IRDAI Licensed Insurance Broker in India | PolicyYatra
PolicyYatra (Kamakhya Insurance Broker Pvt. Ltd.) is an IRDAI-licensed direct general insurance broker based in Pune, Maharashtra, helping individuals and businesses across India compare and explore health, motor, home, travel, industrial, commercial property, marine and liability insurance plans. As a direct broker we represent the customer — not any individual insurer — and compare options from multiple insurers to provide independent, transparent advice.
Health Insurance
Health insurance in India covers hospitalisation expenses including room rent, surgery, ICU, nursing, and day-care procedures. Plans are available for individuals, families (floater plans), and senior citizens. Key features to compare include sum insured, network hospitals, waiting periods for pre-existing conditions, no-claim bonus, and restoration benefit. Family floater plans pool the sum insured across all members; individual plans assign a separate sum insured per person.
Motor Insurance
Motor insurance is mandatory in India under the Motor Vehicles Act for all registered vehicles. Third-party liability insurance (covering damage caused to others) is legally compulsory. Own-damage (OD) cover, which protects the insured vehicle, is optional but strongly advisable. A comprehensive motor policy combines both. Key factors include IDV (Insured Declared Value), No Claim Bonus (NCB), and add-ons such as zero depreciation, roadside assistance, and engine protection.
Home Insurance
Home insurance in India covers the residential structure against fire, flood, earthquake, cyclone, and allied perils. Contents insurance covers household items — furniture, electronics, jewellery, appliances — against theft, fire, and damage. Home insurance is not mandatory in India but is strongly advisable for owned property. Tenants can buy contents-only insurance to protect their belongings without owning the building.
Travel Insurance
Travel insurance covers medical emergencies, trip cancellation, baggage loss, passport loss, personal liability, and travel delays. International travel insurance is essential as Indian health insurance policies do not provide coverage outside India. Schengen visa requirements mandate minimum EUR 30,000 medical cover. Student travel insurance for studying abroad includes study interruption and sponsor protection benefits.
Industrial Insurance
Industrial insurance covers factories, manufacturing plants, and warehouses against fire and allied perils, machinery breakdown, boiler explosion, and business interruption. Large industrial risks require specialist placement and may involve co-insurance across multiple insurers. Employer's liability and public liability cover are typically included or added as extensions.
Commercial Property Insurance
Commercial property insurance protects business premises and their contents. Shopkeeper's insurance is a packaged policy covering a retail shop's premises, stock, cash, and public liability. Office insurance covers office premises, electronic equipment, and business interruption. These policies combine property, liability, and business interruption in one package.
Business Insurance
Business insurance for SMEs and corporates combines multiple covers — property, liability, business interruption, and employee-related risks — into a structured programme. PolicyYatra advises on appropriate coverage structures for businesses of all sizes.
Marine Insurance
Marine insurance covers goods in transit by sea, air, road, or rail against physical loss or damage. It protects exporters, importers, traders, and logistics companies against cargo risks. Marine hull insurance covers the vessel itself. An open marine policy covers all shipments during a policy period rather than insuring each consignment individually.
Liability Insurance
Liability insurance protects against claims by third parties for bodily injury or property damage. Types include public liability (customers, visitors), employer's liability (workers), professional indemnity / errors and omissions (professional service mistakes), product liability (defective goods), and directors and officers (D&O) liability for management decisions.
Key Insurance Concepts
- Sum Insured
- The maximum amount an insurer pays for a covered claim. Insuring below replacement value (underinsurance) means the insured bears a proportionate share of every claim.
- Premium
- The periodic payment (monthly, quarterly, or annual) for insurance cover. Premium is calculated based on sum insured, risk profile, age, and selected features.
- Deductible (Excess)
- The amount the insured pays toward a claim before the insurer pays. Compulsory deductibles are set by the insurer; voluntary deductibles are chosen by the insured in exchange for a lower premium.
- Waiting Period
- In health insurance, a period after policy start during which certain conditions are not covered. Standard waiting periods: 30 days for illness (not accidents), 24–48 months for pre-existing conditions.
- No Claim Bonus (NCB)
- A discount on motor insurance renewal premium for each claim-free year, accumulating up to 50% over five years. NCB is transferable between insurers.
- Claim Settlement Ratio (CSR)
- The percentage of claims settled by an insurer in a year. IRDAI publishes CSR data annually. A higher CSR indicates more reliable claim settlement.
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IRDAI Licensed Direct General Insurance Broker · Kamakhya Insurance Broker Pvt. Ltd. · Pune, Maharashtra, India