Edelweiss General Insurance Reviews, Ratings, Best Plans and USPs

Edelweiss General Insurance

Edelweiss General Insurance Company Limited is an Indian private company that comes under “company limited by shares”. Edelweiss group was founded in November 1995 by Rashesh Shah and Venkat Ramaswamy. The group caters to cities across India with headquarters in Mumbai, Maharashtra

Edelweiss General insurance was developed with a vision to stand apart in customer service while meticulously abiding by the laws and regulations. While maintaining the legacy of trust that has been the foundation of the company for the last two decades, the company dares to think out of the box to meet the requirements and expectations of the customers.

Edelweiss General Insurance has had an impact on millions of customers with its game-changing insurance services which also led the company to bag the SAP Innovation Award in 2018. Edelweiss General has registered an increasing Claim Settlement Ratio of 84.52% and issued over 1 crore+ policies in the fiscal year 2019.

The company is dedicated to making the process of insurance simpler and customer-friendly by setting up accessible customer support that helps investors with practically anything related to general insurance.

    Prepare today for a relaxed and secure future.

    Check out the best health insurance plans here:

    Policy Type

    IndividualFloater

    Affordable Premium

    Edelweiss General insurance offers the best health insurance policies at affordable premiums.

    1500+ Cashless Garages

    The number of cashless car garages associated with Edelweiss is over 1500, making it easier for insurers to claim motor insurance regardless of where they live.

    Maximum Coverage

    Health cover guarantees maximum protection to the insurer by covering expenditures related to daycare procedures, maternity, critical illness, and other serious medical conditions. 

    24×7 Emergency Assistance

    Edelweiss customer care is available around the clock to solve queries faced by customers. 

    Flexible policy

    The company permits policyholders to make a mid-term entry for a wedding or childbirth.

    Complimentary health check-up

    The health insurance plans offered by Edelweiss general insurance provide a complementary health check-up in all years where the claims are not made.

    Cashless claims

    Buyers are allowed cashless treatments for emergency medical conditions. The facility can be availed at over a thousand hospitals that have a network with the company.

    High claim settlement ratio

    The claim settlement ratio of Edelweiss general insurance between 2019-2020 was 85.57%. This is indicative of the exceptional ability of the company to settle claims. 

    Supplementary coverage

    The health insurance plans provided by the company are supplemented with other benefits like coverage of pre-and post-hospitalization expenses, in-patient treatment, critical illness treatment, ICU expense, ambulance charges, etc.

    Incurred claim ratio

    The amount paid against the overall premium collected, known as the Incurred Claim Ratio is impressive for Edelweiss. The ICR of Edelweiss during 2018-2019 was 115%.  

    Tax exemption

    The premium paid by the investors for health insurance policies is entitled to tax exemption under the Income Tax Act 1961. 

    General insurance can be broadly defined as any type of insurance that is not meant to be life insurance. General insurance includes employers' compensation (workers' liability), public & product liabilities, commercial fleet, and other products for commercial organizations. They also cover financial losses that might be incurred by individuals owing to fire, motor accidents, and other factors. General insurance is all about sharing risk without offering a life cover. 

    Edelweiss General Insurance offers five types of insurance policies:

    1. Edelweiss General Two-Wheeler Insurance
    2. Edelweiss General Motor Insurance
    3. Edelweiss General Health Insurance 
    4. Edelweiss General COVID Healthcare
    5. Edelweiss General Saral Suraksha Bima

    Two-Wheeler insurance

    Edelweiss has two insurance policies for individuals who own two-wheelers:

     

    1. Edelweiss Two-Wheeler Liability Only insurance Policy
    2. Edelweiss Two-Wheeler Package Insurance Policy

    Edelweiss Two-Wheeler Liability Only insurance Policy

    Edelweiss has an only-liability insurance to hers which offers all the basic coverage required for two-wheeler protection. The policy covers only the liabilities (damage) caused to either other people or their properties. 

