Did You Know

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We at Alert Insurance Brokers Private Limited ensure that our customers make an informed decision before buying an Insurance policy. There are so many add on covers & extensions available for each Insurance product. The choice our customers make while purchasing an Insurance policy is directly related to the benefits availed during an unfortunate event of a claim.


Important Tips on Motor Insurance
  • Your Own Damage Motor Insurance Claim can be rejected due to wrong declaration of No claim Bonus (NCB) discount. This rule applies to all Insurance companies.
  • If you intimate a claim and decide not to go ahead with the claim you have to send a mail to the Insurance company that you are withdrawing the claim within a stipulated time else you will not be eligible for No Claim bonus discount during renewal
  • Your Motor Insurance claim may be rejected if the claim is not informed to the Insurance Company immediately.
  • The Insurance surveyor must be given an opportunity to inspect the vehicle before the repairs are carried out.
  • Check if cashless facility is available with your preferred workshop before buying a Motor Insurance policy.
  • Most of the Insurance companies restrict Add on cover benefit only till 2 claims in a year. For e.g 3rd claim in the policy year will be paid without add on benefits
  • Most of the Insurance companies do not pay accumulated damages during a claim. It is recommended to immediately intimate & claim then and there for hassle free claim experience.
  • Insurance company may insist on FIR to pay multiple damages during a single accident.
  • Maximum No Claim Bonus Discount slab is 50%.
  • If the claim amount is small it is better not to claim to continue the No Claim bonus benefit during renewal else during subsequent renewal the No Claim bonus will be shifted to 0% slab.
  • Selling your old vehicle which has No claim bonus discount? If yes, Good news! You can reserve your No Claim Bonus discount percentage by availing a “No claim bonus reservation certificate” from your existing Insurance Company. This certificate is valid for 3 years and the same discount can be used for your new vehicle’s insurance premium. No claim Bonus goes with the registered owner and not with the vehicle.
  • Renew your vehicle Insurance well in advance and ensure a copy of the Insurance is kept in the vehicle at all times.
  • Third Party Motor Insurance is compulsory as per law.
  • Ensure that the RC and Insurance Policy both are in the same name.
  • What is the Penalty for driving a vehicle without Insurance?
    You would be charged a fine of Rs.1000 by the Traffic police, and/or be imprisoned for 3 months.

Private car Insurance:

It is mandatory to buy 3 years Third party Insurance for your new privare car. You can choose to buy Own damage for either 1 or 3 years period.

Save up to 75% De Tariff discount on Own Damage premium for high end cars

You can now avail Nil Depreciation add on cover for your private car Insurance (Available up to age 11 of the vehicle)

Under car Insurance you can also avail Add on covers like  Consumables, Engine Protect, Return to Invoice, Loss of key …etc (Available up to age 5 of the vehicle)

For individuals “Owner Driver” Personal accident cover of up to Rs. 7,50,000 can also be covered by paying extra premium. This covers Accidental death to the Owner cum driver

Legal Liability to paid driver can also be covered by paying nominal premium

Unnamed passengers can also be covered under personal accident for a Sum Insured of Rs 2 lakhs each according to the seating capacity of the vehicle

If there is a break in Insurance period the vehicle needs to be inspected by the Insurance company’s representative before issuing the policy

If you have registered a claim with Insurance Company and for any reason you have changed your mind and want to withdraw the claim the same needs to be informed to the Insurance Company else your NCB during renewal will get affected.

For more details click the below link:


Two wheeler Insurance:

It is mandatory to buy 5 years Third party Insurance for your new Two wheeler. You can choose to buy Own damage for either 1 or 5 years period.

