IDV or Insured Declared Value of the vehicle is calculated at the time of initial purchase as well as at policy renewal. IDV is considered as the vehicle sum insured and is fixed at the commencement of each policy period for each insured vehicle. What is IDV (Insured Declared … [Read more...] about What is IDV (Insured Declared Value) of Car/Bike or IDV Calculator?
How to Check Car Insurance Status Online in India?
In case you are an unfortunate victim of any road accident and do not know the insurance details of the vehicle responsible for accident to lodge a claim with the concerned insurer, you can now get the insurance status of the vehicle by entering some basic details on IIB website, … [Read more...] about How to Check Car Insurance Status Online in India?
Bajaj Allianz launched a new Car Insurance – Drive Smart
Bajaj Allianz has launched a new car insurance program named Drive Smart. Drive Smart is a telematics (long-distance transmission of information). Drive Smart will decide the price of insurance renewal premium based on your driving habits. This is a new way of motor insurance … [Read more...] about Bajaj Allianz launched a new Car Insurance – Drive Smart
How to Transfer Old Car No Claim Bonus (NCB) or Discount to New Car?
You can transfer the old car No Claim Bonus (NCB) or Discount to a new car by using any of the below two options: 1. If you are selling the car without the insurance, you can surrender the policy and ask insurance company for refund. The insurance company will refund you the … [Read more...] about How to Transfer Old Car No Claim Bonus (NCB) or Discount to New Car?
What is No Claim Bonus (NCB) and how it works?
What is "No Claim Bonus"? No Claim Bonus (NCB) or Discount is the benefit accrued by the policyholder if there is no claim lodged during the previous policy period. How much NCB you can Get? As per current insurance industry norms, it ranges from 20% to a maximum of 50%, based … [Read more...] about What is No Claim Bonus (NCB) and how it works?
Motor Third Party Insurance Premium Set to Increase
The IRDAI, in its draft circular on third-party motor insurance premium, proposed a premium hike in the range of 10-29% from 1st April 2016. What is third-party insurance? Third-party insurance is mandatory for all motor vehicles in India. The premium of motor third-party … [Read more...] about Motor Third Party Insurance Premium Set to Increase
How to Check whether your Insurance Policy is Fake or not?
Now and than you hear fraud news on insurance policies. It has impact on both insurers and policyholders. Lets check out - how to find out fake insurance policy - 1- Buy directly from the Insurance Company When no intermediate in between and you buy directly from the … [Read more...] about How to Check whether your Insurance Policy is Fake or not?
How to Pay Insurance Premium via Mobile?
You can pay your insurance premium anytime and from anywhere, just using your mobile phone and credit/debit card. Let's check out available mobile options - 1- Mobile Website - Some insurers has come up with mobile websites/applications for renewal of their insurance policies … [Read more...] about How to Pay Insurance Premium via Mobile?
IRDA brings in Paint of Vehicle under Depreciable Part
Insurance Regulatory and Development Authority (IRDA) included vehicle paint under the purview of depreciable part and fixed rate of depreciation for the same. As per IRDA Press Release, "Rate of Depreciation for Painting : In case of painting, the depreciation rate of 50 per … [Read more...] about IRDA brings in Paint of Vehicle under Depreciable Part
How to buy Motorcycle (Bike) Insurance Online?
Insurance agents get very less commission on the motorcycle/bike insurance policy, so most of them are not interested in renewal of bike insurance. So how to renew, go online and renew yourself. We had checked some insurers, who are offering the online motorcycle/bike/two … [Read more...] about How to buy Motorcycle (Bike) Insurance Online?