General Insurance

Asset/Property Insurance

What is General Insurance?

Insurance of anything, except human life is known as general insurance. Insurance contracts that do not come under the ambit of life insurance are called general insurance. General Insurance is often known as Non-Life Insurance. General insurance covers non-life assets like – home, vehicles, properties, etc.

Importance Of General Insurance

Most people tend to neglect or avoid general insurance as they feel that are safe and protected from all the risks by having a Life & Health Insurance policy however that is not the case. General Insurance is as important as life or health insurance. Any natural calamity (like earthquake or flood) or unpredictable event like (fire, or theft) can damage or destroy your assets beyond repairs and cause deep financial trouble in your life. Therefore it is imperative that everyone secures all their assets and liabilities optimally through various available general insurance policies. Below are the most important reasons why general insurance is necessary

We Offer The Following Types Of General Insurance Policies:


Ashutosh Financial Services is your one-stop insurance service provider. Our sister concern Ashutosh Insurance Brokers LLP is a Certified Insurance Broker. After qualifying and satisfying various conditions like adequate physical & digital Infrastructure, a qualified team, clearance of requisite exams by Key Personnel, satisfactory capital & net worth requirements, etc. we have obtained the license of Life & General Insurance Broker from the Insurance & Regulatory Authority of India (IRDA).

As an Insurance Broker, we no longer offer Insurance policies of a few selected companies instead, we now offer you the best Insurance Policies by comparing all the policies of all the companies. Our expert and qualified team will carefully select the best Insurance Policy for you after studying your requirements. We assure you that we will provide you with the best Insurance solutions at the most competitive premium rates.

8 MF



In our first meeting we would try to understand your purpose and objectives for taking a general insurance policy. We would also explain to you various important terms of a general insurance policy like – policy cover, risks covered, claims allowed, etc. A proper understanding of these terms would help you in determining the general insurance coverage needed by you in a better way. We would also collect information about you to enable us to select the best general insurance policy for you.

8 MF




We at Ashutosh Financial Services take immense pride in being one of the very few companies in this field to have our own in-house Research & Analysis Department. After the preliminary meeting is concluded we forward our analysis to our Research Department who as Certified Insurance Brokers will compare all the general insurance policies of all the companies as per your requirements and select the best general insurance policy for you at the most competitive rate.

8 MF




Once the best policy is selected and approved by our top management we will approach you again with all the necessary documents (Forms, Policy Information & Benefits, etc). If you have any doubts we will solve them before we proceed to log in to your general insurance policy

8 MF




Once the Investment Process has been completed you will be assigned a Dedicated Relationship Manager. The Relationship Manager will be available at all times to attend to all your needs. Moreover, the Relationship Manager will also inform you about your general insurance premium dates as and when they become due. Moreover, we also help and guide you at all times in matters relating to claim settlement. Our qualified team has years of experience in settling claims with various insurance companies.

Motor Insurance

Driving a motor vehicle without insurance in a public place is a punishable offence in terms of the Motor Vehicles Act, 1988.

Damage to one’s own vehicle by taking out vehicle insurance, in addition to damage to the third party vehicle or property due to an accident, is also compensated by the insurance company for the death or injury of a person due to an accident.

The following two main types of insurance are offered in motor insurance.

Own Damage Insurance :
  • This type of insurance is called full insurance in which an IDV (Insured Declared Value), the sum insured of the vehicle is paid as the cost by the insurance company up to that IDV. The insurance company will also pay for the damage caused to its own vehicle and the damage caused to the other party from the accident.
Third Party Liability Only Insurance :
  • In this type of insurance, the cost of damage to one’s own vehicle is not cover by the insurance company, but the cost of the damage caused to the other party by the accident will be covered by the insurance company.

Personal Accident is an insurance cover wherein, in the event of the person sustaining bodily injuries resulting solely and directly from an accident caused by EXTERNAL, VIOLENT & VISIBLE means , resulting into death or disablement.

