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Monthly Archives: July 2017

Way To Protect Yourself

Pet Insurance: In the case of a pet insurance, the insurer will pay veterinary expenses if the pet is wounded or suffering from illness. Pet insurance is also validated if the pet gets die, lost or stolen.

Health Insurance: A health insurance is a policy that says the insurer (who sold insurance) will pay a lump sum amount to the insured (who purchased insurance) person if the insured person gets injured by accident or falls sick by a disease.

Travel Insurance: As the name suggests, travel insurance is related to the loss that occurs while traveling. It covers theft of baggage, delayed luggage, personal possessions, emergency emigration, accidental death, etc.

Life insurance: Is a policy which states that the insurer will pay an amount to the nominee or the family of the insured person if the insured person dies. For this, the insured person needs to pay the premiums on a regular basis.

Dental Insurance: It is similar to the health insurance, but the difference is that the insurer will be liable to pay if the insured person finds something unusual in his dental care. Thus, dental insurance benefits in case of sudden dental costs.

Auto Insurance: The insurance which is related to the automobiles is called auto insurance. In this policy, if the vehicle gets damaged due to the accident or other traffic issues then the insurer will have to pay a certain amount to the owner. In the case of a huge damage, some auto companies replace the vehicles totally.

You have to inquire about the eligibility criteria and choose the discounts that apply to you. Also, a few good discount for going through a driver’s training course and other driver learning programs. If you want to reap the benefit of this offer, you just need to go through a certified course and then show the insurer your certificate. This can save you about 10% on premiums, which adds up. Remember that different types of auto models have different auto insurance coverage and rate.

Shop for Earthquake Insurance

mandatory by your state in the event of a loss. This may not be much for a property built within the last 10 years but an old property could have hundreds of required building upgrades.

Ask for multiple deductible options. The deductible your quotes have will drastically affect your annual premium. Ask your insurance broker to provide quotes with deductibles starting at 5% going up to 25%. The higher your deductible the lower your premium will be, it should be a reasonable amount you can come up with in the event of a loss.

Get quotes with and without earthquake sprinkler leakage. This coverage option can add a few thousand dollars to your premium. An extra thousand dollars can be a dealbreaker for anyone shopping for insurance. Although you may have fire sprinklers, earthquake sprinkler leakage me not fit in your budget. In the event of a major earthquake a basic policy without earthquake sprinkler leakage could be enough to save you from bankruptcy.

Go For Two Wheeler Insurance

The question that arises is why to buy it? Below is the list of features and benefits that may help you in deciding.

  • Stress-free inspection & cashless claim service
  • Offer coverage on partial or total loss to your vehicle that occur because of an accident or theft.
  • Provide coverage on third party damage and third party bodily injury.
  • You may get attractive discounts on renewal (NCB) for a claimless year.
  • Predefined reduction for the parts that requires replacement.
  • Vehicle transport to the nearest garage in case of major breakdown.
  • Lost key assistance
  • Add on coverage as well

Need of Insurance

It offers financial coverage for any type of damages or loss that occurs because of natural calamities such as fire, flood, etc.

  • Coverage against man-made calamities as well that includes theft or accident by external means etc.
  • The third party legal liability offers coverage against issues arising out of injury/death or property damage to the third party by your vehicle.

Before purchasing two wheeler insurance for your bike, scooty, scooter or any other two wheeler, it is essential to know the basic terminology of the same.

Premium

The premium you paid for insurance depends upon several factors such as city where the vehicle got registered, model, age of vehicle, year of manufacture, etc. Premium is decided and regulated by IRDA hence there is not much difference across several companies.

Coverage

It is the financial protection that the insurer offers to you and your two wheeler against any damage and loss caused due to any natural and/or man made calamity. Coverage depends upon the insurer and the plan chosen. That’s why it is advisable to buy two wheeler insurance online after comparison.

Exclusions

While purchasing the best two wheeler insurance, you must check its exclusions as it will tell you about situations where the insurer will not be able to offer coverage and required assistance.

Some exclusions will be- normal wear and tear, damage due to drunken driving, driving without license, damage caused by war or nuclear explosions, etc.

Ensure Travel Insurance Claims Approval

First, the good news: according to the most recent statistics, only about 2% to 3% of claims are denied every year. So, chances are, you will most likely be able to claim your losses and expenses and, one hopes, claim them fully. Still, there is that 2% to 3% chance that you won’t. If you need to make claims for substantial amounts, especially if it involves continuing medical care, this can be a big problem, and worse, wipe you out in terms of finances.

How can you increase your chances of making sure your claim is approved, preferably in its entirety? Let us examine the reasons they get disapproved and what you can do to ensure it isn’t something that will happen to you.

Make sure all the information on all your forms is correct and complete

Inaccurate information – a wrong year of birth, even a missing middle initial – can cause problems when it comes to making claims on your single trip travel insurance. But nothing can cause more problems than not fully disclosing health issues with the insurer.

For instance, if you have a pre-existing condition, such as hypertension or a heart condition that was not disclosed, you may not be able to claim emergency medical expenses on your trip – even if that was for a sudden bout of stomach flu.

Always check the inclusions on your policy

Another one of the most common reasons for denial of claims, whether it’s for single trip travel insurance or annual cover, is that simply, the expenses being claimed are for events that aren’t covered. The time to check what’s included in your coverage is before you need it, so always make sure you read your policy carefully before signing. If you’re getting it through a travel agent, make sure it is sufficiently explained, and if you’re getting it online, be sure to read through it carefully. Make comparisons before you buy, and remember, the least expensive isn’t always the best option.

Always get pre-approval prior to medical treatment

One of the most important things to remember is the assistance phone number for your insurers. This is often a toll-free number marked in big bold type on the envelope your policy is in- some even provide bookmarks and stickers you can put alongside your tickets so you can find them easily. Should you need to get medical treatment or service, this is the number to call so you can be directed to a pre-approved facility or doctor. You’ll then be assured of easy reimbursement- or in some cases, not need to outlay any cash.