Is Engine Failure Covered Under Car Insurance?

Your car's engine is its heart, and if it has gotten old, it won't run smoothly. The engine might sustain damage if it is not properly maintained, incurring high repair or replacement costs. One of the most expensive components of the car is the engine.

While you might already have auto insurance and believe that your insurer would cover the expense of an engine failure. But will your insurer provide coverage for engine repair or replacement?

Car engine failure reasons

Failure of the engine can be quite expensive. Therefore, it's crucial to comprehend the typical reasons why a car's engine could fail. Here are a few typical causes for car engines to quit working.

Engine overheating

The engine may start heating up if your car's cooling system is broken or the head gasket has ruptured, increasing the likelihood that the engine may fail.

Less motor oil

Low engine oil levels can cause the engine to wear out prematurely, which frequently leads to engine failure.

Water ingress

Water ingress is another frequent cause of engine failure, particularly in regions with frequent rainfall.

Oil leaks, engine combustion, improper fueling, and failing to pay attention to the engine oil light are a few other frequent causes of engine failure.

Does car insurance cover damage to the engine?

Only if you have comprehensive auto insurance does automobile insurance cover engine damage. Consider a scenario in which you have car insurance and a traffic accident occurs. The car insurance coverage will pay for the damages to the vehicle. A car insurance claim can be submitted only when an accident causes engine damage.

On the other hand, a car insurance policy will not cover the damage if the engine of the vehicle is damaged due to negligence or normal wear and tear. The car's engine will not be covered in the event of mechanical failure.

Car insurance does not cover costs that are not directly related to theft, fire, or accidental damage. However, you can choose an engine protection add-on if you want to pay for any loss or damage to a car's engine.

What is an engine protection add-on?

Engine protection cover is an optional coverage that you may add to your basic auto insurance policy for a fee. This add-on offers protection for a car's engine even if it arises from a non-accident situation.

The engine protection add-on covers the expense of repairing or replacing an automobile's engine and its components. For instance, when it rains heavily while you're driving, the automobile is inundated in water, which damages the engine. In this case, an engine protection add-on will cover the expense of repairing any waterlogging-related engine damage that occurred to the vehicle.

When is engine damage covered by car insurance?

Engine damage is covered by auto insurance in the following situations:

·         A collision that damages the engine

·         If the engine stops working as a result of water damage

·         The engine was vandalized

·         Engine has caught fire

Engine damage is only covered if you have the necessary insurance.

When does engine damage not qualify for coverage under a car insurance policy?

In the following situations, there is no insurance coverage for engine damage:

·         Engine deterioration over time

·         Engine failure brought on by a shortage of lubrication

·         Mechanical failure of the engine

Coverage offered by the engine protection cover add-on

Engine protection add-on insurance offers protection for the engine in the event of harm to the car's engine, harm to the gearbox, lubricating oil leakage, harm to hydrostatic lock, harm to the undercarriage, and labor and consumable costs are also covered.

The engine protection cover add-on does not offer coverage for harm brought on by a forced start, indirect harm, ordinary wear, and tear, etc.

Is it worth buying an engine protection cover?

Here are some reasons why buying engine protection insurance may be a wise decision if you're on the fence about it.

·         Even without being engaged in an accident, you receive financial protection in the event that your car is damaged.

·         If you live in a flood-prone area, the policy is appropriate because it covers damages caused by water ingress.

·         Adding engine protection cover will reduce your out-of-pocket costs.

Conclusion

In the event of engine damage not brought on by an accident, a comprehensive auto insurance policy will not offer coverage. However, you do have the choice to buy an engine protection cover, which can offer you security in the event that the engine sustains unanticipated damage.

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Comprehensive Mediclaim VS Regular Health Insurance Plan

 

Difference Between Comprehensive Health Insurance and Regular Health Insurance Plan

When it comes to choosing the ideal health insurance policy for you, you may be torn between comprehensive and standard health insurance. To learn more, read the following distinction between these two policies!

Insurance holders have become more cautious about their insurance options after the pandemic. And right now, one of the most important decisions to make is whether to purchase a standard health insurance policy or a comprehensive health insurance coverage.

