I am 22 years old with no health issues till date and I am looking to buy an individual health plan for myself. I am looking for a sum insured of 20-25 lakh and a plan with no co-payment and sub-limits on room rent. Does the above criterion make sense? Please suggest a suitable plan.

—Yash Sanghav

Your criteria for shortlisting health insurance plans make sense. You should consider three other aspects while making this decision. First, opt for a plan with high no-claim bonus. This will ensure that you accumulate bonus sum insured in early years and can use it later if required. Second, select an insurer with a good claim settlement track record. It is important to ensure that the insurer will fulfil its obligations when you claim. Third, prefer a plan that has modest price increases with age. Some plans offer low premiums for younger age groups but increase the rates in later years.

You can look at Mint SecureNow Mediclaim Ratings to find a suitable plan (www.livemint.com/mintmediratings2018). These ratings are comprehensive and cover these factors. Plans relevant for you will be those suggested for age group of 30.

My car got damaged during Kerala floods. It was parked in front of my house, where water levels rose to the first floor. I went back after water receded. I tried switching on the vehicle but it didn’t start. Will the insurer pay for damages?

—Mani Pillai

Motor insurance specifically covers losses due to flood and inundation. So, your
claim is admissible under the policy.

At times claims related to water ingress are disputed by insurers. Insurers in the past have taken a view that an engine seizure resulting from a car being switched on while partially submerged is not covered. However, your claim is under different circumstances. As the car was fully sub-merged for a prolonged period, it is likely that the engine along with other components were damaged before you switched it on.

To read more queries, go to livemint.com/askmintmoney

Abhishek Bondia is principal officer and managing director, SecureNow.in. Queries and views at mintmoney@livemint.com

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