It provides coverage against an individual’s medical expenses. It can either be on a cashless basis or a reimbursement basis. The person can take health insurance on an individual basis or floater basis (family plan).
It is a mandatory policy issued to all vehicles which cover losses arising to the owner’s as well as to the third party. As per the Indian Motor Vehicles Act’1988, third party insurance is a must for every vehicle, without which you can’t drive your vehicles on the roads.
These type of policies covers your home and/or contents from risk of losses/damages against any unforeseen events like fire, theft etc. The landlord can buy the policies against their physical assets and at the same time, the tenant can also buy the policy to cover the household contents. This way you can enjoy your vacations stress-free since the assets and the contents are already covered against any unforeseen events.
You will get a rebate if your house is covered through 24-hour security guards and are having well-equipped fire extinguishers, water sprinklers etc.
You have to keep in mind that these policies cover the construction cost only. The insurance companies have generally fixed rates of construction for different localities. Therefore, it is always advisable to take the sum assured based on the cost of construction only.
The coverage provided by the insurance company focuses on the service delivery's alleged failure, which has led to financial loss due to errors and omissions in the services or consultations.
It covers all legal liabilities arising out of negligence, omissions or errors of professionals while rendering services that cause damages to third party property or the third party itself.
