Terms of Business
Terms of business
"insuranzone.com" owned and operated by First Insurance World Broking Services P.
Ltd.
The agreement
By using our services on the website and comparison technology you are explicitly
agreeing to these terms and conditions and authorizing us to service your account
on your behalf with various insurers to advice, suggest and recommend suitable cover
based on your inputs, collect and pay premiums to your chosen insurers, so that
we can deliver to you the cover you require where it is available from insurance
providers registered in India. However you would make an informed choice of quotes
and selection of insurers provided in the website. If you do not agree to these
conditions please do not use this insuranzone.coms web portal. The grant of use
of this portal to you is non transferable, revocable and the non exclusive license
to use information and contents provided in the portal is only for the intended
purpose and not to use in any manner.
About us
We are an independent direct insurance broking firm authorized and regulated by
Insurance Regulatory & Development Authority (IRDA) and in the service since 2004.
We are permitted to provide advice to clients, arrange and place Life and General
Insurance cover with Indian Insurers on behalf of clients. We are required to comply
the regulations relevant to an insurance intermediary and the regulations are available
in the IRDA web site. Our IRDA registration number is DB/259/04. You can check this
on the IRDA website at www.irdaindia.org or call them on 040 66789768.
Our services
We provide a fully independent and online insurance service only in English language,
designed to save your time and money when it comes to reviewing your insurance.
Our Endeavour is not only to find you the most competitive quotes but also provide
you with all the information required to make an informed choice on which policy
best suits your needs. You will also receive advice on comparing the cost and the
coverage as defined in the code of conduct of the broker's regulation of IRDA.
Our services
Three types of services are provided to customers viz.
"The Best Price" services come with the very best price with most discounts and
all other services shall be at a cost defined below..
"Value for Money" services come with add-on covers and best after sale services.
"Elite Services" customers get value for money services with value addition benefits
thro' a mutual club of policy owners. Elite Services would make be available shortly
for Chennai customers only.
What policies do we offer?
We offer the following lines of insurance policies only from a wide range of insurers.
Viz.,
Private car/Two-wheeler, Auto Rickshaw and Trucks insurance
Accident & Health Insurance
Overseas Travel Insurance
Business Insurance
Life Insurance
Household Insurance
The responsibility
We will provide you with a quotation only in English language, based on the information
you have provided to us. It is essential that all information and answers are true
and accurate and that you also disclose all relevant and material facts including
existing ailments, sickness, injury, damages to persons and or properties if any.
Failure to provide accurate information could lead to your insurance being invalid
and forfeit all benefits under the policy you being liable for any third party costs
in the event of an accident.
In order to accept a quotation provided by our cost & coverage comparison mechanism
you will need to link to the chosen insurer website to verify details to accept
the policy, or where applicable, contact them by phone. Before accepting a policy
it is of utmost importance that all information supplied to the insurer are accurate.
It is your responsibility to ensure all details are correct. It is also important
that you read the insurers terms or conditions as they will differ from ours and
are the terms that you will be agreeing to. The technology used is very sophisticated
but not foolproof. If the information passed is not correct it is your responsibility
to identify the mistake and, as such, we relinquish all liability, which by law
we can exclude, in respect of all losses you may incur.
If you have any doubt whether further information about you, not requested during
the insurazone.com service is required to be disclosed, or that something may be
incorrect, please contact the proposed insurer before you buy the insurance. Hence
it is your responsibility to make an informed choice to buy insurance thro' online
which is suggested based on your inputs supplied to us. All information supplied
for buying insurance online is stored in our systems as required by the regulations
of IRDA.
Website content
We have taken every step to ensure the information contained and displayed on our
website is accurate and up-to-date and to correct any errors or omissions as soon
as practicable after being notified of them. However, we do not guarantee that this
Website will be fault free and we do not accept liability for any error or omissions.
We reserve the right to add, amend or delete content from the site at any time.
