Liberty General Insurance
Liberty General Insurance Company Limited is a joint venture between Industries Limited and Liberty Citystale holdings PTE Ltd, a group company of US-based Liberty Mutual Group which is an eminent global property and casualty group.
Backed with Liberty Mutuals’ 100 years of expertise and knowledge, Liberty General Insurance Company Limited works towards building a customer centric business to address varied needs of both individual and corporate clients. The company has a vast insurance portfolio, which includes both personal and corporate insurance. It offers private car insurance, two wheeler insurance and health insurance. The company also provides property, engineering, employee benefits, liability insurance and fleet insurance under its corporate segment. Headquartered in Mumbai, Liberty General Insurance Company Limited has 20 offices across 18 cities in India.
Liberty General Insurance Company Limited strongly believes that insurance plays an imperative role in meeting different needs of organisations and individuals.
Liberty General Insurance Awards & Recognitions
Liberty General Insurance has been felicitated with an industry award for its excellence in customer services, industry contribution, and technology implementation.
Liberty Insurance India has always remained customer focused. The company is dedicated to offering a better life and peace of mind to all the individuals with its personalized insurance solutions.
They take every step towards creating a responsible and secure environment and pave the path towards becoming India’s most trusted general insurance providers.
Liberty General Insurance has bagged the following awards and recognitions since its inception-
- Employer of the Choice - Word Marketing Council in 2014
- IDC Insights Awards 2016
- Most Influential Retail Leaders - CMO Asia in 2017
- Excellence in Partner Marketing at ACEF Asian Leadership Awards
- Digital Transformation Award 2016
- CEO of the Year- General Insurance Category in India Insurance Summit Awards 2018
- Future of Marketing and Summit Awards 2018
- Employer of Choice - World Marketing Council in 2014
- Model Insurer Asia - Digital and Omni Channel Award 2017
Liberty General Insurance Mission and Vision
Liberty Insurance Mission
The company aims to become the most trusted and admired insurance providers in India, by creating sustainable values, ensuring seamless customer services, convenient dealing process, and empowering all the employees.
Liberty Insurance Vision
The Company endeavors to help people live a safe and secure life. Also, to offer more than what other insurers have to offer and to become an attentive and empathetic insurer of choice for its customers.
Liberty Insurance Envisions to:
- Establish long-lasting customer relationships, ensure fair conduct and transparency in all the transactions, and supporting the buyers throughout the journey
- Establish long term relationships with the partners and helping them grow
- Ensuring employee satisfaction, through empowerment and personal growth
Liberty General Insurance Values
- Trust - Building relationships on trust with all the stakeholders
- Respect & Dignity - Treating customers/stakeholders/employees with respect and dignity
- Passion - Positive and Passionate Environment
- Agility - Quick assessment and response
- Commitment - Commitment to results and on time services
Liberty General Insurance Community Activities
Liberty Insurance India endeavors to participate in the community activities and believes it their duty to serve the society and its people with the following activities:
For the People
- Distribution of food and necessities to the needy people, orphans,
old, and specially-abled people
- Distribution of books among poor children
- Conducting road safety programs and traffic rules workshops
For the Environment
- Tree Plantation
- Cleanliness Drive
Other Miscellaneous Activities
- Blood donation camps
- Story-telling activities
Liberty General health insurance is designed for all hospitalisation and healthcare needs.
- Liberty Health Insurance Policy: The policy is designed to cover all healthcare and hospitalisation needs including pre and post-hospitalisation expenses, day-care procedures, and domiciliary treatment, among others. The plan comes in three options - Basic, Elite and Supreme. The policy is available for a period of 1 or 2 years depending upon the choice of the insured. The plan offers restoration of sum insured benefit to take care of future claims, and also offers no age-related renewal restrictions. The plan offers complimentary health check ups after two years of continuous policy renewal.
- Liberty Group Health Insurance Policy: The group health insurance policy from Liberty provides employees/members a flexible and custom health insurance plan. The plan is available on an individual or a floater basis for the family. The family comprises of the spouse, children, parents, parents-in-law, and siblings. The cover is available to any employee between the age of 18 and 65 years.
Liberty provides comprehensive coverage that covers your car against third party liability as well as all losses such as fire, theft, riots, flood etc.
- Liberty General Private Car Package Policy: The plan offers comprehensive coverage for mandatory third party liability, and for losses or damages to the car from man-made or natural causes. It offers personal accident cover for the owner-driver as well the occupants. Man-made or natural events that are covered under the policy include fire, theft, explosion, burglary, riot, strike, earthquake, flood, cyclone, accident, malicious act as well as terrorist activity.