     

    The third-party-only policy does not cover expenses incurred due to any injury to the insured two-wheeler, damages to the insurer's two-wheeler, or decline in the value of the two-wheeler and its parts.

    Edelweiss Two-Wheeler Package Insurance Policy

    This policy covers the third party as well as the owner's damage. The investor can also opt to increase the coverage area and add a cover for the person riding the pillion. 

     

    The policy does not provide coverage for the decline in value of the two-wheeler or its parts due to aging. 

     

    Type of Policy

    What is covered?

    What is not covered?

    Edelweiss Third party liability only two-wheeler insurance policy 

    Damages incurred by the third party themselves or to their property.

    Damages caused because of injury or death of the third party. 

    Damages incurred by the insured two-wheeler. 


    Expenses incurred due to injury or death of the insurer.

    Edelweiss two-wheeler package insurance

    Damages to the insurer’s two-wheeler and insurer themselves.

    Damages to the third party and their properties.

    Injury or death of a third party.

    Accident coverage for the insurer and the chosen pillion rider.

    Disasters that are both man-made and natural.

    If the two-wheeler is stolen or completely damaged.

    If the value of the two-wheeler declines due to aging and wear & tear. 

    If the two-wheeler is used for purposes that are not mentioned in the policy document.

    Motor Insurance

    Edelweiss motor insurance is associated with over 1500 network garages and offers third-party cover. It offers upto 9 add-on covers and a coverage of up to Rs. 7.5 lakhs. In case of personal accident cover, policyholders can receive up to Rs 2 lakh per person. 

     

    There are three insurance policies available under car insurance: 

    1. Edelweiss Private Car Liability Only Insurance (Only for Third-Party)
    2. Edelweiss Private Car Insurance Package (Third-Party Plus Insurer's Damage)
    3. Edelweiss Comprehensive Insurance Plan

    Edelweiss Private Car Liability Only Insurance (Only for Third-Party)

    This is the most basic type of car insurance in the absence of which one cannot legally take the car on the road. The cover includes the third person and their properties involved in the accident. It does not cover any expense related to the insurer or their vehicle.

     

    The policy does not include the people riding in the insurer's car if the insurer has not opted for Personal Accident Cover. 

    Edelweiss Private Car Insurance Package (Third-Party Plus Insurer's Damage)

    This plan covers a wider area of car insurance ensuring a hassle-free car cruise. The cover includes injuries to the insurer, damage to the insurer's car, and damage to third-party and their property. 

    Edelweiss Comprehensive Insurance Plan

    Edelweiss's comprehensive car insurance plan has two policies namely Cruise Mode and Max Mode.

    1. Cruise Mode: This is a standard package that covers third-party property damage, insurer's property damage, and personal injury of the insurer. 
    2. Max Mode: This plan covers every area that Cruise mode covers. In addition to that, Max mode offers on-road assistance, protection against depreciation, and deduction (The expense incurred due to the payment of mandatory deductible amount).

    Policy Name

    Area covered under the policy

    Area not covered under the policy

    Add-ons available

    Edelweiss Third-party only

    Damage to the third-party’s vehicle and property

    Damage to the insurer’s car and property, injury to the insurer. 

    Accident cover for anybody traveling in the insurer’s car with a limit of 2,00,000 per person.

    Edelweiss Third-Party Plus own Damage Package Insurance

    Damage and injury to the third-party and their properties.

    Damage and injury to the insurer and their cars.

    A decline in the value of the car or its parts due to aging.

    Accident cover for anybody traveling in the insurer’s car with a limit of 2,00,000 per person.

     

    Edelweiss General Health Insurance Policy

    The company has been serving clients with health insurance since 2017. It provides a wholesome insurance package that covers general treatments as well as a critical illness like cancer. The key highlight of its policies are that their claim ratio has grown significantly over the years. 

