GENERAL INSURANCE BLOG

Futuristic innovations are taking the world by storm, and the automobile industry is no exception. The most recent trend that has caught an upswing among car enthusiasts is self-driving or autonomous cars. While progress has been slow, it is still exciting to imagine a world where driving is hands-free.

While the concept is likely to do away the requirements of the drivers, what about the need to buy new car insurance? Will the revolutionary technology make insurance obsolete, or will auto-insurance companies alter their products as per the evolving market needs? Read on to learn all about the impact of driverless cars and their impact on the insurance industry.

What exactly is a driverless car?

It is an autonomous vehicle, meaning it can move from one location to another without help from a human driver. Self-driving vehicles, or driverless cars, manifest the machine-driven future we've envisioned. It is believed that they will make our lives easier and more productive.

But are they covered under your car insurance?

A top American consulting firm predicted that vehicle collisions would drop dramatically by the middle of this century. The insurance market is expected to be negatively impacted. Since claims related to autonomous cars are expected to decrease, insurance rates will go down. However, you will still need liability insurance because autonomous vehicles can also be driven by hand.

Apart from this, the insurance industry may also see a significant drop in business as the demand for theft protection coverage falls. Cars will be equipped with a 'kill-switch,' which prevents anyone but the owner from starting the engine, and a modern GPS tracking system may make it fully theft-proof. Car owners may feel safer without theft insurance, so the insurance premiums will also decrease as a result.

However, this is also another side of it!

Some experts think introducing self-driving cars will not affect the car insurance business much just because these cars have better safety features. These days, there is already a wide range of vehicles that feature a variety of cutting-edge technologies thanks to the rapid evolution of the car industry in recent decades. However, that has not resulted in noticeable shifts in insurance premium costs. Various collision-avoidance features are available in modern cars, despite which the number of reported accidents has remained relatively high.

How will insurance companies adjust to new conditions?

Although it is currently challenging to predict how driverless cars will affect car insurance businesses, it is likely to assume that the transition will be slow enough to allow the insurance industry adequate time to adapt. There are three main areas where insurance companies can improve in the future, according to certain reports.

1. Heightened cyber security risk:
Driverless cars will observe an increase in the use of hardware and software in cars, posing a cyber security risk. There may also be an increase in the likelihood of cybercrimes such as theft, ransomware, hacking, and the improper use of data about cars. In the not-too-distant future, car insurers will be able to start offering coverage in this area.

2. Technological concerns:
There is a significant risk of catastrophic loss due to software faults, memory overflow, and algorithmic flaws in automotive-related sensors and processors. Insurers will typically cover these types of losses with additional features.

3. Infrastructure insurance:
Factors such as cloud server systems, signals, and other safeguards that will be set up for the protection of vehicles and drivers will give a substantial yearly revenue potential in premiums. The need for public infrastructure insurance and security is bound to increase.

In conclusion, the automotive and car insurance industries are changing tremendously, and this transition will likely to drive the automated future. Until we have more information about innovations, it is ideal to buy new car insurance in case you don't have one to safeguard your current asset.

Click HERE to buy new car insurance.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Do you ever feel like your eyes are burning, have redness, sting, or blurred vision, especially when reading? You might have dry eye syndrome.

A healthy tear film for the human eye is extremely important to retain good vision. People with dry eyes are unable to maintain a healthy coating of tears. This medical condition can hinder your day-to-day activities if not addressed in time. Here, you can learn about dry eyes, including symptoms, causes, prevention, and more.

What is dry eye syndrome?

Human eyes require a tear film to coat them, as it keeps the eye's surface clear and smooth and maintains good vision. When the eyes hardly produce tears, they are more likely to develop dry eyes. People suffering from dry eye syndrome cannot maintain a normal layer of tears to coat their eyes. This syndrome can also cause bacterial infections and a scar on the cornea.

Symptoms of dry eyes syndrome.

The most common symptoms of dry eye syndrome include pain, redness, and burning in the eyes. However, some people may experience other symptoms such as blurry vision, water tearing, eyes getting tired more quickly than usual, stringy mucus, and the feeling of having sand in their eyes. People with this syndrome often have difficulty sitting at a computer or reading a book for a long period.