Liberty General two wheeler insurance has exclusive features and benefits for all types of two- wheelers like bikes, scooter, mopeds etc.
- Liberty General Two Wheeler Package Policy: The comprehensive insurance plan covers against the third party disputes as well as damages to the vehicle including partial or total loss of the two wheeler. The policy covers all two wheelers including scooters, motorcycles, bikes, mopeds, auto-cycles and mechanically-assisted bicycles.
Liberty General Accident Insurance:
The accident insurance plans from Liberty General offer protection against any unforeseen accidents that may occur and result in permanent or temporary total or partial disability, or even death. The plans help the insured or their family members to pay off expenses when the bread-winner is hospitalised or incapacitated in any way from earning for the family.
- Individual Personal Accident Policy: The plan covers the insured and his/her family members against minor accidents occurring from daily activities, and from major accidents or physical loss due to death or disablement due to accident related bodily injury. The plan offers additional value-added covers such as child education benefit as well as cover for repatriation of remains and funeral expenses. Add-on covers include accidental hospitalisation expenses, daily cash for hospitalisation, child education support benefit, life support benefit, ambulance hiring charges, legal bail expenses and loan protector, among others.
- Janta Personal Accident Insurance Policy: This is a rural personal accident protection plan and covers for accidental death and other benefits. The minimum entry age is 5 years to 18 years for children while adults can enrol up to the age of 75 years. The policy is renewable for life but has to renewed every year. The policy offers worldwide coverage.
Liberty General Corporate Insurance:
The company offers various corporate solutions designed to protect businesses, corporations, engineering firms, and industrial units. It also offers plans to protect the property and also offer cover against liabilities that may arise due to carrying on of duties in the normal course of business.
- Liberty General Engineering Insurance: Meant to provide adequate cover for construction and infrastructure projects, the company provides a range of policies and packages to guard against any risk that the business may face in the course of operations.
- Erection All Risk Insurance Policy
- Commercial General Liability Policy
- Machinery Breakdown Insurance Policy
- Boiler Pressure Plant Insurance Policy
- Machinery Loss of Profit Insurance Policy
- Contractor Plant and Machinery Insurance Policy
- Contractor’s All Risk Policy
- Electronic Equipment Insurance Policy
- Liberty General Property Insurance: The policies guard against any damages to the property from fire, floods or theft.
- Fire Loss of Profit Insurance Policy
- Industrial Risk Insurance Policy
- Standard Fire Special Perils Cover
- Liberty General Employee Benefit Insurance: The policies help businesses to protect their most valuable assets - their employees. Liberty General offers employee benefit plans that help the business to take care of their workers.
- Liberty General Liabilities Insurance: The Liability Only policies help protect individuals from any legal disputes such as malpractice, negligence or even injury that may arise in the normal course of fulfilling one’s responsibilities. These policies protect professionals such as doctors, lawyers, company directors, etc. from any claim or damages required of them and events leading to which occurred while they were discharging their normal duties.
- Liberty General Miscellaneous Insurance: The range of miscellaneous policies from Liberty General help corporations and businesses to insure themselves against any liabilities that may arise and which are not covered under standard policies.
- All Risks Insurance Policy
- Signage Insurance Policy
- Baggage Insurance Policy
- Fidelity Guarantee Insurance Policy
- Burglary Insurance Policy
- Money Insurance Policy
- Plate Glass Insurance Policy
- Liberty General Fleet Insurance: The policies help businesses to protect their commercial vehicles against any damages or loss. These may include unforeseen damages incurred in the normal course of business or due to accidents. The policies cover against all types of vehicles from two and three wheelers to cars and buses used for business - whether for carrying customers or goods
- Liberty General Marine Insurance: The marine insurance policies help protect against any loss or damage to the cargo when it is in transit by air, road, rail, sea or courier.
Do not forget to compare all the Liberty General insurance plans with plans from other general insurance companies in India, which will help you to make a better choice.
Premium Payment Process of Liberty General Insurance
The insurance company follows both online and offline payment procedure. The steps that follow are listed below:
- Liberty Insurance Online Payment Process - To make it the most convenient and hassle-free procedure for its customers, the insurance company ensures a smooth online payment process. You can make the required payment online through net banking, credit or debit cards. Just keep the policy documents and policy number handy, in case any information is required.
- Liberty Insurance Offline Payment Process - Those who are not comfortable with the online payment procedure can pay it offline. For offline payments, the policyholder can visit the nearest Liberty General Insurance branch and follow the procedure.