An accident may include events like:

  • Rail / Road / Air Accident
  • Injury due to any collision/fall
  • Injury due to Bursting of gas cylinder
  • Snake-bite, Frost bite/Dog bite
  • Burn Injury, Drowning, Poisoning etc

These are only illustrative and not an exhaustive list of type of accidents.

Personal Accidental policy covers accidental death, permanent total and partial disablement apart from temporary total disability, apart from riders such as education grants.

Yes, on payment of additional premium, medical expenses reimbursement can be covered. These expenses are payable, in case, if the claim is admitted under the basic policy cover.

No, it is payable only in case of accidental death.

Contact individual companies for exact details on product.

This Policy is available to persons between the age of 5 and 70 years (Male & Female). In case of Family Package covers, the age of children should be between 5 to 19 years. The age ceiling of 70 years can be relaxed in special conditions subject to suitable premium loading.

No, the coverage under this policy is WORLDWIDE however, claims, if any, will be paid in Indian currency only.

Sum insured is based on various factors namely:

  • Income from gainful employment
  • Type of occupation
  • Age as on date of proposal
  • Period of insurance
  • Conditions prevailing at the place from where the proposal is made etc

Generally Personal Accident policies are maximum for one year only. However, depending upon the requirement of the proposer it can be offered for a period which could even be lesser than 12 months.

(i) When an insured person sustains accidental injuries resulting in loss of limb (as per the table of losses for Dismemberment/PTD) and is certified by a medical specialist that the injury is of a permanent total or permanent partial nature, then only the insured shall deemed to be permanently totally/partially disabled.

(ii) Temporary total disablement arises when a person is not in a position to perform the duties that he performing immediately prior to the accident, which has to be certified by a medical professional. These are general interpretation for easy understanding & not legal wording.

In the event of an accidental injury resulting in temporary total disablement ( to be confirmed by the attending physician )the insured shall be entitled to a compensation @ 1% of sum insured per week subject to a maximum of 104 weeks.

A proof of income such as ITR , salary slip etc is required for claims. A non earning individual can have policies like Janta Personal Accident Policy , Gramin Personal Accident Policy etc

It depends upon company to company.

Under normal circumstances where war and or warlike situation prevails PA cover is not offered. However, on payment additional premium the same can be got covered.

If the insured person does not prefer any claim in the expiring policy, he is entitled to a sum equivalent of some % ( say starting 5%) as cumulative bonus for every such claim free year subject to maximum of 50% (or as decided by the respective company) as cumulative bonus. It effectively means the sum insured under the renewed policy will be increased by 5% every year without charging any additional premium.

There is no grace period for continuity of insurance cover and policy cover expires on the last day of policy period.

There is NO TAX BENEFITS for the premium paid under these types of cover.


  • Immediate written notice should be given to the Insurance Company with all particulars
  • Claim from duly completed along with the following documents should be submitted
  • Medical Certificate about the nature and extent of accident resulting injuries
  • Medical Examiner’s Report
  • Details of treatment rendered by the attending Doctor/Hospital/Nursing home
  • Certificate from the employer to the effect that the Insured was on leave during the period
  • Fitness certificate

IN THE EVENT OF ACCIDENTAL DEATH – The following documents are required to be submitted:

  • Post-mortem Report
  • I.R./Police Report
  • Punchnama
  • Departmental Inquiry, if any
  • Report of Doctor/Hospital/Nursing Home
  • Death Certificate

Yes, one can cancel the insurance policy.

The refund essentially depends upon the company and would be on short rate period. Customer must check the short rate calculations to avoid any heartburn later.

The discount rate remains the same; provided you show evidence that you are entitled to No Claim Bonus from your previous motor insurance company. Evidence can be in form of a renewal notice or a letter confirming the NCB entitlement from the previous insurer.

Yes. Under the Motor Vehicles Act, all motor vehicle owners must have third party insurance cover.

The law in the country makes it compulsory for you to insure your motor vehicle. The compulsory nature of the law protects you against third party liability. While insuring against third party liability is important, it also makes good sense to buy a comprehensive cover to give you all round protection.

