Car Insurance: Here�s What You Should Know

Car Insurance: Here�s What You Should Know. If you are the owner of a car, then a Car Insurance policy is a must to protect your vehicle from damage, theft and mishaps. Read on to know how a Car Insurance policy helps.

In simple terms, any damage to property, injury or death caused to any third party is covered under this. A comprehensive auto insurance safeguards your vehicle against most eventualities, including natural calamities, breakdowns, and can also protect components typically not covered by a standard insurance.

In this article, we discuss the need for a car insurance, and what should be considered before buying car insurance.

What All A Comprehensive Car Insurance Covers

Besides the third party insurance, a comprehensive policy can cover the following.

1. Protection from natural calamities: This covers things that are not in your control, natural disasters like earthquakes, floods, hurricanes, lightning, storms, cyclones, landslides and tsunamis.
2. Personal Accident Cover: This protects the insured in case of injury or death due to mishaps.It will secure your family�s future in case you suffer permanent or temporary disability or death in the eventuality of an accident.
3. Robbery or terrorist attacks: A comprehensive policy comes to your help when there is a terrorist attack, robbery or damages due to an accident.
4. Breakdown Assistance: The policy also comes to your aid when you have a breakdown in terms of flat tyre or fuel shortage. The on-road repair cover assists you with an access to the mechanic, towing of the vehicle and accidental repairs or replacements of tyre and tubes.
5. Lost Key/Lockout Assistance: This will assist you in case there is a loss of, or damages to, or the replacement of, the car�s keys, locks or alarm system.

Read Also How Car Insurance Work In India?

Things To Keep In Mind For A Strong Claim

• Keep your vehicle always in a road-worthy condition with proper insurance-related documents.
• If a person other than you is driving the car, ensure they have a driving license and are not driving under the influence of alcohol or drugs.
• In case of an accident with a third party, ensure you take them to the hospital immediately.

Keep all the above in mind while going for a comprehensive car insurance and do compare offerings by different companies to grab the best deal.

Different Types of Car Insurance

There are two types of car insurance products � Third Party Insurance and Comprehensive Insurance.

As mentioned above, third party insurance is mandatory which covers the vehicle owner from legal liabilities caused by death or damage caused to a third party.

The second type is the Comprehensive Insurance Policy. This provides overall protection for any damages caused to your own self and your vehicle. Additionally, this also protects your vehicle against accidental fires, theft, or natural calamities.

Like any insurance product, you need to pay an Annual Premium to avail these benefits. Your car insurance premium is based on factors like the model of the car, purpose of the vehicle (personal or commercial), safety devices installed within the car, and the insurance zone, which is the area of your residence and location where your car is registered.

Read Also Things To Keep In Mind Before Buying Auto Insurance

What Is Typically Not Covered

Most car insurance policies don�t cover the following.

1. Aging, wear and tear, etc. of the vehicle
2. Depreciation
3. Electrical or mechanical breakdown
4. Damage to tyres and tubes. However, if the vehicle is damaged at the same time, the liability of the company will be limited to 50% of the replacement cost.
5. Damage caused by a person driving without a valid license.
6. Damage caused due to drunken driving or driving under the influence of drugs.

Loss/ damage caused by war, mutiny or nuclear risk.

5 Factors To Consider Before Take A Car Loan

5 Factors To Consider Before Take A Car Loan: A Car Loan comes to your aid when you are short of funds. Read on to know what factors can help you in grabbing a good deal.

This is where a Car Loan comes to your aid. It adds up the deficit amount, enabling you in fulfilling the dream. The payback mode is via EMI�s over a mutually agreed period. 


Here are the "5 Factors To Consider Before Take A Car Loan"

Ensure Loan EMI Stays Within Payable Limit

EMI affordability is another factor that you should certainly check before taking a loan. You should assess and calculate all your expenses before taking a call on how much Car Loan EMI you can afford. It will be wise to ensure that your Car Loan EMI along with any other existing EMIs (home or any other loan) do not cross 40% of your monthly income. You can also choose to close any unwanted loans before applying for a Car Loan to ensure you stay below the threshold limit for easy repayment without facing any financial burden.

Processing Fee Charges

The processing fee is the percentage of your loan amount that banks charge for processing your loan. It varies from bank to bank. Many banks often waive off the processing charges through special offers or discounts. When a bank waives off your processing fees, be cautious and do check that no other charged has been introduced or a higher interest rate has been charged to offset their loss.