Learning the signs of dry eye syndrome allows you to check whether you or someone around you has this medical condition. Get medical treatment if you find any symptoms of dry eyes syndrome.

What causes dry eyes syndrome?

Anyone, regardless of gender and race, can develop dry eye syndrome. However, older people are more prone to this eye condition. Also, women who have gone through menopause are at higher risk for this condition. Other causes include:

● Using contact lenses for a long time

● Being in the wind

● Breathing smoke

● Being in a very dry environment

Some medical conditions include rheumatoid arthritis and thyroid disease can also cause dry eye. You may also develop dry eye syndrome if you take sleeping pills, cold medicines, diuretics, heartburn medicines, antidepressants, or beta-blockers. Get your eye tested to avoid dry eye syndrome. It would also help you renew your health insurance online and enjoy no-claim benefits.

How to prevent dry eye syndrome?

You can prevent this eye condition by following these tips:

● Stay away from warm or dry rooms. If you use a heater or radiator in winter, ensure the required moisture in the room

● Avoid using hair dryers as much as possible

● Use artificial tear ointment before bed if you have dry, scratchy eyes in the morning

● Wear glasses to protect your eyes from the drying wind

● Consult your eye doctor about adding omega-3 fatty acids from foods like seafood to your diet

● Renew health insurance online to save money on doctor consultations and eye treatment expenses

What are the treatments available for dry eye syndrome?

Generally, people visit an ophthalmologist to diagnose their eyes for dry eye syndrome. They conduct various tests and provide different treatments. Some treatments include lacrimal plugs, artificial tears, medication, LipiFlow, surgery, and home care.

Dry eyes don't cause permanent vision loss. However, you should see a doctor if you suspect you are developing dry eyes, which can impair your vision. Follow prevention tips to reduce the risk of dry eyes. Make it a habit to wash your eyes regularly and indulge in quick exercise sessions to offer relief to the eyes. Renew your health insurance online to cover the expense of your other medical bills.

Click HERE to buy new car insurance.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Detecting faults in your home's electric circuit can be simple if you know exactly where the fault is or which appliance has malfunctioned. Proper knowledge is the prerequisite to easily detecting faults in the home electrical circuit. It can be in any room, hallway, verandah, bathroom, bedroom, or kitchen.

The power supply may get disrupted in the entire house or only some portion of it. Safety is paramount when it comes to detecting faults in electric circuits. Even a small mistake can cause loss of life and massive property damage.

Are you someone trying to detect electrical faults for the first time? Let us understand how you can proceed with it conveniently.

1. Get the right gear:
The right equipment and tools are necessary before repairing a fault in your home's electric circuit. Get the right tools that ensure your safety while checking for the fault. Use a socket tester and voltage meter to check the running current.

2. Switch off the main power supply:
Make sure you switch off the main power supply of your house before trying to touch any open wire or faulty appliance. You can also remove the circuit fuse of the particular room or area where you plan the repair. Failure to do so can result in an electric shock.
If there was smoke or crackling noise from any wire or switchboard, wear rubber boots or slippers and rubber gloves before touching any wire or board. They will provide some electrical insulation if they are made of 100% pure rubber without any holes or tears.

3. Testing a faulty appliance:
If any of your appliances are not working, you should try to plug them into another socket to ensure it is working properly. If the appliance works there, you have a problem with the circuit of that particular room. If the appliance still does not work, it means that your house's electric circuit is okay and not at fault. You will have to get the appliance repaired from the electrician.

4. Checking the Fuse / MCB:
Our homes have fuses or MCBs (Miniature Circuit Breakers) for every room and separate portions of our house. To prevent overloading, there are separate MCBs for heavy appliances, such as an air-conditioner. When a circuit or appliance malfunctions, the fuse will break, or the MCB will trip automatically, which will shut down power to that circuit.
Whenever you face a power problem in any particular house area, you should first check the respective fuse/MCB. A faulty appliance can also result in tripping off an MCB or blowing a fuse. You can repair the fuse by fixing the live wire if the fuse is blown. If the MCB is down, you should switch it on again and check for the fault in that particular room or appliance. If the problem is still there, the MCB will trip or shut off again. In such instances, you should call a qualified electrician rather than fixing it yourself.

