Get

Critical Illness insurance

at best price.
Cover against multiple Critical Illnesses and Surgeries
Sum insured of up to ₹2 crore
Long Term Discounts for 2 & 3 years plans
Lumpsum Claim Payout
Lifelong Renewals
You’re less than 5 minutes away from the best critical illness insurance policy. Fill out the details below, see the quotes and get your critical illness insurance policy instantly.
Exclusive discounts and offers only for Corporate Employees
Your work email ID can unlock exclusive benefits
Corporate Employee Engagement Program
Corporate Superpower
Best Price
Handpicked Insurers
Assistance from Experts
Digital Relationship Manager
Best In-Class Claim Service
Our Insurance Partners
What is Critical illness insurance?
  • Critical illness Insurance Plans are health insurance plans which specifically cover terminal & critical illnesses like cancer, stroke, heart diseases etc. Critical illness plans can be bought as a standalone plan or can be added as an add-on rider upon paying an extra amount over your regular health insurance policy.
  • A critical illness plan bought along with Health Insurance will pay a lump sum amount over and above your hospitalization cost.
  • Diseases of heart, lung, kidney etc. require regular medical interventions, hospitalizations, etc. which can drive up the cost of healthcare. Thus, getting a critical illness insurance plan can help take care of expensive treatments.
What are Benefits of buying critical illness insurance?
  • Getting quality healthcare services can be an expensive affair. Moreover, treatment costs of terminal or serious illnesses like cancer, lung disease and treatments can seriously deplete financial resources.
  • Although it is difficult to imagine getting struck by a terminal or serious illness, the practical solution is to buy a critical illness insurance plan. The benefits of the best critical illness plan include:
    Coverage of more than 30 critical illnesses like cancer, tumour, lung & heart disease, neural disease etc.
    A lump sum pay-out upon confirmed diagnosis to cover treatment costs.
    Lump Sum amount will help insured to cover any loss of income caused due to critical illness
    Quick & worry-free claim processing to help the affected individual.
    Tax Benefits. You claim tax under section 80D in India
What’s the Difference between critical illness & health insurance policy?
  • A critical illness insurance plan is different from a health insurance policy in terms of the type of coverage provided.
  • Health insurance is a medical plan which covers medical costs in case of emergencies, accidents, and other general illnesses such as diabetes, hypertension etc
  • Critical illness plans are tailor made to take care of medical expenses incurred in the treatment of a terminal or life-altering disease such as paralyses, tumours, neural disorders, renal failures etc. Your Health Insurance will pay for such ailments, but will only cover hospitalization expenses, whereas a critical illness plan will pay you a lump sum amount upon diagnosis of such ailments which will be over and above what your Health Insurance plan will pay.
  • Critical illness plans are tailor made to take care of medical expenses incurred in the treatment of a terminal or life-altering disease such as paralyses, tumours, neural disorders, renal failures etc. Your Health Insurance will pay for such ailments, but will only cover hospitalization expenses, whereas a critical illness plan will pay you a lump sum amount upon diagnosis of such ailments which will be over and above what your Health Insurance plan will pay.
Here are the key differences between Critical Insurance Plan & Health Insurance Policy:
Critical Illness Insurance Health Insurance
Only diseases which are mentioned in ‘critical illness’ list are covered under critical illness insurance policy. A general health plan covers emergency medical needs such as ambulance costs, hospitalization & treatments for emergencies, accidents etc.
It is particular to select disease and only covers medical costs required in treatment of that illness. For example- cancer care. It covers medical costs pre & post hospitalization, medical check-ups, laboratory costs etc. in case of hospitalization caused due to accidents, illnesses, or emergencies.
There are no add-ons for general hospitalization costs for medical issues other than critical illness. A health insurance plan may offer critical health insurance as an add-on benefit.
Lump sum payment upon confirmed diagnosis, even without hospitalization Medical costs are reimbursed upon submission of bills and then the claim is settled.
Variable waiting period depending on the nature & severity of illness. For example- cancer in early stages may not be covered. Fixed waiting period before plan is applicable. For example- 30 days after purchase of a health plan, it is active.
What are Critical Illness Insurance Plan ?
  • Illness & disease can be devastating for an individual and their loved ones. The high costs of treatments can cause further agony. Lifestyles which lead to stress, substance abuse and low immunity make it even more important for everyone to opt for a critical illness insurance cover.
  • The sooner an individual buys the cover, the better, as the waiting period on critical illness covers can be up to a few years.
What are Critical Illness insurance coverages?
  • Every insurance provider has a different list of diseases covered under various critical illness plans. You must go through the list of diseases covered under critical illness and understand inclusions as well as exclusions of the plan.
  • For example- many insurance providers do not provide health insurance for people with HIV/AIDS and smokers who contract a critical illness.
How Elephant.in works?
It is as easy as ABC to buy a critical illness insurance plan with Elephant Insurance!
  • Visit www.elephant.in and click on “Critical Illness” product
  • Fill in your details with requirements and put in a request for a quote.
  • Our team will get in touch with you with a customised critical illness plan.
  • Pay your premium online and get covered.
Help Section/FAQ:

A critical illness insurance plan is a plan specifically covering 'critical' or terminal diseases like cancer, stroke, heart & lung disease etc. It can be an add-on benefit on your health insurance plan or a standalone insurance policy.

The policyholder is eligible for a lump sum pay out upon confirmed diagnosis to help cover cost of treatments. There can also be a pay out to compensate for loss of income caused due to a terminal illness. Other benefits include No Claim Bonus and Tax Benefits under 80D of Income Tax Act in India.

Any person over the age of 18 is eligible for a critical illness insurance plan. If the person is healthy, with no precondition, there is no requirement of a medical check-up, and they can buy a critical insurance policy online.

There are more than 30 different critical illnesses/ conditions covered under critical illness plans. Every insurance provider has different 'critical illnesses' that they cover and you must compare different plans before purchasing one.