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Know The pre-closure Charges

There are some banks which levy pre-closure or pre-payment charges. While selecting a lender for your Car Loan, you should check about the pre-payment charges. It would be wise to read all the documents to avoid falling prey to hidden charges. Clearing your debt before the end of the loan tenure is not a crime, however, you should not be penalized unnecessarily for such a good deed.

Interest Rate

The rate of interest is one of the most important factors to consider as it will decide your monthly EMI outgo.  Since the figure varies from bank to bank, it is wise to do a comparison of interest rate offerings of different banks to bag a good deal. A lower interest rate means lower EMI and lower amount of interest to be paid. You can also get a good deal if you maintain a healthy Credit Score. Negotiating a good deal would not be tough if you have good terms with your bank.

Down Payment

Car Loans nowadays are available for up to 100% of the ex-showroom cost of the vehicle. While this may appear to be a great and attractive option, but it means that you will have to pay higher EMIs to clear the debt. While looking for a Car Loan, try to arrange for a down payment that can keep the EMIs lower. You should also opt for a shorter tenure to reduce your interest cost. This may mean higher EMIs, but do it only when you are not compromising on your other financial and investment goals. It would be wise to go for a loan only after you have saved enough for your Car Loan down payment. For example, if you are looking for a Car Loan worth Rs. 7 Lakhs with an interest rate of 12.5% for a 5-year tenure, the total interest payment will come to Rs. 2,44,913. Now if you down pay Rs. 2 lakhs and seek a loan of Rs. 5 lakhs, the interest component comes down to 1, 74,938 resulting in a saving of Rs. 69,975.

Popular Education Loans In India for Students

Education Loans In India for Students: Planning to go for higher studies? Securing the right Education Loan could be a daunting task. Here are 4 popular Education Loan schemes in India to help you pick one that fits your needs. 

Here is a list of four popular Education Loan schemes in India:

1. State Bank of India�s Student Loan

Loans under the SBI Student Loan Scheme are available for all job-oriented professional, technical graduation degree courses, including diplomas, graduation and post-graduation courses.

Under this scheme, you can get a loan up to Rs. 10 lakhs for higher studies in India, and 20 lakhs to study overseas. The SBI student loan comes with no processing fee and offers an interest rate of between 8.30% � 10.70%. The repayment of the loan commences one year after completion of the course or 6 months after securing a job.

The scheme covers expenses such as the cost of a two-wheeler up to Rs. 50,000, travel expenses, fees payable to the school/college/hostel, purchase of books, etc.

2. United Education Loan Scheme

The scheme offered by the United Bank of India is for meritorious students seeking higher studies in India and abroad. The loan is applicable for all post-graduation and professional courses like engineering, medical, law, etc. Courses offered in India by reputed foreign universities and evening courses of approved institutes are also covered under the scheme.

Under this scheme, you can get a maximum loan of Rs. 10 lakhs for studies in India and Rs. 20 lakhs for studying overseas.

Repayment of Loan:

For loans up to Rs. 7.5 lakhs � not exceeding 10 years.

For loans above Rs. 7.5 lakhs � not exceeding 15 years.

Rate of Interest:

Up to Rs. 7.50 lakhs:  10.95%

Above Rs. 7.50 lakhs: 10.90%

The scheme offers 0.50% concession from the card rate to all female students.

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3. Axis Bank Education Loan

The scheme aims to provide financial assistance to students who want to pursue professional or technical education in India or abroad. You can avail a minimum loan of Rs. 50,000 and maximum of up to Rs. 75 lakhs for studies in India and abroad.

The scheme also offers zero processing, pre-payment and pre-closure charges, which makes it an attractive option.

Eligibility:

You are eligible to apply for Axis Bank Education Loan if you meet the following criteria:

• Secured at least 50% marks during HSC & graduation
• Secured admission in India or abroad through an entrance test / merit-based selection process post completion of HSC (10+2)

Rate of Interest:

Up to Rs 4 lakhs: 15.00%

Above Rs. 4 lakhs and up to Rs. 7.5 lakhs: 14.50%

Above Rs. 7.5 lakhs: 13.50%

4. HDFC Bank Education Loan

HDFC Bank offers an Education Loan of up to Rs. 10 lakhs for studies in India and Rs. 20 lakhs for studying overseas. The loan is offered to all Indian citizens aged between 16-35 years.