You can now avail Nil depreciation add on cover for your Bike Insurance(up to age 5)

You can now renew Long Term Two Wheeler Insurance policy. Options include 2 , 3 or 5 year policy period

For individuals “Owner Driver” Personal accident cover of up to Rs. 7,50,000 can also be covered by paying extra premium. This covers Accidental death to the Owner cum driver

Pillion Rider can also be covered on unnammed basis under personal accident

Do not have your previous Two Wheeler Insurance Policy for your bike? Good News.You can still buy a new policy without any inspection from Policy99.com click on the “Renewal” option

For more details click the below link: https://www.policy99.com/two-wheeler-insurance

Commercial Vehicles:

Opt for Nil Depreciation add on cover with various options till age 5 of the vehicle

Opt for IMT 23 add on cover on Commercial vehicle Insurance which will also cover bumper, head light…etc

Ask for overturning cover for cranes and other misc. types of vehicles

For more details click the below link:

Mediclaim / Health Insurance:

Ask for policies without room rent capping & Propotionate clause

Normal mediclaim policies will have a cap of 1% of the Sum Insured on room rent per day and 2% of the Sum Insured for ICU

Under Mediclaim Insurance you can now avail Sum Insured up to Rs 1.50 to 2 Crores

Some Insurance companies also cover Hospitalization Treatment availed outside India for certain critical illness

Ideally 1% of your Mediclaim Sum Insured must be the room rent during hospitalization to get maximum benefit from your policy

Propotionate clause is applied and deducted as per the same propotion of the room rent per day

For e.g if you have a Sum Insured of Rs 5,00,000 , 1% of the Sum Insured i.e Rs 5000 only will be paid as room rent and Rs 10,000 only will be paid as ICU charges per day

Under the above e.g If you stay in a room where the room rent per day is Rs 10,000 and if the total claim Amount is Rs 3,00,000 then only Rs 1,50,000 will be paid i.e propotionate clause will be applied 

Ask for Super Top Up Policies which are very cheaply priced for the benefits offered.

You can also buy standalone Critical Illness plan to get lump sum payment of Sum Insured 30 days after diagnosis of specific critical illness

Look for the following waiting periods before buying a policy.Waiting period of First 30 days, 1st year, 2nd year, 4th year, pre existing diseases

Be aware of disease wise sub limits

Opt for add on premium like: (Offered only by few Insurance Companies) :

a) No Room rent capping

b) No Proportionate deduction clause

c) Maternity expenses

d) Extended Cataract Limit

It is not advisable to change your mediclaim insurance company. If you are not satisfied with your existing Insurance company you can port to another Insurance company 50 days before the expiry date.

If you already have any pre existing health condition or made any claim in the past then getting the portability becomes very difficult. 

Most of the Insurance companies pay 30 days pre and 60 days post hospitalization expenses related to the same teatment / hospitalization 

Ensure that the Doctor’s prescription , X- Ray , X Ray report, Poof of Payment and Invoice are all available while claim submission

For more details click the below link: https://www.policy99.com/health-insurance

Overseas Travel Insurance:

Under overseas Travel Insurance round trip Premium starts as low as Rs 180

Overseas mediclaim Insurance can be taken before leaving the Republic of India

In patient Hospitalization is not a must to avail claims under most Travel Insurance policies

If you are a frequent traveler you can opt for Annual Multi Trip Overseas Travel Insurance which works out cheaper

For more details click the below link:https://www.policy99.com/overseas-travel-insurance

Fire & Allied Perils:

To avoid under insurance deduction during a claim it is strongly recommended that the Sum Insured indicates as follows:

Building, Furniture fixtures and fittings :Reinstatement value basis (i.e New for Old)

Plant ,Machinery, Equipment’s, Air Conditioners & Stabilizers, Generators, Transformer and accessories: New replacement value basis

Stocks :Market Value Basis

Under Insurance formula % = Sum Insured / New replacement value X 100

During claim the items Insured must appear in the Profit & Loss Account & Balance sheet of the Insured

Building must be constructed as per Approved plan for Insurance claim

For stocks ensure you have a Stock register, Stock movement register, Gate pass.

Be aware of warranties like :
Basement warranty, Sub limits ,Open stock warranty…etc and take an informed decision while finalizing any Insurance policy.

To save premium furnish bifurcation of Sum Insured for building & plinth and foundation 

Claim consultancy:

We also provide Claim Consultancy for a nominal fee even if you have not bought the policy through us.

Click the below link: