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Car Insurance Claim Process – How to claim Car Insurance?

How to file a car insurance claim? Well, it is one of the frequently asked questions by many people. A car insurance helps to compensate damages or losses incurred during the car accident. The losses are compensated by car insurance company on filing claim. One should know the process of car insurance claim before opting for car insurance. Here is a complete guide explaining Types of Car Insurance Claims and process of filing an insurance claim.

Let’s assume that you had a car accident and your car is badly damage and you suffer with a huge loss. But fortunately, you have purchased car insurance and as promised your insurance company will compensate against this loss. Now in order to get compensated you need to inform insurance company. This process is known as “CAR INSURNACE CLAIM”.

car insurance claim

Types of Car Insurance Claims

There are two types of car insurance claim process. The details are given below.

Car Insurance Cashless Claims

The first type of car insurance claim is a cashless claim. In this claim, you have the compulsion to use network car garages for vehicle repair. In this claim, car insurance provider settles the claim with the garage on behalf of the policyholder. You need not pay any money. The entire process is cashless.

Car Insurance Reimbursement Claims

The second type of car insurance claim is reimbursement claim. In this claim, you can use any garage for vehicle repair. In this claim, you need to settle the claim to workshop or garage. At a later stage, you need to file a claim based on terms and condition. However, you need to submit the bill and repair receipt with the policy provider.

Car Theft Claim

If your car is stolen or theft you need to file car theft claim with insurance company. You are also required to file formal FIR with police. You need to file FIR copy, car documents and registration certificate at the time for filing claim. Few insurance company also ask for the car keys.

You need to wait till police issues non traceable certificate. It will take reasonable time by police to issue the said certificate. You need to produce this certificate at insurer for claim settlement in case of car theft. The insurer will pay current market value of the car. You must check that your policy cover car theft or not.

Also Read – How to Choose Car Insurance Policy – Key factors and Riders

How to file Car Insurance Cashless Claims?

Follow the steps given below to file a cashless claim of car insurance.

  • Register the cashless claim by calling the insurance service provider using toll-free number or via website, email or mobile app.
  • Once the claim is registered, you will receive a claim registration number along with surveyor details via SMS or E-mail. You can use this claim settlement for future communications/references.
  • You need to take the damaged vehicle to the nearer authorized network garages of the insurance provider.

A network garage is the garage that is affiliated with your car insurance company. Your insurance company will directly deal with affiliated garage.

  • You need to submit all required documents to the surveyor. The document details are given in the next section.
  • Once a survey is completed, car insurer confirms their liability.
  • After approval car repairs take place.

How to file Car Insurance Reimbursement Claims?

Follow the steps given below to file car insurance reimbursement claims.

  • Register the claim by calling the insurance provider on its toll-free number or using the website or by email.
  • Once the claim is registered, you will receive a claim registration number along with surveyor details via SMS or E-mail. You can use this claim settlement for future communications/references.
  • You need to take damage vehicle to any car garage for repairs.
  • You need to submit all the required documents with the surveyor.
  • Once the survey is completed, you need to get your car repaired. Once it is repaired you need to settle the bill.
  • The bill along with a repair receipt you need to submit to the car insurance company for the reimbursement process.

Documents Required

You require following documents for filing a claim.

  • Claim form signed by the insured
  • Original policy copy
  • The copy of RC of the vehicle
  • Copy of the driving license
  • Photocopies of the PAN card
  • The original FIR copy in case of theft

Do & Don’ts for Car Insurance Claim

  • FIR is mandatory in case of a fatal accident & car theft. So, in case of an accident causing property damage or life, you need to contact the police station and raise FIR.
  • Go through policy document and verify that you have a normal policy or zero debt policy. Zero debt car insurance provides complete coverage. Zero debt policy is provided only for new cars (up to 3-5 years from date of purchase).
  • Be honest and prompt to raise policy claim. Don’t delay claim. It may lead to rejection.
  • Maintain the original/copy of repair bills and receipts till you get a final settlement.
  • Know your car insurance coverage and exclusion.
  • Keep a copy of your insurance policy in your car all the time.