As a loan applicant, you don�t need to provide any collateral for loans up to Rs. 7.5 lakhs and for loans greater than Rs. 7.5 lakhs, the bank requires tangible collateral like a house, car, land, etc. Besides offering quick disbursal and easy repayment, it also gives you the option to secure your loan by opting for insurance protection through the Credit Protect scheme from HDFC Life.

Other loan options

Pradhan Mantri Vidya Lakshmi Karyakram

If you are tired of visiting every bank�s website to find and apply for the best Education Loan, then Pradhan Mantri Vidya Lakshmi Karyakram is just what you need!

It is an Education Loan portal launched by the Government of India where students can apply for a loan to multiple banks on a single platform. All you require is to register on the website, fill out a simple form and apply. That�s not all! The website helps you track the status of your loan application, provide feedback directly to banks in case of any complaints, etc.

HDFC Credila Education Loan

HDFC Credila offers customised solutions and offers different interest rates depending on the institute, co-borrower details, collateral security offered and the academic background of the student.

It offers loan both for studies in India and abroad. There is no upper limit on the loan amount being offered by Credila and it covers the entire tuition fee as determined by the college/university. The scheme also covers up to 100 percent of other expenses including living and hostel expenses, travelling expenses, examination fees, travel fare, etc.

Car Insurance Florida

Car Insurance Florida

Car Insurance Florida http://elitebusinessinsurance.com/personal-auto/ . Learn how to find the cheapest possible auto insurance quotes in the state of Florida. 1-800-850-8819 It's so simple.... What is a Personal Auto Insurance Policy? A personal auto insurance policy is purchased by vehicle owners to reduce the costs associated with getting into an auto accident. Instead of paying out of pocket, people pay the premiums to an auto insurance company. It is the insurance company that then pays all or most of the costs associated with an accident or other type of vehicle damage. How are the premiums paid in an auto insurance policy? The premiums paid for this type of insurance vary in regards to age (younger drivers are typically more expensive because they have less experience on the road), gender (male or female), , accident and moving violation history, just to name a few.

Most states have a requirement, known as a mandate, that vehicle owners purchase a minimum amount of auto insurance. We recommend that you do not just purchase the minimum requirements, but rather take the responsible route and become educated on the proper coverage you may need for your vehicles. A poor driving record or the desire for more complete coverage will lead to higher premiums. However, you can reduce your premiums by agreeing to take on more risk, which means increasing your deductible. How does a deductible work? Whenever someone has a deductible on their policy, this means that it is the first monies being paid when an accident/damage occurs before the insurance company pays the agreed upon limits. Ex) Joe has a $500 collision deductible and gets into an auto accident with another vehicle.

Joe's vehicle has $700 worth of damages. Joe will pay $500 out pocket and then Joe's auto insurance company will pay the additional $200. How can Elite Business Insurance help you decide which company is best to use? Here at Elite Business Insurance, LLC, we make sure to shop hundreds of carriers for each client. Known throughout the industry as an established independent insurance agency gives us an advantage to the everyday business owner.

Rather than placing a square peg in a round hole, we mold your specific personal auto insurance needs into various scenarios offering the best possible carriers with the best prices. Give us a call to obtain your FREE QUOTE 813-922-3055!!! We look forward to helping you... Please subscribe to my channel http://elitebusinessinsurance.com/personal-auto/ Related search terms: car insurance florida quotes car insurance in florida car insurance florida cheap car insurance florida rates car insurance florida reviews auto insurance florida auto insurance quotes florida florida auto insurance quotes florida car insurance quotes insurance quotes in florida cheap car insurance florida cheap auto insurance florida florida car insurance http://www.youtube.com/watch?v=efe-3VuLobw .


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How to choose the best Health Insurance Plan for Senior Citizens?

Best Health Insurance for Senior Citizens: A senior citizen health insurance plan is designed to cater to the health-related needs of elderly people.  It serves as a financial guard against medical expenses that incur due to unforeseen medical emergencies. You only need to pay the premium each year to the insurer to get the sum insured which will meet high medical costs during hospitalization. This type of health plan can be availed by the ones who have acquired at least 60 years of age.

Choose the best Health Insurance Plan for Senior Citizens

Adequate sum insured: 

Due to ill health, senior citizens need frequent medical attention that increases medical bills. So when you are seeking a senior citizen health plan, it is essential to primarily assess the health condition of the person you are buying the plan and also consider the factor of health uncertainty while judging an adequate sum insured for a senior citizen. It is advisable to choose a right sum insured under the plan, considering health condition, treatment & surgery costs, medical inflation, etc.

