Reader's Corner: General Insurance

Medical expenses getting deducted due to limits/cappings under group health policy can be claimed under individual health policy

I bought a second-hand car recently which has insurance cover from its previous owner. Can it be transferred to my name now that I own the car?

Yes. Insurance cover can be transferred to new owner’s name when he buys a second-hand car with a valid in-force motor insurance. The liability- only cover (that is, third-party cover) is deemed to have been transferred in favour of the new owner with effect from the date of transfer.

As a process, the new owner needs to first get the vehicle ownership transferred at the  respective Regional Transport Authority office. The ‘Own Damage'