You should check for claim settlement ratio, car insurance premium, financial stability and after sales service before buying a car insurance. If you have any questions related to car insurance claim process, please post it in the comment section given below.

Sharekhan or Zerodha – Stock Brokers Comparison

Sharekhan or Zerodha – Sharekhan is among the leading online stockbroker. Sharekhan offers a wide range of financial products and services including stock broking, mutual funds, IPO, Loan against securities, etc. Sharekhan is a Full-service broker. Sharekhan charges 0.03% intraday brokerage. Sharekhan is famous for its robust products and strong customer relationship.

On the other hand, Zerodha is a discount broker. Zerodha is famous for its speed and technology. Zerodha offers stock trading as well as direct mutual fund investment. You need to pay Rs.20 per trade on Zerodha, which is very low compared to other brokers.

If you are planning to open a new trading account or planning to change from an existing stockbroker, this post is for you. In this post, we will compare two top stockbrokers – Sharekhan and Zerodha.

zerodha vs Sharekhan

Sharekhan or Zerodha – Stock Brokers Comparison  

Sharekhan – Review

Sharekhan is a Full-service broker. Sharekhan offers stock investment & trading. In addition to stock investment Sharekhan also offers research advisory, portfolio management services, mutual funds, currency trading, IPO investment, and investor education.

 Sharekhan is an old and trusted full-service broker with vast experience. Sharekhan is now acquired by leading finance company BNP Paribas in 2016. For advisory and portfolio management Sharekhan is best. However, you need to pay higher brokerage charges. Key Features of Sharekhan are given below.

Sharekhan Key Features

  • Classic and TradeTiger two types of accounts.
  • Real time portfolio tracking with price alerts and Instant credit transfer.
  • Facility of Free Trading via phone.
  • Single screen interface for cash and derivatives
  • Postpaid and Pre paid plan available
  • Four different trading software options for customers
  • Research Advisory, PMS and Investor education available

Sharekhan Charges

Sharekhan Trading & Brokerage Charges

Category Fees
Equity Delivery Trade 0.50% or 10 Paise per share
Equity Intraday Trade 0.10%
F&O Trades 0.10% on the first leg and 0.10% if squared off on other day
Options Trades 2.5% or Rs.250 per lot on premium
Currency Future 0.10%
Currency Options 2.50% or Rs.30 per lot
Commodity 0.10%

Account Opening Fees & AMC charges 

  • Demat Account AMC – Rs.400 (Free for 1st year with trading account)
  • Trading Account opening charges – NIL
  • Trading Annual Maintenance charges – NIL

Also Read – Zerodha Vs Angle Broking – Stock Broker Comparison – Review

Sharekhan Trading Platforms 

#1 Sharekhan Website

Sharekhan provides very good web-based trading experience on the website. On login, you will be able to see a single dashboard with detailed analysis and tracking of all your investments. You will find multiple features on the Sharekhan website. One such feature is the Investment cart.

The investment cart allows you to track and buy stocks in the bulk. You will be able to see stock price changes on a real-time basis. The investment cart will also provide an option to view the last two months’ volume cart.

In addition to the Investment cart you will get a goal-based investment tool Neo. Neo is Robo advisor that helps you take an appropriate investment decision. You need to set a goal, plan with Neo, and start investing.

#2 Sharekhan App

Sharekhan App is available for Andriod as well as iPhone users. You can use Sharekhan App for stock trading and mutual fund investment on the move. You will be able to see the latest quotes, stocks, mutual funds, and other financial data and portfolio on this app. You can start, modify, and pause your SIP anytime. This app also offers a facility to create a watchlist for your stocks, mutual funds, future & options, and currency. You can place all types of orders such as selling against the margin, bracket orders etc.  This app also offers Sharekhan classroom training on the app.

#3 TradeTiger

TradeTiger is a desktop trading platform specially designed for the trader. The speed of trading and advance tools for better decision making are positive sides of this trading platform. You can create your own shortcuts and customized screens on this platform for a personalized experience.  You will also get expert recommendations and real-time news on this tool. TradeTiger is a paid tool. Sharekhan charges Rs.10000 for an annual subscription to this tool.

#4 Sharekhan Mini 

Sharekhan Mini is a special app for customers with a low-speed internet connection. Sharekhan Mini can be accessed from mobile phones as well as from the desktop browser. Advanced technology is adopted to increase the speed on this platform. Sharekhan Mini can be used on Andriod, iPhone , Windows phones or on PC. This platform also allows the dark theme to save mobile battery. This platform also offers the facility to create a multiexchange watchlist.

#5 Dial & Trade 

Sharekhan offers free dial and trade service. You can call 022-25752300 /022-25752900 and book the trade. The trade booking under equity and derivative is allowed between 8:30 AM to 5 PM. You can place unlimited orders via this method. This facility also allows you to discuss market trends with the executives. It will help you to make an informed decision.

In short, Sharekhan is one of the best full-service brokers that offer very good services for the customers. Sharekhan is best for experience trader who is ready to pay higher brokerage charges.

Sharekhan pros

  • You will get customized advisory services and products based on your risk profile.
  • Trade with ease with use of different trading platforms online browser based, desktop based and mobile based.
  • Multiple brokerage slabs available as per customer need. For higher trading volume brokerage charge is low.
  • Sharekhan provides facility to learn stock market trading and investment via online platform, classroom training, seminars and workshops.
  • Sharekhan doesn’t charge for Online Funds Transfer from bank account and Funds Pay-out to bank account.
  • Call & Trade Facility available at Sharekhan.
  • In-depth and real time reports available for the analysis.
  • Mutual fund investment and SIP investment is allowed.
  • Robo advisor facility is available

Sharekhan Cons

  • The brokerage cost of Sharekhan is very high.
  • 3-in-one account not available as banking services is not offered by Sharekhan.
  • Classic account holders are not allowed to trade in commodities.
  • Direct Mutual funds investment option is not available.
  • Plans are Expensive

In short, Sharekhan is one of the best full-service brokers that offer very good services for the customers. Sharekhan is best for experience trader who is ready to pay higher brokerage charges.

Zerodha Review

Zerodha is a leading discount stockbroker in India. Zerodha is best for traders looking for low brokerage fees and high-speed transactions. Zerodha Invests in the latest technologies and upgrades trading platforms from time to time.

Zerodha has a large customer base. Zerodha offers free delivery of equity and a flat fee of Rs.20 per order. You can also invest in the direct mutual funds via Zerodha.

Zerodha Key Features 

  • No delivery charges applicable and brokerage charges are very low
  • Speedy Trading platform incorporated with advanced technology
  • Historical data storage with advance charting facility
  • Regional language support available
  • Multiple Trading Platforms
  • Direct Mutual Funds Investment facility available
  • Learning facility available at Zerodha

Zerodha Charges

Zerodha Brokerage Charges

Category Fees
Equity Delivery Zero
Equity Intraday Trading Rs. 20 or 0.03% (whichever is lower)
Equity Options Flat Rs. 20 per executed order
Equity Futures Rs. 20 or 0.03% (whichever is lower)
Currency Options Rs. 20 or 0.03% (whichever is lower)
Commodity F&O Rs. 20 or 0.03% (whichever is lower)

Zerodha Account opening and AMC Charges

  • Zerodha Account opening charges – Rs.200 Trading and Demat Account & Rs.100 for commodity Account
  • AMC Charge – Rs.300 paid quarterly

Zerodha Trading Platforms

#1 Kite

Kite is a unique trading platform by Zerodha. The latest version of Kite is 3.0. I have already done a detailed review of Zerodha Kite in the separate post. A kite can be used on the mobile, tablet as well as browser. You can trade with Kite using a click of a button.

#2 Coin

A coin is a direct mutual fund investment platform by Zerodha. This platform is available on the website as well as a mobile app. You need not pay any commission for buying a mutual fund using this platform.

#3 GoldenPi

GoldenPi is a platform for fixed-income investments. You can invest in bonds, debentures, and corporate fixed deposits using this platform.  This platform makes use of automation and technology to provide real-time updates on incoming interest payments, new investment options, etc. It is just a platform where you can do transactions.

GoldenPi takes care of end to end investment process starting from KYC to processing.

Zerodha Pros

  • Delivery Charges are NIL.
  • Multiple Trading platforms available.
  • The training facility is for the beginner is available.
  • Investment in direct mutual funds allowed.
  • Flat brokerage and easy to understand pricing.
  • Manage all investments on a single platform.
  • Good Customer Support and Quick Resolution.

Zerodha Cons

  • You will not get any advisory facility on this platform.
  • The response of the platform is slow during peak hours.

Final Takeaway

From the above comparison it is clear that Zerodha is best online discount trading account. If you are veteran in stock market trading, you should go for Zerodha as stock broker. Zerodha is best for stock market trading.

On the other hand, if you are beginner and your purpose is stock market investment and not trading you can opt for Sharekhan as stock broker. Sharekhan is costly option when it comes to stock trading.

Which one is best as per you Sharekhan or Zerodha?

*Note – All information given above is collected from the stockbroker website as on 7/7/2020. The account opening charges, margin, and other fees, etc can vary from time to time. You are requested to refer to the stockbroker website for the latest information.

30 Home Based Business with low investment

Home Based Business – Leaving a 9 to 5 job and starting own business is a dream seen by millions of the people. However, very few can pursue their dream. This is mainly due to lack of business acumen or requirement of capital for starting own business. If you are going through a similar phase here is a simple solution. Keep your 9 to 5 job as it is and try home-based business.

So, excited to start new income in part time!

Here is a list of 30 Home Based Business Ideas that are proven and worth trying. Most of the home-based business ideas given below can be started with low investment. For better understanding, I have divided the home based business ideas list into the following categories.

#1 Product Based Business Ideas

#2 Service Based Business Ideas

#3 Online Business Ideas

Home Business

30 Home Based Business with low investment

Product Based Business Ideas

#1 Network Marketing

A first home based business idea is to join a networking marketing company. It is a zero investment part-time business. In this business, you need to sell products of network marketing companies. You will get a commission for this. The success of this business depends upon your networking skill & social contacts.

#2 Insurance Agency

You can become an insurance agent and open your own insurance agency to earn money part-time. You need to sell insurance policies to the customer to get commission income. You can sell life insurance, health insurance, and general insurance policies.

#3 Chocolate Making

Chocolate making is a very good home based business idea for women. In this business, you need to make chocolate at home. The raw material and recipe for making chocolate are easily available. You need to market your business well to get success in this business.

Also Read – 100 Business Ideas with low investment

#4 Customized Gift Store

The customized Gift store is next on the list. In this business, you need to prepare customized gifts for the customers. Few examples are a photo frame, printed t-shirt, printed mug, stationery items, etc. You should be creative and expert in making a gift.

#5 Home Bakery

Home bakery business means a business of backed items such as bread, cookies, cake at home. If you are expert in cooking and make baked items you can start this business. You need to establish contacts with local stores for selling your homemade products.

#6 Candle Making

Candles are used exclusively as decorative items as well as for religious purpose. Candles are easy to make and require a minimum investment. At an initial stage, you may face challenges in establishing a candle making business. You need to work hard for selling candles.

#7 Papad & Pickle Making

Papad & Pickle making is very good home based business idea for women. Papad & Pickle making can be started from home. In this business, you need to make order based papad and pickle. You can sell papad and pickle in the local market as well as international market.

#8 Used Book Store

The education field is evergreen field. Books are used widely in the education field. Many students prefer to used books to save money. So, starting used book store at home could be a very good business option. The investment required for this business is very low.

#9 Detergent Making

Detergent is FMCG item and used in every house for washing cloth. If you have expertise in manufacturing of detergent you can start this business. You need to work at the packaging and marketing your products. Make sure to study domestic demand and completion before entering this business.