Quotations/New Business
All quotations are given on the basis of "Utmost good faith". If you provide us
with incorrect or incomplete information your policy could result in a higher premium
payable or may not be valid in the event of a claim. All transactions would be done
in English only. If you do not know the English language, please desist from using
this website as at present we would not be in a position offer interpretation services
and insuranzone.com shall not held liable for not understanding the terms of business
and the terms of cover offered in English language.
Payments
Payments are accepted by credit or debit card for online transactions and cheque
or cash for direct transactions. Payments make thro' online is transferred to your
chosen insurer excepting the additional charges if anything charged. Any cancellation
of transaction and / or payments made after the authorization of payment / purchase
of the insurance, shall be done only by the respective insurer as per the cancellation
of policy terms mentioned below and insuranzone.com shall not entertain any reverse
transaction requested by the payment gateway provider nor be held liable for non-cancellation
of transaction nor refund the services charges if paid, as yours is a freewill transaction.
However, insuranzone.com will assist you in getting the refund of premium only from
the respective insurer.
Handling Client Money
When you make an online payment to purchase insurance, in order to comply with the
provisions of 64VB of the insurance act 1938, the payment is sent either directly
to the insurer's account wherever insurers have provided the gateway to receive
the payment or sent form the segregated insurance bank account protected by Cash
Deposit or by Bank Guarantee as provided under sec.64VB in the insurance act 1938
with respective insurers who authorize us to issue point of sale document. (POS
doc).
Cover Note / Certificate of Insurance
We may issue the valid cover note / certificate of insurance on behalf of insurers
for proposals accepted and premiums paid as POS doc. as authorized by insurers,
the authority under conventional insurance contract and not under the binding or
delegated authority contract. The insurance cover note as POS doc. will not be issued
for lapsed renewal of insurances and third party insurances, but an acknowledgement
as POS doc. shall be issued along with the proposal form reference number of the
transaction. However the cover note for lapsed renewal will be issued after the
physical inspections is carried out as defined below. The online proposal copy would
be sent to the respective insurer for issue of policy. Policies will be issued by
the respective insurer and the same will be delivered by them or delivered thro'
us. An automated copy of the proposal shall also be delivered in your mailbox online
along with the POS doc. as recorded in our systems.
Commencement of Insurance
The insurance will always commence from 00.00 hrs of the next day following the
date of transaction. However, if the expiry date of insurance is available beyond
the transaction date for which the online insurance is purchased, the insurance
will commence from the next day of the expiry date at 00.00 hrs without a break
in insurance. In case of lapsed renewal which is available only for Chennai customers,
the insurance will commence from the time of the physical inspection is carried
out by the insurer or by its official agency and shall be carried out immediately
after the transaction within 24 hours and the official cover note will be issued.
The POS doc. will also carry the time of transaction for all online purchase of
insurance. In case of TP insurance with break-in period, the period of insurance
commences after a day or two from the date of payment when the vehicle is not produced
for inspection and you specifically agree for such postponement of insurance commencement
date otherwise produce vehicle for inspection for commencing the date immediately.
Vehicle Inspection
It is very essential to understand the importance of vehicle inspection in case
of discontinuance of insurance or lapsed renewal, the vehicle shall be produced
for inspection for effecting the insurance. In the absence of such inspection procedure
as this transaction is done thro' online, we rely only on your declaration made
in the proposal that the vehicle was not involved in any accidents nor have any
damages on the vehicle. In case you decide not to have any inspection as stated
above and the vehicle meets with an accident within 90 days of effecting insurance,
the insurer should be reported immediately for assessment of the loss with first
information report only (FIR) issued by the police and the onus of proving the time
of loss is on you. Certificate of acknowledgement of complaint issued by the police
is not acceptable and your claim cannot be considered. To avoid such a situation
you are advised to get the vehicle inspection done thro' us immediately / or produce
the vehicle to the insurer for inspection / or thro' the official agency of the
insurer which could happen within 24 hrs and the details of inspection arrangement
would be made available in the payment receipt.