Despite the fact that both plans are solid health insurance options, there are a few key differences to consider before making a final decision.

Standard Health Insurance Policy and Comprehensive Health Insurance

A standard health insurance policy may be sufficient to cover the bare necessities of medical check-ups and mild illnesses, but it will not be helpful in the event of a serious or life-threatening illness. To provide effective and comprehensive health coverage, it is recommended that an individual purchase comprehensive health insurance.

A Comprehensive Health Insurance Plan is advantageous because it covers the costs of routine health examinations, critical illness, and both known and unknown diseases such as COVID-19. Cashless treatment at network hospitals, childcare services, ambulance coverage, consumable fees, alternative treatment options, and pre-and post-hospitalization cover benefits are also included in the plan.

Regular Health Insurance

Regular health insurance, on the other hand, only provides a basic level of protection. They can be used to cover medical costs before and after hospitalization, as well as additional medical costs if the insured is hospitalized for more than 24 hours, such as diagnostic fees, pharmaceutical prices, doctor consultation fees, room rent, and so on.

Regular health insurance policies do not cover prescription drugs. Ambulance expenditures, daycare treatments, pre-existing conditions (with limited waiting periods), medical exams, and other expenses are covered.

To provide effective and comprehensive health coverage, it is recommended that an individual purchase comprehensive health insurance. Furthermore, riders can be added to comprehensive plans to make them more affordable for customers in the event of a future top-up necessity.

Various health insurance companies in India provide a variety of health insurance coverage. Before purchasing a plan, it is always a good idea to get professional advice or conduct extensive research. GIBL equips with all of these. We are confident that if you read the GIBL blogs on a regular basis, you will be able to make wise and informed decisions. However, if you require further support, we are only a phone call away.

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Fire Insurance | Coverage Exclusions Criteria for Purchasing

 

Fire Insurance About

Fire insurance is important for businesses because it protects them against the losses that a fire may bring. Fire insurance is critical for a country's industrial growth since it ensures that an entrepreneur, businessman, or industry owner will be compensated monetarily for losses incurred as a result of an insurance policy taken out by them.

Accidents involving fires are fairly common in the workplace. It has the potential to cause significant damage to your company's assets. The most common cause of the fire was cooking, followed by carelessness and electrical problems. All small company owners must take steps in order to decrease the danger of a fire.

Fires are damaging because they produce smoke, flames, and heat, all of which may quickly damage a building and its contents. Fires occur suddenly and wreak tremendous devastation, which may easily put your life on hold for a period of time. As a result, purchasing fire insurance to cover your home/business and its contents is sensible. Fire insurance protects you and offers coverage for any loss or damage caused by a fire.

Let's look at why fire insurance is a good idea. A fire insurance policy covers a wide range of possibilities, including:

• A fire insurance coverage protects you from any damage caused by a fire explosion, whether it is caused by movable or immovable property.
• A fire insurance coverage covers property damage caused by a fire, such as damage to an office building, furnishings, machinery, stock, and other items.
• A fire insurance coverage covers damages caused by any natural calamity, explosion, the bursting of a water tank, and so on, in addition to fire-related dangers.

What Does Fire Insurance Policy Cover in India?

It is commonly referred to as Standard Fire and Special Perils Policy because it covers a wide range of perils. Let's have a look at the policy's inclusions in the grid below:

• Fire: The policy covers any losses incurred as a result of the fire. Furthermore, any damage produced by natural heating, self-fermentation, or unrestricted burning is not covered.
• Lighting: Any damage or loss caused by lightings, such as cracks in the roof or building area, will be covered.
• Explosion: This policy includes coverage for damage caused by a fire explosion.
• Aircraft Damage: The coverage will cover any damage caused by an aircraft that results in a fire, such as articles dropped by an aircraft, airborne devices, and so on.
• Riots/Strikes, Terrorist Activity: Fire insurance covers any damage to insured property caused by a strike, riot, or other terror-mongering action.
• Natural Disaster: The coverage covers any damage to the insured property caused by a natural calamity such as a storm, typhoon, or other natural disasters.
• Landslide/Rockslide: A rockslide or landslide will cause damage to your property, and you will be covered.
• Bursting/Overflowing of the Water Tank: The property will be protected if the water tank bursts or overflows, resulting in damage.
• Bush fire: Setting fire to overgrown shrubs or plants could cause property damage. This will be covered by the insurance. Please keep in mind that the forest fire will not be covered by the policy.

