What To Look For When Renewing Householders Insurance Policy
Date: 03-06-2018 Views: 737
This video talks about how you can compare home insurance plans or householders insurance policy and what to look for when renewing householders insurance policy.
Edited highlights
0:08 How do you compare home insurance plans or householders insurance policy? What do you look for when renewing householders insurance policy?
1:43 Householders insurance policy is available from general insurance companies
1:55 When you are renewing the policy if you have not taken any claim earlier, then the insurance company may offer you some discount
2:13 When you are renewing the policy if you have not taken any claim earlier, then the insurance company may offer you some discount
2:23 You need to check which company is charging a loading or extra premium and which is not
2:48 During renewal, you are also given the option of including new items like domestic appliances like television or microwave oven
2:55 You can make changes in the list of household contents like cash and valuables
3:04 You can increase the number of people covered in your family in case of personal accident insurance policy
3:19 You have to check which companies are offering you the flexibility. Compare the premiums but also take into account the features
3:31 For instance, what is the amount of depreciation on building one company is offering
3:52 Check whether the insurance is based on reinstatement basis
3:56 Insurance companies may compensate you on the basis of valuation of your building
4:05 In case of theft, you might be provided the contents based on their current value
4:10 You need to have reinstatement policy where, say, the insurance amount will reinstate the building in the original condition
4:17 This is basically the condition before you took the insurance
