Insurance

1. Insurance overview
Sampati Bazaar helps customers compare and choose suitable Life, Health, Motor (Car & Bike) and Asset/Property insurance plans from trusted insurance partners on one platform. The focus is on explaining coverage, premiums, claim process and key features in simple language so users can protect their family, health and assets with confidence.

2. Life insurance
Life insurance protects a family finances if the earning member dies during the policy term, and some plans also offer savings or investment benefits. Common options include pure term plans for high cover at low premium, as well as endowment, ULIP and pension plans for long ‘term goals.
Key points:
- Purpose: Income replacement, loan protection and long ‘term family security.
- Coverage: Sum assured chosen by customer, often 10 “20 times annual income.
- Features: Lump sum or monthly income payout options, riders for critical illness, disability or accidental death.
- Basic documents: KYC, income proof, health declarations/medical tests depending on cover.

3. Health insurance
Health insurance pays for hospitalisation and many medical expenses, reducing the financial burden of planned and emergency treatments. Plans can be individual, family floater, senior citizen or critical illness specific, with cashless treatment at network hospitals.
Key points:
- Coverage: Hospitalisation, day care procedures, pre and post‘hospital expenses, sometimes domiciliary and AYUSH treatments.
- Sum insured: Typically from a few lakhs up to ₹1 “2 crore depending on plan.
- Benefits: Cashless network hospitals, tax benefit under section 80D, optional wellness and health checkups.
- Important terms: Waiting periods, exclusions, room rent limits and sub ‘limits explained in simple language.

4. Car insurance
Car insurance is mandatory at least for third ‘party cover and protects against liabilities to others, and with comprehensive plans it also covers damage to the insured car. Customers can choose third ‘party, own ‘damage or comprehensive policies, and add extra covers for better protection.
Key points:
- Types: Third ‘party only, own‘damage, comprehensive; OD and comprehensive protect against theft, accident, fire, flood and more.
- Add ‘ons: Zero depreciation, roadside assistance, engine protection, NCB protection etc.
- Legal: Third‑party cover is compulsory under Indian motor law for all cars on road.
- Claims: Simple description of survey, repair at cashless garages and claim settlement.

5. Two wheeler insurance
Two wheeler insurance covers bikes, scooters and mopeds, and at minimum third‑party insurance is legally required to ride on Indian roads. Comprehensive policies additionally protect the owners own vehicle against damage, theft and natural calamities.
Key points:
- Types: Third party, own ‘damage and comprehensive bike insurance.
- Long‘term: Option for multi year third‘party policies to avoid yearly renewals.
- Benefits: Cashless repairs at network garages, No Claim Bonus discounts for claim‘free years.

6. Asset / property insurance
Asset or property insurance protects physical assets such as home building, household contents, shop, office or stock against risks like fire, flood, theft and other specified events. For business owners, it can be combined with liability and burglary cover to safeguard both premises and goods.
Key points:
- Coverage: Structure, contents, fixtures, machinery or stock as applicable.
- Risks: Fire, storm, flood, burglary and other perils as per policy terms.
- Ideal for: Home owners, landlords, small shops, warehouses and offices.