Indian insurance is categorized distinctly in to several types. These plans are specifically designed to meet the requirements of the Indian consumers. Overseas travel insurance, Student insurance, Health insurance, Motor insurance, Personal Accident insurance, domestic travel insurance and Home insurance are different types of Indian insurance plans. Consumer should understand his/her insurance requirements to make a productive choice while buying. Following is an insight into different Indian insurance categories.

Overseas Visitor Travel Insurance
Indians while traveling to foreign countries require proper insurance coverage. Travel insurance is also called as overseas visitor travel insurance that is specially designed for those who are traveling out of India to foreign countries. Once you are out of your home country then your domestic health insurance coverage becomes ineffective. Health care in overseas nations is not at all cheap and may bankrupt you if you do not have travel medical insurance.

Student Insurance
Overseas education is very common for Indian students these days. While going abroad for education students need health insurance coverage. Student Medical Insurance covers you for medical expenses, Sponsor protection, Bail Bond etc and helps you continue your studies smoothly. International Insurance products will not cover you for protection and compassionate visit. Medical Insurance is a mandatory for students in many overseas universities.

Health Insurance
Health ailments are unexpected for everyone and health insurance safeguards the insured from unexpected financial catastrophe during a medical emergency. Health Insurance plans are distinguished as ‘Individual’ and ‘Family’ plans. Individual health insurance plan is designed to cover the insured alone whereas Family plan is for your entire family. Family plan in health insurance is usually called as ‘family floater’ by most of the Indian insurance companies. Family floater is worth buying than compared to individual health insurance policies. The sum assured in the ‘family floater’ can be optimally utilized by your entire family.

Motor Insurance
A motor vehicle is almost treated as another family member by the owners. In the present hectic traffic, safeguarding your vehicle from collision and damage is very difficult. The cost of repairing the damage may leave you with huge bills. To get financial assistance during such crisis you require Motor insurance. Under the provisions of Motor Vehicles Act all the vehicles, which are running in public places must have Motor insurance policy at least to cover third party liability, as specified under the Act.

Personal Accident Insurance
Accidents are always unpredictable events and sometimes ruin us psychologically and financially. Personal Accident Insurance gives compensation to individuals against death, loss of limbs, loss of eyesight, permanent total disablement, permanent partial disablement and temporary total disablement, solely and directly resulting from accidental injuries etc. These unanticipated events can kill your peace of mind. Personal accident insurance secures the insured from financial crisis during such emergencies.

Home Insurance
Natural calamities are recurring nowadays and devastating the landscape. Your dream home requires a proper insurance coverage to shield from financial loss during a natural calamity. Home insurance can cover losses to the structure and contents of your home from any natural or man-made calamity. The disasters that can be insured against are fire, earthquakes, storms, cyclones, tempests, tornadoes, hurricanes, floods or inundation, lightning strike, explosion, landslides, impact by vehicles or aircraft, and bursting or overflowing of water tanks and pipes.

Domestic Travel Insurance
Insurance coverage is essential whether you are traveling to domestic or international destinations to avoid financial crisis during an emergency. Unexpected events like flight delays, baggage loss, ticket loss etc. can spoil your travel experience. Domestic insurance assures financial safety during unexpected emergencies while traveling within India.

There are certain things to be considered while buying Indian insurance. Choosing the right policy that suits your requirements is a challenge. Go through different insurance products to learn the benefits, exclusions, sum assured, deductibles, Co-insurance. To make an informed decision, it is advisable to learn about different Indian insurance plans.