Fraudulent and False Claims
If you knowingly make a claim that is false or fraudulent in any way or try to prefer
a claim for old loss/damage occurred prior to this insurance, your policy will become
void and forfeit all benefits under the policy.
Reasonable Precaution
You must take all reasonable steps to keep your vehicle in a safe condition and
to protect it from damage, including fire, theft or attempted theft, malicious damage
and someone taking your vehicle without your permission. You must also make sure
you satisfy all the legal requirements relating to your vehicle and its ownership.
Payment for our services in addition to insurers charges
Vehicles Inspection fee Rs.100.00 for two wheelers and Rs.150.00 for cars. Third
party Insurance transaction fee Rs.75.00 for two / three wheeler and Rs.150.00 for
cars. Policy cancellation fee and / or any other policy related services Rs.100.00Two
/ Three wheeler comprehensive insurance / Duplicate certificate transaction fee
Rs.60.00 Claims handling fee (for two / three wheeler and for The Best Price services
users) Rs.500.00.
Cancellation of Policy
Any request for cancellation needs to be in writing and accompanied with your current
certificate of insurance and policy documents. All cancellations will be subject
to our service charges as detailed above. The terms of your policy may allow insurers
to retain the premium in full or to charge short period premiums at 20% for one
month, 30% for two months, 40% for three months, 50% for four months and 60% for
five months, 70% for six months, 80% for seven months and 90% for eight months or
as defined in the policy document of the respective insurer. Please refer to your
policy document or contact us for clarification. No refunds are given on Short Period
policies, if issued.
Help line
In the event of a website transaction issue or any insurance claim, please contact
our dedicated line 04426564188 during business hours. Our business hours: Monday
to Friday - 09.30 hrs to 18.30 hrs and Saturday 09.30 hrs to 13.30 hrs except on
public holidays under negotiable instrument act. However, all registered users can
register the website transaction issue or any insurance claim any time and would
be attended by our exclusive insuranzone website team/insurance claims teams regularly
during business hours and once in a day during holidays and public holidays for
organizing the insurance survey only.
Complaints
We take all complaints very seriously and hence first speak to us we make every
effort to maintain high standards of service and try to put things right immediately.
Our registered & head office address is First Insurance World Broking Services P.
Ltd. Plot No.268, Second Street, Mogapair Eri, Chennai, TN-600037. Ph.04426564188.
If we cannot resolve your complaint, you are entitled to take it to IRDA. This is
in addition to your legal rights.
Intended use
This site is intended for use of Indian residents only and due to this, applications
from non-Indian residents will, unless otherwise stated, not be accepted. These
terms and conditions shall be governed by and interpreted in accordance with the
Indian Law.
Amendments
We reserve the right to amend our terms and conditions at any time. The amended
terms will be effective from the date they are posted on our site.
Law & Jurisdiction
Insurance is only available to Indian residents. Any disputes will be subject to
Indian Law and the courts in Chennai will have exclusive jurisdiction.
Trading Name
insuranzone is the name of the trading style of First Insurance World Broking Services
P. Ltd. Plot No.268, Second Street, Mogapair Eri, Chennai, TN-600037. Ph. 044 26564188.
Email/Facsimile
Any communication received in this format is normally dealt with between 09.30 hrs
and 18.30 hrs Monday to Friday and Saturday between 09.30 hrs and 13.30 hrs on all
working days.
TCF Practice
insuranzone.com would be Treating its Customers Fairly as defined below
Our customers
can be confident that they are dealing with this company (insuranzone.com) where
the fair treatment of customers is central to the corporate culture.
are suggested with products and services which are designed to meet their demands
and needs only.
are provided with clear information and are kept appropriately informed before,
during and after the transaction and providing most suitable advices by taking into
account of their circumstances only.
are provided with products and the associated services are of an acceptable standard
as they have been advised.
are not put to encounter unreasonable post-sale barriers to change product, change
insurer, submit a claim or make a complaint.