Fire Insurance Policy Exclusions in India

The exclusions under a fire insurance policy are listed in the grid below:

• There is no coverage for nuclear hazards, nuclear waste, or radioactivity-related damages.
• There is no coverage for any damage or loss to electrical machines, short circuits, apparatus, electricity leakage, and so on.
• The policy does not cover loss/damage, theft, or expenses incurred directly or indirectly as a result of terrorist activity.
• There is no coverage for damage caused by war, invasion, civil war, riots, mutiny, or other warlike conditions.
• No coverage for stock damage/loss due to temperature changes; loss or damage caused directly or indirectly by natural catastrophes such as earthquakes, volcanoes, and other natural calamities.
• There is no coverage for loss of earnings, loss of time, or market loss, or consequential loss.

Eligibility Criteria for Purchasing a Fire Insurance Policy

The following are the requirements for purchasing a fire insurance policy:

• Any individual, organization, institution, or enterprise that may be affected by a fire or has to protect his or her business from an unforeseeable tragedy.
• Anyone who owns a structure, furniture, or other domestic items.
• Retailers, shopkeepers, and godown keepers are all terms for the same thing.
• Banks, financial institutions, educational institutions, research institutes, and so forth.
• Hotel proprietors, medical clinics, hotels, clinics, and other service providers are examples.
• Transporters, as well as manufacturing and industrial enterprises.

Guidelines for Filing a Fire Insurance Claim

If approached correctly, filing a claim for fire insurance is simple. The processes to claiming your fire insurance policy are as follows:

• First and foremost, notify the insurer as soon as possible if you have an unfortunate event for which you need to file a claim.
• Provide a full report of the damaged [properties, as well as an estimate of the cost to replace them].
• If the surveyors rely on you for any kind of assistance or new information, it is critical that you comply with them.
• Assist the surveyor in any way you can. It may seem inconvenient, but touring damaged properties is preferable. This will allow for a rapid resolution of the claim.

Choosing the Fire Insurance Sum Insured

One of the most significant aspects of an insurance policy is the sum insured. It is critical to exercise extreme caution when selecting a sum insured.

When determining the sum covered for a fire insurance policy, keep the following factors in mind:

• Building
• Stock
• Valuables, precious materials, or antiques
• Furniture or other important personal assets
• Plant and machinery

Fire Insurance Add-on Coverage

The insured can benefit from the following add-on coverage by paying an additional premium:

• Earthquake
• Wreckage cleanup
• Forest fire
• Lost rent
• Cost of starting a business
• Alternative lodging options
• Burning without restraint
• Stock damage as a result of temperature changes
• Contamination and leakage protection
• Consultation fees for architects, engineers, and surveyors
• Molten metal spilling cover.
• Impact loss as a result of the insured's own road/rail transportation.

How Do You Deal with a Loss in the Event of a Fire?

You can't predict a disaster, no matter how careful you are. As a result, you must remain calm in the event that such a crisis develops. In the event of a fire, call the local fire department, who will assist you in putting it out. If another person's property is damaged or destroyed as a result of the fire or the attempt to put it out, the insurance must reimburse them.

At the time of loss assessment, notify the insurer and work with the supervisor. If the surveyor takes a long time to come, you can take photos of the loss and move all of the non-affected valuables to a secure location. Fill out the claim form and send it in with the supporting documentation. Submit all bills to the insurer after the damages have been repaired or replaced.

Summing up

It is recommended that you purchase fire insurance coverage to protect your house or property from any fire-related dangers. However, you must exercise caution, recognize dangers, and comprehend the nature of your asset. You will be able to make an educated and smart decision about the best fire insurance coverage this way. Make sure you understand the terms and conditions of the fire insurance policy schedule before signing on the dotted lines.

