Vehicle insurance is mandatory in India without which you might have to pay a fine or face imprisonment or both. Vehicle insurance has two sections: Own damage and Third party. Third party premium is decided by the Insurance Regulatory and Development Authority of India and is the same across all insurance companies. On the other […]
Read MoreFinally, you think to yourself. God seems to have answered your prayers. Rains are here. It has rained through the night. The next day, you get into your waterlogged car and try to start it. Keech!!! The engine makes a screeching noise, but your car won’t start. You try a second time and your engine […]
Read MoreArtificial intelligence (AI) has emerged as a pervasive force, reshaping industries across the globe. In the realm of insurance industry, particularly motor insurance, AI is catalyzing transformative changes. Let’s delve into the multifaceted role of AI in motor insurance, scrutinizing its influence on underwriting processes and claim settlements. Understanding Artificial Intelligence: At its core, artificial […]
Read MoreIn the world of motor insurance, where promises of comprehensive coverage and peace of mind often collide with the unexpected, the curious case of salvage deduction leaves many policyholders scratching their heads. For the uninitiated, salvage is the value of damaged or destroyed property that can be recovered and sold after an insurance claim has […]
Read MoreMotor Insurance: Motor insurance is an agreement between an insurance provider and the insured policyholder, in which the insurer agrees to compensate the insured for any loss caused by the insured in the event of an unforeseeable incident in exchange for a small sum known as the premium. The insurance of motors has been made […]
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