What Is The Difference Between Comprehensive And Third Party Insurance?

What is Return to Invoice?

Return to invoice cover (RTI) is an add-on available under the own damage section of the insurance policy. The issue with comprehensive car insurance is that it doesn’t cover the depreciation in case of the total damage of the vehicle. In a total loss scenario, if you have comprehensive insurance the Insured Declared Value (IDV) will be paid to you. This claim amount would not be sufficient to purchase another vehicle.

What is Comprehensive Insurance in India?

Comprehensive insurance meaning is to cover the loss or damage due to any of the insured peril acting at the time of the accident. Third party insurance covers only the legal liability arising out of bodily injury or death of third parties due to an accident involving the insured bike. Third party section also covers the property damage of third parties involved in the accident.

What is First Party and Third Party Insurance?

In first-party insurance, the benefits are for the insured car and its owner as well as the third party if needed. Third-party insurance policies only take care of damages or injuries/death of third-party property or persons.

What is Subrogation in Insurance?

The principle of subrogation states that the rights of the insured property would be transferred to the insurance company after the claim is paid. Once the claim is paid to the insured, the damaged property would be owned by the insurance company so that the insured cannot be benefited from both the claim amount and from the proceeds of selling the damaged property.

What is PolicyBachat and How does it help with my Life Insurance Policy Purchase?

PolicyBachat is an online insurance web aggregator which helps in selecting the best insurance policy for its customers based on the customer’s requirements. We at PolicyBachat provide the customer with a wide range of options to select from. The best life insurance policy can be selected online from our portal. We even provide assistance to our customers in selecting the best life insurance policy based on the requirements of the customer.

How Do Insurance Companies Make Money?

Most insurance companies make money in two ways: Charging premiums to the policyholders and investing the insurance premium payments.

Why buy insurance online?

There are many different types of insurance and it can be difficult to decide which one is the best for you. However, by purchasing insurance online, you are able to compare different plans and find the one that suits your needs.

Here are some of the benefits of buying insurance online :

• You can compare plans and find the one that suits your needs
• You can save money on your current plan by switching providers

can husband and wife both claim maternity insurance?

Yes, it is possible to husband and wife both claim maternity insurance.

Can a policyholder nominate anyone for his Insurance Policy?

Yes. The policyholder can nominate anyone for his insurance policy.