Almost all critical insurance plans cover cancer. However, many plans do not provide coverage after diagnosis of cancer. Some rare cancers may not be covered by a critical illness plan. Please read the list of critical illnesses covered by insurance providers before buying a critical illness plan.

The sum assured varies among insurance providers. You can choose a cover with maximum sum assured, depending on your needs, age, family history and medical requirements.
Our latest Insurance articles & videos
  • sliderImg
    Published on: 14th Mar 2024
    Understanding Coverage Options & Benefits of Family Health Insurance

    In the world of insurance, health insurance is the most sought-after. A health care insurance that covers your whole family under one single policy is called family health insurance. A determined sum is insured and shared among all the members of the family.

    It is important to diligently pick the correct family health insurance plan to safeguard your family’s well-being. However, exploring the various advantages and features can be challenging. Through this blog, we hope to help you understand the various coverage options and benefits of family health insurance plans so that you can make informed decisions for your family’s well-being.

    Understanding Coverage Options: Weaving a Safety Net for Every Need

    A range of coverage options come under a family health insurance plan, taking care of different necessities. Coverage options under a family health insurance plan are as follows:

    • Cost of Hospitalisation: Costs of hospitalisation of over 24 hours are also taken care of under a family health insurance policy.
    • Organ Donor Expenses: In an occasion of emergency when an organ transplant is fundamental, the costs of obtaining the organ and the donor-related costs are covered.
    • Ambulance Charges: Expenses of availing the ambulance service during a health-related crisis are also covered under family health insurance.
    • Pre and Post-Hospitalisation Expenses: The clinical costs generated before hospitalisation (clinical examination, tests) and after release (follow-ups) are covered up to a specific number of days.
    • In-house Treatment: Opting for medical treatment at home is an expensive deal. Having family health insurance helps in financing the in-house treatment.
    • Mental Illness Cover: A family health insurance plan helps cover costs for the treatment of mental illnesses like depression and anxiety. It also aids in covering the costs of preventive medications for the same.
    • Maternity Care: Hospitalisation and clinical costs pertaining to labour, pre-birth and post-pregnancy are covered under a family health insurance plan. Along with that, the costs of regular check-ups as well as ambulance services are also taken care of under this plan.

    What are The Benefits of Family Health Insurance Policy?

    Family health insurance plans rise above simple monetary protection, they come with a set of advantages that promote complete prosperity:

    • Affordable premiums: Opting for a family health insurance plan is low-cost when compared to acquiring personalised health insurance for each member of the family. Thus, the plan allows affordable coverage and is lighter on your pockets.
    • High coverage for all members: The sum insured under the family floater policy can be used entirely by any member who falls ill. As such, each family member has complete access to the sum insured and can avail of high coverage if you choose an optimal sum insured level.
    • Maternity coverage : This cover is allowed under many plans: For a young couple who would be starting a family shortly, family health plans having maternity coverage is a good choice. These plans allow coverage for maternity-related expenses.
    • You can opt for a comprehensive cover: Family health plans come with different coverage benefits, and you can compare and choose a plan that has the most inclusive coverage features.
    • Easy addition of members: Family floater plans allow you the convenience of adding new family members. Depending on the terms and conditions of the policy, you can easily obtain coverage for a new member, for example, a newborn child. You would simply need to request the insurer and pay an extra premium.
    • Tax benefits: The main advantage of family health insurance plans is that they open doors to tax benefits. A tax reduction of INR 25,000 will be granted when acquiring family health insurance. In the case of senior citizens, this reduction amount increases to INR 50,000.

    Conclusion

    Picking the right family healthcare coverage plan is fundamental to achieving your family’s long-term prosperity. By learning the intricacies of the various coverage options and benefits of family health insurance, you can confidently navigate the healthcare landscape and have peace of mind knowing that your loved ones are protected. Your investment in family health insurance today will be rewarding as it will ensure that your family is safe and secure.

    To clear any further doubts, please reach out to our specialists by messaging us at support@elephant.in or call us on our toll-free help number: 1800 266 9693! Visit Elephant.in to get the best family health insurance quotes!

    *Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action. Tax benefits are subject to changes in tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.| EL/BLOGS/23-24/13

    READ MORE
  • sliderImg
    Published on: 09th Mar 2024
    The Hidden Advantages of Employer-Sponsored Health Insurance

    In the present day and age, organisations have understood that their workers are a fundamental part of their prosperity and quite possibly their most significant resource. Organisations ensure that their workers are all safeguarded, similar to any of their different assets. In India’s developing healthcare landscape, employer-supported health insurance arises as a protector, guaranteeing the well-being of the employees. This blog intends to unwind the hidden benefits of these group health insurance plans, digging into the subtleties that make the most essential part of employee welfare.

    A group health insurance policy can be procured easily in 3 steps! Visit Elephant.in, fill up the necessary form, compare quotes, pay and instantly get the policy!

    Comprehensive Coverage for Employees

    Employer-supported health insurance in India goes past the essentials, offering broad coverage custom-made to meet the particular requirements of employees. From hospitalisation costs to short-term medicines, these plans act as a strong security net, guaranteeing the employees acquire quality medical care without any financial strain. Additionally, these plans frequently incorporate coverage for pre-existing conditions, making them beneficial for employees with existing medical concerns. This adds a layer of inclusivity, guaranteeing that a wide range of employees can benefit from the insurance plan.

    Financial Security During Health Crises

    In a period where there are plethora of potential threats to an individual’s well-being, employer-supported healthcare insurance gives financial security during health emergencies. It is a safeguard against high medical costs, offering employees the genuine serenity that their expenses during such emergencies are covered, lifting a heavy burden off their shoulders. Moreover, a few policies incorporate critical illness coverage, giving a single amount payout in case of serious clinical problems. This element helps with taking care of treatment costs as well as helps in tending to lifestyle changes that might be important after diagnosis.

