General Insurance, explained simply
Protection for the things you worked hard to own.
General insurance covers things other than your life: your car, bike, home, shop or trip. If they are damaged or stolen, or cause a loss to someone else, the insurance company pays for the loss as per the policy.
It is like a helmet for your belongings. It cannot stop an accident, but it greatly reduces the hurt.
Types of general insurance
Each type does a different job. Here is what the names mean.
Motor Insurance
For cars, two-wheelers and commercial vehicles. Third-party cover is compulsory; a comprehensive policy also covers damage and theft of your own vehicle.
Home & Fire Insurance
Protects your building and the things inside it against fire, flood, burglary and similar events.
Shop & Commercial Insurance
Covers stock, machinery and premises, so one bad event does not close your business.
Travel Insurance
Covers medical emergencies abroad, trip cancellation and lost baggage or passport.
How it works
- 1
Tell us what to protect
A vehicle, a home, a shop or an upcoming trip. Each has its own type of policy.
- 2
Compare covers
We explain what each policy includes, what it leaves out, and the optional add-ons.
- 3
Share correct details
Give accurate information, such as vehicle papers or the value of your property.
- 4
Pay and get the policy
Once the premium is paid, the insurer issues the policy document.
- 5
Claim and renew
After a loss, inform the insurer quickly. A surveyor checks the damage and the claim is settled as per the policy. Renew before it expires.
A car repair claim
Jayesh has a comprehensive car policy. His car is damaged in an accident and the garage estimates ₹40,000 for repairs. He informs the insurer, a surveyor inspects the car, and the insurer pays the approved amount. Jayesh pays the policy excess and the depreciation on replaced parts.
Illustration only. The amount paid depends on the policy terms, excess, depreciation and add-ons.
Who is it good for?
- Every vehicle owner, since third-party cover is required by law
- Home owners, and tenants who want to protect their belongings
- Shop and business owners
- Anyone travelling abroad
Things to keep in mind
- A third-party-only motor policy does not pay for damage to your own vehicle
- The excess and depreciation reduce the amount you receive
- Insuring property for less than its real value reduces your claim
- A lapsed policy can cost you your No Claim Bonus
- Claims can be refused for reasons such as driving without a valid licence or under the influence of alcohol
General Insurance: questions people ask
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Still have a question?
Talk to our team. We will explain general insurance in your own language and help you compare the options. The decision always stays with you.
Disclaimer: Insurance is the subject matter of solicitation. The information provided is for illustrative purposes only. For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale. IRDAI License No: IRDAI/AGN/100984838. The information on this page is for general education only and is not investment, tax or insurance advice.