Query Moved and Approved.

Thx for the approval aryan. I thought this could make a good universal thread!

The Insurance which you have bought covers 3rd party(as per the law) and damages caused to your vehicle(if opted for).

To cover your medical bills you need to purchase saperate Mediclaim or Medical Insurance from any Insurance company which also covers expenses of treatment inucrred due to accident.

I also vote for a Universal thread.

AFAIK, there are 3 kinds of insurance: 1st party, 3rd party&comprehensive, which is a combination of the above 2. Please reead your insurance certificate for details on the 3 types.
AFA medical is concerned, you will have to claim it through your Mediclaim Policy, which is there for most corporates, or else taken individually from ICICI etc. There is a rider section in it too!

yes little correction in that post written above, Satish you have to read to policy carefully to understand the coverage which ideally in comprehensive is:-

-Damage to vehicle
-3rd party loss
-Injuiry to driver owner(see if you can find anything about this, United India mentions about this in the website ) read the amount(or you are eligible or not), if you find it inadequate buy extra policy or else not..

Thts was good info guys.......let me find the papers and go through it.....i just blindly renewed it.

Mine is new india assurance!

You are not alone there are zillions in India who are unaware... and they look at Insurance ONLY as a tax saving tool

BTW I currently work with an Insurance company called Future Generali... I had got a deal for some motor insurance offering the best of deals

Here is a Quote for a Personal Accident Policy which is a must for riders like us, Do tell me in case you are interested in this or a MOtor Insurance of anything else, drop me a mail at [email protected] or MSG xBHP-SAT to 9769992061

PS: I am not into sales and do not get any incentive for referrals and all

That is good info Satyen- a policy exlusively for accidents!
Now Satish, the two wheeler insurance, in addition to the vehicle also covers the person driving/riding the vehicle plus others involved in the accident too, in case of comprehensive insurance. I remember a case wherein 4 people met with an accident in a car&their servant died, but insurance refused to pay anything to the deceased, since he was not covered under the insurance scheme-it was 3rd party only.
Hospital charges to be recovered from either group mediclaim (office)/personal medical policies like Satyen's above mentioned one or general health insurance schemes like ICICI Prudential Life etc. which offer cashless hospitalization benefits.
in case you forgot, if you own a credit/debit card, there are certain insurance schemes through the cards too, with a nominal premium rate.
I suggest you to go in for either an accident policy, or a health policy apart from your office Group Mediclaim, as that lapses the moment you are off the company roles. I have invested in ICICI Health Care, which offers hospitalization benefits upto 80 lakhs. I pay a premium of around 11K every year, which also helps in tax savings under Section 80d.

^^ Is this allowed here..?

Satyen bhai, motor Insurance doesnt provide any tax benefit and anyways everyone here simply invests in Insurance, no one bothers to look at the benefit... btw the plan is surely tempting, whats the catch?

Please provide the name of the product, will refer to your website..

Is this a group plan or individual any benefits under 80D..?

That my friend is a Marketing jargon I used to work with ICICI Bank in Cards a decent while back.... the only difference I know off is that it offers convenience in instant debit
PS: 80Lakhs cover for 11k seems a bit high

Hey I am not selling anything man, I have better things in life to do
I know motor insurance and a lot of other covers dont provide tax benefit... what I was saying is that we look at Insurance ONLY as a tax saving cover... nothing else. Whereas an Insurance is actually a tool to safeguard against a known risk!

There are different versions of the products available in this within my company too!
You can refer for a group Cover at
Accident Suraksha : : Corporate : : Products : : Future Generali

ICICI one is available at ICICI Lombard - Personal Accident Insurance. Best Prices!
Google around there are a lot of Personal Accident product available in the market

The one available for the direct marketing channel (for which I used to design systems are)
Image - TinyPic - Free Image Hosting, Photo Sharing & Video Hosting


Like I said drop in a message, and I can arrange for a call back to you who will explain the product in detail!

Mods please delete these posts in case they seem like me spamming\selling
I just had some first hand info available because its my employers so posting it here!

3-4 months back ..my bike insurance expired..how should i renew it...how about if i purcahse insurance from any other service provider

Which company did you deal with originally, they should be having an online renewal option like Bajaj Allianze etc has!

Else try Googling you will find some options for sure!

EDIT:
For a new Insurance company you need to declare a Depreciated Value for the bike (IDV) basis which the fresh premium is calculated.
Your bike is not road legal if its not insured!

Some PSU banks offer insurance with their saving accounts and so does CC's, but then you must be knowing more them.

Too late


Kidding bhai

True, I had hard time convincing one of my friend to have atleast some basic cover.

You have a PM, ask the person/agent to be well prepared though


Better renew it asap, remember its an offence to not have atleast 3rd party insurance and secondly you will be responsible for all the 3rd party damage which ideally will be the headache of the insurance company, so you land behind the bars and also pay heavily.

@SP

Like setu said this offer is too good.....need find where my insurance documents are 1st!