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General Insurance

The purpose of general insurance is to protect properties, such as homes, cars, industries, offices, and valuables, from financial loss caused by a variety of risks viz. fire, flood, storm, earthquake, theft, road accidents, travel mishaps and even litigation etc. One can choose the types of risks one wishes to cover by choosing the right kind of insurance policy with the features one needs.

The general principle of insurance is to spread the cost of unexpected risks among a pool of people in the same region/ geography. An insurance policy may require you to pay monthly or annual premiums. Thousands of policyholders contribute to a big pool of funds by paying insurance premiums.

It is also expected that you will never need to draw from that pool. In the event of an unexpected and untoward risk incidence viz., earthquake, storm, flood, fire, accident, or medical emergency, such pool of funds can be used to assist the insured person up to the amount of sum assured in the policy.

If things go wrong, the insurance company might either repair or replace your lost or damaged assets/ properties, depending on the terms of your policy. In addition, you may be able to receive a claim amount for the insurance amount agreed upon.

Type of General Insurance

Health Insurance plan

Health Insurance

Health Insurance covers the medical and surgical expenses of an insured person.

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Motor Insurance

Motor Insurance

A vehicle insurance policy or a Motor insurance policy is meant for cars, buses, trucks, and other vehicles plying on the road. A motor insurance policy protects the insured vehicle against the damages caused due to accidents and natural disasters. In addition to the vehicle damage, motor insurance also provides mandatory coverage for third-party liabilities.

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Home Insurance

Home insurance protects a house and its assets. Various contents can be covered under home insurance like jewelry, paintings, and many more.

Damage to property by water, fire, theft, vandalism, etc. is common in India. Rebuilding the house is stressful and it requires lots of time and monetary resources. Home Insurance can save you from such untoward situations.

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Travel Insurance

Travel Insurance provides coverage against all possible travel and medical emergencies while traveling within India or abroad.

Travel insurance can be broadly grouped into individual travel policy, family travel policy, student travel insurance, senior citizen travel insurance, group travel insurance, and corporate travel insurance.

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Marine Insurance

Marine Insurance covers the loss or damage caused to the goods during transit between the origin and destination point.

This insurance policy also covers exposed goods, goods kept on-shore or off-shore, or other casualties.

Commercial Insurance

Commercial Insurance is a type of insurance that covers risks related to any business. There are the following types of commercial insurance:

A. Property Insurance: Property insurance covers losses and damages to the property.
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SKC Asra Global Insurance Broker Private Limited

First Floor, Jeevan Vihar Building, Parliament Street, New Delhi – 110001

Registration No: 1046, Registration Code No: IRDA/DB n1086/2024/ Valid till: 18/03/2028, License category: Composite Insurance Broker

Insurance is the subject matter of solicitation. Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the Insurer.

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Types of Motor Insurance

1. Car Insurance Renewal
With a Comprehensive car insurance policy, you can drive safely and not worry about the potential financial losses that you might have to incur due to unfortunate events involving your car. Car insurance renewal is the essential, thoughtful, and responsible option to save yourself, your car, and your loved ones against such eventualities.

2. New Car Insurance
As per the Motor Vehicles Act, it is mandatory that all vehicles that operate in any public space must have a motor vehicle insurance policy. Policyholders must have third-party liability motor insurance cover.
An extensive plan will provide complete coverage and protection against all kinds of accidents, theft, fire, and natural disasters along with third-party liability.

3. Two Wheelers / Bike Insurance
Two-wheeler insurance covers your two-wheeler against damages due to accidents, natural disasters, fires, and theft. It also covers third-party liabilities such as damage to another person's vehicle/property or injuries/death of a third party. Two-wheeler insurance covers motorcycles, scooters, mopeds, and other 2-wheelers.

