Household
Household
Look for
An insurer who offers various combinations of risks to be covered under various
sections
Flexible method of incorporating various sections and its respective sum insured
instead of following the insurers standard
A policy which provides insurance on First Loss Basis (FLB means the insurer will
pay up to the agreed sum insured irrespective of your value of the property without
applying the under insurance condition)
An insurer does not ask too much of details of assets if you have only one of such
asset. However if you have more than one of such asset, please furnish more details
Insurance provides terrorism cover as an inbuilt cover.
A good broker preferably domain experts as your advisor and for your insurance management
Avoid
Insuring small items/assets with values less than Rs.2500 against fire and burglary
risks and Rs.5000 against breakdown risks
Insuring jewels with sum insured's without proper description and its value
Expecting all small losses to be paid by the policy. If required you will have to
pay more to get less- the small claims and hence not advisable.
Do not include land value while taking building insurance as insurers will not pay
for it.
Useful Hints
Change of address of location in case of shifting of residence must be informed
before shifting.
If items insured are replaced it must be endorsed on the policy immediately
Be aware that the value for insurance is proper and maintained throughout the year.
Little extra time to be spent with your broker to revise value and incorporate proper
description and additions