    Cost-Effective Health Coverage

    Employer-sponsored health insurance’s cost-sharing mechanisms are one of the hidden benefits. Employers contribute to the critical portion of the premiums, making it a practical choice for employees. This ensures that a larger portion of the workforce has access to comprehensive health coverage in addition to easing the financial burden on employees. Besides, with group insurance policies, the risk is divided among a bigger pool of people, prompting favourable premium rates. This collaborative method makes health insurance more reasonable for employees, regardless of their health conditions.

    Wellness Programs for a Healthier Workforce

    Along with health insurance for staff, numerous employers incorporate well-being programs into their health care coverage plans. Standard well-being check-ups, preventive care events, and fitness programs add to encouraging a culture of prosperity, making employees more proactive about their well-being. Employers are progressively putting resources into employee health well-being platforms and applications, giving customised well-being tests and insights. This proactive methodology prevents diseases as well as advances a positive way of life among employees.

    Tax Benefits:

    Health insurance premiums paid by employers are generally tax-deductible as a business expense. Additionally, employer contributions to employees’ health insurance premiums are typically excluded from employees’ taxable income, resulting in tax savings for both employers and employees.

    Reduced Absenteeism and Increased Productivity

    Employer-sponsored health insurance assumes a crucial part in accomplishing this balance. By guaranteeing timely clinical intervention and preventive care, these plans help in reducing absenteeism which in turn creates a more efficient and productive workforce. Implementing initiatives like telemedicine services can further boost productivity. Employees will have easier access to healthcare as a result of this, and frequent medical appointments will also be less likely to cause disruptions.

    Access to Quality Healthcare Facilities

    Various employer-supported group health insurance plans have tie-ups with good clinics and medical service providers. Employees will have easier access to high-quality healthcare facilities as a result of this, making it easier for them to get the right treatment when they need it. Health camps and screenings in the workplace can elevate this advantage for employers. These on-location medical services can improve accessibility and also cultivate a proactive way to deal with health management among employees.

    Conclusion

    An essential part of employee welfare is employer-sponsored group health insurance policies. Keep in mind that these group plans are not a one-size-fits-all answer. In any case, their hidden benefits ought to be considered carefully. In embracing these benefits, organisations are not merely investing in health insurance they are investing in the prosperity and vitality of the collective future.

    To get the best quotes on employer-sponsored group health insurance, visit Elephant.in! Email us at support@elephant.in or call us on our toll-free support number- 1800 266 9693 to get in touch with our experts!

    *Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action. Tax benefits are subject to changes in tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.| EL/BLOGS/23-24/12

    READ MORE
  • sliderImg
    Published on: 07th Mar 2024
    A Step-By-Step Guide To Navigating Health Insurance Claims

    Understanding the complexities of filing a health insurance claim becomes important for financial well-being in this ever-evolving healthcare landscape of India. In this guide, we aim to simplify the claims process so that you can easily and confidently navigate health insurance claims.

    What is an Insurance claim??

    An insurance claim is a formal request made by an insured individual or entity to an insurance company seeking compensation or coverage for a covered loss or event. When an insured event occurs, such as an accident, illness, injury, or damage to property, the insured party submits a claim to their insurance provider to receive financial assistance or reimbursement as per the terms of their insurance policy.

    Assess Your Health Insurance Policy

    Before diving into the process of claims, understanding the nuances of your policy is essential. The foundation for an easy claim process is laid by knowing your policy. Know about what is safeguarded under your policy and what isn’t secured. This prevents surprises during the claim process. You must identify the network hospitals that fall under your policy. Choosing a network hospital simplifies the payment process by allowing for a cashless claim process.

    Navigating the Documentation Maze

    The claims process includes plenty of documentation. Sorting them out efficiently guarantees a problem-free and seamless claims process. Significant reports must be assembled and submitted on time to get your claim approved. The essential documents are as follows:

    • Your health e-card
    • Your photo ID proof
    • Proof of address
    • Original discharge summary
    • Doctor’s prescription recommending hospitalisation
    • Doctor’s consultation slip and prescriptions for diagnostic tests
    • Certificate from the attending doctor
    • Prescription for medicines and original pharmacy bills
    • Diagnosis reports of X-rays, blood tests, etc.
    • Other original receipts from the hospital
    • Breakup of the hospital bill
    • Ambulance receipt, if applicable
    • FIR, in case of an accident
    • & Many More based on the type of hospitalisation

    Choosing between Cashless and Reimbursement Claims

    Understanding the distinction between cashless and reimbursement claims is necessary. Both have their benefits, and your decision relies upon the situation.

    • Cashless claims: When you are utilising the services of a hospital that falls under the policy network, opt for a cashless claim. The insurer settles bills directly with the hospital, minimising your financial involvement.
    • Reimbursement claims: In non-network hospitals or specific situations, reimbursement claims come into play. Pay the bills upfront and later claim the amount from your insurer.

    Procedure to File a Cashless Claim

    To file a cashless claim, follow the steps below:

    • Choose the right network hospital for medical treatment. One can find the network of hospitals within the policy.
    • Inform the insurer 3 days ahead of time and get their approval for the claim within 24 hours of hospitalisation in cases of emergencies. Now Insurance companies are trying to approve the claim within 90 minutes too.
    • Acquire the pre-authorisation form and fill it out properly. Submit it along with your identity proof and health card.
    • The insurance provider will verify the claim and settle the medical bills and costs directly with the hospital.

    Process of Filing a Reimbursement Claim

    If you decide to get treatment in a hospital that isn’t under the insurer’s network, you should file a claim for reimbursement. Follow the steps below:

    Step 1: The initial step is generally to inform the insurer to begin the process of approval of a claim. The insurer ought to be notified 3 days in advance or within 24 hours of hospitalisation during an emergency.

    Step 2: Get a hold of the claim settlement form from the insurance agency or the hospital.

    Step 3: Settle medical expenses from your pocket and gather the fundamental bills and receipts from the emergency clinic after discharge.

    Step 4: Complete the claim form, send the vital records to the insurance provider, and you can start the most common way of documenting a case.

