Frequently Asked Questions

CoverBima provides insurance assistance and consultation for individuals, families and businesses — requirement discussions, existing policy reviews, renewal guidance and claim consultation, plus an assistant that answers common insurance questions.

No. CoverBima is not an insurer. Insurance products are issued by the respective insurance companies. CoverBima assists with understanding, review and process.

For individual and family queries — motor, health or life — the initial consultation is free. For commercial requirements, the scope can be larger and any engagement terms will be confirmed in writing before proceeding.

No. There is no obligation to purchase anything. A consultation is a discussion, and you leave with information you can act on however you choose.

A consultant reviews the details and contacts you during office hours on the number or channel you prefer. Nothing is shared with third parties for marketing.

It satisfies the statutory requirement, but it does not pay for damage to your own vehicle. Comprehensive cover adds own-damage protection, subject to deductibles and the IDV.

Renew as soon as possible. Insurers commonly require an inspection before accepting own-damage cover after a break, and the No Claim Bonus is generally affected.

A claim usually reduces or removes the No Claim Bonus, which is a discount on the own-damage premium — so the effect appears at renewal rather than as a penalty.

Yes, with the proper proof such as an NCB retention letter issued by your previous insurer.

Consider a sum insured that covers a single major hospitalisation in your city without exhausting savings. Many families look at Rs 5-10 lakh or more, depending on age, city and medical history.

A period from the start of the policy during which certain conditions are not payable — an initial period for most hospitalisation, and longer periods for specified diseases and pre-existing conditions.

Non-disclosure can result in a claim being declined. Declare all conditions, however minor, at proposal stage. If you are already insured elsewhere, portability can carry forward waiting-period credit.

Cashless treatment is available at network hospitals of the insurer or TPA. Elsewhere you can claim reimbursement by submitting the documents after discharge.

A common starting range is 10 to 15 times annual income, adjusted for loans, future goals and existing assets or cover.

Term plans give the largest protection for the premium but no maturity value (unless a return-of-premium variant is chosen). Savings and ULIP plans combine protection with savings or investment at a higher premium.

The nominee receives the benefit under the policy. An outdated nomination can create avoidable difficulty for your family at the worst possible time.

Most property policies apply a proportionate deduction when the sum insured is below the actual value at the time of loss, so the claim is paid only in part.

Yes. Group health and benefit covers are common, usually with a common sum insured and options to extend to family members. Cover generally ends when an employee leaves.

At every renewal, and immediately after any expansion, new location, hired machinery or significant change in stock.

No. Claim assessment, admissibility, approval and settlement rest with the applicable insurer as per the policy terms. CoverBima helps you understand procedure, documentation and next steps, and does not guarantee approval or settlement.

Ask for the reason in writing with the policy clause relied upon, compare it with your policy wording, and respond with the documents that address the query. Keep a dated record of all communication.

It varies by claim type and document completeness. Motor cashless approvals can come in days; health reimbursement commonly takes a few weeks; property claims depend on the surveyor’s assessment.

Registration lets the team know who is asking, so a consultant can follow up if the assistant cannot answer fully. It is a one-time step, and no OTP or payment is involved.

They are used only to answer your query and to contact you about it. They are not sold or published. See the Privacy Policy.

No. This website is for information and consultation only, and there is no payment flow.

Yes. Open the chat and use the “Clear my details” link on the registration screen, or write to contact@coverbima.com and the team will remove them.