4. Commercial Vehicle Insurance
Commercial vehicle insurance provides coverage for the damage caused by or to commercial vehicles. It covers both parties involved in the accident for injury or death. This policy provides coverage for the loss or damage caused due to natural disasters, fire, man-made disasters, etc. All business owners must cover their commercial vehicles running on the road such as auto-rickshaws, trucks, lorries, school buses, etc.

5. Taxi / Cab Insurance
Taxi or cab insurance is a type of commercial vehicle insurance policy that covers you and your cab in case of an accident, natural calamity, etc.

If you or your organization own any kind of commercial taxi or cab, it is mandatory by law to at least buy a third-party liability-only policy. This financially covers your business, keeps your profit margin in check, and reduces downtime in case your taxi meets with an accident or causes damages and losses to third-party property, person, or vehicle.

List of Top Car Insurance Add-On Covers

The availability of car insurance add-ons varies from insurer to insurer. The following are some car insurance add-on covers that are offered by most of the general insurance companies:

A. Zero Depreciation Add-on Cover
At the time of a claim settlement, the insurer will deduct the amount of depreciation applicable to your car and its parts. The zero depreciation cover helps you mitigate the burden of bearing the depreciation cost of your vehicle, thereby increasing your claim amount. Most insurers limit zero depreciation claims to two, however, some insurers, such as IFFCO Tokio, allow unlimited zero depreciation claims.

B. Consumables Add-on Cover
As part of this add-on, you are covered for consumable elements such as grease, air conditioner's gas, lubricants clip, bearings, fuel filter, engine oil, oil filter, brake oil, nut and bolt, screw, washers, etc, which are not covered by the standard policy.

C. Roadside Assistance Add-on Cover
This add-on cover secures assistance services in the event of the breakdown of the insured vehicle. The services include towing the vehicle to the nearest garage, on-site repair services, assistance in case of loss of keys, changing flat tires, fuel delivery, etc.

D. Engine Protection Add-on Cover
This cover allows the policyholder to get indemnified against expenses for mechanical/electrical breakdown of the engine due to an oil spill, water ingression, etc.

E. Key Loss Add-on Cover
This add-on cover makes the insurance company liable to compensate the policyholder for the loss of key(s).

F. Passenger Assistance Add-on Cover
It is a bundled cover that includes Hospital Allowance, Medical Expenses and Medical Transport Assistance to the policyholder in the event of an accident.

G. Tyre Damage Add-on Cover
Add-on covers damage such as in-tire bulges, punctures or bursting of tires, cuts on tires due to accidents, etc.

H. Return To Invoice Add-on
This add-on cover allows you to get the full invoice price of your vehicle when it suffers Total Loss, Constructive Total Loss (CTL), or theft.

I. Protection Of NCB Add-on
This add-on helps you retain your No Claim Bonus (NCB) discount even if you had filed a claim in the last policy tenure. NCB is the discount that you get on your own damage premium for every claim-free year.

J. Loss of Personal Belongings Add-on
This add-on compensates the policyholder in the event of loss of personal belongings such as articles or items of a personal nature that are likely to be used, carried, or worn.

K. Daily Allowance Add-on
By opting for this add-on you get a daily allowance from the insurer when the car is lost or is out for repairs.

L. Personal Laptop and Mobile Add-on Cover
This add-on allows you to get compensation for the loss of a personal laptop and mobile kept in the vehicle.

M. GAP Value Add-on Cover
In the event of theft, total loss, or constructive total loss, you will receive the entire invoice price of the vehicle. With an additional premium, it also covers Road Tax and first-time registration fees.
Types of Home Insurance Policy -

1. Landowner Policy-This policy can provide coverage to the homeowners from financial losses that they may incur when they rent out a property. It covers standard fire, damage, theft, and other associated risks.

What does Landowner Insurance Cover?
● Damage to property
● Cover against ‘Loss of Income’
● Liability Insurance

2. Renters Insurance -Renters insurance covers you when you are living in a leased/rented property. While the landlord might have insured his property, you must safeguard your belongings and valuables too. This insurance helps you to get back on your feet in case of any mishappening.
1. Emergency medical expenses-The travel insurance policy covers the expenses incurred in case you get injured or fall sick during the trip.

