4 Reasons why Automobile Insurance is Must

4 Reasons why Automobile Insurance is Must

Classification of Indian cities is based on the commercialization, business, and real estate. This is why we get to hear a lot about Tier I, Tier II and Tier III cities. Cities falling in the category of Tier I are extremely commercialized cities.

Tier II cities are next level down from Tier I.  There are smaller cities whose population is 1 million. Tier II cities are the regional hubs like industrialized centers and capitals of states. Cities like Pune, Mangalore, Cochin, Dehra Dun etc fall under this category.

Tier III includes the cities whose population is lesser than 1 million. Basically, these cities have woken up from their deep slumber and geared up to taste the flavors of development. Cities like Trichy, Baroda, and Madurai falls under this category.

The premium of your insurance plan depends on the tier you belong to. If the population in your city is dense then there would be more numbers of vehicles plying on the roads of your city as compared to the other cities with less population. It means that the risk of road accidents is also higher, that is why your insurance premium would be higher.

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Indian Roads and Vehicle Insurance

There are a plethora of reasons why motor insurance should be mandatory in India. Here, we are listing four prominent ones. 

1. It Safeguards you against the DamagesBuying a car is a costly affair. Not just buying, even the repair bills are very expensive. Your vehicle is always exposed to risks when it is out on the road. At times, your vehicle can be damaged because of somebody’s negligence or fault. A car damaging your vehicle, you crash into a wall avoiding hitting a passerby in order to avert an accident or a cricket ball landing on your car that cracks your windshield can take a toll on your pocket. Having a motor insurance plans saves you from all these damages.
2. It Decreases your LiabilityAs per law, having a Third Party Liability car insurance cover for all the automobiles is compulsory in India. The TPL insurance provides coverage against the legal complications of any road mishaps. For instance, if you ram your car against a car and damage another person’s vehicle or cause bodily injuries a driver or passersby, your vehicle insurance would pay for expenses incurred due to their treatment and it will safeguard you from the legal repercussions.
3. It Safeguards you from the Hospitalization ExpensesIt is unlikely that every vehicle owner surviving an accident is lucky enough to get away with minor cuts and bruises. There are some accidents that result in serious injuries such as fractures that need immediate hospitalization. Rather than making payment of the expensive hospital treatments from your precious savings, you can buy 2 wheeler insurance or 4 wheeler insurance so that your insurance provider pays for these expenses.
4. It Looks After your Family in case of your DemiseAn individual’s unfortunate demise after an accident is the worst thing that can happen to somebody. It becomes more worst if the departed fellow was the sole breadwinner of the family. The survival of a family becomes very difficult and struggling at the same time.

Having a motor insurance plan helps as it pays for the family’s expenditure after such unfortunate event.

Benefits of Mediclaim Policy by New India Assurance

Benefits of Mediclaim Policy by New India Assurance

Insurance Companies are more concern to fulfill the customer’s requirements than just providing the insurance policy in the market. They offer the comprehensive plan that provides multiple benefits and coverage to the policyholder under the single policy.
These days insurance companies also allow the customers to opt for customized plans that are pay high value in return of the premium rates.

Some companies are brand in the market and New India Assurance is such a brand that is serving its customers for over a decade.

New India Assurance Mediclaim
New India Assurance Insurance Co. Ltd. is a well-known insurance provider in Indian insurance market. It was established in the year 1919 at its headquarter in Mumbai. This private insurance company is a leading insurance provider in the domestic and international world. It offers some amazing general insurance policy in the insurance sector. New India Assurance includes over 160 products that offer different types of general insurance plans. Let us take an example of benefits offered under New India Assurance Mediclaim.

• This policy covers the expenses incurred due to hospitalization.
• New India Assurance Insurance Policy provides Newborn Coverage for the mother after a waiting period of 2 years. It covers the delivery charges.
• It covers room rent and nursing expenses up to 1% of sum assured. 
• Mediclaim by New India Assurance includes expenses incurred due to RMO, IV Fluids, and blood transfusion etc.
• New India Assurance Insurance policy provides coverage for ICU charges maximum up to 2% of sum assured, for each day.
• Other charges incurred due to Surgeons, Anaesthetists, Doctors, Consultants, Blood, Oxygen, Anaesthesia, Medicines, Drugs, X-Rays, Equipment, Diagnostic Equipment and devices are covered under New India Assurance Mediclaim Company.
• Organ donor hospitalization expenses are covered under the policy but it does not include the amount of the organ.
• It also provides coverage for cataract treatment up to 10% of sum assured.
• This policy provides Daily cash allowance up to 1% of sum assured.
• It covers 11 specified critical illnesses.
• Ambulance charges are covered up to 1% of sum assured.
• Ayurvedic /Unani treatment expenses are covered up to 25% of sum assured.
• Pre and post-hospitalisation expenses up to 30 days each are covered under New India Assurance Insurance policy.

New India Assurance Mediclaim Renewal
Renewing the health insurance policy offered by New India Assurance is very easy and quick as it allows the policyholders to renew their existing policy online. Online procedure of renewing New India Assurance Health Insurance policy is very easy and offers multiple benefits, for example, it transfers NCB, includes Easy porting procedure, offers different payment modes and additional coverage for claim less year. Read the renewal procedure of New India Assurance below:

• Visit the official website of New India Assurance Insurance.
• Log in by entering the registered log in id and password.
• Select the renewal tab and enter the details of your New India Assurance Health Insurance policy. For example name of the policyholders, policy number.
• Choose the best suited payment mode amongst different options offered by New India Assurance Insurance, for example, net banking, debit card and credit card.
• Save the receipt of renewed health insurance policy and keep it safely.

New India Assurance Mediclaim Premium Calculator
New India Assurance Insurance online services allow their customers to calculate and compare the premium amount before buying any health insurance policy. Different health insurance plans by New India Assurance Company offers various kind of coverage and therefore its premium amounts are different. The Premium calculator tool available on New India Assurance website helps the customers to buy the health insurance policy that fits in to their budget.