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Did You Know

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Did You Know

We at Alert Insurance Brokers Pvt. Ltd. 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.

DID YOU KNOW !!!

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.
  • 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 after deducting depreciation.
  • 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%
  • Selling you 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 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:

Save up to 65% 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 avail Add on covers like Nil Depreciation, Consumables, Engine Protect, Return to Invoice, Loss of key …etc (Available up to age 5 of the vehicle)

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

Two wheeler Insurance:

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

You can now buy Long Term Two Wheeler Insurance policy. Options include 2 and 3 year policy period

Do not have your previous Two Wheeler Insurance Policy? Good News.You can still buy a new policy without any inspection from Policy99.com Go through the Break in Flow...

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

Commercial Vehicles:

Opt of 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:
https://www.policy99.com/commercial-vehicles

Mediclaim / Health Insurance:

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

Some Insurance companies also cover Treatment availed outside India

Ideally 1% of your Mediclaim Sum Insured must be the room rent during hospitalization.

There is no excess / Deductible under most mediclaim policies

Ask for Super Top Up Policies which are very cheaply priced

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

Be aware of Sub limits if any

Opt for add on premium to pay Proportionate clause , Maternity , Extended Cataract Amount …etc

Overseas Travel Insurance:

Under overseas Travel Insurance round trip Premium starts as low as Rs 603

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

Fire & Allied Perils:

To avoid under insurance deduction during a claim it is strongly recommend 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 X100
https://www.policy99.com/standard-fire-and-special-perils-insurance

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

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.

Claim consultancy:

You can now avail Claim Consultancy for a nominal fees even if you have not bough the policy through us.

Click the below link:
https://www.policy99.com/claim-consultancy