The basic insurance covers offered are as under:

  • Liability Only Policy: covering the liabilities towards third parties only, as per Motor Vehicles Act. This insurance is mandatory for a vehicle plying in public roads, as per Motor Vehicles Act.
  • Package Policy: In addition to the above, the loss or damage to the vehicle insured, by specified perils, is also covered subject to the value declared and other terms and conditions in the policy.

No claim bonus is a special discount given for every claim-free year. As per the schedule of tariff, NCB can be earned in the Own Damage section of Policies covering all classes of vehicles but not on Motor Trade Policies (Road Transit Risks / Road Risks / Internal Risks) and policies that cover only Fire and / or Theft Risks.

Yes, in case you are changing insurance company have accrued some NCB from previous insurer, then you get the benefits for your NCB with new company too.

The discount rate remains the same; provided you show evidence that you are entitled to No Claim Bonus from your previous motor insurance company. Evidence can be in form of a renewal notice or a letter confirming the NCB entitlement from the previous insurer.

A cover note is a interim cover of insurance issued by the Insurer before the issuance of a policy, after the Insured has given a duly filled in proposal form and has paid the premium in full. A cover note is valid for a period of 60 days from the date of issue of the cover note and the Insurer shall issue the Certificate of Insurance before the cover note expires.

Incidents such as “Third Party Property Damage”, “Bodily Injury To Self or Third Party” or “Theft” should be reported to the nearest police station, under whose jurisdiction the incident has occurred.

Insurance can be done at any of offices of General Insurance companies generally doing Motor Insurance business.


Premium depends upon various factors viz. type, make, model, cc, usage, place of registration, past claims history etc. of the vehicle. Therefore approach insurance company with vehicle details for exact premium.

Please approach the Insurance companies concerned directly.

Yes, it is possible. A fresh proposal form needs to be filled in. The office may also insist for physical inspection of vehicle and other formalities, depending upon the situation. Please contact the nearest office for assistance.

Depends on company to company.

It is strongly recommended to renew your insurance before expiry of the existing insurance. This keeps your vehicle insured against the risks without any break and takes care of any loss within the ambit of the policy you have. This also retains the No Claim Bonus–the hard earned discount in premium for claim free year/s. Moreover, you are also not worried about the breach of law.

If, the policy has already expired, a fresh insurance can be obtained. Since a break in insurance has occurred, the vehicle will be physically inspected by a company official or an authorized representative/agency, at your cost. The entitlement of No Claim Bonus will be as per rules.

Yes, the insurance can be transferred to the buyer of the vehicle, provided the seller gives in writing to the insurance company. A fresh proposal form needs to be filled in. There is a nominal fee charged for transfer of insurance. Please contact the concerned insurance office for guidance and terms and conditions.

Never commit this mistake. Remember, registration and insurance of the vehicle should always be in the same name with same address. Otherwise the claim is not payable. A fresh proposal form needs to be filled in. There is a nominal fee charged for transfer of insurance. Please contact the concerned insurance office for guidance and terms and conditions.

Yes, please approach the nearest branch, with a written request. A nominal fee is charged for issuing duplicate policy copy.

Kindly refer our Policy Wording for complete terms & conditions

If your vehicle has or you are installing CNG/LPG kit in your vehicle or if there is any other change in the structure/usage of the vehicle, it should be permitted by the RTO-means, it should be registered with the RTO & also entered by them in your RC. Then, you have to approach the insurance company and declare it to them with a copy of the RC. Additional premium is payable for the vehicle with LPG/CNG kit and they will pass an endorsement for the same.

Claim is to be registered at toll free number irrespective of the place of the claim.

The documents and formalities required for processing and settlement of the claim will depend upon the type of vehicle and nature of loss. Please contact the office concerned for guidance.

