General Insurance: Bhargav Dasgupta

Some general insurance companies offer longer term (two-year) health insurance policies. What are the benefits of having a long-term health cover over an annual renewable one?
A longer term health insurance plan enables the policyholder to enjoy continuous health insurance cover over two years as compared to one year in case of a standard policy. It is more convenient, since one can avoid the hassles of renewing the policy every year. In addition, as the second year's premium is paid upfront, there is no change in premium for that year, which may happen in case of annual renewal.

The Regional Transport Office mandates pillion riders also wear a helmet but many don't. In case such individuals meet with an accident, will their claims against a personal accident cover be honoured? Similarly, many two-wheelers have more than two riders. Will claims arising out of road accidents of such vehicles be honoured?

It is extremely important that vehicle owners adhere to road safety rules to ensure their own safety and that of the others. With regard to a claim against personal accident cover, it would be honoured considering that the claim is payable in case of accidental injury to the insured, irrespective of the conditions under which the accident took place. On the other hand, any motor insurance claim made towards vehicle damage may be dishonoured if one has not adhered to rules, for instance, not possessing a valid driver's license or driving under the influence of alcohol.

I have started vegetable farming on the outskirts of Mumbai and sell the produce at the Agriculture Produce Market Committee. The produce is seven to eight kgs a fortnight. Can I buy a weather insurance cover for my farm? How much insurance can I get?

You can purchase weather insurance cover for your farm to protect the crops from unfavourable weather conditions. You can obtain the policy at subsidised rates from the insurance company which has been notified to provide weather insurance in your district by the state government for specified crops. The insurance policy will be available at all scheduled and co-operative banks in your district.
The views expressed are expert's own. Send your queries to yourmoney@bsmail.in
Today, Bhargav Dasgupta, MD & CEO, ICICI Lombard General Insurance, answers your questions