1.
What is Insurance?

It is the
means by which one party (The Insured) transfers his uncertainties to
another party (The Insurer) for certainties in consideration of payment
of Premium. It is the Risk Transfer mechanism.

2.
Why do I need Insurance?

One needs
Insurance so that he/she can transfer his/her uncertainties for certainties,
or put in another way, "to ensure certainities of his/her uncertainities."

3. When do I need Insurance?

One needs
Insurance because one does not know when an unfortunate event will occur.

4.
What can I insure?

You can Insure
everything that you have under different Classes of Insurance, which exist.

5.
What are the benefits of Insurance?

·
Piece of Mind - the knowledge that Insurance exits to meet the
Financial Consequences of certain Risks.

·
Loss Control - Insurers have an interest in reducing the Frequency
and Severity of Losses, not only to enhance their profitability but also
to contribute to a general reduction in the Economic Waste, which follows
from Losses.

·
Social Benefit - the fact that the owner of business has funds
available to recover from a Loss provides the stimulus to business activity.
It also means that jobs will not be lost and goods and services can still
be sold. The Social Benefit of this is that people keep their jobs, their
sources of income are maintained and they can continue to contribute to
the National Economy.

·
Investment of funds - Insurers have a large amount of Premium,
which they can invest because there is a time gap between Premium payment
and Claim being made.

·
Invisible earnings - Insurance is spread worldwide and when one
earns or gets profit from an overseas company, and then he earns an invisible
amount.

6.
Can I pay in installments?

Yes, you
can pay installments and/or even arrange for finance from the available
financiers.

7.
Can I get a refund?

Yes, a refund
can be allowed on a Prorata Basis when the Policy is already in force.
One has to write a letter requesting to cancel the Policy after which
refund is allowed.

8.
How do I Claim?

Claims should
be notified immediately and thereafter a Claim Form filled.

9. What if I have not cleared my Premium and I need to Claim?

You can
Claim even if you have not cleared your Premium and have the claim registered,
thereafter you will have to clear your Premium before any payment is made
to you.

10.
If a Claim occurs, do I get a refund?

Generally,
refunds are allowed to Policies that are cancelled mid-term and no Claim
had been made. If a Claim occurs, you do not get a refund of Premium but
having complied with all the Terms and Conditions of the Policy, the amount
payable is the Sum Insured or Limit of Liability less Excess applicable.

11.
What is Market Value?

It is the
amount enough to replace a motor vehicle with one of the same make, model,
and type at that particular time.

12.
What is No Claim Discount (NCD)?

It's a discount
given to Motor Policyholders who have had a Policy for a period of 12
months without a Claim. It's intended to encourage Policyholders to be
more careful and to avoid launching petty Claims.

13.
What is Net Rate?

It is the
Minimum Rate applicable after deductions of discounts.

14.
Why should a Windscreen and/or a Radio Cassette be insured separately?

Because
they are Extensions to a Policy and not part of the Policy.

15.
What is Excess?

The first
amount of each and every claim borne by the Insured.

16.
How long do you take to process a claim?

This depends
on the type of Claim being processed, the amount of Claim and complexity
of issues involved (eg legal, documentation, assessment, approval, etc).
See also our claims procedures for more details.

17.
Do female drivers get a discount?

Yes, because
they are considered to be more careful drivers.

19.
What is Comprehensive Cover?

It is coverage
in Motor Insurance providing protection in the event of physical damage
(other than collision) or theft of the Insured's car.

20.
What is Third Party Fire and Theft?

This cover
caters for only the Third Party both injury and physical damage, and fire
and theft.

21. What is Third Party Only (TPO)?

This caters
for only Third Party involved in an accident for both physical and injury.

22.
What is Reinsurance?

It is the
Insurance of an Insurer.

23.
What is Retrocession?

It is the
Reinsurance of a Reinsurer.

24. What are the other Classes of Insurances?

See our Product
Brochures for more details.

25. What are Ratings on different Classes of Insurance?

Try out
our Quotation Request.

26. How do I Claim?

See our various
Claim Procedures for various Classes of Insurance.