Readers' Corner: General Insurance

Last year while travelling to Prague, my luggage was damaged, and some important documents fell out of it. I lodged a complaint but wanted to know if a travel insurance would have been helpful in any way. Also how much cover is enough or such kind of inconvenience?

Yes, Travel Insurance could have helped you to indemnify the losses to a certain extent. There are travel Insurance plans that provide cover towards damage of the checked-in baggage and also towards loss of personal documents such as passport, driving licence. Coverage ranging from $250 to $1,000 

is available.

I belong to a biker group and we always try to extend our reach by visiting different countries on our bike. Last year while travelling to Russia I had a small accident in China. My bike, however, was covered because of my insurance but my injury wasn’t. Wanted to know if there is a specific kind of travel insurance I should be looking for in relation to my kind of lifestyle and activities?

Overseas Travel Insurance plans provide coverage if you travel by a scheduled airline or cruise only.  Few travel insurance plans are available in foreign countries that offer coverage for road trips.

While my father was driving our car, an auto hit from the left side, causing some denting on both front and back doors on the left side of the car. There is also trouble opening the car front left door. Any idea if it makes sense to go for insurance claim for this repair or should I get it done without a lodging a claim? At present, the annual premium is about Rs 5,700 with a 50 per cent no-claim bonus or NCB (coming to Rs 2,300). I'm planning to take it to the service centre. I know that for metal parts only 50 per cent would be covered (since the vehicle is over 10 years old). How about the cost of labour and painting?

You should check the cost of repairs and the amount receivable from insurance company against claimed damages. The vehicle's age is more than 10 years and hence there will be 50 per cent depreciation applicable to parts. You are also enjoying 50 per cent NCB. If you think that the claim amount paid by the insurer is low, and you can bear the entire cost of repair, you can consider retaining the NCB. Th NCB is transferable and when you buy a new vehicle, you can get the benefit.

I am thinking of buying health insurance for myself for about Rs 1 million. After research, I realised that most of the policies have some exclusions including critical diseases like cancer. What else should I consider before buying a policy?

Consider buying a policy which offers adequate sum insured options with less restrictive clauses, additional benefits like an Outpatient cover, restoration benefit, coverage towards medical treatment taken abroad, coverage towards alternative treatments and hospital cash cover.

An insurer has rejected my claim as the documents provided by the hospital are not in order. How should I escalate the matter?

You may follow the grievance redressal procedures laid down by your insurance company. You can approach the Grievance Redressal Officer at the nearest branch of the insurer or call customer service helpline number.

If you are still not satisfied with the resolution, then you may escalate by registering a complaint with the insurance regulatory through its call centre or its website or approach the insurance ombudsman.