    Step 5: Before approval, the insurance provider will completely audit the documents submitted. The claim will be processed and the amount of the claim will be deposited into your account once the submitted documents are approved.

    Conclusion

    As we draw to a close this guide on how to understand the claims process for health insurance, remember that information is your most important tool. Consistently review and update your knowledge regarding your health insurance policy claims. Remain informed about changes in guidelines and processes to adjust seamlessly to this ever-developing landscape.

    Reach out to our specialists by messaging us at support@elephant.in or call us on our help number-1800 266 9693! Visit Elephant.in to get the best health insurance quotes!

    *Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action. Tax benefits are subject to changes in tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.| EL/BLOGS/23-24/11

    READ MORE
  • sliderImg
    Published on: 02nd Mar 2024
    Decoding Health Insurance Common Myths

    Exploring the complexities of health insurance can be overwhelming, frequently intensified by winning cases that cloud our comprehension. In this extensive guide, we plan to expose normal misinterpretations encompassing health insurance. This guide will clear the myths surrounding health insurance so that you can have a clearer viewpoint on what health care coverage genuinely incorporates and can make informed choices.

    1. Myth: Health Insurance is Only for the Elderly

    There is an incredibly popular myth that health insurance is just significant for the elderly. Going against the norm, getting medical coverage is imperative for all ages. Mishaps and disorders can happen to anybody. Having health insurance from the beginning ensures financial security in the event of unexpected circumstances.

    As opposed to mainstream thinking, buying medical coverage in one’s twenties or thirties is a shrewd choice. Getting health insurance early frequently accompanies lower premium charges, and you can collect the advantages of a No Claim Bonus throughout the years. Consider exploring policies specifically designed for young individuals.

    2. Myth: Only Hospitalisation is Covered under Health Insurance

    Another myth that revolves around health insurance is limited coverage. Medical coverage goes past covering costs for hospitalisation. Current health care coverage strategies offer a wide scope of insurance, including prescriptions, preventive vaccinations, maternity benefits, and even insurance for alternative treatments. Understanding these subtleties guarantees you take full advantage of your healthcare coverage policy.

    Exploring health insurance policies that include extra wellness benefits is advisable. The benefits usually include frequent scheduled health check-ups, immunity vaccinations and wellness events that promote overall well-being.

    3. Myth: Pre-Existing Conditions Mean No Coverage

    There’s a popular belief that health insurance will not cover already existing medical conditions. While the facts confirm that insurers investigate pre-existing conditions, it doesn’t mean a total refusal of insurance. In India, policies frequently have waiting periods for people with pre-existing conditions trying to acquire health insurance. They become qualified for insurance after the termination of the waiting period. When applying for health insurance, you must disclose any pre-existing conditions to the insurer to avoid problems in the future.

    Therefore, it is advised to explore policies with small waiting periods or opt for policies that offer insurance coverage for certain conditions after a specific waiting period.

    4. Myth: It is Expensive to Gain Access to Health Insurance

    Cost is always a concern when it comes to purchasing health insurance. It is believed that health insurance is being restrictively costly for the average individual. In any case, the realm of health insurance in India has been developed to take care of diverse financial groups.

    Plans are tailored by a variety of insurance companies with low-cost options with adequate health insurance coverage. Use online tools to analyse plans, and you may be astonished at the scope of open health care coverage policies accessible.

    Choose family floater plans, which pool all family members within a single health insurance policy, to save money. Settling on such an arrangement may reduce the sum you need to pay for medical coverage in comparison to individual health insurance.

    5. Myth: Corporate Health Cover is Sufficient

    Having corporate health insurance does not mean you should not opt for getting individual health insurance. It is not recommended to completely rely on the corporate coverage; always get personal health insurance separately.

    Corporate policies might have restrictions, and coverage might cease upon retirement or a change of employment. Having an individual health insurance policy ensures continuous coverage, offering a safety net beyond corporate benefits. When relying on corporate health cover, understand the limitations, and consider supplementing it with individual policies. This ensures seamless coverage transitions during career changes or retirement.

    6. Myth: Cost of Treatment will be Completely Reimbursed

    The percentage of reimbursement is policy specific. Most policies have a limit for room charges depending upon the total sum insured and the excess amount needs to be borne by the insured. A policy has sub-limits for other expenses like medicine, which may fall under partial reimbursement. It would be sensible to choose the perfect plan for your needs from the array of policies available.

    7. Myth: Purchasing Health Insurance Online is Risky

    In this digital era, buying anything is convenient and just a click away – health cover included. All the details are uploaded on the websites with secure payment gateways and complete privacy. Queries are addressed and information is verified online quickly. Compare and buy health insurance policies in three easy steps! Visit Elephant.in to find the perfect health insurance, tailored to your needs!

    Conclusion

    Deciphering common myths about health insurance is essential in making informed decisions. Health insurance is a dynamic and comprehensive tool that goes beyond hospitalisation coverage. It dispels the myth that it is only for the elderly and is relevant to people of all ages. By deconstructing these myths, you enable yourself to go with decisions that focus on your wellbeing and financial prosperity. In the complicated landscape of health insurance, information is your strongest ally.

    To get the best health insurance quotes perfectly fit for your needs, visit Elephant.in! Email us at support@elephant.in or call us on our toll-free support number- 1800 266 9693 to get in touch with our experts!

    *Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action. Tax benefits are subject to changes in tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.| EL/BLOGS/23-24/10

    READ MORE
  • sliderImg
    Published on: 23rd Feb 2024
    Useful Tips to Consider When Buying Insurance for Your New Car

    Buying a new car is an exciting experience, isn’t it? But it also comes with the additional responsibility of ensuring your car is well-protected and insured. Advancements in technology have now made the process of acquiring car insurance more advanced, accessible and simplified over the years. At Elephant.in, customers can compare and purchase car insurance plans online in just 3 easy steps.

    Nonetheless, you need to keep certain factors in mind while insuring your car. In this blog, we will cover some of these points.