2. Emergency medical evacuation- In case of an emergency where you fall sick and have to be transported to the nearest medical facility/hospital, the insured person will get paid/ reimbursed for all the expenses in this regard. Once you recover and are in a position to travel back home, the policy may even pay for your expenses in relation to returning home under the ‘Repatriation’ benefit.

3. Repatriation of remains- In the unfortunate event of the death of an insured person while they are traveling, the cost of recovering their body and taking the remains to the home country can be a huge financial burden. In a policy has been taken to cover such risk, the repatriations of remains will be covered under the said policy.

4. Baggage- This insurance is vital in case one’s baggage is lost or damaged during the trip. To get compensated for such damages to the luggage, baggage insurance plans are extremely helpful.
The loss of checked-in luggage or baggage delay would be covered under various available policies.

5. Accidental death and dismemberment- The coverage benefit under this policy would apply if you were to pass away in an accident or loss of one or two limbs, paralysis, or blindness in an accident.

6. Others- The various policies are available that may include cash advances, travel delays, ID theft protection, concierge services, car rental coverage, flight accidents, etc.

Trip Medical Insurance Package: Travel medical insurance is mainly focused on medical benefits. It provides better medical coverage and may also cover various situations and other major medical emergencies. It is most beneficial for people who are traveling out of the country for longer durations.
B. Business Interruption Insurance: Business interruption insurance provides coverage for lost income and expenses resulting from property damage or loss.

C. Commercial leases often require tenants to carry a certain amount of insurance. A renter's commercial policy covers damages to improvements you make to your rental space and damages to the building caused by the negligence.

D. Crime Insurance: Crime insurance covers protection against employees’ theft, burglary, robbery of money, securities, stock, fixtures, or any losses from forgery, computer fraud, etc.

E. Fidelity Insurance: It covers losses due to employee's theft of business property and money.

F. Boilers & Machinery Breakdown Insurance: Boiler and machinery insurance, also called "equipment breakdown" or "mechanical breakdown. It provides coverage against physical damage and financial loss that can result from an equipment breakdown.

G. Debris Removal Insurance: Debris removal insurance covers the cost of removing debris after a fire, flood, windstorm, etc.

H. Glass Insurance: Glass insurance covers broken store windows and plate glass windows.

I. Liability Insurance: Liability insurance covers injuries that you cause to third parties. If someone sues you for personal injuries or property damage, the cost of defending and resolving the suit would be covered by your liability insurance policy. A general liability policy will cover you for common risks including customer injuries at your premises.

More specialized varieties of liability insurance include:

  • Errors and Omissions Insurance: Errors and Omissions ("E & O") insurance covers inadvertent mistakes or failures that cause injury to a third party. The act must be an inadvertent error, and not merely poor judgment or intentional act.

  • Malpractice Insurance: Generally, malpractice insurance pays for losses when a professional's conduct falls below the profession's standard of care and injures a third party. If a doctor makes a mistake that in the ordinary course, other doctors in his place would not have made, his patient might sue him. His malpractice policy will cover his defense costs and any judgment or settlement. Professionals such as doctors, dentists, accountants, real estate agents, architects, and others can purchase malpractice insurance.

  • Directors' and Officers' Liability Insurance:This type of insurance is generally purchased by companies and non-profit organizations to cover the costs of lawsuits against its directors and officers.

  • Employees Compensation Insurance:Employees' on-the-job injuries are covered by employee compensation insurance. Employees’ compensation insurance is required to be obtained by the employers under various state laws. For work-related injuries, employees’ compensation laws prohibit employees from suing their employers for negligence.

  • Accident insurance: Accidents of different types are possible at any time, at any place. Persons and vehicles are more prone to accidents causing injuries and damages.

