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Saturday, November 17, 2018

COCODrive by DHFL GI offers Comprehensive CAR insurance, tailor-made for individual needs

Offers a-la-carte #Comprehensive Car Insurance with 19 add-on covers to choose from 

Vehicle insurance is the only insurance in India which is mandatory. Whether you understand it or not, by default your Car dealer will push you to an insurance agent for buying a car insurance policy, the moment you buy a car. It is almost an automated process of signing the dotted lines without understanding the need, requirement and viability of that product and services. The mandatory third-party insurance doesn’t cover many facets, hence a comprehensive Car Insurance is recommended for the unique need an individual may have.

Though insurance companies provide #Comprehensive Car insurance, it may or may not cover the requirement which suits your need.

 In its bid to provide car owners with best possible solution, COCO by DHFL General Insurance identified the unique needs of the customers and recently launched their comprehensive four wheeler insurance called COCODrive, using Artificial Intelligence, machine learning and various other underlying technologies. With an hyper-customisation approach, they have come up with a slew of 19 add –on covers depending on the set of unique requirements an indvidual may have, depending on the vehicle model, the usage, location and individual priorities. Unlike other insurers, COCODrive doesn’t offer 6/7 add-ons bundled in an ad-hoc manner inorder to complete the buying process reduced into a a few minutes affair and neither does COCO encourage third party dealer led sales that leave customers confused.

With an A-la-carte approach, COCO by DHFL GI encourages customers, vehicle owners to buy this online Car Insurance taking some time understanding the product and how one can take maximum benefit out of it. The personalized car insurance product  encourages car owners to understand each add-on  one can choose from under this  comprehensive car policy and also the common exclusions under vehicle insurance which helps customers get the best deal for the best cover. The aim of the insurer here is to simplify the insurance process and making it an engaging and customer friendly experience, along with reducing the chance of issues  when it comes to claim settlement.
To make the process easy  and hassle-free, the claim settlement process has been made simpler. A customer can click a few pictures of the damaged car and initiate the claim –settlement process himself/herself.   

Listing down the  19 add-on features one can choose from. The choice can be made  as per your requirement. These are too informative to not mention here in this post.
This CAR Insurance is definitely a life-saver as the add-ons include - Zero Depreciation insurance (recommended for new cars upto 5 years), Key & Lock Replacement (recommended for expensive cars), New Car for Old Car, Tyre Replacement Cover, Consumable Expenses as well as Engine Protect option (recommended for flood prone area).

The insurer knows that its not only the car, because an accident costs much more than that for an individual/ familyr. COCODrive has introduced EMI Protector, Outstanding loan protector, Accident Hospitalisation costs, Enhanced Owner Personal Accident, Enhanced Paid Driver Personal Accident Enhanced occupants cover, Hospi cash,  Personal Belonging Protector etc. The damage a family may suffer due to an accident may be very painful, but the insurer is aiming to provide a 360 degree coverage to protect the customer from an unforeseen tragedy.

COCODrive also provides other additional, non-standard add-on covers which may be equally important for some – The personal beloning cover, Road side assistance, daily conveyance, emergency travel and hotel stay, NCB Protector for non-metalic repairs and NCB protector cover etc.
Finally, I came across as a product which would have answer for every query and a solution for every worry a car owner may have. A thumbs to COCODrive by DHFL by MyMoneyStreets
You can visit their website at: 

Saturday, November 3, 2018

6 Ideas for your Diwali Bonus - Diwali Wishes

MyMoneyStreets team wishes you a Very Happy Diwali and Prosperous New Year (Samvat 2075)

Have you checked the car insurance papers?
Diwali is just 2 days away, one of the biggest festivities of India, and You might be in a Diwali shopping spree. This is a time to brighten up  homes, lighten up streets, wear bright clothes, distribute sweets, visiting relatives, burning firecrackers and buy new things. 

India INC celebrates this occasion, distribute sweets, gifts and most often distribute annual employee bonuses around this time. The little lamps are lit in every office, houses, the desks are decorated with Maa Laxmi Idols to celebrate the festival of lights . As we worship Laxmi Maa on Diwali, the Goddess of Wealth and prosperity, this occasion celebrates wealth too. It is an apt occasion for some good beginnings on money learning too. To make it crisp and put it to context, I have made a list of five things which you can use to put your Diwali Bonus to good use. 

Diwali Bonus, generally a variable income for many, organisations generously share their profits with emploees,  lucky ones fetch more than a year's salary some time, some get a month's salary, few gets a token money. However, receiving money on Diwali is 'Shagun', a token of good luck. Depending on the amount you recieve as Diwali Bonus, here are a few things you can consider looking at. 

1. Pay-off loans - Many of us literally live on EMIs - Car loans, home loans, credit cards etc. Though these are ultra-convenient tools, it comes with a cost "interest". Its prudent to pay off some of your loans with the bonus money, to reduce the load on your monthly budget. If you have multiple loans, consider paying off the credit card as it is the costliest loan, followed by personal loan, followed by Car Loans and the Home loans and i that order. For rest of your year, you will feel lighter on your budget.
2. Put in Tax saving instrument - Seldom people start planning tax saving beginning of the year. Monthly budget many a times doesn't leave us with much money for tax saving saving instrument, consider paying insurance premiums/ PPF/ ELSS etc with the money. Your target for tax saving will be taken care of.

3. Annual purchase of furniture/ Television/ Electronic gadgets - Year long people wait for Diwali Bonus especially to do a Diwali Shopping - buy gifts, home furnishings, decor, electronics etc, if you hate paying EMIs, Diwali bonus can be used for these annual purchase of the Consumer durables/ furnitures you long for. The festivities also brings lot of discount deals from Retailers and E-tailers.

4. Buying Gold certificates/ Jewellery - Diwali is considered as auspicious time to buy Gold. If you like Gold Jewelery, Silver Coins etc. Do consider using bonus for buying this asset. If you are not into Diwali shopping, you can still consider buying Gold ETF, Sovereign Gold Bonds (Offer 2.5% interest - payable half-yearly) which has a 8 year maturity period since launch. You may consider buying from secondary market - trading platform, as the SGB is not offering new bonds now.
5. Gift for family and friends - Diwali is a festival of connecting with people. As a custom people visit each other with gifts like Sweets, clothes etc, depending on the relationship you share. Do consider buying gifts for loved ones, the smile on seeing the gifts on their face is priceless!! isn't it??

6. Joy of Giving - Last but not the least, there is nothing more joyful than joy of giving. There is a big part of society who are not as privileged as we are. There are Kids, Old people, Undernourished underprivileged lot. Do consider donating to them, buying them a few clothes or even donating your old ones will make a lot of difference to their lives. 

Wish you a very Happy Diwali.

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