     

    Financial Year

    Claim Ratio

    2017-2018

    70%

    2018-2019

    115%

     

    The health insurance policy offered by Edelweiss has three variants:

    1. Silver Variant
    2. Gold Variant 
    3. Platinum Variant

    Silver Variant

    • The plan covers hospitalization expenses incurred by the insured person that includes illness or injury, room expenses, doctor charges, medicines, ICU, and so on. 
    • The expenses incurred one month before hospitalization and up to two months after hospitalizations are also covered under this policy. 
    • In addition to this, up to INR 1500 is also given to the insurer in case of ambulance requirement.

    Gold Variant

    • This plan offers cover for up to 2 months before hospitalization and up to 90 days after getting discharged from the hospital.
    • The ambulance charges provided to the insurer are up to INR 3000. 
    • The gold plan covers the medical expenses incurred by the in-patient treatment of the insurer if the insurer is an organ donor. 
    • The plan also offers maternity benefits up to INR 50,000 that includes two childbirth and legal termination of pregnancy.

    Platinum Variant

    • This plan provides a cash benefit of INR 1500 to the insurer if their hospitalization is for more than 3 days. 
    • This cash benefit is applicable up to 7 days of hospitalization. 
    • Under this policy, 90 days of pre-hospitalization charges and 180 days of post-hospitalization charges are covered. 
    • In case of ambulance requirements, the plan offers INR 10,000. 
    • Insurers who are organ donors are given up to 2 lakhs towards their in-patient treatment.
    • The platinum plan also provides cover for Ayurveda, Homeopathy, and Siddha treatments if the hospital is recognized by the government.

     

    Policy Name

    Minimum Eligibility Age

    Maximum Eligibility Age

    Insured Amount

    Policy Term

    Choice of premium payment

    Age of renewal

    Silver

    3 months

    65 years

    1-5 lakhs

    1-3 years

    One time

    Till end of life

    Gold

    3 months

    65 years

    5,7.5,10,15 or 20 lakhs

    1-3 years

    One time

    Till end of life

    Platinum

    3 months

    No specific limit

    15,20,50,75lakhs, or 1 crore

    1-3 years

    One time

    Till end of life

    Edelweiss Aarogya Sanjeevani Policy

    The policy is primarily designed to protect the insurer from huge hospital bills by giving a complete health cover. The plan also covers cataract treatment. If the insurer does not make a claim, the amount insured grows by 5-50% for the next year.

     

    Age limit

    Insured Amount

    Number of people covered

    Choice of premium payment

    18-65 years

    1-5 lakhs

    8

    Yearly, half-yearly, quarterly, and monthly

    Edelweiss COVID Healthcare

    The company has come up with two customized plans dedicated to COVID treatment:

    1. Corona Kavach Policy
    2. Corona Rakshak Policy

    Corona Kavach Policy

    The plan covers the medical expenses of the insurer if they fall sick due to COVID 19 infection. The coverage includes expenses incurred 15 days before hospitalization and up to 30 days after the discharge. 

    Corona Rakshak Policy

    The plan covers 100% of all the medical bills if the insurer requires a continuous 3 days of hospital care. However, the policy demands diagnosis from a government-approved center. 

     

    Policy Name

    Age of Entry

    Insured Amount

    Term of the policy

    Corona Kavach

    18 to 65 years

    INR 50,000 to 5 lakhs

    3.5,6.5, and 9.5 months

    Corona Rakshak

    18 to 65 years

    INR 50,000 to 2.5 lakhs

    3.5,6.5, and 9.5 months. 

    Edelweiss Saral Suraksha Bima

    Edelweiss's Saral Surakhsa Bima is designed to protect individuals from unexpected accidents that can possibly leave victims permanently injured or disabled. It is to secure your family's financial needs in case of unfortunate circumstances. Edelweiss offers policyholders sum insured amounts that are anywhere between INR 2,50,000 and INR 1,00,00,000. 