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Car Protection Tips to Safeguard Your Vehicle This Diwali

 

We're getting ready to celebrate the festival of light with a lot of pomp and ceremony, delicious food, and pleasant presents as it approaches. This is the time of year when we light candles to symbolize the enlightenment of the soul and the triumph of good over evil.

Diwali is the festival of lights, which is celebrated with great zeal. This event brings joy and provides an excuse for social gatherings. Fireworks, on the other hand, is an essential part of the Diwali celebration. Most people take safety precautions for themselves, but frequently overlook their vehicle's protection.

If you don't take precautions, the firecrackers may cause harm to your vehicle, ruining the party spirit. It is entirely up to you to take the best possible care of your vehicle. As a result, it is recommended that you park your car in a covered place, keep windows closed, and take other precautions to avoid such unpleasant situations. Most significantly, make sure you have an active comprehensive car insurance policy to alleviate the stress of financial loss during Diwali. If your car insurance coverage is about to expire, Diwali is an excellent time to renew it. Now let's look at safety advice for keeping your car safe during Diwali.

Park your vehicle in a covered parking lot

During Diwali, there are many fireworks in the sky; children in the society compound or on the road like playing with crackers, which can cause external damage to parked cars. Furthermore, fireworks leftovers might cause a fire, resulting in disasters such as bursts or substantial damage to your vehicle. As a result, you should not take any chances and park your automobile in a basement or other enclosed place away from fireworks.

Avoid using a car body cover

Many individuals use body covers to protect their cars from dust. However, you should avoid doing so around Diwali because these covers are not fireproof and are prone to catching fire. Any firecracker or blazing rocket that comes into touch with the automobile body cover might cause a serious fire, which can severely damage your vehicle.

Keep the windows of your car closed

When you're parked or on the road, make sure the car windows are closed. The inside of cars is flammable and can readily catch fire if a firework approaches the vehicle. Keeping the windows shut reduces the risk of catching fire by preventing fireworks from entering the car.

Always have a portable fire extinguisher with you

Car owners should maintain portable fire extinguishers in their vehicles as a precaution. This can help you avoid a serious mishap. A fire extinguisher can also come in helpful if your car catches fire for whatever reason, preventing damage or injuries.

Stay alert while driving

Stay thoroughly aware of your surroundings while driving during Diwali. Keep an eye out for persons who are setting off firecrackers near you, as this might cause confusion and lead to an accident. Most importantly, make sure your vehicle's fuel pipe is kept at a safe distance from any nearby firecrackers.

Do not mix drinking and driving

Many folks drink to commemorate the happy occasion with their pals. Make sure you don't drink alcohol before driving during Diwali, as you won't be able to keep focused on the road and could be risky. Furthermore, drinking and driving are unlawful, and you will be unable to file a claim for damages to your vehicle under your car insurance policy.

Keep a first-aid kit in your car

Crackers can cause severe burns and accidents. As a result, it's a good idea to keep a first-aid kit box in the car in case you get harmed or suffer burns from firecrackers. Playing with firecrackers should be done in an open environment with plenty of open space. You should be concerned for the safety of yourself and your loved ones, as well as ensure that your celebration does not harm others in society.

Final words

Driving has a certain amount of risk, especially when traveling great distances in uncharted territory. Road accidents are on the rise at an alarming rate, and repair shops aren't always easy to find. In such a situation, a great deal of thought and preparation is required in order to plan a safe and worry-free road journey.

Your vehicle's safety should always be a top priority. Even if you're in the mood to party around Diwali, make sure you take all necessary precautions to protect your vehicle. Even a small amount of irresponsibility can result in serious consequences, such as having to pay for car damage. If your policy is about to expire, consider renewing it with GIBL.IN and enjoy attractive discounts on premium.

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What is Marine Insurance

 

Marine insurance is a form of policy that protects cargo, ships, vessels, terminals, etc., in which commodities are transported from one point of origin to another from damage or loss. Marine insurance covers loss or damage to a shipment/cargo/ship when it is aground, as well as risks such as sinking, collision, fire, weather conditions, navigation mistakes, theft, jettison, incorrect carrier stowage, hook damage, strikes, war, and natural disasters.

International trade entails enormous risks. Importing and exporting goods can result in significant financial losses if overseas shipments are damaged or destroyed while en route.

