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Sanjib

Sanjib Jha  |66 Answers  |Ask -

Insurance Expert - Answered on Feb 02, 2023

Sanjib Jha is the CEO of Coverfox Insurance. His expertise includes health and auto insurance. He has over 22 years of experience in the financial sector. He has completed his post-graduation from the Institute of Company Secretaries of India.... more
Prasanna Question by Prasanna on Jan 18, 2023Hindi
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Dear Sanjib, why do motor insurance companies insist on buying three and five year cover instead of one year? How do consumers benefit from ling-term vehicle insurance? If one buys 5-year cover and files for claim in the 2nd year then how is claim settled and after that does cover remain valid for the next three years? Regards

Ans: Hi Prasanna, Long Term insurance is only mandated for new vehicle as per IRDAI.
In Long Term policy (3+3), a standard agreement is signed due to which the policy's premium will remain unchanged whether you claim in the policy or not.
However in single year motor policy, you will lose your NCB (no claim bonus) after claim which will increase the premium at the time of renewal.
If a person claims in a five year tenure policy, the process of claim will be standard. Post claim, the coverages & premium will remain unchanged.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Sir, my question is regarding auto insurance. What is the difference between comprehensive cover and non comprehensive cover in auto insurance? Which insurance should I buy? Which insurance will take better care of my vehicle insurance needs?
Ans: To help you understand the difference between comprehensive and non-comprehensive (commonly known as third-party) auto insurance, and guide you which auto insurance might be more suitable for your needs, here are some points to consider.

Comprehensive Cover:

• Coverage: Comprehensive insurance provides coverage for a wide range of incidents, including damage to your own vehicle due to accidents, theft, natural disasters (like floods or earthquakes), fire, vandalism, and other non-collision events.

• Third-party Coverage: In addition to covering damages to your own vehicle, comprehensive insurance also includes third-party liability coverage. This means it provides protection against any damage or injury caused to third parties (other people or their property) by your vehicle.

Non-Comprehensive (Third-Party) Cover:

• Coverage: This type of insurance primarily covers damages and injuries caused by your vehicle to third parties. It does not cover damages to your own vehicle in the event of an accident or other non-collision incidents.

• Legal Requirement: In many places, having at least third-party insurance is a legal requirement. It ensures that if you cause harm to others or their property, there is coverage to compensate for those damages.

Choosing the Right Insurance:

• Comprehensive Cover: If you want more extensive protection for your own vehicle and want coverage for a broader range of events, comprehensive insurance is the better choice. It provides peace of mind knowing that you are covered not only for accidents but also for theft, natural disasters, and other unforeseen circumstances.

• Non-Comprehensive (Third-Party) Cover: If you are looking for a more budget-friendly option and are willing to bear the cost of repairing or replacing your own vehicle in case of an accident, third-party insurance might be suitable. However, it's important to note that this option doesn't provide coverage for damages to your own vehicle.

Ultimately, the choice between comprehensive and non-comprehensive insurance depends on your individual needs, budget, and the level of coverage you desire. If you can afford it, comprehensive coverage is generally recommended for more comprehensive protection. Always review the policy terms, conditions, and coverage limits before making a decision. Additionally, consider consulting with insurance professionals or agents to get personalised advice based on your specific situation.

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MY SON JUST PASSED OUT CLASS X WITH JUST 76 %. HE IS INTERESTED IN CONTINUING SCIENCE AND MATH UPTO POST-GRADUATION. IS HE RIGHT?
Ans: Avijit Sir, To provide more specific guidance, it would be helpful to know how many marks your son scored in Mathematics and Science specifically, and what exactly has motivated his interest in pursuing these subjects up to graduation. Also, what are his long-term goals? Suggestion: Please arrange a Psychometric Test for him. It will offer a clearer picture of his aptitude, interests, and personality, helping to identify which career paths might align best with his strengths. Academic Preparedness:
Please note that Class XI Science—especially Physics and Mathematics—is highly conceptual and more rigorous than Class X. If he faced difficulties in these subjects earlier, it’s important to bridge that gap now through: A foundation course or Summer preparation by joining any Coaching Cenre Offline or online. Coaching can be helpful, but only if the motivation comes from within. Without genuine interest, coaching may lead to burnout. If he is aiming for competitive exams like JEE (IIT, NIT), NEET, or wants to explore pure sciences at institutes like IISc or IISER, it’s vital to develop a structured study routine early on. Maintain Career Flexibility. Even if he continues with Science and Math now, he can later explore interdisciplinary fields such as: Data Science | Finance | Architecture | Design Or even emerging tech fields Choosing Science now doesn’t limit him—it actually keeps more doors open for the future. All the Best for Your Son's Prosperous Future.

