All Insurance News and Plans

Buying a bike for yourself or your loved ones is a huge investment and therefore, in order to keep your bike secure, it is best to have a bike insurance plan in place. In the current digital world, online third-party bike insurance , comprehensive bike insurance, add-on covers all are available with a single click on your mobile/computer screens. But how to decide which bike insurance to buy for maximum benefits based on your needs and budget? Here is a detailed table on the differences between Third-party and Comprehensive Bike Insurance Comprehensive Bike Insurance Third-party Bike Insurance What does it mean? Comprehensive bike insurance will provide coverage for both third-party liabilities and own damages, giving you a complete cover for all your needs.  Third-party bike insurance, as the name, suggests only covers third-party liabilities. Also, this is a mandatory cover that all vehicle owners must have under the Motor Vehicles Act, 1988 What does it cover? Covers all your fi...

Claiming the third-party 2 wheeler insurance for a bike is much more complex if you only have a third-party liability cover for your vehicle. This is because you will have to depend on the kind of compensation the other person's insurance policy offers. The process that you will need to adhere to while claiming a third party bike insurance is explained below: Capture the details of the other vehicle  The person who has damaged your vehicle may flee away from the accident spot. Therefore, don't forget to write down the vehicle number and other details of that person as soon as the accident happens. Also, you can capture the pictures of your damaged vehicle on the spot of the accident to submit as proof later.  Gather witnesses If someone has observed the accident and is convinced that you were not at fault, note down their details as well. This is because you can ask them to be your witness if such a need arises in the future.  You may also seek guidance from your insuran...

Paying for an expense that involves the repair of your vehicle is less painful than paying for an expense incurred for the repair of someone else’s vehicle. If you want to get rid of this unnecessary pain, you need to have third-party bike insurance or car insurance in place. Additionally, as a law-abiding citizen of the country, all vehicle owners must have a car/bike insurance plan as it is mandatory as per the Motor Vehicles Act 1988. How does third-party car/bike insurance work? In case you meet with an accident and a third-party individual or vehicle is hurt or damaged from your vehicle, you become liable to pay for the hospitalization cost of the injured person or damaged vehicle. However, in case you have a car/ bike insurance plan in place, you do not have to worry about these additional costs.  -         Your insurer will pay for the costs incurred in case of third-party damage up to the limit of the sum insured. -         Your in...

Smartphones are one of the most important gadgets in almost everyone’s life. Several people buy high-end mobile phones for the ease of working with fast processing power and high-definition cameras. Such mobile phones can cost as high as Rs. 1,50,000 which increases the chances of theft. Also, in some instances, you may lose your phone due to one or the other reason. Hence it is very important to know some very easy but beneficial ways to keep your smartphones safe- Always protect your smartphones with a very strong password that cannot be easily cracked. This helps in keeping your data secure within the phone. It prevents the attacker from manipulating your phone data to trace your location, important bank details, etc. There have been instances where thieves have been able to track down an individual to commit burglary only by having access to one’s phone. Use apps that help you to track your mobile in case it is lost. Several phones come with an in-built feature to track your phone’...

  What is Spear Phishing? Spear phishing is a type of phishing attack that can cause huge loss of personal or professional data further leading to loss of identity or financial losses. Before we understand what Spear Phishing is, let us first know the meaning of phishing and the types of phishing . Meaning of Phishing Phishing in the simplest way means illegal “fishing of data” which can be used to either defame someone or to procure personal financial credentials for committing cyber-theft or illegal procurement of a company’s/individual’s information leading to loss of integrity or finances. This is done by attackers who send malicious emails to an individual or group posing to be authentic service providers, popular brands, etc. Once the attacked individual falls prey to opening and clicking on the link in the email or message his/her data is now vulnerable either because of a malware installation or in a few cases the user enters his/her personal information like card details o...

On average of six road accidents occur every day in India. This clearly states that the country has many road accidents wherein both parties can suffer injury/damage. Paying for your own vehicle/injuries may not be as stressful as paying for third-party liabilities, and hence, to avoid such stress, you must always have a third-party two-wheeler insurance cover in place. With a third party bike insurance cover, you can avail of the following benefits- -         Any damage to the third-party vehicle is covered under the plan. So even if you damage someone's vehicle in an accident, you do not have to pay for its repair. -       In case of any injury caused to the third-party individual, the insurer will pay the medical expenses. -         In case of the demise of the third-party individual due to the accident, it is covered under the plan. -         You can avail of no claim bonus based on the terms of your insura...

Your bike is your most prized possession, especially if it one of those that you have dreamt of having ever since you were young. But sometimes, the thrill of having one and riding at high speed can also lead to situations like accidents that may cause damage to you or your bike or may lead to third-party damages. Statistics suggest that, on average, six road accidents occur in India every hour, and hence you must have bike insurance in place that protects you from any financial stress due to a bike accident. There are two major types of bike insurance available online- third-party bike insurance cover and comprehensive bike insurance cover. To understand the difference between the two, please see the table below- Third-Party Bike Insurance Cover Comprehensive Bike Insurance Cover Provides financial cover against third-party damages i.e., damages caused to any third-party bike or individual. Provides complete financial cover against damage to one’s bike or in case of any third-party...

A car is an extremely expensive asset but, at the same time, is also a prized possession. The costs of cars in India can range from Lakhs to Crores, and even a small dent on your car is very disturbing and incurs a substantial cost of repair. Now, suppose your car is damaged in an accident or due to third-party negligence. In that case, there will be a considerable cost of repair that you have to bear, and hence having car insurance is very necessary to save yourself from substantial financial losses. While there are car insurance plans that pay for the cost incurred in case of damage to your car, there is also a third-party car insurance plan covering the cost incurred in case of third-party damage. Though no one wants to harm anyone or anyone’s vehicle, road accidents can happen anytime. Hence, if you're going to save yourself from paying for someone else's car repair or hospital expenses, you must have car insurance cover. Also, all car owners must have third-party car in...

Watches are a symbol of style and grace and these come in a wide variety of range suiting the needs of people coming from different backgrounds. Some of the costliest watches can go in Lakhs and hence having a watch insurance policy to protect your finances in case of any damage to your priced watch is a must. The watch protection plans come at affordable premiums and high coverage, protecting your watch not just against damage but also theft.  With a comprehensive cover for your watch, you can secure your finances in cases of damage caused due to fire, natural calamity, accidents and more. Also, the loss incurred in case you lose your watch is also covered for in the insurance plan. But with Bajaj Finserv’s Watch Insurance Plan you can get much more than these benefits with a sum insured of Rs. 40,000 at premiums as low as Rs. 499.  A Watch Cover Plan by Bajaj Finserv will not just provide protection to your watch but will also provide assistance in case you lose your wallet...