  • Fire insurance: It offers to make good the costs incurred in the replacement, repair, or reconstruction of property that was damaged due to fire.
Types of health insurance

1. Individual Health Insurance
An individual health insurance policy covers you, your spouse, your children, and your parents. Typically, these policies cover all kinds of medical expenses, including hospitalization, day-care procedures, hospital room rent, etc. Each individual health insurance plan has a pre-agreed sum insured amount. Let's say you take an individual plan for yourself, your spouse, and both of your parents with a sum insured of INR 10 lakhs. Your health insurance policy allows you to claim a maximum of INR 10 lakhs per policy year.

2. Family Floater Health Insurance
A family floater plan covers your family members under one insurance policy and everyone shares the sum insured. Since the sum insured is shared, these plans are typically more affordable than individual ones. Consider purchasing a family floater plan for you and your spouse with a sum insured of INR 10 lakhs. The maximum claim you can make in a single policy year is INR 10 lakhs. There is a possibility that your spouse may file a claim for INR 6 lakhs and you may file a claim for INR 4 lakhs or vice versa. Family floater plans are ideal for young nuclear families.

3. Senior Citizens’ Health Insurance
Senior citizens' medical needs and requirements have been specifically taken into account while designing these health insurance plans. Many senior citizens' policies offer additional benefits, such as domiciliary hospitalization, psychiatric care, etc. These policies may be more expensive than regular insurance policies because older citizens are more prone to health problems.

4. Critical Illness Insurance
Lifestyle-related diseases are on the rise. Cancer, stroke, kidney failure, and cardiac diseases can be very expensive to treat and manage over time. It is precisely for this reason that critical illness insurance policies have been created. These policies can either be purchased as an add-on/ rider with your regular health insurance plan or separately. These policies offer cover for very specific issues and often provide claim payouts as a single lump sum payment after the diagnosis of a critical illness.

5. Group Health Insurance
Unlike individual and family floater policies, a group health insurance plan is purchased by a group manager for a large number of individuals. For example, an employer can purchase group insurance for all their employees or a building secretary may purchase this plan for all the residents of the building. These plans are fairly affordable, but they often only provide cover for basic health issues. Employers often purchase these plans as an additional benefit for employees.

6. Maternity Health Insurance
Maternity health insurance cover is a type of health insurance plan that covers medical expenses related to pregnancy like the cost of delivery, hospitalization, pre-and postnatal care, medical tests, medicines, newborn baby expenses, etc.

7. Top Up Health Insurance PlansPlans 
A top-up health insurance plan is another insurance product that provides you with medical insurance in addition to your regular health insurance plan or a group mediclaim policy.

As with your basic health insurance plan, a top-up plan has a lower insurance premium burden, so it is more affordable. There is a difference between a top-up health insurance plan and a health insurance rider for a specific illness, such as a critical illness rider or a personal accident rider.

Riders can only be added to basic health insurance policies, whereas top-up policies can be purchased separately. As such, you can use a top-up plan both as a standalone health insurance policy and as added coverage to your regular health insurance policy.

8. Personal Accident Insurance
An accident insurance policy protects you against death, permanent total or partial disability, and temporary disability. Upon death or permanent disability, the insurer pays a sum insured and the policy terminates.

In the case of permanent partial disability, a percentage of the sum insured is paid, whereas in the case of temporary total disability, weekly compensation may also be provided. In the event of a permanent partial disability or temporary total disability, the policy is renewable.

You can think of personal accident insurance as an income protection plan where your profession and income determine your maximum coverage and premiums. Generally, you can get maximum insurance coverage of 10 times your annual income, with insurance premium rates varying from profession to The above plans are a variety of insurance plans and covers offered by most insurance companies. As an IRDA-licensed insurance broker, we offer tailor-made insurance solutions where we mix and match products from different insurance companies and optimize premiums and maximum coverage for our clients.