It is quite common for prospective insurance buyers to get confused by the terms general insurance and life insurance. They are not the same thing and cater to diverse aspects of life. While life insurance takes care of the risks and consequences of death, general coverage plans are designed to provide coverage for various other aspects of your life including diverse assets.
In case you are unhappy with the general insurance plan in your possession then this article is for you. Along with helping you find the best fit for your needs, it will assist you in understanding the process of purchasing a new general insurance plan online. Take a look.
Which Plan is the Best Fit for You?
General insurance, which is also referred to as non life insurance in the Indian insurance marketspace, allows you to safeguard your assets, valuables, and other things around you. The items insured under general insurance plans may include your car, home, other operations such as money lending, or professional casualties apart from death, etc. As these insurable items carry plentiful financial risks, it is important to select their insurance cover wisely.
The best fitting general insurance plans for you would be the ones that provide financial protection for damages caused by natural calamities and man-made disasters alike. From covering you from the impacts of floods, storms, fire, earthquakes, etc. to offering protection from theft, travel accidents, car accidents, etc., they should encompass it all. Comprehensive general insurance plans available online on insurance aggregator sites like Coverfox.com also cover the expenditure involved with legal actions. In other words, it is essential that you go through the basic and add-on benefits linked with different general insurance plans to ascertain which type of general insurance policy would be most suitable for your emergent and specific needs – buy accordingly.
How to Purchase General Insurance?
While there is absolutely no dearth of general insurance plans in India, the process of buying the right one for your needs requires adequate research and well-informed decision-making skills. Here are some important factors to consider as you begin your quest for the perfect general insurance plan.
1. Types of General Insurance
In most cases, general insurance companies are known to categorize their products broadly. There are several other subcategories of this type of insurance that may not be covered in the list given below. Once you understand the type of general insurance you need, it will become easy for you to compare different plans, their features and benefits, costs and tenure of coverage, etc. to help you choose the best one for your needs.
Go for third-party liability coverage or a comprehensive car insurance plan for your needs. Check out different auto insurance plans to protect third parties and their property, yourself, and your motorbike or scooter. Third party liability auto insurance is mandatory in India as per the Indian Motor Vehicles Act, 1988. This coverage has to be purchased as soon as you buy your vehicle.
These days, there are many different types of health insurance plans on the racks. They include family floater health insurance, individual health insurance, comprehensive health insurance, as well as critical illness insurance – choose accordingly.
Check out the broad subcategories of different types of travel insurance plans in India before freezing your buy. This type of general insurance coverage is offered in the form of family travel policy, individual travel policy, senior citizen travel coverage, student travel insurance, etc.
By purchasing home insurance, you can be assured of protecting your house as well as the contents within from fire, burglary, theft, riots, strikes, acts of terrorism, earthquake, cyclones, storms, and several other man-made and natural calamities.
Marine cargo insurance provides protection for goods, freight, cargo, etc. By taking up this general insurance plan you can be at peace with regards to the safety of your commercial interests against loss or damage of products by air, rail, road, and/or sea.
2. Compare and Buy General Insurance Online
Once you have ascertained the type of general insurance plan that you wish to purchase, shortlist a few plans after assessing their features and benefits. Sync your needs with the coverage, tenure, scope, benefits, ease of claim processing, premium, and other essential factors before purchasing the perfect one online.
A general insurance plan purchased at Coverfox.com would offer you the best coverage benefits at the lowest possible costs. You may want to take help of the website’s insurance comparison tools and/or the premium calculation tools to make a good purchase decision instantly – just go for it!