Benefits of Insurance Policies

General insurance or non-life insurance is an umbrella term for motor, health, travel, and home insurance. It seeks to offer protection against different areas of hazards including property, vehicle, medical, travel and various other forms of professional casualties. Many non-life policies provide low death cover as well. General insurance adds value to your life by safeguarding your assets through the vehicle and home insurance, by taking care of your health through health insurance and by making your travel hassle-free through travel insurance. In essence, the benefits of purchasing general insurance can be many and can vary according to its type.

Make yourself aware about the benefits your insurance offers

Most of us simply assume that the benefits an insurance policy offers are the ones we know or the ones our insurer informs us about. However, many of us overlook the little-known yet highly integral benefits of the policies. There are several benefits in every insurance policy that remain unused due to lack of awareness. Therefore it is always good to read the policy wordings yourself; a few added benefits hurt no one!

Motor Insurance

The Benefits You Know

Mandatory as per the Motor Vehicles Act, a third party motor insurance, by definition, covers the vehicle against third party liability arising out of an accident. However, comprehensive motor insurance is what one should prefer, for it provides an all-encompassing coverage including personal accident cover and protection against own vehicle damage besides third party liability.

And the ones you must

The lesser-known benefits of motor insurance include towing, roadside assistance, cashless servicing at nation-wide approved workshops and garage network, essential fuel delivery, services of a taxi, hotel and medical coordination, and relaying urgent messages to your family.

Health insurance

The Benefits You Know

Health insurance plans cover you against any medical emergency and offer cashless treatment or reimburse the cost incurred during treatment. Additional riders can be added to the policy to enhance its cover.

And the ones you must

The many under-publicized benefits of health insurance include daily hospital cash allowance, the expense for alternative treatment like Homeopathy and Ayurveda, treatment taken at home, organ donor expenses, recuperating benefit, and attendant allowance.

Travel Insurance

The Benefits You Know

Travel, weather domestic or international, must be secured with a travel insurance plan.  It provides coverage against medical emergencies, loss of travel documents, checked-in lost/stolen baggage, travel delay or cancellations, and personal liability.

And the ones you must

Most of us believe that the above-mentioned benefits are all that a travel insurance plan can offer. But, it is not true! Some benefits which remain little-known include missed travel connections, dental care, hijack distress allowance, emergency financial assistance, and repatriation benefits.

Home Insurance

The Benefits You Know

Home insurance covers the structure and the contents of the house against natural or other man-made calamities and reimburses for the loss incurred. It not only covers losses to your home but also your liability for any injuries or property damage you cause to others.

And the ones you must

However simple the benefits of home insurance may seem, there are a few things that may surprise you and can benefit you in many ways. These benefits comprise of additional living expenses, personal property replacement, emergency home repair service, and terrorism cover.

Why must you be aware about such benefits?

Many of these benefits can be of integral value at the actual time of need. A big majority of the insurance buyers today stay unaware of such benefits due to a lack of awareness or time to go through the policy fine print.

It is only right to set a disclaimer here that some insurance companies may offer these benefits, some may not, and then there are those who provide these benefits as additional covers. Therefore, you must read the insurance policy wordings thoroughly before you buy it. As an added incentive, being informed about clearly defined information within an insurance policy can make the claim process a whole lot easier and simpler.

**To understand exactly about the policy coverage, exclusions, etc. read the Policy Wordings carefully.**