#10 Dry Breakfast

One of the simple home based business ideas is dry breakfast or nasta business. It is more suitable for female, however male with cooking knowledge can also start this business. The success rate associated with this business is very high.

Service Based Business Ideas

#11 Appliance Repairing Services

A breakdown in the home appliance such as TV, Fridge, washing machine and geyser are very common. People always seek help for the repair of home appliances. In order to address this problem, you can start the appliance repairing service business. You need to employee two-three people for offering these services.

#12 Tuition Class

Tuition class is one of the best part-time home based business ideas which can be started from home. In this business, you need to give coaching to the students. You should be expert in teaching various subjects. You need to invest money for buying blackboard and benches.

#13 Accounting Services

Finance and accounting service is next on the list of home based business. Accounting services business requires knowledge of accounting and associated software. Most of the small and medium organization outsource finance and accounting services.

#14 Match Maker

Matchmaking or marriage bureau is next in the list. This business is suitable for female. You require a database of a male and female candidate for marriage. Initially, you need to place a lot of efforts for this business.

#15 Mobile/Computer Repairing

Mobile & computer repairing is a very good business option. You can start this business from home. You need to do a course of mobile and computer repairing before starting this business. Mobile and computer repairing is one of the best business with very good market potential.

#16 Beauty Parlor

Female with experience and knowledge in beauty treatment can open own beauty parlor at home. If you are not aware of beauty treatment it is better to do some course before starting beauty parlor.

#17 Real Estate Agency

Real estate agency is a business option where you need to help people in buying, selling or renting properties. You can earn good commission income via real estate business.

#18 Travel Agency

A travel agency is a business where you need to arrange a travel plan and book ticket and hotel for the people. You can open a travel agency at home. It is a good idea to opt for the franchisee of already established travel agencies.

#19 Yoga Instructor

Yoga instructor is a new and lucrative career option. You can become yoga instructor by doing yoga course. Once you learn yoga you can start your own yoga class.

#20 Event Planner

Event planning is a business where you do the planning and execution of big events. If you are good at management and planning skills you can become an event planner. It is a good option where you can earn a lot of money.

Online Business Ideas

#21 Freelancing

Freelancing is first in the list of online business ideas. Freelancing is a very good business. Freelancing means doing projects online and earning on a project basis. The projects are mostly related to IT-related such as website development, SEO, data entry project, etc.

#22 Blogging

Blogging is one of my favorite online business ideas. In blogging, you need to make your online blog and share unique content on it. Once your blog gets the popularity you can earn money via advertising or affiliate marketing.

#23 Affiliate Marketing

Affiliate marketing is a popular online business option. In affiliate marketing, you need to sell products and services of your affiliate company. You will be paid with a commission on every sale. You can use WhatsApp, Facebook or your own website for affiliate marketing.

#24 Virtual Assistant

A virtual assistant is a job profile where you need to assist online in completing various jobs such as sending e-mail, typing documents, data entry, office work, etc. You will be paid on an hourly basis. There are many online websites offering the job of virtual assistant.

#25 Online Consultancy

Online consultancy is next in the list of home based business idea. Here you need to make your own website offering online consultancy. Alternately, you can search for the website offering consultancy jobs to people.

#26 SEO Consultancy

Search Engine Optimization is pressing need nowadays. Webmasters and website owner are ready to spend money for good SEO services. If you have learned SEO or know SEO you can start your SEO consultancy business online. There are many people who are earning their lives on SEO consultancy.

#27 Starting Youtube Channel

You can start a YouTube channel and make money. You need to upload unique videos on the channel. You can use high-quality camera or software for making videos. Once your channel reaches recommended subscribers you can apply for the YouTube Channel Partner program for placing advertisements on your videos.

#28 Online Courses & Teaching

This idea is for a skilled person with good educational background. In this idea, you need to start your own website and put an online course. You can charge a visitor on a subscription basis. Another option here is to join websites offering these types of services.

#29 Online E-commerce Store

Online E-commerce store is a place where people can buy and sell their products and services. It is a very good idea but requires a team of competent people and moderate investment. You need to face a lot of competition in this business.

