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General Insurance:Rakesh Jain

Business Standard 

I have the option of including my parents in my employer's but I have to pay 10 per cent of the claim amount. Should I opt for that, since they are already covered under my family floater policy?
plans generally provide added advantages - such as inclusion of many pre-existing diseases, cost benefit, added covers - that might not be available immediately under individual cover. However, one should compare the premium rate and product features being offered by the group health cover vis-à-vis the individual policy you have. Additionally, you should also decide after evaluating whether the sum insured under your individual policy is adequate to cover all exigencies.

I am going abroad for a two-year project and am planning to give my house on rent. Asthe family does not require furniture, I am keeping my furniture in a warehouse for two years. Can I take for it? What will be the cover?
You can cover your home structure against fire and allied perils. However, for furniture, if the warehouse owner is taking insurance, then you don't require to take it separately. In case the warehouse owner doesn't have for the goods in his custody, you have to take This can be taken for a maximum of 12 months and will have to be renewed. It will cover loss or damage because of fire and allied perils, and burglary.

My wife and I have a cover of Rs 1 lakh each from our employers. Both policies cover employee and family. My wife needs to undergo a surgery, for which the total expenses will come to Rs 1.5 lakh. Can we claim the amount from both policies?
Yes, you can claim the total amount of Rs 1.5 lakh shared between both the policies.

I want to convert my car into a taxi and rent it out. What kind of will I have to take?
Converting a private car to a taxi necessitates an endorsement in the registration certificate of the vehicle issued by the RTO, as the purpose of use of the vehicle changes. It is only after the necessary endorsement that the vehicle can be used for commercial purpose. The owner should obtain a permit from the RTO to ply the vehicle as a passenger carrying vehicle.

The views expressed are expert's own. Send your queries to yourmoney@bsmail.in

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