Much more accidents occur due to traffic due to traffic.Also while playing and doing any other extra curricular activities the chances of happening these things also increases more.The type might be different,may be a major one or a minor one,but it's an accident always and it's always bad.So our try here is to give some relief to those facing these bad things.The simple things here is that by enrolling into this project you are only sharing your risk with us and nothing else.This is only a risk sharing mechanism.

What actually is Insurance?
Insurance does not have any fixed definition.It can be defined in different ways as:

a.Insurance,in law and economics,is a form of risk management primarily used to hedge against the risk of a contingent loss.Insurance is defined as the equitable transfer of the risk of a potential loss,from one entity to another,in exchange for primium.

b.Insurance is a system to protect persons against the risks of financial loss by transferring the risks to a larger group who share the financial losses.

c .Plans in which individuals and organization who are concerned about potential risks will pay premium to an insurance company,who in return,will reimburse them if there is loss.To generate a profit,the insurer will invest the premiums it receives.

d.We can define Insurance also as a side agreement when someone is all-in for a player in a pot to put up money that guarantees a payoff of a set,amount in case the opponent wins the pot.

e.A contract in which one party agress to compensate another party for any losses or damages caused by risks identified in the contract in exchange for the payment of a lump sum or periodic amounts of money to the first party.

f.A contract that provides compensation for specific losses in exchange for a periodic payment.An individual contract is known as an insurance policy,and the periodic payment is known as an insurance premium.

What is Insurance Policy?
An insurance policy is a legally binding contract between an insurance company and the person who buys the policy,commonly called the "Policyholder,who also is often the person insured."

In exchange for payment of a specified sum of money,called the "premium",the insurance company agrees to pay for certain types of loss or damage as specified by the contract.When a loss occurs which meets all of the requirements described by the terms of an insurance policy,the loss is said to be "covered" by that policy.

What is an Insurance Premium?
An insurance premium is the actual amout of money charged by insurance companies for active coverage.An insurance primium for the same service can vary widely among insurance providers,which is why experts strongly recommend getting several quotes before committing to an insurance policy.Insurance Agent or brokers will take your basic information and calculate an insurance premium estimate based on your answes and other factors.The lowest quoted price on an insurance primium may be the better bargain.

The cost of an insurance premium is largely based on statistics,not necessarily on individual habits or history.A 22 year old year male seeking car insurance for a sports car can often anticipate a higher insurance premium than a 45 year old woman driving a mid-size sedan.Both may have excellent driving records,but the insurance company considers a younger driver in a faster car to be more at risk for accidents.Therefore, the insurance premium quotes will be noticeably different.In general, a more expensive or faster car will cost more to insure,simply because owners of those vehicles TEND to drive faster.