay fine. There are two types of motor insurance,
a. Third-party liability policy
It covers the damages caused on the third party vehicle and person by the policyholder’s vehicle. It is mandatory to have one.
b. Comprehensive policy
It is a complete insurance option that includes third party benefits along with extra benefits. It covers the damages of both the policyholder and third-party vehicle.
The common types of Motor insurance are,
- Car Insurance
- Bike Insurance
- Commercial Insurance
2. Health insurance
Health emergencies can land up in huge financial expense. In such situations, health insurance policies help the policyholder to reduce the expenses made. There are a lot of Health insurance plans available in the market. Compare the policies and buy the best IVA insurance. The policy covers in-hospitalisation, pre-hospitalisation, and post-hospitalisation expenses.
The different types of Health insurance policies are,
a. Individual Health Insurance Policy
b. Family Floater Health Insurance Policy
c. Senior Citizen Health Insurance Plans
d. Critical Illness Health Insurance Plans
e. Maternity Insurance Plans
f. Unit Linked Health Plan
g. Personal Accident Plan
h. Group Health Insurance Plan
3. Home insurance
One of the biggest possession for a person in life is a house in their own name. There are several safeguard options available for the policyholder to choose a policy. Buildings can definitely undergo any kind of damages due to any natural or man-made reasons. The situations such as natural and manmade calamities. It also includes Fire and peril cover options.
4. Travel insurance
There are several uncertain situations that a person could experience during travel. Flight delays, baggage losses, medical emergencies and many more situations when the travel insurance policy covers the financial emergency.
Benefits of General Insurance
Why should you buy General Insurance at IVA insurance?
There are certain uncertain factors involved in life. In order to surpass the effect of any emergency, one must have an insurance policy.
There are different types insurance policies available in the market. Each policy has a great range of benefits relating to the type it is related to.
Every policy other than life insurance policy has a specific active term. The validity of the policy is pre-decided. The policy can be renewed online and offline. The online process is very fast and simple, but for the offline process, the person has to invest money and energy.