What factors determine the premium amount?

Make and Model of the VehicleYear of ManufacturePlace and year of RegistrationCurrent Showroom price of the vehicleWhether Client is Individual or CorporateLocation / residenceMarket value of the property being insuredUse of the property (commercial/private)

Why do premiums vary between different insurance companies?

Insurance companies work with different statistics and use different methods to calculate premiums. Some companies are specialized in certain areas or types and so are prepared to give discounts in those areas. This adds to the complexity as various companies yield varied prices. Premiums are quoted based on the risk being insured. The greater the […]

Why do I have a deductible?

Deductibles serve several functions. Shifting the cost of small claims to the person buying the insurance (insured) Enables the insurance company to reduce premiums. Adjusting claims for small amounts often costs more than the value of the claim. A deductible on a policy gives the owner of the property some degree of responsibility to protect […]

What is required for Motor Insurance?

You must tell your insurer everything that is relevant to your insurance. If you don’t, then you risk having your policy getting void or being left out without cover. insurers need to know all your details, your driving history, car user, car details and location. Insurance is provided on an utmost good faith; hence, the […]

What is Motor Insurance and why is it important? What is required for Motor Insurance?

Motor Insurance is a protection against losses which arise due to legal claims made by a third party in case of an accident caused by you or losses which arise as a result of manmade/natural calamity to you, your vehicle and co-passengers. Motor insurance is an insurance purchased by the owner of a mechanically propelled […]

What factors should I consider when I insure my house?

Your house represents your investment, hence taking a house insurance means protecting your valuable investment and its contents. To insure your house therefore, one needs to consider the value of the building, the location of the building (flood prone area, high crime rate) Once you have decided on the coverage you want in your insurance […]

What does it mean to have a “vehicle written off”?

The decision to repair, replace or pay cash for any loss of property to you lies with the Company. Your vehicle is said to be “written off” if the cost of repairs of the damaged vehicle is more than 70% of the sum insured. Another term for “written off” is “total loss”. Before your vehicle […]

Why do I have to insure my vehicle? And why should I have to insure it with GLICO General?

Once you own a vehicle, you assume a number of liabilities or risk exposures which, if they occur, could be devastating to you and therefore need to be covered by the GLICO General Motor Insurance Policy. Some of these risks include losses which could arise due to legal claims made by a third party in […]

What do I need to take into account before insuring my house?

Your house and its contents are one of your major investments and hence taking a house insurance is imperative for the protection of these valuable investments of yours. To insure your house and its contents, you need to know the value of the building and the contents, the location of the building (flood and or […]

As a policyholder, should I report all motor accidents to GLICO General?

Yes you should. Even if the accident appears minor, it is important that you let GLICO General know about the incident. If you do not report it to the Company, you risk losing your right to make a claim later due to both statutory and policy limitations. Reporting an accident involving your insured vehicle on […]

What factors determine the premium amount?

What factors determine the premium amount?

Also Read

Why do premiums vary between different insurance companies?

Why do I have a deductible?

What is required for Motor Insurance?

What is Motor Insurance and why is it important? What is required for Motor Insurance?

What factors should I consider when I insure my house?

What does it mean to have a “vehicle written off”?

Why do I have to insure my vehicle? And why should I have to insure it with GLICO General?

What do I need to take into account before insuring my house?

As a policyholder, should I report all motor accidents to GLICO General?

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What factors determine the premium amount?

What factors determine the premium amount?

Also Read

Why do premiums vary between different insurance companies?

Why do I have a deductible?

What is required for Motor Insurance?

What is Motor Insurance and why is it important? What is required for Motor Insurance?

What factors should I consider when I insure my house?

What does it mean to have a “vehicle written off”?

Why do I have to insure my vehicle? And why should I have to insure it with GLICO General?

What do I need to take into account before insuring my house?

As a policyholder, should I report all motor accidents to GLICO General?

Sister Companies

Quick Links

Office

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