#30 Content Writing

Content writing is a part-time home based business idea. Many bloggers and website are looking for a good content writer. In this idea, you need to produce unique content for bloggers or website owner. You will get money for the content written by you. The amount depends upon the type of content and word count.

Over to You

I will be adding new home based business ideas in the above list as and when I come across. If you have any home based business ideas to be added here you can contact me via comment section or contact us page. If you like this post, do share it with your friends and colleagues.

How to Make Will Online?

How to make will online? – My friend is working professional. He has planned his wealth so well. He has a house, bank balance, investment. He is so happy. His life seems all set. He has very good career, savings & insurance. But, he is lacking in succession planning. He has not prepared his will. He passed away recently without any will. He has not placed any nomination in the investment. His family suffered a lot in absence of succession planning.

Believe me or not, making a WILL is one of the important aspects of financial planning. What will happen to your wealth after you is decided by a document called as WILL.

In absence of a will, distribution of wealth to a family can be delayed or may be improper. In India, a rule of succession is applicable in absence of a will. This means property and wealth are disturbed among lineal descendants whatsoever. So, it is better to make a WILL to ensure that your asset and properties are given to desired beneficiaries. If you have not made your WILL and planning to do so here is a complete guide for making WILL online.

make will online

Factors to consider while making a Will

You should consider following factors while making a Will.

Assets Covered Under the WILL

The first thing you need to answer is asset covered under WILL. All your movable and immovable assets including Fixed Deposits, Money in Bank Account, Securities, Real Estate, Bonds, Art, precious metals like gold, diamond, silver your websites and your Intellectual Property Rights can be covered under WILL.

Beneficiaries

Beneficiaries are person or organization that you wish to benefit from your will. Any person of any age including a minor can be beneficiary.  You should decide right beneficiary for your asset before making a Will.

Executor

An executor is someone you have named in your Will as the person you would like to be responsible for handling your affairs after your death. The executor has to deal with all paperwork and legal aspects. An executor should be a trustworthy person.

Executor services can provide valuable guidance to help you create a comprehensive and legally sound will, addressing potential complexities and ensuring a smoother estate administration process in the future.

Will Document

Please note that it is not mandatory to use stamp paper for making a will. You can use plain A4 size paper and write a statement of will. This document must be signed by two witnesses.

Registration of Will

It is not mandatory to register will. But, looking at fraud and document tampering it is advisable to register the will. In order to register WILL you need to contact the registrar and pay nominal fees for registration.

Also Read – Top LIC Pension Plans for Retirement Planning

How to make Will Online?

There are many websites that offer the facility of making WILL online. One such website is willjini. Willjini provide services of making Express Will, Standard Will, Premium Will and Joint Will online. You can also opt for customized offline will. It is a paid website.The cost of every will is different.

  • Express Will – Rs.1500
  • Standard Will – Rs.4000
  • Premium Will – Based on time and Efforts
  • Joint Will – Rs.14000
  • Customized Offline Will – Rs.10000

Express will is simple, quick and available at minimum cost. It just take 10 minutes to make express will. The will made via this method is secured, reliable and Legal as per law.

The The method for making Express Will online using willjini is given below.

Step 1: Visit the willjini website. Click on Login/Registration.

Step 2: Register by providing basic information.

Step 3: Once account created, login using your USER ID and PASSWORD.

Step 4: Create your profile and fill up basic information. Make a payment for Express Will.

Step 5: Next, fill all the questionnaire provided. This includes family details, the assets you own and distribution wishes and witness detail. Review the details provided and click on Submit.

Step 6: Click on generate button to get an email with Word document as your will.

Take a printout of the Final will document on a plain paper and Sign it in the presence of two witnesses.

Advantages of Online Will

Few advantages of Online Will are given below –

  • Easy Process for creating a Will through your mode of choice
  • Complete Online guidance by legal experts
  • Simple & Convenient way to secure wealth distribution
  • Safe and secure.
  • Will creation and correction

Over to you –

Do you prefer online option for creation of will?

Have you created your will online? If yes, do share your experience.