Marine Cargo Insurance not only provides the best safety for your cargo, but it also recognizes the need for a quick response and efficient service when it comes to managing claims. The coverage is broad and versatile, catering to both importers’ and exporters' needs, with international shipments insured from the time they leave the seller's warehouse until they arrive at the buyer's warehouse.

Special Features of Marine Insurance

A marine cargo coverage covers the insured products against material damage regardless of the purpose for shipping them. Some of the advantages of purchasing marine insurance in India are listed below:

• Comprehensive Coverage: A marine cargo insurance coverage protects the items against all conceivable maritime-related risks while in transit.
• Easy Customization: Customers can easily customize and adjust the plans to meet their specific needs.
• Flexibility: The plans are adaptable and offer a variety of options to meet the needs of the insured while staying within their budget.
• Claim Survey and Settlement Support: This insurance policy relieves the claim burden by providing worldwide claims settlement assistance as well as a claim survey.
• Extending Coverage: With this policy, you can increase your coverage with add-on benefits and cover the risk of strikes, riots, and other events.

A marine insurance contract is a way of decreasing the risk of financial damage to property such as ships, cargo, or other moveable maritime transport by paying a premium to the insurer in exchange for a quick insurance quotation. The risk is provided by the insurer, who protects the shipowners or cargo owners against loss or damage to the ship or cargo. However, when it comes to the operation of the marine insurance industry, several national regimes exist.

In case you are looking for the best Marine Insurance policy to secure your business, it’s the right time to can get in touch with GIBL.IN immediately.

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Challenges of Cashless Mediclaim

 

A lot of insurance companies in the country provide cashless mediclaim policies. This program provides consumers with a simple way to protect themselves against rising medical costs in the event of hospitalization, without having to pay anything out of pocket.

To activate the cashless facility, insurance companies work with a number of hospitals around the country. These affiliated hospitals are also referred to as "network hospitals." When you seek treatment at one of these network hospitals, your insurance company takes over and pays all of your medical expenditures.

In the event of a medical emergency, cashless mediclaim coverage can let you relax by providing total financial support. It's a lot easier than dealing with reimbursements, where you have to pay your medical expenditures out of pocket first and then have your insurance company repay you.

Different Types of Cashless Mediclaim Policies in India

There are a variety of cashless mediclaim policies available today in India. These are some of them:

• Individual cashless medical insurance policy: This sort of cashless medical insurance policy provides financial help to the policyholder. According to the insurance plan, a certain amount of medical coverage is supplied, which can be used to claim hospitalization expenditures as needed.
• Family floater cashless mediclaim policy: This type of cashless mediclaim policy provides coverage for all members of the family under a single policy with a single fixed sum insured. The covered members can use the financial help given under the family floater insurance for hospitalization expenditures during the policy period.
• Senior citizen cashless mediclaim policy: This form of the cashless medical insurance policy helps senior persons financially. The cashless mediclaim coverage for older citizens is designed to help them manage their hospitalization costs at the most critical times.

Challenges of a Cashless Mediclaim Plan Include: 

While the cashless mediclaim policy system is a significant advancement in the insurance industry, it still has a few quirks to work out. The following are some of the drawbacks to using this feature:

• Unavailability of network hospitals: To make use of the cashless mediclaim service, you must visit only those hospitals that have been designated as network hospitals. As a result, you must be familiar with all of the hospitals on this list; otherwise, you may find yourself in danger during a medical emergency.
• Partially claim settlements: In some circumstances, the insurance provider only pays a portion of the claim in a cashless settlement. The rest is left to reimbursement, which means you'll have to pay out of pocket to cover the rest of your emergency expenses.
• Time it takes to process a claim: In some emergency situations, you may need to obtain approval from a Third Party Administrator, which may cause your claim to be put on hold. Only once they give you the go-ahead to facilitate cashless mediclaim can you acquire financial aid. During these instances, the insurance provider may ask you to shoulder the cost at first and then be reimbursed later.
• Exclusions: There are a lot of treatment costs that your medical insurance does not cover. Registration fees, food and toiletry costs, documentation costs, dental procedures, and other costs may be included. That is why, before purchasing a plan, you should thoroughly read all of the terms and conditions to avoid being surprised later.