    What Are the Different Types of Car Insurance in India?

    Selecting the best car insurance when buying a new car may seem complicated. With numerous coverages available, it is important to make a choice that is informed and reflective of all your requirements.

    • Third-Party Liability Insurance: It helps in covering the costs when one injures someone or damages someone’s property in the event of an accident. In India, the Motor Vehicles Act of 1988 has made it compulsory for all motorised vehicles to have third-party liability insurance.
    • Own Damage (OD) Insurance: This type of insurance is useful in case of damages caused to your car by natural calamities like storms, earthquakes, floods etc. or man-made disasters like riots, vandalism or theft. They cover damages that a third-party liability won’t cover. Bear in mind that while OD insurance may not be mandatory under Indian motor laws, it can only be purchased along with third-party liability car insurance.
    • Comprehensive Car Insurance: It is an all-around car insurance policy that covers you from third-party damages along with protection against damages caused to one’s vehicle due to accidents, natural disasters, theft or vandalism. Along with that it also covers the costs of hospitalisation for the driver and/or passenger, towing charges, and personal accidents.

    Often, low-cost car insurance policies offer coverage only for third-party liabilities. That means in the event of an accident, the insurer will only cover property damages or physical injury or death to the third party. Damages to your vehicle and yourself will have to be borne by you.

    That’s why it is always recommended to buy a Comprehensive Car Insurance Policy, which offers coverage for own damages, in addition to third-party liabilities. It may seem to be a little more costly, but it will prove to be helpful in the event of an accident.

    Various Factors Affecting Insurance Costs

    The cost of insurance for new car purchase can vary significantly depending on numerous factors:

    • Vehicle Type: The make, model, and age of your car influence premiums. High-end and newer vehicles often cost more to insure.
    • Driving History: Your driving record, including accidents and traffic violations, affects rates. Safe car owners typically pay less.
    • Coverage Limits: The amount of coverage you choose impacts costs. Higher coverage limits result in higher premiums.
    • Deductible Amount: A higher deductible means lower premiums, but you pay more out of pocket in case of a claim.
    • Location of RTO: The location of the Regional Transport Office (RTO) where the vehicle is registered also affects the insurance costs. Insurance providers consider your car’s registration location as one of the key factors when determining your premium.

    Understanding the Legal Requirements

    The legal requirements for car insurance in India are governed by the Motor Vehicles Act of 1988. According to the act, Third-Party Liability Insurance is a mandatory requisite for all vehicle owners. This coverage protects one against legal liabilities that arise from causing damage or injuries to third-party individuals/property in case of an accident. Personal accident cover, which is included along with the mandatory third-party liability insurance, provides coverage to cover the costs of bodily injuries or death of the vehicle owner or driver.

    Consider Additional Coverage

    Third-party liability insurance doesn’t cover own damages. While the Comprehensive Plan safeguards your car, it may overlook certain liabilities like depreciation, engine damage, consumables repair costs, and roadside breakdowns. It is better to have additional coverage plans under you to make everything even more safe under additional protection policies. They are referred to as “add-ons” and some of these are:

    • Roadside Assistance Cover
    • Zero Depreciation Cover
    • Engine Protection Cover
    • Return to Invoice (RTI) Cover
    • No Claim Bonus (NCB) Protection
    • Personal Accident Cover for Passengers

    Assess Your Voluntary Deductible

    A deductible is a part of the claim and is the amount the policyholder pays before the insurance company takes responsibility for the claim. There are two types of deductibles in car insurance namely– Compulsory and Voluntary Deductible. The compulsory deductible is an amount that is fixed by the insurer and has to be paid mandatorily by the policyholder whenever a claim arises. Voluntary deductible is the amount that is chosen by the policyholder to meet a part of the claim from his own pocket before raising it to the insurer which is not mandatory. In the case of voluntary deductible, the higher the deductible, the lower the premiums one pays.

    One must plan out their finances and decide how much one can comfortably afford in the event of a claim.

    Check for Discounts

    Did you know installing a government-approved anti-theft device in your car can reduce your car insurance premium by a considerable amount? Additionally, being a valid and recognized member of the Automobile Associations can also earn you a 5% discount on the own damage section of the premium. To find out which reductions you might qualify for, check with your insurance provider.

    Can You Buy Insurance for a New Car from Outside?

    When purchasing a brand-new vehicle from a  car dealership, you might be offered the option to get the insurance for the new car purchase right then and there. However, you can explore and select car insurance providers of your choice as long as they offer their insurance services in India. You may purchase your car insurance from Elephant.in regardless of where you purchased your vehicle from.

    Conclusion

    Purchasing auto insurance at the time of a new automobile purchase is crucial for safeguarding your financial investment and guaranteeing your safety while driving. By considering extra coverage, comparing costs, and being aware of your legal requirements, you may select the insurance policy that best suits your needs and budget. Getting into the world of insurance can get complicated, but with the presence of Elephant Insurance, no more! We have leading insurance experts who can help guide you through the entire process, email us at support@elephant.in  and get in touch with Elephant Car Insurance!

    *Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action. Tax benefits are subject to changes in tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.| EL/BLOGS/23-24/09

    READ MORE
  • sliderImg
    Published on: 22nd Feb 2024
    Factors Affecting Car Insurance Premiums

    To prevent loss or repair the damage to your car due to accidents or unexpected events, getting car insurance is vital. People tend to stay away from the process of buying car insurance as the process of acquiring one can be complex and tedious. However, getting your car insured is mandatory by law in India under the Motor Vehicles Act of 1988. Getting car insurance is very simple nowadays, as the process of buying, selling, and availing of after-sales services can be done completely online. To get your car insurance online, visit Elephant.in and get your car insured in 3 quick and easy steps!

    Before purchasing car insurance, one must understand the several factors affecting insurance premiums. The type of car you own is one of the factors affecting car insurance premiums. This blog explores how the kind of car you drive affects your insurance premium.