Illnesses covered: 

People at an old age have higher chances to have some pre-existing illnesses. When going to buy a health plan for seniors, firstly you should get a medical screening to ascertain the illnesses they are suffering from and then check the number of illnesses that are covered under the health plan, you want to buy. Make sure the health plan you choose, offers coverage for all existing illnesses and major illnesses as well.

Age limit: 

Most of the insurers offer senior citizen health plan who are aged 61 years or above. Some insurance companies offer health plans for senior citizens aged up to 80 years. Some plans have restricted entry age and some plans put no age restriction for buying the health plan. It�s thus advisable to compare different health plans and choose the one which fulfills your criteria. You should choose a senior citizen health plan that offers coverage from your current age to the maximum number of years possible.

Renewal: 

For senior citizens, health policy renewal is a crucial factor that you should consider before buying. You need to check the age up to which the health plan you want to buy can be renewed. Different plans have different age limits for renewal. You need to choose the one, considering your age and health conditions. It�s advisable to pick a health plan that offers lifetime renewability, so you remain covered for your entire life.

Co-payment:

 It refers to a percentage of the claim amount that will be borne by the insured and the rest of the amount will be paid by the insurer. People usually opt for co-payment while buying the policy, as it will reduce the premium amount. However, with a co-payment clause, you might not get a complete coverage against specific illnesses.

Waiting period: 

Insurers usually offer coverage for pre-existing illnesses or other specified illnesses after some waiting period. When it comes to buying a health plan for senior citizens, you need to check the waiting period and pick a plan that has a lesser waiting period.

Read Also Tips To Choose The Best Health Insurance

Coverage under Senior Citizen Health Insurance:

In-patient hospitalization expenses: A senior citizen health plan offers coverage towards the medical expenses incurred upon hospitalization for more than 24 hours. It usually covers room rent, ICU charges, nursing, medical practitioner, surgical appliances, operation theater charges, etc.

Pre-hospitalization expenses: Expenses related to your medical treatment when incurred before the actual hospitalization is covered for 30 days to 60 days, as specified in the plan. It may include doctor�s visit, cost of medicines, laboratory tests, etc.

Post-hospitalization expenses: Expenses related to your medical treatment incurred after discharge from the hospital is covered for 60 days to 180 days, as specified in the plan. It usually includes follows up with doctor, medicines, diagnostic tests, etc.

Daycare procedures: Certain procedures/ treatments don�t require 24 hours of hospitalization because of technological innovation are also covered. Every insurer specifies the number of daycare treatments covered under the senior citizen health plan.

Domiciliary treatment: The medical treatment when taken at home under medical advice which otherwise requires hospitalization is covered under the senior citizen health plan.

Hospital daily cash: A fixed amount as hospital cash allowance is payable on a daily basis, depends on the policy terms. This cash benefit can be utilized to meet expenses that are not covered under the health plan.

Organ donor: Medical expenses incurred towards the treatment of the organ donor during an organ transplant are covered.

Ambulance cover: Expenses incurred towards ambulance service, when used to carry the insured to the hospital for hospitalization. The amount covered depends on the terms specified under the policy.

Tax Benefits under Senior Citizen Health Insurance Plan

Upon paying the premium amount under the senior citizen health plan, you can avail a tax deduction of Rs 50,000 (w.e.f 1st April 2018). Till the financial year 2017-18, this limit was Rs 30,000. If you are paying the premium for a senior citizen (yourself, spouse & parents), you are eligible to avail the tax benefit under section 80D of the Income Tax Act 1961.

Read Also How To Avoid Common Health Insurance Distress

Engine Protection Cover in Auto Insurance Must Know

Engine Protection Cover in Auto Insurance: if you are finding to know more about engine protection then here you can find what is engine protection cover in auto insurance, engine protection cover.

What is Engine Protection

 The engine repair due to water ingression costs him a huge amount of Rs 95,000 and the auto insurance cover he bought last year, did not pay for these engine repair expenses. Rajesh did not have to pay this huge engine repair cost from his pocket if he had opted for �Engine Protection Add-on Cover�. The insurance company would pay the entire cost for engine repairs or replacement.

