Planning To Get Insured? Not Before You Know the 9 Essentials

Purchase of general insurance is gaining increasing importance across people. It’s one of the most important things which form an essential aspect of investment decisions in person’s life. In this article I am going to share with you the 9 essentials required before getting general insurance.

First let’s understand what’s general insurance?

It is something which enables one to invest and be secured against damage to valuable assets and property. However, if you consider that it is similar to life insurance then you’re wrong.

The different categories covered under this are-

Property insurance- It insures your valuable property against burglary and fire and other such events.

Health- It covers you against accidents and other legal liabilities.

Auto- This includes car and motor insurance which ensures protection of your vehicle. The insurer pays the insured the compensation amount when his/her vehicle gets damaged or lost due to unprecedented events.

Travel- It covers the insured against unprecedented events which may occur during the travel like baggage lost, flight delays and any medical emergency during the travel.

Hence, in simple terms, it’s a cover which ensures a reimbursement to be received by you from the insurer during any unprecedented events.

Now let’s have a look at 9 essentials one needs to consider before getting general insurance-

Don’t just concentrate on the price factor-

It’s not a good way to base your purchase on just the price of the cover. If you’re getting a cover at lowest price don’t forget to consider whether it’s covering all your requirements. Hence, always base your decisions contemplating on various aspects other than price like policy contents and what all must be covered, add-ons, etc.

Ensure the legitimacy of the insurer-

Before purchase, ensure the validity of the insurer’s financial ratings. This is crucial to make sure the insurer will help whenever you need it the most. Also go through the customer reviews and feedback about the quality of services provided by the insurer. This will help you get the best deal from a trusted company.

Beware of bogus agents-

If taking the help of agents, ensure their validity as there are several agents who sell fake insurance policies.

Does your insurer have proper license?

Before, purchasing any insurance, ensure that it is genuine. The insurer must possess a valid license to conduct business in the place you reside.

Clear all your concerns

Prior to getting a policy, clear all your concerns like whether your policy covers essentials like overseas medical expenses, rental car facility and so on. Also ensure that your insurer will provide immediate online support or telecom facilities.

Do regular online check

Do a regular check online about the current policy as well as several other policies offered from several general insurance companies to stay updated about the current premium rates. You’ll be able to compare & get best insurance quotes.

Remember the above important things as a checklist before buying general insurance for you or your family