    Understanding the Relationship Between Car Type and Insurance Premium

    It is crucial to comprehend the connection between the type of vehicle you own and its influence on your car insurance premiums. If your car has a higher market value, the corresponding insurance premium will likely be higher as well. Conversely, if the car is priced more affordably, the insurance premium will be proportionately lower. Hatchbacks, sedans and Sports Utility Vehicles (SUVs) are the 3 types of cars majorly available in the Indian car market. The other types of cars are usually a mixture of the 3 categories mentioned. For instance, a car can have features from a hatchback as well as an SUV. When compared to SUVs and sedans, a hatchback may cost less because of its limited capabilities. Therefore, you may have to lower insurance premiums if your car is a hatchback.

    Numerous factors support the idea that car insurance premiums are linked to the type of car, including:

    Brand and Model of the Car

    The car insurance premium is influenced by the make and model of your vehicle. Even within the same model offered by a single brand, each variant can have a distinct impact on the insurance premium. This disparity arises due to unique features in each variant, leading to varying costs for parts. Cars with advanced technology often incur higher insurance premiums due to the higher expenses associated with repairing or replacing their sophisticated components. This is because, in case of an accident, the insurer covers the costs incurred for repairing or replacing these parts.

    Type of Fuel Used

    Car insurance premiums are also impacted by the type of fuel a car uses. Cars that are powered by petrol usually cost less when compared to cars that are powered by diesel making the insurance premiums for a diesel car higher when compared to a petrol car. A car with an installed CNG or LPG kit increases the cost of the car which in turn increases the car insurance premiums.

    Capacity of the Engine

    The engine Cubic Capacity (CC) is another important factor that impacts car insurance premiums. Cubic capacity is different for various types of cars. A car with a larger engine capacity is subjected to higher premiums. Sedans and SUVs have higher engine cubic capacity compared to a hatchback, which makes insurance premiums higher for higher-CC cars.

    Installing Electrical and Non-Electrical Accessories

    Electrical and non-electrical accessories are the two major classifications when it comes to car accessories. Electric accessories include the music system, air conditioners and the various light installments that are done in the car. On the other hand, non-electric accessories are seat covers, different interior fittings and alloy wheels. Installing both types of accessories in the car increases car premiums. This is because of the accessories add-on cover that you might opt for to protect these electrical and non-electrical accessories.

    Conclusion

    Insurance premiums are greatly impacted by the kind of vehicle you drive. It is advised to keep shopping around for different coverage options as no two insurers are the same. Finding the coverage option that best suits your needs and finances is essential.

     

    We hope this blog has helped in answering your question – Does the type of car affect insurance rates? Reach out to our experts by emailing us at support@elephant.in to solve any further queries!

    Obtain your ideal car insurance from Elephant.in and get exclusive discounts with just a few clicks!

    *Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action. Tax benefits are subject to changes in tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.| EL/BLOGS/23-24/08

    READ MORE
  • sliderImg
    Published on: 26th Feb 2024
    Decoding Third-Party Car Insurance

    Third-party (TP) Premium is a complex term in the diverse landscape of car insurance. In this blog post, we will explore and analyse the complexities of third-party premiums and answer the vital question: What is TP Premium in car insurance? It is extremely important for car owners to know about TP Premiums as they directly impact the total cost of your insurance coverage.

    The Basics of TP Premium

    Let’s begin by breaking down TP Premiums. TP, short for ‘Third Party’, is that section of your motor insurance policy that steps in when there’s damage or injury to others. However, comprehensive car insurance goes the extra mile, bundling third-party liability insurance and own damage cover, which protects your car from a variety of scenarios – theft, vandalism, natural disasters, and even man-made mishaps like riots. By paying an extra premium, it also covers bodily damages caused to the car owner or driver. A comprehensive car insurance policy can be further enhanced by bundling add-on covers, but keep in mind that the insurance premium will increase. It is essential to understand how TP insurance works to make safe and sound decisions to protect your car.

    What Does Third-Party Liability Insurance Do?

    Your insurer will have to be informed about an event of claim and a thorough investigation will take place. According to your case, the outcome will be decided. Post-investigation, if you are eligible, the insurer will cover your monetary and legal liabilities.

    Important Advantage of Third-Party Liability Insurance

    Damages caused to the insured vehicle or its owner in the event of an accident are not covered under Third-party Liability insurance. Comprehensive car insurance will be much better in getting overall insurance protection.

    Third-party liability insurance, on the other hand, pays for third parties’ property losses or personal injuries in the event of an accident. It also covers potential legal liability expenses following an accident.

    Factors Influencing TP Premium

    Insurance plays a vital role in deciding the car prices in India. The overall price of the car includes the insurance costs. The cost of insurance coverage will have to be taken into consideration when the car is bought by the car owner. The risk associated with the car model is calculated and considered by insurers in determining insurance premiums. The higher the risk of being in an accident or stolen, the more the insurance premium will be, increasing the overall value of the car.

    In India, it is a legal mandate for all cars to get third-party liability car insurance. The third-party liability car insurance rates are set by the Insurance Regulatory and Development Authority of India (IRDAI). As it is mandatory to get third-party insurance, the premium is factored into the total cost of the car.

    Insurers consider various factors when calculating the third-party premium. The factors are:

    • Make, model and age of the car
    • Engine Cubic Capacity (CC)

    Understanding these influencing factors empowers you to make informed decisions when selecting your coverage, ensuring that your TP Premium aligns with your budget and provides adequate protection.

    Balancing TP Premium and Overall Coverage

    When navigating the world of car insurance, the balance between TP Premiums and overall coverage is crucial. While it may be tempting to opt for the mandatory minimum third-party liability coverage to reduce your premiums, it is important to consider the potential financial consequences in the event of a serious accident.

    Investing in a slightly higher TP Premium to add additional liability can provide significant protection to protect you from uncovered costs that may arise if your coverage is lacking. It’s a delicate balance that requires careful consideration of your financial situation, driving habits and potential risks.