The general checklist is as follows, however contact respective insurance companies for exact details:
Apart from completely filled claim form insurance companies require a copy of

  • Cover-note/Policy
  • Driving License
  • Registration certificate in case of retail policy and additionally
  • permit & Fitness certificates in case of commercial vehicles

Fill up the proposal form yourself, answering all the questions correctly and sign it. This plays a vital role in deciding the premium and the admissibility of claim. Incomplete or incorrect information may result in denying the claim to you. Therefore, never leave it to any other person to fill it up.

  • Ensure that your and vehicle details are correctly recorded in the policy schedule. Make sure that every digit of vehicle registration number engine and chassis numbers etc. are fully and correctly entered. Any error should be immediately got corrected as otherwise it would create trouble at the time of claim.
  • In case of any material change you should inform us immediately so that it can be corrected by the way of endorsement
  • Read policy terms, conditions, particularly the exclusions etc. very carefully. They are important from claim point of view. Remember, registration and insurance of the vehicle should always be in the same name with same address. Otherwise the claim is not payable.

Yes, Policy can be cancelled and unused premium can be refunded on short period basis provided Alternate Insurance Proof is provided & there is no claim in the policy. In case of claim in the policy no refund shall be there.

The refund essentially depends upon the company and would be on short rate period if there is no claim in the policy. Customer must check the short rate calculations to avoid any heartburn later. Claims procedure – General step by step procedure:

  • Immediately inform the insurance company as soon as possible by Phone , SMS , Letter , Email and take the claim number
  • Collect the following indicative list of document
  • Deposit the completed claim form with the insurance company
  • Answer/satisfy the insurance company for query’s if any
  • Advise the payment receiving mechanism

We offer add on covers in attractive bundles to enhance the benefit for you. However, you can opt for any of the add on covers individually as well.

IDV of the vehicle is depreciated basis table of IDV depreciation as per age of the vehicle mentioned in the Policy. This is the value for which vehicle is insured. When a claim for damage to the vehicle is reported then it is subject to deduction of depreciation on replaced parts as per depreciation schedule in the Policy wording and it is this deduction which is covered under Depreciation Reimbursement cover. So your vehicle value will be depreciated every year as per age of the vehicle even if you have opted for depreciation reimbursement cover.

We offer add on covers in attractive bundle to enhance the benefit to you. However, you can choose for depreciation reimbursement plan independently as well.

Currently our standard offering is for 2 claims. However, option of more claims is also available on specific requests at additional premium.

No, Daily allowance claim is not payable in case of only windscreen damage claim.

No. If claim is for lost or stolen key then FIR is not required.

No. It covers expenses for repair and/or replacement arising out of accidental loss or damage to tyres and tubes.

Yes, claim under key replacement cover is not considered as own damage claim, hence you are eligible for next slab of NCB provided claim made is for Key Replacement only and there is no other own damage claim.

No. Return to invoice cover is available for first registered owner of the vehicle only.

Repair of glass, fibber, plastic & rubber parts covers only one claim during the period of insurance so in case of 2 claims, you are not eligible for NCB.

No. Add-on covers can be availed on comprehensive package policy only.

The Insurance cover commences on the day specified in the Policy Schedule or the time you board the conveyance to leave for onward overseas journey or the Contracted Departure Date as per the policy, whichever is later.

Insurance Cover shall terminate (i) with the end of Insurance Period i.e. the period for which the premium has been paid or (ii) when the insured person first disembarks on return to India.

Where your stay abroad is extended for reasons beyond your control, the extension may be granted by insurance company after collecting appropriate additional premium. You have to contact your insurer with details in such cases.


In case of any emergency, wherein you might need immediate medical care or assistance, you may call upon the Alarm Centre or assistance companies, stating the necessary details.

The original bills and vouchers must be submitted along with all claims.

