The procedure for nominee update is quite hassle-free and quick with SGI. Every journey of yours must be protected from uncertainties while travelling. And, that's why to secure your train journey IRCTC travel insurance helps a lot and compensates for different losses. The best part is you don't have to worry about the money. You barely have to pay a premium of INR 0.49 (Including GST) at the time of booking your ticket. What do you get covered for? Under the IRCTC travel insurance, you will be covered for death for which you undoubtedly get 100% compensation, permanent total disability also 100% compensation, permanent partial disability, hospitalization expenses for injury, transportation of mortal remains compensation as per the terms and conditions of the insurer. How to update nominee on train journey insurance policy by SGI - Step 1: Visit Shriram General Insurance website www.shriramgi.com then go scroll to Self-Care and click on IRCTC Nominee Update. Step 2: Fill in the required details as mentioned on the web page such as Transaction ID, PNR Number, Policy Number (any 1 of the 3 fields) and Journey Start Date. Get verified by the Captcha. Step 3: Fill in the nominee details such as nominee name, age, relationship, contact number, email-id (all mandatory fields). Step 4: After you filled in all the important details click on save and then print to download the policy PDF. In final words, now you got a brief idea about how to update nominee details and you can easily update nominees without any issue. If any issue occurs you can contact the insurer for immediate assistance.
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Safety is a priority! Accidents are unplanned; they don't give a chance to even react. These unpleasant incidents can leave you badly injured or dead in some cases. Whether it's your mistake or not you can be the victim of severe road accidents. And, that's the reason you need to buy two-wheeler insurance, and get personal accident coverage. Accidents not only bring financial issues but, emotional shock as well. That's why personal accident cover protects from financial losses that occur due to unknown events. Personal accident cover that comes with a motor insurance policy is available for owner-driver. Thus, whether you are opting for third party liability or comprehensive, personal accident cover is a must. Under a two-wheeler insurance policy, personal accident insurance is issued in the name of the vehicle owner. One of the important things that need to be considered as a vehicle owner is to have a valid driving license. Are you eligible to buy compulsory personal accident cover? - To get the benefit of PA cover, the owner-driver must be the registered owner of the insured car. - The owner-driver name must be mentioned in the two-wheeler insurance policy - The most important thing is to hold a valid driving license for the owner-driver. The coverage criteria of PA insurance for owner-driver In the case of the owner-driver accident, PA cover will compensate the bodily injury, temporary disablement, permanent disablement or death. As per IRDAI guidelines, Rs. 15 lakh is the coverage limit. - Accidental Death: In such a case, the nominee of the insured will be paid the 100% sum insured. - Permanent total disablement: In this case also, the nominee of the insured will be paid the 100% sum insured. - Temporary disablement: The compensation depends on the severity of the injury as per the insurer's policy wordings. This is so obvious why you need to buy personal accident insurance because you need protection against uncertain injury or loss while riding. You have a family to feed and for them, you have to be particular about this cover. You can't deny the hitting of unknown events such as road accidents. It is quite unpredictable and can lead to temporary or permanent injury. That is why you need to prepare for unplanned events to tackle the situation accordingly. Under two-wheeler insurance, it is important to have PA cover as it protects owner-driver. The policy helps to cover financial loss for the victim and the family. As you know third party liability is mandatory to buy as per the Motor Vehicle Act 1988. It was implemented to protect against vehicle loss or damage for the third party. Later, to cover owner-driver against bodily injury as the cases were increasing, PA cover was implemented and made mandatory as a compulsory personal accident cover to provide safety against accidents as well. Final words, so now you know why PA is necessary with 2w insurance. Safety should never be compromised in any case. Owning a favorite car is a dream of everybody, however most of them fulfill their dreams by owning a car without having a valid reason as they follow their passion. Sometimes maintaining a car is a big headache for most of the car owners as unwanted expenses often occurred during the car maintenance. One of them is insurance, car insurance is something which needs to be done every year without fail as it's a mandatory act as this has been passed by Indian motor act. As you cannot skip your insurance renewal, however there are lots of areas where you can save your insurance premium. Here I will let you know those points; you can follow them and save lots of your money in your insurance premium. 