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I get 81.2 percentile in jee main session 1 can I get any nit?
Ans: Priyanshi, Here is, How to Predict Your Chances of Admission into NIT or IIIT or GFTI After JEE Main Results – A Step-by-Step Guide.

Providing precise admission chances for each student can be challenging. Some reputed educational websites offer ‘College Predictor’ tools where you can check possible college options based on your percentile, category, and preferences. However, for a more accurate understanding, here’s a simple yet effective 9-step method using JoSAA’s past-year opening and closing ranks. This approach gives you a fair estimate (though not 100% exact) of your admission chances based on the previous year’s data.

Step-by-Step Guide to Check Your Admission Chances Using JoSAA Data
Step 1: Collect Your Key Details
Before starting, note down the following details:

Your JEE Main percentile | Convert the Percentile to AIR, based on the Formula available in Google.
Your category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
Preferred institute types (NIT, IIIT, GFTI)
Preferred locations (or if you're open to any location in India)
List of at least 3 preferred academic programs (branches) as backups (instead of relying on just one option)
Step 2: Access JoSAA’s Official Opening & Closing Ranks
Go to Google and type: JoSAA Opening & Closing Ranks 2024
Click on the first search result (official JoSAA website).
You will land directly on JoSAA’s portal, where you can enter your details to check past-year cutoffs.
Step 3: Select the Round Number
JoSAA conducts five rounds of counseling.
For a safer estimate, choose Round 4, as most admissions are settled by this round.
Step 4: Choose the Institute Type
Select NIT, IIIT, or GFTI, depending on your preference.
If you are open to all types of institutes, check them one by one instead of selecting all at once.
Step 5: Select the Institute Name (Based on Location)
It is recommended to check institutes one by one, based on your preferred locations.
Avoid selecting ‘ALL’ at once, as it may create confusion.
Step 6: Select Your Preferred Academic Program (Branch)
Enter the branches you are interested in, one at a time, in your preferred order.
Step 7: Submit and Analyze Results
After selecting the relevant details, click the ‘SUBMIT’ button.
The system will display Opening & Closing Ranks of the selected institute and branch for different categories.
Step 8: Note Down the Opening & Closing Ranks
Maintain a notebook or diary to record the Opening & Closing Ranks for each institute and branch you are interested in.
This will serve as a quick reference during JoSAA counseling.
Step 9: Adjust Your Expectations on a Safer Side
Since Opening & Closing Ranks fluctuate slightly each year, always adjust the numbers for safety.
Example Calculation:
If the Opening & Closing Ranks for NIT Delhi | Mechanical Engineering | OPEN Category show 8622 & 26186 (for Home State), consider adjusting them to 8300 & 23000 (on a safer side).
If the Female Category rank is 34334 & 36212, adjust it to 31000 & 33000.
Follow this approach for Other State candidates and different categories.
Pro Tip: Adjust your expected rank slightly lower than the previous year's cutoffs for realistic expectations during JoSAA counseling.

Can This Method Be Used for JEE April & JEE Advanced?
Yes! You can repeat the same steps after your April JEE Main results to refine your admission possibilities.
You can also follow a similar process for JEE Advanced cutoffs when applying for IITs.

Want to Learn More About JoSAA Counseling?
If you want detailed insights on JoSAA counseling, engineering entrance exams, preparation strategies, and engineering career options, check out EduJob360’s 180+ YouTube videos on this topic!

Hope this guide helps! All the best for your admissions!

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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