AMLAN NASU INSURANCE AGENT

  4 Different Types of General Insurance in India General insurance covers home, your travel, vehicle, and health (non-life assets) from fire, floods, accidents, man-made disasters, and theft. Different types of general insurance include motor insurance, health insurance, travel insurance, and home insurance. A general insurance policy pays for the losses that are incurred by the insured during the period of the policy. Different Types of General Insurance Today it is crucial to know about the different types of general insurance because of the numerous benefits they offer. Read on to know more about them: 1. Home Insurance As the home is a valuable possession, it is important to secure your home with a proper  home insurance policy . Home and household insurance safeguard your house and the items in it. A home insurance policy essentially covers man-made and natural circumstances that may result in damage or loss. 2. Motor Insurance Motor insurance provides cove...

  Types of Car Insurance What is Car Insurance? Car insurance policy is taken by the owner to protect her vehicle from damages and/or loss arising from unavoidable and unforeseen circumstances. It provides cover against theft, total/partial, Third Party Liability arising out of Motor vehicle accident Let us take a look at the different types of car insurance. Liability Coverage This is mandatory cover under the Motor Vehicles Act. It covers third party injury, death or damage to the property of third party. Own damage to private car:  Own Damage (OD)  Car insurance  helps you stay covered against damage caused to your vehicle due to accidents like fire, theft, etc. In case of an accident, an own damage cover compensates you for expense to repair or replace parts of your Private Car damaged in the accident. Your own damage insurance policy covers damage caused by fire explosion, riots and strikes, earthquake (fire and shock damage), floods, accidental exte...

  KEY TERMS IN MEDICAL INSURANCE Assignee:  The person who get the benefits of the policy. Claim:  The payment request filed by the insured person to the Insurance company, for payment of Medical Expenses. Co-payment:  Co-payment is a cost-sharing requirement under a health insurance policy. In certain cases, the policyholder agrees to bear a certain percentage of the hospital bill, as per the conditions of the policy it is called co-payment. In doing so, insurer charges a lesser premium. It’s important to note that the sum insured in such cases remains the same and is not reduced. This feature is more likely to figure in a senior citizen health insurance plan. Cumulative Bonus:  Cumulative bonus is similar to NCB (No Claim Bonus). For every claim free year, the sum insured increases by a fixed percentage as per policy, but cannot exceed 50 per cent of the Main Sum Insured and is admissible only if the policy was renewed continuously. Deductible: ...

  GLOSSARY OF TERMS K to Z ·          KNOWN LOSS A loss about which the insured and/or the insurer is aware at the time when insurance is effected. ·          KNOT A ship's unit of speed - a nautical mile (i.e. generally 6080 feet - 1.151 statue miles or 1853 metres) per hour. ·          KNOCK-FOR-KNOCK AGREEMENT In relation to Motor insurance, agreement between two or more insurers to the effect that in the event of collision between two motor vehicles insured with two of them separately, each insurer will bear the loss with regard to the vehicle insured with them without going into the cause of which vehicle has caused the collision.  There is however no effective implementation of this agreement by the insurers because of various reasons. ·          KINDRED PERILS Perils of the same kind.For example...