Liberty General Insurance Renewal Procedure
Just like the payment procedure, even the policy renewal procedure is made simple and convenient. Here how it is done:
- Liberty Insurance Online Renewal Process - The insurance company ensures that the insured members do not have to go through any hassles while renewing their policies from them. Their online platform makes it possible to renew your current insurance policy online an also make the payment using digital methods.
- Renew Insurance Plans From Other Insurers - The customers can also renew their existing policies from other insurers with liberty insurance. And all the policy benefits shall remain the same.
Liberty General Insurance - FAQs
Ans: The customer can issue an endorsement at the time of policy purchase, during the policy term and at the time of renewal. It is used to update any additional information and additional benefits that the insured might need to add in the policy. For instance, deductibles, legal liability to the paid driver, etc. Consequently, any changes in the policy documents such as name, address, vehicle information can be implemented through the endorsement.
Ans: Yes, NCB is transferrable. If you are switching to Liberty Insurance or switching from Liberty to another insurance company then you can get your accrued NCB transferred. This is usually applicable when the vehicle is renewed within a specific time frame from the expiry date. The rate of NCB will remain the same at the time of transfer.
Usually, the car insurance premium is decided on the basis of the following parameters:
- Age of the vehicle
- Model Type
- The cubic capacity of the engine
- Geographical zone
- Insured Declared Value
Ans: Legal liability cover for a paid driver proves to be beneficial in case the paid driver meets with an accident while driving the insured vehicle. If he is also insured then the insurance company will also recompense for the loss.
Liberty Insurance offers a variety of general insurance products to meet the different needs of its customers. The products can be summarized as follows:
- Liberty General Two-wheeler Insurance Plans
- Liberty General Car Insurance Plans
- Liberty General Personal Accident Insurance Plans
- Liberty General Health Insurance Plans
- Liberty General Commercial Insurance Plans
Ans: You can buy Liberty car or two-wheeler insurance policy even if you have missed the expiry date. Since there has been a break, the insurer will get your vehicle physically inspected by an authorized person. The No Claim Bonus will remain as per the prevailing rules and policies.
Ans: Liberty health insurance plans make cashless facilities available only at the registered hospitals. You can check the complete of network hospitals online on their website.
Liberty General Insurance - Latest News
LVGI Company, a JV between the India based Videocon Industries and Liberty City State Holdings (a part of US-based multinational company, Liberty Mutual Insurance Group), declared its intent to establish multiple offices across the pan India locations. LV General Insurance Company started operating in the nation in the calendar year 2013, with existence in a few cities in the country.
It has announced its plan to open many more offices in various cities in India. Giving views on the this development, the country head for the retail business department of the Liberty General Insurance Company, Pankaj Arora, stated that the insurance provider has made vigorous growth since its operational launch in the year 2013.
The company is now planning to take this growth to another level, by extending its presence to a number of other locations. He also stated that the company is planning to open up about 40 more office in the tier 2 and tier 3 cities in India within the upcoming four months. The step, as per him, is expected to take the company’s presence to nearly 80 places across the Tier one, two, and three cities of the country.
LVGI or Liberty General Insurance Company will bring in a mobile-based product to simplify claims-settlement and purchase of home insurance products, stated a top official from the company. The general insurance provider that started up its venture in 2013 might use mobile phone technology in order to support in achieving this objective, stated the Director and CEO of LVGI, Roopam Asthana. Asthana, though did not elaborate much about the product, however, he did give a confirmation about the products release in the market within the calendar year 2016.
The company is planning to approach the Insurance Regulatory and Development Authority of India to get an approval for the launch. Asthana also revealed that the company is doing this with intent to be recognized as a special company that aims at customer satisfaction and making insurance processes simpler for them. They planning to attain the market leadership by focusing on improvement in the customer experience. Roopam also told that to work on the project, the insurer’s Indian digital team is going collaborate with its foreign associate’s, i.e. Liberty Mutual Insurance’s Innovation Lab based in the US.
The joint venture company of Liberty City-state Holdings, (a division of Liberty Mutual Insurance based in US) and Videocon Industries Limited of India, Liberty General Insurance Company, announced Liberty Health Connect to launch on an online platform.
Liberty Health Connect is a health insurance product offered by Liberty General Insurance Company.
After getting a positive response for Liberty Health Connect Plan from all over India since its launch in December 2014, the company has now brought the product online. This has been done to make the product available to the customers at affordable prices. Liberty General Insurance has adopted this technological or online route, to make the process of buying this product as easy as making a click. This step would make sure that the customers can buy the product with ease and enhance the technological front of the company.
Written By: PolicyBazaar - Updated: 08 July 2020