BackAsk Mint | Car insurance valid even if you shift city
Ask Mint | Car insurance valid even if you shift city
PremiumRahul Aggarwal , Director, Optima Insurance Brokers
My husband and I are planning a trip to Europe. What travel insurance should we take?
—Anuraag Sen
What all is covered under a householder’s policy?
—Srinivas Jain
A householder’s policy is a collection of 10-12 covers depending on the insurer. You can choose as per your requirement. However, taking fire insurance is mandatory. The important risks which can be covered are burglary, loss or damage to all kinds of electronic equipment, breakdown of electrical appliances, death or disability of family members in an accident, legal liability arising out of death or injury to domestic servants, loss or damage to bicycles, legal liability arising out of the insured’s act and which causes injury or damages the property of others.
I recently shifted from Kolkata to New Delhi. My car, registered in West Bengal, is due for its insurance renewal. Will renewing the policy bought in Kolkata serve the purpose?
—Meenakshi Sharma
I am 66 years old and have a medical cover of Rs2 lakh. I am in good health, but I want to increase the cover to Rs5 lakh. How can I do that? I am worried about high premiums.
—Sameer Dholakia
The best way is to increase the sum insured in the current policy. Your insurer will allow you to increase the sum insured by 25% on each renewal. You can also buy a top-up plan, which will increase your sum insured to Rs5 lakh. Don’t worry about high premiums because as you grow older, you will end up making higher claims than the premium you pay.
Rahul Aggarwal is Director, Optima Insurance Brokers
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