What Engine Protection Cover offers

The engine protection cover protects you financially when your vehicle is encountered in the following situations:

• Leakage of lubricating oil: Oil lubricates the engine, and it helps to cool the engine. Sometimes your vehicle develops an oil leak through which you could lose all your oil, which leads to engine damage. It�s wise to treat an oil leak as soon as possible. With engine protection cover, expenses against repair done due to the leakage of lubricating oil are covered.
• Water ingression: If a car is restarted amidst waterlogging, it would lead to the engine damage. Water ingression is a major problem causing havoc with electrical systems in your vehicle and there is no engine that has the immunity against it. By choosing this add-on, you will get coverage for expenses against damages caused due to ingression of water in engine & its parts.
• Gearbox damages: When it comes to hassles you face in your vehicle, gearbox problem is the known one. The lack of proper fluid level or impurities lead to gear shifting issues and if you continue ignoring this issue, it would damage the gearbox which is quite expensive to repair. Expenses incurred for the repair done for damages due to gearbox malfunction are covered.
• Hydrostatic lock: Hydrostatic lock occurs when your vehicle�s engine comes in contact with water. Water prevents the engine from starting and make the vehicle into a static position. When you repeatedly try to start a wet engine, it will lead to the engine failure of your vehicle. The damages caused are covered under the engine protection cover.

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What is not included under Engine Protection Cover

An engine protection cover proves extremely beneficial, especially during monsoon. However, there are some conditions that are not covered under this policy.

• Force start: The engine is designed to shut down when it is wet. However, if you try to force start your vehicle when it is submerged under the water, it can cause serious damages to the engine. It is considered as an intentional move of damaging the engine and thus not covered.
• Consequential damages: Driving your car with a damaged bonnet, due to which the lubricating oil leaked into the engine causing it damaged. As the damage of the engine is not directly caused by the accident and thus it will not be covered.
• Validity: This add-on cover does not offer cover for an unlimited number of claims and you need to read the policy terms to ascertain the number of times your claims will be admissible.
• Age: The engine protection add-on does not offer cover for cars more than 5-year-old.

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How to pay LIC premium through Paytm Step By Step In India

Now you can pay the insurance premium of all the life insurers through Paytm including LIC of India.  Let us know how to pay LIC insurance premium through Paytm Step By Step.


1. Paytm App

To pay you LIC policy premium open your Paytm app or visit the website of Paytm through the desktop. If you do not have the Paytm app on your mobile, you can download it from Google Play Store or Apple app store.

2. Choose insurance to pay your LIC premium

You will see different bill payment option at the homepage of the Paytm application. Choose Insurance Tab from these bill services. There is on more tab about insurance is available it is  Life Insurance, this tab is to buy new life insurance plan and not for payment of renewal premium of your old policy. Please see the screenshot below.

3. Click on LIC logo

After choosing Insurance, a new page will open. Here you will see Select your Insurer. Click on it and now you will able to see name and logo of all the insurance service providers. To pay the premium of LIC of India policy, simply click on the LIC logo.

 4. Enter your 9 digit LIC policy number

 When you click the LIC logo on the previous page, you will be redirected to the new page. Here you will see LIC of India written on top and you will see a place to provide your LIC policy number. Just type your 9 digits LIC policy number and click the Proceed Button provided below.

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5.Paytm will fetch your information from LIC server.

When you click Proceed, Paytm will fetch your premium-related information from LIC servers. On receiving your policy details it will be shown to you on screen. You will be able to see you Policy Number, Name of Policy Holder, Premium due date, Number of the installment due and amount to be paid (including tax). Please review all your policy details, if found right, click on Proceed to make payment.

6. Policy-related information will be displayed.

Next, you will see a deal page provided by Paytm and its affiliates. You can choose any deal at your will or can proceed without choosing any deals or offers.

7. Choose any offer (if you want) before proceeding for payment.

Next page will be related to payment. If you have sufficient balance in your Paytm wallet, simply pay your LIC premium using the wallet balance else pay through other available options like credit card, debit card, internet banking or ATM card.

8.Pay through any payment option

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After successful payment, you will see a confirmation page, showing a success message, the amount you paid, Paytm Oder Id and your LIC policy number for which you have paid the premium. If you want you can rate the experience your payment on this page also.

9. Payment Confirmation page 

You will receive a message on your mobile number and email Id associated with Paytm. LIC premium will take 2-3 days to reflect your payment.

10. Payment information through SMS