General Insurance

General Insurance refers to non-life insurance policies that provide financial coverage for a variety of risks, such as health, property, vehicles, travel, and more. Here’s an overview of general insurance services and how they work:

Features of General Insurance

• Risk Coverage: Protection against financial losses due to unforeseen events.
• Customizable Policies: Add-ons and riders to enhance coverage.
• Premiums: Paid annually or periodically based on the type of coverage and risk involved.
• No Claim Bonus (NCB): Discount on premiums for claim-free years (applicable to motor insurance).

How to Choose the Right General Insurance Policy

• Identify Your Needs: Assess what you need insurance for (health, vehicle, property, etc.).
• Compare Policies: Use online tools to compare coverage, premiums, and benefits from multiple insurers.
• Check Claim Settlement Ratio (CSR): Higher CSR indicates better chances of claim approval.
• Read the Fine Print: Understand exclusions and limitations of the policy.
• Opt for Riders: Choose add-ons like roadside assistance for motor insurance or accidental coverage for health policies.

Benefits of General Insurance

• Financial protection against unforeseen expenses.
• Peace of mind knowing risks are managed.
• Fulfillment of legal requirements (e.g., motor insurance for vehicles).