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HDFC ERGO’s Three-in-One Policy Relieves Insurers

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HDFC ERGO’s Three-in-One Policy Relieves Insurers
Nirmala Konjengbam - 25 September 2019

Insurance is our saviour! It allows us to transfer our risk for a very little amount of money and always comes in handy in times of financial crisis. We all work hard in our lives, dedicate so much towards earning money, building up assets and improving our lifestyle but all of that could go for a toss in case of an unexpected emergency, hence it’s imperative to be ready for any untoward incident.

Insurance is the one-stop solution but sometimes maintaining different policies for various needs could become a major hassle. In fact, the requirement to purchase different policies for different needs is also a major roadblock in the path of expanding the umbrella of insurance coverage. And to tackle such an issue, insurers have been offering one policy with multiple benefits. In such a case it’s easy to purchase and renew a policy while also ensuring cover for multiple things. One of such product is the new 3-in-1 insurance plan from HDFC ERGO General Insurance Company.

This 3-in-1 insurance plan will provide the all-inclusive coverage under home insurance, personal accident insurance and cyber insurance policy - e@secure. And all of this will be available at an affordable rate of just Rs 8 per day (Rs 2,920 for a year).

“In today’s demanding times, most consumers lack the time or inclination to assess multiple policies for covering various perils. HDFC ERGO has launched a 3-in-1 bundle insurance plan to serve as a single-umbrella, need-based solution for multiple risks. The plan is priced economically and is available across a vast distribution channel to ensure that a larger number of individuals are safeguarded, inclusively,” said Anuj Tyagi, Executive Director, HDFC ERGO General Insurance.

The policy will cover furniture and fixtures and electronics such as TV, refrigerator, washing machine among others under homes insurance. Cyber insurance policy tackles the most common dangers of our online activities including unauthorised online transactions, phishing and email spoofing, identity theft, damage to e-reputation, cyber bullying, e-extortion as well as covers end-to-end legal costs incurred for any of these cyber-crimes. Under the personal accident insurance permanent disablement, accidental medical expenses, mobility extension and daily hospital cash will be covered.

Apart from the ease of maintenance and purchase, there are serious numbers which back the need of such a policy. According to National Disaster Management Authority, around 60 per cent of Indian landmass is prone to quakes and 8 per cent susceptible to cyclone. The recent floods and heavy rains as a phenomenon of climate change haven’t help the case either, yet less than one percent homes are insured in India. Similarly, there has been a multiple-fold increase in cyber crimes.

The policy can be bought with minimal disclosure for a period of one year, and renewed, thereafter. Making it a simple and easy way to be ready for any sort of emergencies.

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