We at Alert Insurance Brokers Pvt. Ltd. ensure that our customers make an informed decision before buying an Insurance policy. There are so many add on covers & extensions available for each Insurance product. The choice our customers make while purchasing an Insurance policy is directly related to the benefits availed during an unfortunate event of a claim.
DID YOU KNOW !!!
Private car Insurance:
It is mandatory to buy 3 years Third party Insurance for your new privare car. You can choose to buy Own damage for either 1 or 3 years period.
Save up to 75% De Tariff discount on Own Damage premium for high end cars
You can now avail Nil Depreciation add on cover for your private car Insurance (Available up to age 11 of the vehicle)
Under car Insurance you can also avail Add on covers like Consumables, Engine Protect, Return to Invoice, Loss of key …etc (Available up to age 5 of the vehicle)
For individuals “Owner Driver” Personal accident cover of up to Rs. 7,50,000 can also be covered by paying extra premium. This covers Accidental death to the Owner cum driver
Legal Liability to paid driver can also be covered by paying nominal premium
Unnamed passengers can also be covered under personal accident for a Sum Insured of Rs 2 lakhs each according to the seating capacity of the vehicle
If there is a break in Insurance period the vehicle needs to be inspected by the Insurance company’s representative before issuing the policy
If you have registered a claim with Insurance Company and for any reason you have changed your mind and want to withdraw the claim the same needs to be informed to the Insurance Company else your NCB during renewal will get affected.
For more details click the below link:
Two wheeler Insurance:
It is mandatory to buy 5 years Third party Insurance for your new Two wheeler. You can choose to buy Own damage for either 1 or 5 years period.
You can now avail Nil depreciation add on cover for your Bike Insurance(up to age 5)
You can now renew Long Term Two Wheeler Insurance policy. Options include 2 , 3 or 5 year policy period
For individuals “Owner Driver” Personal accident cover of up to Rs. 7,50,000 can also be covered by paying extra premium. This covers Accidental death to the Owner cum driverPillion Rider can also be covered on unnammed basis under personal accident
Do not have your previous Two Wheeler Insurance Policy for your bike? Good News.You can still buy a new policy without any inspection from Policy99.com click on the “Break in” option
For more details click the below link: https://www.policy99.com/two-wheeler-insurance
Opt for Nil Depreciation add on cover with various options till age 5 of the vehicle
Opt for IMT 23 add on cover on Commercial vehicle Insurance which will also cover bumper, head light…etc
Ask for overturning cover for cranes and other misc. types of vehicles
For more details click the below link:
Mediclaim / Health Insurance:
Ask for policies without room rent capping & Propotionate clause
Normal mediclaim policies will have a cap of 1% of the Sum Insured on room rent per day and 2% of the Sum Insured for ICU
Under Mediclaim Insurance you can now avail Sum Insured up to Rs 1.50 to 2 Crores
Some Insurance companies also cover Hospitalization Treatment availed outside India for certain critical illness
Ideally 1% of your Mediclaim Sum Insured must be the room rent during hospitalization to get maximum benefit from your policy
Propotionate clause is applied and deducted as per the same propotion of the room rent per day
For e.g if you have a Sum Insured of Rs 5,00,000 , 1% of the Sum Insured i.e Rs 5000 only will be paid as room rent and Rs 10,000 only will be paid as ICU charges per day
Under the above e.g If you stay in a room where the room rent per day is Rs 10,000 and if the total claim Amount is Rs 3,00,000 then only Rs 1,50,000 will be paid i.e propotionate clause will be applied
Ask for Super Top Up Policies which are very cheaply priced for the benefits offered.
You can also buy standalone Critical Illness plan to get lump sum payment of Sum Insured 30 days after diagnosis of specific critical illness
Look for the following waiting periods before buying a policy.Waiting period of First 30 days, 1st year, 2nd year, 4th year, pre existing diseases
Be aware of disease wise sub limits
Opt for add on premium like: (Offered only by few Insurance Companies) :
a) No Room rent capping
b) No Proportionate deduction clause
c) Maternity expenses
d) Extended Cataract Limit
It is not advisable to change your mediclaim insurance company. If you are not satisfied with your existing Insurance company you can port to another Insurance company 50 days before the expiry date.
If you already have any pre existing health condition or made any claim in the past then getting the portability becomes very difficult.
Most of the Insurance companies pay 30 days pre and 60 days post hospitalization expenses related to the same teatment / hospitalization
Ensure that the Doctor’s prescription , X- Ray , X Ray report, Poof of Payment and Invoice are all available while claim submission
For more details click the below link: https://www.policy99.com/health-insurance
Overseas Travel Insurance:
Under overseas Travel Insurance round trip Premium starts as low as Rs 180
Overseas mediclaim Insurance can be taken before leaving the Republic of India
In patient Hospitalization is not a must to avail claims under most Travel Insurance policies
If you are a frequent traveler you can opt for Annual Multi Trip Overseas Travel Insurance which works out cheaper
For more details click the below link:https://www.policy99.com/overseas-travel-insurance
Fire & Allied Perils:
To avoid under insurance deduction during a claim it is strongly recommended that the Sum Insured indicates as follows:
Building, Furniture fixtures and fittings :Reinstatement value basis (i.e New for Old)
Plant ,Machinery, Equipment’s, Air Conditioners & Stabilizers, Generators, Transformer and accessories: New replacement value basis
Stocks :Market Value Basis
Under Insurance formula % = Sum Insured / New replacement value X 100
During claim the items Insured must appear in the Profit & Loss Account & Balance sheet of the Insured
Building must be constructed as per Approved plan for Insurance claim
For stocks ensure you have a Stock register, Stock movement register, Gate pass.
Be aware of warranties like :
Basement warranty, Sub limits ,Open stock warranty…etc and take an informed decision while finalizing any Insurance policy.
To save premium furnish bifurcation of Sum Insured for building & plinth and foundation