    Furthermore, consider additional coverage options beyond the TP insurance coverage. Comprehensive coverage, which includes protection for your vehicle, can provide an extra layer of security. Evaluate your needs and assess whether additional coverage elements are warranted to ensure comprehensive protection.

    Conclusion

    All in all, an important part of being a responsible vehicle owner is understanding what the TP Premiums are in car insurance. It’s not just a financial commitment, it’s also a responsibility to make sure you can hit the road with confidence, knowing you have the protection you need.

    Do you require help in selecting the best policy for your car? You may get in touch with Elephant.in today! Email us at support@elephant.in or call us on our toll-free support number- 1800 266 9693, to talk to our experts!

    *Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action. Tax benefits are subject to changes in tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.| EL/BLOGS/23-24/07

     

     

    READ MORE
  • sliderImg
    Published on: 26th Feb 2024
    Navigating The Concept of Own Damage Premium

    In the intricate world of car insurance, understanding the nuances of premiums and coverage is essential for every vehicle owner. One question that often arises is– What is the basic Own Damage cover in car insurance? In this in-depth guide, we’ll dissect this crucial element, shedding light on its intricacies and emphasising why it stands as a cornerstone in the foundation of your car insurance policy.

    The Importance of Own Damage Cover

    At its essence, the Own Damage cover serves as a financial safeguard for your vehicle. It provides coverage for impairments to your vehicle against a pool of potential risks. Be it a minor fender bender, the aftermath of a severe hailstorm, or theft, this premium acts as a safety net, assuring your financial burden is dealt with appropriately in case of incidental damages.

    Recognising that the basic Own Damage cover is not a one-size-fits-all concept is imperative. It ensures that financial assistance is provided for repairs or replacements, leaving no room for expenses. OD insurance can be tailored as it is flexible and one can add additional coverage options like zero depreciation, engine protection, and roadside assistance.

    Components of Own Damage Cover Premiums

    Diving deeper into the concept of basic Own Damage premium, it’s crucial to grasp the distinct components that collectively determine the amount you pay for coverage. The components are as follows:

    • Car’s Age
    • Driving Habits
    • Car’s Make and Model
    • Location of Registration
    • Insured Declared Value (IDV)

    The Benefits of Own Damage Cover

    When looking for car insurance, you can choose between liability or comprehensive insurance. However, the big disadvantage of buying third-party insurance is that it does not cover the vehicle itself. Third-party liability insurance only covers the legal liability of the owner of the vehicle in the event of an accident, including liability for injury, death or damage to third parties.

    On the other hand, comprehensive insurance includes both liability insurance and the Own Damage Cover, which protects the car against damage, theft, vandalism, natural disasters and man-made accidents such as riots and the car owner/driver. In addition, you can further enhance a comprehensive plan with additional add-on options that you can purchase from the insurance company.

    Strategies for Reducing Own Damage Cover Premium

    Now that we’ve analysed the multifaceted nature of the Own Damage Cover, let’s examine actionable strategies for handling and optimising this crucial aspect of your car insurance.

    • Increase Voluntary Deductibles: One way to tailor your OD car insurance is by selecting the correct voluntary deductibles. In the event of a claim, you agree to pay a portion of the repair or replacement cost, and an additional payment is made by the insurer called the deductible. Choosing to pay a higher deductible may lower premium costs, but you will have to give out more in the event of a claim.
    • Insured Declared Value (IDV): Choose an IDV that is equivalent to the actual value of the car as a higher IDV leads to a higher premium whereas a lower IDV may not provide sufficient cover.
    • Transfer of No-Claim Bonus (NCB): If you previously had OD or Comprehensive Car insurance, be sure to transfer your NCB to your current policy to receive the accrued discount on the new policy.
    • Choosing plans based on usage: Pay-as-you-drive plans are a kind of vehicle insurance that tailors your premium to the frequency of your driving. You pay a base rate and extra charges based on the distance you drive.

    By enforcing these strategies, you actively manage your Own Damage Cover premium while receiving comprehensive coverage and maximising cost-effectiveness.

    Conclusion

    As we conclude this extensive exploration into the realm of Own Damage premium, it’s evident that this is more than just a technical aspect of car insurance—it’s a fundamental element that directly influences the longevity and financial security of your vehicle. Visit Elephant.in to learn more about our insurance options, get free quotes, and secure the peace of mind you deserve!

    Email us at support@elephant.in or call us on our toll-free support number- 1800 266 9693 to get in touch with our experts to solve any further queries!
    *Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action. Tax benefits are subject to changes in tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.| EL/BLOGS/23-24/06

     

     

    READ MORE
  • sliderImg
    Published on: 13th Feb 2024
    A Guide to Reducing Auto Insurance Premiums.

    To save a substantial sum of money while acquiring car insurance requires lowering auto insurance premiums. Owning a car back in the day was a luxury but advancements in technology along with the increased purchasing power of individuals have made it easier for the diverse population to acquire a car. As the number of cars is increasing on the road, the number of accidents is on the rise. In India, it is mandatory by law to get your car insured. The Motor Vehicles Act of 1988 has made it compulsory for all cars to have third-party liability insurance coverage.

    We offer numerous tips in this blog that will enable you to reduce your auto insurance costs without compromising coverage. We shall provide essential tips and efficient strategies to help you navigate the road to savings.

    Understanding Your Policy

    Before getting into how to lower car insurance premiums, let’s get the fundamentals clear! Take a peek at your policy and understand what it covers and what are your deductibles. Why? Because when you know the lay of the insurance land, you can make smart choices about tweaking your coverage and potentially trimming those premiums down. You need to understand the various factors affecting your car insurance premium as it will allow you to make proper decisions.

    Discounts for a Clean Driving Record

    How to reduce car insurance premiums? Maintain a clean driving record! Car owners who have minimal to no claims in their driving records are rewarded by the insurers. Having a clean driving record is advantageous as it assists you in negotiating a reduction in premium. Driving safely is advised since it motivates insurance companies to reduce your premium.

