General Insurance
General Insurance protects against the likely loss due to unwanted incidents in monetary terms
General Insurance covers the risk attached with non-life objects like properties, vehicles, travels, and other valuables, etc. The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous regulatory authority having headquarter in Hyderabad. The IRDAI has the responsibility of regulating, promoting and ensuring orderly growth of the insurance business in India.
General Insurance Policy Types
Vehicle Insurance
It covers Car, Motor Bike, Commercial Vehicle, etc against the loss occurred due to fire, burglary, or accidents.
Home Insurance
It covers the home and its contents against the Fire and burglary of its contents.
Marine Insurance
It covers the risk associated with a sea voyage. This popular in the case of exports of goods through the sea.
Travel Insurance
It provides cover against the risk associated with travels (inland or abroad) like accidents, loss of baggage, illness, etc.
Fire Insurance
It covers the loss that occurred due to the fire in case of Vehicle, Stock, house property, etc.
Health Insurance
It covers an individual against the illness or disease. It also covers critical illnesses like Cancer, heart problems etc.
General Insurance Benefits
Financial Security
General insurance protects the financial losses and damage to the policy holder’s valuables and assets, that may have caused due to theft, burglary, terrorism, natural disasters like flood, earthquake, etc.
Tax Benefits
Your general insurance policies and life insurance policies have tax benefits. Health insurance tax benefits in India allows citizens to avail are benefits under section 80D. Senior Citizens, aged above 60 years of age are allowed a tax deduction of Rs. 30,000.
Mental Peace
Insurance policy provides coverage against third-party liability, personal accidents, protection against theft, burglary, terrorism, natural disasters and risks related to any business. Certain policies also takes care of your family and loved ones when you’re not around thus ensures mental peace and makes you worry-free.
Need support in selecting right general insurance policy?
We can help.
