General Insurance education and guide line

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There are many general insurance policy being marketed by General Insurance Companies , policy terms & conditions are written in small letters ,which are never read by customers . Customers are facing problem while lodging any claims . We are giving few guideline , kindly take care before you opting for General Insurance policy. Motor Insurance: - When you opt for Vehicle Insurance , never insist agent / Co. to reduce sum insured that will result in reduction of claim amount due to under insurance . Secondly always get comprehensive insurance of your vehicle when it is less than 10 year old , claim is paid after deduction depreciation of parts and excess. House Hold Insurance/Machinery Insurance :- While getting house hold item insured . Get insured for present replacement value of product . Try to keep purchase bill of items in safe custody . Insurance company will try to verify value of goods from market . If insurance value is less ,then there will be under insurance & your claim amount will be deducted .House hold insurance is done for burglary, fire ,flood ,brake down, always ask agent or officer to give in writing what they are covering, This covers jewellary ,cash ,cash in transit. Shopkeeper Insurance : In a all stocks ,cash ,cash in transit ,furniture ,glasses ,glow sign board are covered While insuring stock of shop or malls ,take insurance value of stock on higher side ,always keep records of stock and daily sale and purchase ,in event of loss ,all records are verified .otherwise they will deduct amount for underinsurance and your claim will be declared substandard and 25% of amount will be deducted . Medical ,accidental ,travel insurance:- In medical insurance ,in case you are hospitalized for more than 24 hrs ,you will be paid full amount along with expenses incurred at residence. There are list of hospitals and they have cashless facilities, In accidental insurance ,you will be paid for loss of business and amount is fixed and per week, incase of death ,your family will be paid full amount. If any query ,you may post on this matter.