     

    It covers temporary or permanent disability, hospitalization costs in case of accidents, and an education grant to children upto 25 years of age. 

    Best Policies of Edelweiss

     

    Name of the policy

    Minimum age

    Maximum Age

    Amount insured

    Term of the policy

    Choice of premium payment

    Age of renewal

    Edelweiss platinum general health insurance

    3 months

    No age limit

    15, 20, 50, 75 lakhs, or 1 crore

    1-3 years

    One-time or single payment

    Till the end of life

    Edelweiss Corona Rakshak

    18 years

    65 years

    INR 50,000 to 2.5 lakhs

    3.5, 6.5, and 9.5 months

    Depends on the term of the policy

    NA

    Edelweiss Aarogya Sanjeevani

    18 years

    65 years

    1-5 lakhs

    -

    Yearly, half-yearly, quarterly, and monthly

    NA






    Edelweiss car insurance offers a wide range of coverage and impressive add-ons that make investors feel safe and satisfied. 

     

    According to Policy Bazaar, Edelweiss has an impressive rating of 4.5 out of 5. The break-up of the rating is given below

    1. Customer Service: 4/5
    2. Benefits of policy: 4/5
    3. Policy coverage: 4/5
    4. Premium: 4/5

     

    Insurance Dekho has given Edelweiss car insurance a rating of 4.9/5. The general health insurance gets a rating of 4.2/5.

     

    Let us now investigate the key details of Edelweiss car insurance policies and compare them with the market average.

     

    Key parameters 

    Edelweiss

    Market standard

    Market share

    0.14%

    3.57%

    Incurred Claims Ratio (ICR)

    145%

    90%

    Claim Settlement Rate (CSR)

    86.9%

    94.3%

    Number of cashless garages

    1,500

    3,870

    Rating by Policy Bazaar

    4.5 based on 27 reviews

    4.2 based on 22 reviews

    Rating by Insurance Dekho

    4.9 based on 118 reviews

    4.9 based on 167 reviews

    Edelweiss FAQs

    1. Why is Edelweiss the best for health insurance policies?

    The company has customized health plans that are designed to provide a complete financial cover for any medical emergency. The plans are tailor-made for COVID -19 which requires complete coverage before and after hospitalization. The investors are given updates at every step to make the process of health insurance simple and customer friendly.

    2. How to purchase an Edelweiss health insurance policy?

    The purchase of Edelweiss health insurance is a simple 5-step process.
    Step 1: Go to the official Edelweiss website and choose "Health insurance".
    Step 2: Fill in the required details under "Get Quote".
    Step 3: From the listed plans, choose the required plans and customize it as per your needs.
    Step 4: Pay the premium and receive the policy document in the registered email.

    3. What are the documents required for claiming Edelweiss health insurance?

    Following are the documents required for claiming health insurance from Edelweiss:
    Claim form duly filled and signed
    Medical reports
    Medical references
    Photo ID verified by the hospital
    Discharge papers
    Hospital bills
    Other documents required by the company

    4. What are the areas covered under Edelweiss General insurance?

    The policy covers the house, travel, vehicle, and health (except life) against fire, flood, accident, non-natural disasters, and stealing.

    5. How can the status of the Edelweiss policy be tracked?

    The customer service personnel can be contacted anytime to know about the policy details through the helpline number - 1800-212-1212.

    6. What are the highlights of the Edelweiss Health Insurance?

    Edelweiss health insurance policies not only give tax benefits to the insurers but also provide a complete health cover. The cover includes pre-hospitalization charges, after discharge expenses, in-patient treatment, regular health check-ups, among others.

    7. What is excluded from Edelweiss Car Insurance policies?

    Edelweiss Car Insurance policies do not provide coverage for wear and tear caused to parts over the years or any damages the car has suffered from in the event of war or nuclear perils. The policy also excludes electrical or mechanical damage.