Insurance policies which do not fall into the category of life insurance are known as general insurance. This type of insurance covers a vast spectrum of risks such as automobile, property, health, travel, and personal accidents. In India, general insurance is regulated by the Insurance Regulatory and Development Authority (IRDAI) and the policies offered can be purchased from both public and private sector insurance companies.

An array of General Insurance options can be found, including Health Insurance, Motor Insurance, Travel Insurance, Home Insurance, and Personal Accident Insurance. All types of business risks are also covered under general insurance such as professional liability, workmen compensation, cyber insurance, management liability, fidelity guarantee etc

It is crucial to have general insurance as it provides coverage against unforeseen incidents like accidents, theft, natural calamities, and liability claims for both individuals and businesses, thus providing safeguard from financial losses. The coverage offered includes protection against numerous risks such as harm to property, bodily harm, and legal fees.

Knowing when to buy general insurance depends on your personal circumstances and needs. Generally, it is recommended to purchase general insurance policies to protect against unexpected and costly events, such as accidents or natural disasters. Basically, insurance should be taken for any asset that has value and huge loss is expected in the event of harm or damage occurring to that asset.

General insurance offers many tax benefits to individuals and businesses alike. Section 80D of the Income Tax Act allows for the deduction of health insurance premiums for individual taxpayers. For businesses, the cost of general insurance premiums can be claimed as a business expense thereby reducing the net taxable income.

Yes, there are eligibility criteria to buy general insurance. The criteria may differ based on the type of insurance. For instance, for health insurance, the age limit may vary from 18 years to 65 years, and the individual should not be suffering from any pre-existing medical conditions. For other types of insurance the basic criteria is the insurability of the asset being insured, which means the asset has a verifiable value, ownership and significant financial loss is expected in case of damage or destruction of the asset proposed to be insured.

Yes, it is definitely okay to buy travel insurance online. The convenience and ease of purchasing travel insurance online have led to its growing popularity over time.

A motor car insurance policy covers various risks that car owners may encounter while driving such as accidents, third-party liability, theft, and personal injury. Car owners can secure financial protection against vehicle theft or damage costs through a motor car insurance policy

When looking for a suitable car insurance policy, taking your individual requirements and affordability into account is crucial. If you're looking for greater protection and coverage, a comprehensive policy may be the way to go. This type of policy will not only cover damages to your own vehicle in the event of an accident, but also third-party damages and injuries. Alternatively, if you have an older car that is paid off and not worth that much, a liability-only policy may be more appropriate. This type of policy will only cover damages and injuries to other parties in an accident, but may save you money on your premium.

There are several ways to get discounts, such as maintaining a clean driving record, bundling multiple policies with the same company, and installing safety devices in your car or home. Another way to save is by paying annual premiums instead of monthly instalments

The maximum amount an insurance company will provide in the event of a vehicle being stolen or irreparably damaged is known as the Insured Declared Value (IDV). This value is calculated based on the manufacturer’s listed selling price of the vehicle along with the cost of any additional accessories that were added to the car.

In insurance, risk refers to the likelihood of an event occurring that might lead to a loss. The insurer charges a premium that is directly proportional to the level of risk involved in an event. The idea behind insurance is to spread the risk among a large group of policyholders so that the financial cost of any individual loss is shared.

Insurance policyholders can file a claim with their insurer in order to receive compensation or coverage for any losses or damages they have experienced in accordance with the policy's specifications. An insurance claim is made after an event that's covered by the policy, such as an accident or injury, death, illness, damage to property, or theft.

Maturity claim refers to a type of insurance policy where the policyholder receives payment when the policy matures, which typically occurs after a certain period of time. This type of policy is commonly used in life insurance, where the insured party is paid out the value of the policy upon reaching a certain age

Before filing a claim under your policy, it's crucial to follow a set procedure. Familiarize yourself with your insurance policy to comprehend the extent of coverage and payments that you qualify for. Once you have determined that your claim is valid as per the policy guidelines, contact your insurance company or agent as soon as possible. Provide them with all necessary information related to the claim, such as the date and time of the incident, the extent of the damage or injury, and any other details that may be relevant. They may require additional documentation, such as medical or police reports, so be sure to gather and provide all necessary paperwork. After you have filed your claim, the insurance company will commence the task of scrutinizing and examining your claim and processing the payout.

Deal Plexus provides comprehensive insurance advice to individuals, groups, and businesses to help them to buy relevant insurance plan that suits their needs.