General Insurance: Gaurav Garg

I am planning to buy a health insurance policy. My medical reports show an elevated sugar level. However, the doctor says this does not necessarily indicate a diabetic problem. But both my maternal grandfather and mother are diabetic. Based on my family history and health reports, the insurance company is demanding a higher premium. Can the company do this? How do I ensure being charged fairly?
It is necessary to declare your medical condition, including pre-existing diseases, to the insurance company at the time of application. There can be a difference in premium rates depending on the medical condition of the insured. But you can check with various insurance companies for their premium rates before zeroing in on one.

I want to renew my parents’ (60 and 65 years) health insurance policy and include cashless domiciliary treatment. Is the treatment included in the policy? What is the additional premium payable and under what conditions can it be availed?
Domiciliary treatment implies treatment availed at home as the insured is not in a position to be taken to a hospital or there is non-availability of hospital accommodation. Most insurance companies offer this at a marginal or no additional cost, and is usually built in the base health plan. However, domiciliary treatment will not qualify for cashless claims. You may need to check specifically with your insurer for this cover.

I am planning to buy a second-hand car. Can the ongoing car insurance policy be transferred to me? What is the procedure? Since the owner had filed for claims even for a dent, will I have to pay a higher premium when the policy is renewed?
Yes, the policy can be transferred. You must send an application to the insurance company within 14 days from the date of purchase of the vehicle. Besides, you need to submit the following documents — a fresh proposal form, the original insurance certificate, evidence of sale, registration details of the vehicle, date of purchase and the details of the previous owner and the insurance policy.

On receipt of these documents, the insurance company will make the necessary changes in its records and issue a fresh insurance certificate in your name. The insurance company will charge a transfer fee and an applicable additional premium, if any.

While renewing the policy, the company will consider your claim experience and not that of the previous owner.

I am a jeweller based in Satara. My salesmen often deliver jewellery at customers’ residences and bring back payments. Can I get insure them against risks like theft while they are in transit?
Many insurers offer a special package policy, known as jewellers’ block insurance. This plan offers various covers, including for loss or damage to jewellery while it is in the custody of the insured or his employees. The cover for jewellery carried by your employee can be availed under it. However, cash and currency notes in transit are excluded. The risk of cash-in-transit can be covered under the cash-in-transit policy.

The writer is MD and CEO of Tata AIG General Insurance. Send your queries to yourmoney@bsmail.in