General insurance policy is the basic policy that can be issued to all policyholders, after their successful completion of the qualifying exam. After the successful completion of the exam all the insurants receive a copy of the document of same names by which they are to provide the insurance company with all the information about the individual. The insurer company issues a policy called insurance that has the name of the holder with a blank premium and face amount. This kind of insuring process is completely free of cost for both the individuals and the companies. There are certain rules that are to be followed by the policyholder and the company and by reading the document very carefully one can be sure of their eligibility.
If there is any doubt on the payment of premiums of the general insuranes, then the holders have to give the reasons for their delay in payments. If the reasons are genuine and justified, then the policy holder will get the full rebate on their premium amount. General insuranes are the only ones that are issued to the family or friends of the policy holders in the name of the policy holder. Insuring policies like this are completely different from the other insuring policies.
Policyholders do not make payments directly to the insurer. The payment of premiums is done to the general contractor who pays the premium on behalf of the policyholders and also pays the expenses of maintaining the vehicle. Insured individuals are required to give a detailed statement of their personal financial state in the form of monthly or annual returns to the general contractor, who in turn will send the payments to the insurer. However, the individuals can negotiate on the price of insuring as there is no ceiling on the price. The insurance companies do not directly deal with the general contractor, but they provide them with the estimates of the total cost of maintaining the vehicle and also provide them with the quotes of different kinds of insuring policies available in the market.