MANAGEMENT

Detailed explanation-1: -The loading percentage depends on several factors such as the Insured Declared Value (IDV), type of claim, the condition of the car and the claim settlement amount paid. Nonetheless, premium loading usually ranges between 10% to 15% of the previous policy premium.

Detailed explanation-2: -The insurers increase your premium amount depending upon your claim history, i.e., the number of times and the amount you have claimed from your health insurance policy.

Detailed explanation-3: -The health insurance premium is increased every year due to the various factors including inflation, age, claim history, and others. Though you cannot control the premium from increasing, but you can take some cautions in account while purchasing and renewing your health insurance policies.

Detailed explanation-4: -As a result, the car insurance premiums increase every year for third party insurance as well as comprehensive car insurance.