1. Compare premium and purchase The very first thing you need to do is when your insurance renewal date comes near, start asking the quotation from different insurance companies. Compare them in terms of your requirements; exclude additional add-ons which you think is not required for your vehicle. It's time for smart phones, thus you need not to go anywhere, all you need to do is just start your mobile internet and start exploring insurance policies. As online shopping is a trend nowadays then why not insurance? This will not only save your time but in a less time you will get lots of other benefits like filling long forms physically as all these exercises will be done by an online company representative who is assisting you regarding your insurance. 2. Increase the voluntary deductible A voluntary deductible is an amount which will be deducted from your claim amount in case of any claim, meaning upto your deductible; you need to pay the amount from your pocket.o if you think, you can bear a certain cost in case of any claim, then you can take the voluntary deductible to reduce the premium. Example: if you take a voluntary deductible for the amount of 15000 and a claim aroused of 50000 in an insured year, then 15000 has to be borne by you and another 35 thousand will be borne by the insurer. 3. Don’t claim for a small amount: If you met with a small accident and you think that the loss is not major and you can borne the small amount loss then do not go for the claim. If an amount spent on the loss repair is lesser than the NCB you will receive next year on your premium, then you should pay for the loss rather opting for a claim. 4. Transfer your NCB: NCB is something given by insurers to insured as a reward for a claim free year and that goes up to 50% of your own damage premium. So in case you are planning to buy a new vehicle and you have a good NCB percentage to your previous vehicle then you can transfer the previous NCB to your new vehicle. This will be a reward and definitely low down your car insurance premium. Even if you are not going to purchase a vehicle but selling an old car then also you can reserve your NCB for upto 3 years, please make a note that NCB is linked to the policy holder and not with the policy of the car. 5.Reduce your vehicle’s IDV Do Not go for the higher IDV for your vehicle, always remember that you will get your higher IDV value only if your car got total loss or in case of theft otherwise there is no need to increase your vehicle’s IDV. As higher IDV leads to a higher premium, however, make it according to the market price, so that you can save money by choosing the correct IDV for your vehicle. 6.Install Anti-Theft devices for your vehicle: Installing an anti-theft device for your vehicle not only secures your vehicle from theft but also benefits you while renewing your vehicle’s insurance. As it shows your love and care towards your vehicle thus insurance companies reward you by 5% discount on the premium amount by doing this. The funda is as simple as you can understand. I am pretty sure that few of the ideas will definitely work for most car owners as time requires smartness and being a smart person doesn’t cost you anything but make you more capable to make the right decisions at the right time. Does the claim stand if the variant of the car is wrongly entered in a motor insurance policy?4/16/2020 There is always a simple rule that people should go with, being transparent to the insurance company. Whenever you buy motor insurance policy online or offline by yourself or via an agent, always remember to share correct information. Incorrect details can let you face the unwanted consequences at the time of claim. There is a lot of efforts and analyzing go on while buying motor insurance to get a policy that protects completely. But, your ignorance or negligence for false information may occur reverse circumstances. According to the IRDAI statistics, about 10% of all vehicle claims are rejected and most of the claims rejected by the insurance companies are for a valid reason. This is highly important to know that misinterpretation of material facts may lead to repudiation of the claim. Therefore, it is important to proper information and avoid issues in future. Vehicles need to be insured before it can be driven on the road. Also it’s your responsibility to aware about the inclusions and exclusions of insurance policy. This helps in maintaining the discipline for policyholders during insurance tenure. However, the insurer's responsibility is to ensure non-genuine claims to be rejected as per the protocol. What is material fact? 'Utmost good faith', is the ultimate mantra for insurance services. This is based on legal principles in the insurance industry. This requires a person to disclose all kind of information related to the insurance policy requirement. The details given by the person who is willing to buy an insurance policy to the insurance company is known as a material fact. This information of insured is used for assessing the level of risk by the underwriters.Be genuine while sharing relevant information for buying insurance policy because that will only help at the time of filing claim. Why disclosing material fact is important? You seek motor insurance to be safe from uncertainty with various coverages that provide financial assistance when in need. It is important for you as well as for the insurer to have complete and genuine information about you and vehicle. Disclosure of material fact is a legal duty before inception of the insurance policy. This helps to analyses the level of risk, if any incorrect information found. It will be taken as serious disobedience instead of asking correct information. This can invalidate your cover as well. If in case, any wrong entry your responsibility is to recheck the policy copy and