    Bundle and Save

    Bundling different insurance policies can help in reducing auto insurance premiums. Compiling insurance policies together encourages insurers to provide discounts. Get in touch with your insurance provider to explore bundling options to avail discounts to lower car insurance premiums. Along with that, it also simplifies insurance management as all of your policies are streamlined.

    Adjusting Voluntary Deductibles

    A voluntary deductible is the particular share/percentage of the claim that the car owner decides to pay at the event of the claim. Therefore, choosing to pay a higher voluntary deductible results in lower insurance premiums, but in the event of a claim, the expense out of your pocket will be higher. Hence, it is key to find a balance. Carefully consider your risk tolerance, which will help you determine your comfort level with unexpected costs.

    Installation of Safety Features

    A car with installed safety features lessens the chance of theft and accidents. Installing Indian Automotive Research Association (ARAI) certified measures in your car will result in lower car insurance premiums as insurers appreciate cars with certified safety gadgets installed. Policyholders can get a discount of 2.5% or Rs. 500 whichever is lower, based on the ARAI certification.

    Opt for Pay-as-You Drive Plans

    These plans operate on a very straightforward rule, the less you drive the less premiums you pay. There is a low risk of accidents as you are not taking your car out for a drive that often. Rather than paying an annual fixed fee based on elements like your vehicle’s worth and driving history, you pay a base rate and extra charges based on the distance you drive.

    Keep Your Car in Great Condition

    The chances of accidents are lower for a well-maintained car with minimal issues. Insurers reduce premiums for cars with safety features installed as they are less risky. It is advisable to keep your maintenance records intact to prove your car’s condition in support of your claim for reduced premiums.

    Conclusion

    Reducing auto insurance premiums is possible and can be a proactive and straightforward process. By understanding your policy, exploring bundling options, maintaining a safe driving record, adjusting deductibles, and conducting periodic policy reviews, you can pave the way to significant savings. Need to know how to reduce premiums on car insurance? Visit Elephant.in to learn about our insurance options, get free quotes, and secure the peace of mind you deserve!

     

    Email us at support@elephant.in or call us on our toll-free support number- 1800 266 9693 to get in touch with our experts!

    *Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. You are recommended to obtain specific professional advice from before you take any/refrain from any action. Tax benefits are subject to changes in tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.| EL/BLOGS/23-24/05

     

     

    READ MORE
What our Customers Say
  • For Employers
    The elephant has given a wide range of options at the best price to our employees under a single umbrella. A very unique business model and a bridge between retail insurance and corporate package.
    Kumar Gyanendra
    Kumar Gyanendra
    Human Resource(HR)
    Endureka
  • For Employees
    Elephant got my renewal at a price 5000 bucks lower than the renewal notice premium. These guys mean what they say when they say Killer Prices.
    Sushama Ghate
    Sushama Ghate
    Team Coordinator
    HyperLinks
  • For Employees
    Great support and service from Team Elephant. Always available and absolutely love how smoothly the whole process went by. Thanks for all support and help!
    Aishwarya Nair
    Aishwarya Nair
    Graphic Designer
    Freelancer
  • For Employees
    I went through the website and I must say it was really a smooth and delightful experience. Laxmi is very interactive and your focus on minutest of details made it fun buying an insurance policy.
    Nikhil Shukla
    Nikhil Shukla
    Relationship Manager
    Reliance
  • For Employees
    Elephant got my renewal at a price 5000 bucks lower than the renewal notice premium. These guys mean what they say when they say Killer Prices.
    Sushama Ghate
    Sushama Ghate
    Team Coordinator
    HyperLinks
  • For Employees
    Great support and service from Team Elephant. Always available and absolutely love how smoothly the whole process went by. Thanks for all support and help!
    Aishwarya Nair
    Aishwarya Nair
    Graphic Designer
    Freelancer
  • For Employees
    I went through the website and I must say it was really a smooth and delightful experience. Laxmi is very interactive and your focus on minutest of details made it fun buying an insurance policy.
    Nikhil Shukla
    Nikhil Shukla
    Relationship Manager
    Reliance
  • For Employers
    The elephant has given a wide range of options at the best price to our employees under a single umbrella. A very unique business model and a bridge between retail insurance and corporate package.
    Kumar Gyanendra
    Kumar Gyanendra
    Human Resource(HR)
    Endureka
Alliance Insurance Brokers Pvt. Ltd.
8th Floor, Gold Crest, 10th Road, Juhu, Vile Parle (W), Mumbai 400 049, India
Email
Monday - Saturday
9:30 am - 6:30 pm IST
CIN: U67200MH2003PTC141621
IRDAI Registration No.: 217
Valid from : 13/10/2021 to 12/10/2024
Category : Composite Broker
Principal Officer Name: Mr. S. V. Thakkar
CIN: U67200MH2003PTC141621
IRDAI Registration No.: 217
Valid from : 13/10/2021 to 12/10/2024
Category : Composite Broker
Principal Officer Name: Mr. S. V. Thakkar
*All discounts provided by insurers as per IRDAI approved insurance plans. Standard T&C apply.
Insurance is the subject matter of solicitation. For more details on policy terms, conditions, exclusions, limitations, please refer/read policy brochure carefully before concluding sale.
Visitors are hereby informed that their information submitted on the website may be shared with insurers for soliciting insurance policies.The product information for comparison displayed on this website is of the insurers with whom our company has an agreement.Product information is authentic and solely based on the information received from the Insurer.
© Alliance Insurance Brokers Pvt. Ltd. All rights reserved.
VisaUpdated Rupayupdated Mastercard AEUpdated Netupdated UPI 3 PayTM Gpay
Elephant.in is best viewed through Internet Edge, Mozilla Firefox® 16.x and +, Safari 5.1 and +, Chrome 23 and +, or an equivalent browser software. If your browser is older, you may have trouble viewing many of our web site features properly. If you are unsure of the version of your browser, you can determine it by choosing 'Help' at the top of your browser window and then selecting 'About' (your browser).