While buying an insurance plan, one should check the incurred claims ratio of the insurance provider. Incurred claims ratio is a ratio of money spent on settling claims to money earned through premiums. This ratio for United India Liability Policy is 73.96 % where as for National Liability Policy, it is 69.35 %. This ratio if published by IRDA every year the ones mentioned above are for the year 2014-2015. If you can buy or renew these policies online is mentioned in details of United India and National Liability Insurance. Only an "In-force" policy can be bought at the present time. Polices that are withdrawn by the insurer cannot be bought at the present time.
Multiple covers are provided by different insurance providers. These covers can be inbuilt in the policy or they can be provided by the insurer as additional or optional covers. United India and National Liability Insurance Covers may include personal accident cover, third party liability cover, cover against death due to an accident, cover against disability due to an accident, etc. Usually, a maximum sum that can be provided by insurer against personal accident claim is fixed. Personal accident cover is provided by United India Liability Policy. Third party liability cover is provided by National Liability Policy.
Claim process of each insurance provider is specified in the brochure of the insurance plan. All insurers provide 24 x 7 claim support. Also documents required for claims differ based on the types of claims. Theft claims and Third Party claims usually require an FIR or police report. While Accidental claims usually require a copy of driving license, a copy of RC book, etc. Information about covers and claims for these insurance plans in provided in the policy brochure or policy wordings.
Discounts provided by United India and National Liability Insurance may include discount for automobile association members, for ARAI Anti theft device fitted to the vehicle, etc. No Claim Bonus is also usually provided by all insurance companies. Discount for members of automobile association is not provided by United India Liability Policy. Voluntary discount may also be availed by the policy holders and get reduced premium rates. Voluntary Discount is not offered by National Liability Policy.
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