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Frequently Asked Questions

BimaKavach Insurance Broking Pvt. Ltd.

Last Updated: 2024-09-01 viz. September 01, 2024

We help you understand every aspect of Business Insurance.

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BimaKavach offers a wide range of insurances that allow you to completely protect your business. We have a host of policies under Liability Insurance, Property & Casualty Insurance and Insurance for Employee Benefits.

Broker service is offline, and involves consulations & risk assessments to understand your needs. Online service is more digital, and has self-service options for purchasing policies. Both allow you to safeguard your business.

No, there are no hidden fees while purchasing your commercial insurance from BimaKavach.

No, BimaKavach does not directly offer the quotes. BimaKavach is an IRDAI registered Insurance broker. BimaKavach works with India’s top insurance companies to provide the quotes directly from the insurers and creates and customises your insurance accordingly.

For every quote request you raise BimaKavach provides you with quotes from multiple insurers. You can compare and pick the right insurance policy for your business.

Yes, you can customise your insurance to match the unique needs of your business. This type of customisation allows you to save money without effecting the safety of your business.

No, there is no minimum premium amount for business insurance policies. However, your premiums do vary according to the insurance you wish to purchase.

BimaKavach does not require any documents to generate a quote for your insurance. All you need to do is share some basic information so we understand the nature of your business

Buying multiple policies can be beneficial as insurers tend to reward you with revised premiums or added benefits with your policy.

Yes, you can and it's easy! A dedicated Bima Expert can assist you in switching your policy to BimaKavach.

Protecting your business's assets, legal liabilities, and employees from potential risks is crucial. Business insurance offers coverage against unforeseen events like legal issues, accidents, and natural disasters. Ensuring your business is safeguarded against these risks and financial losses is essential.

All the Business insurance policies premiums are treated as business expenses. Under the current GST law in India, businesses cannot claim Input Tax Credit (ITC) on GST paid for employees group health insurance. However, ITC can be claimed for GST paid on other types of business insurance policies.

Buying insurance online is usually safe but it is important to adhere to the following best practices:

  • Always purchase from IRDAl-registered insurance brokers like BimaKavach
  • Make sure that your broker has the right expertise and claims support available. A lot of claims are rejected because of mistakes that happen during the purchase process.
  • Always ensure that the online platform has secure payment gateways and maintains strict data privacy standards.

In India, business insurance is not universally mandated by law for all types of businesses. However, there are specific types of insurance that are legally required depending on the nature of the business and the industry it operates in.

We help you understand every aspect of Business Insurance.