immediately inform the insurer. They will send your policy copy for correction known as an endorsement.But, if you found as guilty then the insurance company has the right to repudiate your claim. Your policy may also be cancelled; basically it depends on the insurance company how they are going to take actions. Consequences for not sharing correct material facts to the insurer Not sharing material fact may lead to distrust and disobedience of the utmost good faith principle. You should avoid such practices as it will only make you lose. Every insurance company has its own way of dealing with these situations. Terms and conditions also differ depending on the insurers. Also you must go through the given terms and conditions of the insurance company from which you are planning to buy motor insurance. Claim may be rejected on the basis of wrongly mentioned detail at the time of policy buying. Insurers have complete right to avoid or cancel the insurance contract with you. Insurance policy protects you against various uncertain events such as earthquake, lightning, flood, typhoon, hurricane, storm, tempest, inundation, cyclone, burglary, theft, riot, strike, malicious act, terrorist activity and others. Just one motor insurance policy with so many coverages, you can lose all these because of giving wrong information to the insurer. Final Words, as life's nature, it is always uncertain where things never go as per the plans. Incidents like, road accidents, bursting, but people don't focus on these. Life can put you in any sort of situation and you have to deal with it. Well, it's all up to you how smartly you catch up with this. It is important to prevent yourself with precautionary measures and here financial assistance is safety for you. If you don't want to put all your money in medical treatment or health expenses, buy motor insurance to curb this. And, always follow the principle of ‘utmost good faith’. Home is not only a building made of cement and bricks, but it is filled with your emotions and sentiments. It is the ultimate place where you feel warm and cosy all the way. It protects you from external forces like rain, storm, lightning, burglars and many others. There is no such place like home where you live in your own space safe and secure. Now it is your responsibility to protect your home from unknown events. Actually, it should be your priority because having a home is like a dream came true. You earn lifetime and give everything to build your sweet house where you could happily live with your family. But have you ever thought of protecting it? If not, then now it is your turn to pay back the favors of those walls that have protected you for years. And the one best thing that can assist you is Home Insurance. Yes, buying home insurance policy can secure your home completely from natural as well as man-made disasters. It will assist you emotionally and financially in the event of any mishap. It is the perfect backup plan to protect your home but some people look to it as an unwanted expense, but actually, it is not. Let us check some reasons why Home Insurance is good to have: Protection against Natural Disasters: Natural disasters can strike you anytime and anywhere. These are beyond the control of human beings but you can take safety measures to protect yourself. Do you remember the Nepal earthquake in 2015; around 5.6 million lives were affected. People witness home and property getting destroyed in front of their eyes. It was really very hard time for them. But buying home insurance policy can lower your pain and can protect you and your family from Natural disasters. Security from Man-made Disasters: Today the technological world has indeed changed the environment. We live in a hi-tech society where we are surrounded by the latest safety measures, like CCTV cameras, security alarms and several others. But then also we cannot depend on them for our security. Man-made disasters like theft, strikes, robberies and many more are still common. This shows that people are not safe inside their homes. So to face all these situations Home Insurance plays an important role. It assists you mentally and financially in needy situations. Offers peace of mind: For some people, Home Insurance is like an unwanted expense for them. But the complete peace of mind which home insurance offers is actually above of all. It prepares you for the worse and also helps you financially. Safety against Legal problems: Accidentally or by the way, if you damage someone else’s property, then home insurance can protect you from legal problems by covering the cost of damages. It also covers the medical expense cost to guests who are hurt in your house. Take Rental coverage: If you are renting your house, then also you always need to be alert and prefer home insurance for the proper safeguard of your property from the uncertain events. Today, you can buy home insurance online without any hassle and live tension-free. Available at low premium rates: Home Insurance is available at low premium rates and offers useful benefits to buyers. Moreover, it is flexible and people can add or remove covers as per their wish in the policy. Security for the belongings kept within: Home Insurance not only covers your home but also the valuable belongings kept inside the home like the jewelry, luxury furniture and fittings, gadgets, electronic appliances and many other expensive items. In the event of theft, you will get the compensation for the same or be replaced with the new ones. |
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