5. Faulty power line:
If all the MCBs are also fine and there is still no power in your entire house, the problem can be bigger from the main line or the transformer. Please do not try to rectify faults from the main line because of the high voltage running through them. Call a qualified technician who is capable of repairing such faults.

You do not have to run for a qualified technician whenever you have a minor electrical fault at your house. You can also detect and repair the fault if it is not that severe and manageable. However, you should be careful while checking or repairing faults in your home electric circuits.

Faulty electric circuits and malfunctions can result in fire and heavy loss at your house. Fret not! Home insurance provides you with safety and security from any such unfortunate events. It covers the house structure and its contents and assists in rebuilding the damaged property. Get complete peace of mind by opting for a good home insurance policy.

Click HERE to purchase a comprehensive home insurance policy.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.

Travel is like hitting a reset on the mundane flow of life. It is a breath of fresh air a amid hectic schedule involving tedious work. Refocusing efforts on personal growth rather than material success to prevent burnout and enhance productivity has allowed young professionals to take holiday breaks, explore the world to develop new perspectives, and take on new challenges.

While travel opens up a new world of possibilities, cultures, and experiences, one should never neglect uncertainties. Accidents are an uncertainty in life that one must always prepare for. Often forsaken since they are rare occurrences, irrespective of scale, they leave the victim with pain, financial burdens, and sometimes, lifetime disabilities.

Although you can't prevent accidents, you can be prepared and protect yourself against allied financial losses by buying personal accident insurance India. If you are an avid traveller, here's why you should consider purchasing personal accident insurance India before setting on your next journey.

What is personal accident insurance India?

The severity of accidents is often undermined due to their infrequency. However, irrespective of the cause of the accident, they may lead to accidental deaths, bodily injuries, or disabilities. Personal accident insurance India seeks to insure the policyholder against the financial losses arising from specific accidents that health and life insurance exclude.

Why should travellers purchase personal accident insurance India?

1. Stress-free travel: Exploring new lands and getting a taste of new experiences is best enjoyed without additional stress. Personal accident insurance India protects against accidents you may encounter while on your globe-trotting adventure. Check the fine print of your policy to ensure that your insurer covers accidents occurring abroad. If not, make sure you buy additional specific coverage for the same.

2. Medical compensation:
With medical inflation reaching record heights, healthcare services are costly across the globe. Depending on your preferred destination, you may have to shell out more if you need medical attention due to an accident. Personal accident insurance India covers hospitalisation and allied medical expenses, lifting the financial burden from your shoulders.

3. Additional benefits:
Apart from the medical compensation offered to the policyholder, their family can avail of family transportation allowance, children's education allowance, loan protection services, etc., to shift the burden from the policyholder.

Types of personal accident policy coverage.

1. Accidental death cover:
In case of the insured's accidental death, the nominee receives 100% of the total insured sum stated in the policy.

2. Permanent partial disability cover:
This insurance plan acknowledges disabilities that limit the functioning of the person. For partial disabilities like the loss of specific senses or body parts, you can claim up to 100% of the insured sum.

3. Permanent total disability cover:
Accidents that lead to the loss of essential body parts like limbs that directly impact the insured's ability to return to normal activities make the nominee/policyholder eligible to claim the assured sum.

4. Temporary total disability cover:
Where accidents impair the policyholder's ability to return to regular activities temporarily, the insurer pays a specified sum during the rehabilitation period in the form of a daily or weekly allowance to meet EMI payments, general living expenses, etc.

Exclusions of personal accident insurance.

Before purchasing personal accident insurance India, you must be aware of some of the main exclusions not covered by the policy:

● Natural death

● Pre-existing disability or injury

● Suicide or self-injuries

● Influence of intoxicants

● Acts of terrorism

● Engaging in criminal activities

Encountering an accident is not predictable. Purchasing personal accident insurance protects the policyholder against many accidents, including travel accidents. To protect yourself and your loved ones from unknown risks and travel stress-free, buy personal accident insurance India at the earliest from your preferred insurer!

Click HERE to buy personal accident insurance India policy.

Disclaimer: The information provided above is for illustrative purposes only. To get more details, please refer to policy wordings and prospectus before purchasing a policy.