Visit GIBL.IN, one of India's premier insurance broking portals, to learn more about cashless mediclaim policies. Their team of seasoned experts will walk you through every stage of the insurance purchasing process.

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Top Features of Hospital Cash Insurance

 

In the event of hospitalization, a daily hospital cash benefit gives a lump sum payment that can be spent as needed by the insured. The funds can be used to cover additional expenses not covered by health insurance or to compensate for lost income while in the hospital.

Choosing the best health insurance plan for yourself or your family has become a difficult undertaking. Because there are so many insurance alternatives, it's difficult to know what to choose and what to leave out. When purchasing health insurance, there are a few things to consider. These include:

•  Funds
• Coverage
• Waiting Period
• Premium Amount

The cash released while utilizing the benefits of a health insurance policy are the most crucial of all of these. The daily hospital allowances are not included in the majority of health insurance coverage. Even if they do have such a clause, the sum is insignificant.

It is well known that minor financial expenses while hospitalization can add up to a significant sum. You'll need another insurance plan that can be used in conjunction with your current health insurance plan to provide you with additional coverage in the event of an emergency.

What Is Hospital Cash Insurance?

Hospital Cash Insurance is a type of insurance that pays a set amount for each day of hospitalization that lasts longer than 24 hours. It is a fixed daily amount paid to the policyholder to cover various expenses incurred while in the hospital.

 The daily cash benefit is normally included in a basic plan, but it can also be purchased as an add-on. A separate hospital cash insurance plan is offered by several health insurance companies. In addition, in the case of ICU admissions, the daily hospital cash reward is doubled.

The insured can use the Daily hospital cash benefit to pay for medical bills that are not covered by a comprehensive health insurance plan, as well as meet any additional costs incurred during the hospitalization.

The daily hospital cash benefit amount is set, and if the actual cost is less than the daily benefit limit, the insurer will not request an additional payment.

In simple terms, hospital cash insurance is a policy that pays you a daily hospital allowance of between Rs. 500 and Rs. 1000 if you are admitted to the hospital. The hospital cash allowance is frequently purchased as a supplement to a personal or family health insurance plan. In India, the majority of health insurance plans include hospital cash insurance at a discounted rate.

What Are the Advantages of Purchasing Hospital Cash Insurance?

• Hospitalization cash on a daily basis: When a person is admitted to the hospital, there is a good chance that they will be accompanied by someone. Although the patient's expenses are covered by insurance, the demands of the person who is caring for them may incur additional costs. A daily cash allotment can assist you in covering these additional costs.
• Tax advantages: Taxpayers may be able to save money on their annual tax bill by purchasing a hospital cash insurance policy. The tax advantages vary from individual to person.
• Premiums that are within your budget: With Hospital Cash Insurance, you can get low premiums.

Why Buy Hospital Cash Insurance Policy?

The major reason to purchase hospital cash insurance when purchasing health insurance is to have some extra cash on hand in the event of an emergency.

Depending on the type of plan you choose, the hospital cash allowance can last up to 30 days. When purchasing health insurance for senior people, hospital cash insurance is extremely crucial to consider. This is because if an elderly person is in the hospital, you may require someone to care for them on a daily basis.

Final words

We all want to be in the greatest health possible. Nobody expects to get sick or harmed. However, everyone needs medical care and attention at some point in their lives due to unanticipated circumstances such as illnesses, medical conditions, or injuries sustained in accidents.

Healthcare expenses, on the other hand, appear to be rising at an alarming rate, burning a hole in the purses of those seeking professional medical care. A health insurance policy is recommended to protect you financially from escalating medical expenditures.

 Hospitalization costs will be covered by a health insurance plan. While a basic health insurance policy will cover your medical payments, there are a number of extra fees, such as medical diagnosis costs, food costs, transportation costs, patient attendant lodging costs, and so on, that will require you to seek financial assistance or deplete your savings. In this case, you'll need a financial safety net that will give extra cash to cover these unexpected costs. A hospital cash insurance plan works as a financial supplement to your health insurance plan, allowing you to easily cover these additional costs.

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