  • Bills/ Prescriptions/ vouchers/ reports/ discharge summary must contain the name of the person treated, the type of illness, details of the individual items of medical treatment provided and the dates of treatment.
  • Prescriptions must clearly show the medicines prescribed, the price and the receipt stamp of the pharmacy. In the case of dental treatment, the bills/ vouchers/ reports must give the details of the tooth treated and the treatment performed.
  • For reimbursement of the extra costs of transporting the mortal remains to the Republic of India or of the costs of burial abroad, an official death certificate and a physician’s statement giving the cause of death.
  • For reimbursement of extra expenses of transportation of Insured Person to the Republic of India, a medical statement indicating the cause of illness and the necessity of the transportation. Medical statements from relations or spouses will not be accepted.
  • In case of loss of baggage, a Property Irregularity Report or other report usually issued by the carriers in the event of loss of baggage. Proof of value for article above deductibles
  • For personal liability, proof of judicial decision rendered by a court of law.
  • For Personal Accident, bills/ vouchers/ reports/ discharge summary, Death Certificate, First Information Report, Post Mortem Report Legal Heir Certificate and such other documents as applicable.
  • Any other document(s) that the company requires from the Insured Person to process the claim.

You can get your policy cancelled only if you have not undertaken the journey and you produce your passport as a proof that the journey has not been undertaken. Any such request of cancellation will be entertained up to 14 days after the first date of insurance as indicated in the schedule of the policy. In case of cancellation of your policy, a specified amount will be deducted as administration charges, from the refundable amount.

The insurance covers you only for accidents or sickness which happen unexpectedly and unintentionally while you are travelling abroad.

Yes, one can cancel the insurance policy.

The refund is essentially depends upon the company and would be on short rate period. Customer must check the short rate calculations to avoid any heartburn later. Claims procedure – General step by step procedure:

  • Immediately inform the insurance company as soon as possible by Phone, SMS, Letter, Email and take the claim number
  • Collect the following indicative list of document
  • Deposit the completed claim form with the insurance company
  • Answer/satisfy the insurance company for query’s if any
  • Advise the payment receiving mechanism

The client can issue Marine Insurance Certificates anytime, anywhere from the comfort of his office/home to meet his business requirements.

  • Any number of users in the client’s organization even from different locations can operate e-Marine with distinct user Ids and passwords.
  • The certificates can be viewed at various stages during issuance. Changes, if any, can be made then and there ensuring Quality documentation.
  • As the records get updated simultaneously at our office too, there is no need to submit separate declarations/details of certificates issued.
  • Balance available in the Deposit a/c can be viewed by the client at any point of time facilitating timely replenishments.
  • The unique encryption code on every insurance certificate facilitates verification of its authenticity, by any third party, anywhere in the world by simply logging on to our website and giving the encryption details.
  • Absolutely Free. There is no fee charged for e-Marine usage. Neither is there any need to install additional software. The only requirements are Internet connectivity and Acrobat Reader Version 4 and above.

Security Concerns

While developing this tool, the most important factor considered has been the security of data submitted by the client. The following features ensure that e-Marine is 100% Secure.

  • Data input and Information Access only by distinct user Ids and passwords.
  • During e-Marine operation, if PC left unattended for more than 5 minutes, Automatic Timeout takes place necessitating a new login.
  • The Server is maintained and monitored as per AIG’s strict worldwide standards.

Marine Loss Control Engineering is one of the most important offerings of Tata AIG General Insurance Company Limited’s Marine policies. It helps get our Assureds’ products delivered on time and in undamaged condition to their clients.

  • This avoids loss of market share, products liability claims, and protects the brand integrity of the client.
  • This is achieved by scientific analysis, tailor-made recommendations and cost effective and sellable solutions provided by an experienced and full time dedicated team spread across the globe spanning different time zones.
  • MLCE helps our clients be more profitable by reducing loss frequency and severity and by giving value added service.
  • Provide timely and accurate information on worldwide and regional industry trends, high risk areas, potential hazards and threats.
  • Use of a well identified network of surveyors and security advisors that report under AIG standards
  • Direct contact with the different transport vendors and security providers
  • True involvement / Open to feedback / Constant Follow up

Our Key USPs are as under: