Buying insurance online is safe and easy but you must read all the features before buying
Understand All the Features
Buying insurance online is a breeze but only if you take the pain of reading and understanding all the features. If you have decided to buy insurance online, and then make sure you understand the basics of insurance. The next step is to get to know the various features and options the insurance company you have chosen is offering. That is not enough. You need to go beyond knowing the features and options. You must make sure you have understood what the various features and options mean.
For example, in health insurance, you need to make complete disclosures about your health. A claim that you make later, may get rejected because you didn’t make a disclosure about an illness you were suffering from when buying the policy. Carefully check the diseases that are not covered for the first two or four years. Find out which pre-existing illnesses will not be covered and for how long.
Ask Questions to Your Insurer
You may have decided to buy an insurance policy in response to promotional email from an insurer. The premium quoted normally is very low and it normally is for a person of a much younger age group. Check how much will be the premium for your age, the features you would be eligible for, etc.
You would want to buy motor insurance, health insurance, home insurance, or travel insurance. In every insurance segment, there will be some features difficult to understand. It would serve your purpose, if you avail the instant online chat facility provided by the insurance company to extract more information and understand the features better.
You need to know if the CNG/LPG kit that you have fitted in your vehicle will have to be covered separately or be included in the basic vehicle insurance. You must know the diseases excluded from the policy coverage, and after what period would those diseases be covered.
Insurance companies have provided you with the facility of buying insurance policies online. It is for convenience but that does not mean you can ignore the need for understanding something that you are paying for.
Make Use of the Free-Look Period
There is a free-look period for every policy you purchase. The free-look period, normally 15 days, allows you to return the insurance policy you have bought. This facility is aimed at protecting you from being forced to buying a protection that you think is not the right fit. But it does not mean you can be careless in buying online as you have the free-look period to take the final call.
Returning a policy during the free-look leads to costs for you as well as the insurance company. Every form of insurance – health insurance, home insurance, motor insurance and travel insurance – is a necessity for you. You have to be extra careful in ensuring what you are buying will fulfil your needs.
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