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Insurance Article

General Insurance : How to Choose the Right Policy

May 03 2010

As India progresses and develops even further, the internet becomes even more inherent to everyone's lives. The internet has also influenced the whole process of acquiring a general insurance policy in India. Furthermore, people are also becoming wiser and more informed about the variety of options that are available to them now. Resultantly, the internet is now the best place to buy a general insurance policy.

However, despite the convenience of obtaining an online general insurance policy, there are still some things that a prospective buyer should keep in mind before confirming any one option. The following are some tips on using the internet for buying the right general insurance policy.

General insurance implies all types of insurance policies barring life insurance. Therefore, with so many categories the prospective buyer should decide the kind of policy he wants before even beginning his or her search.

  • Items or People To Be Insured:

    The prospective buyer also needs to be sure of the number of items or people he wants to insure. For example, if the person wants insurance for his whole family then getting individual policies for all of them would be an expensive option. The better choice would be a family floater plan which would cover the whole family under the purview of one policy.

  • Financial Implications:

    The prospective buyer should also know the kind of money he can spare towards the premium of the policy. It would be pointless to choose a policy that one cannot regularly pay for.

  • Comparison Shopping:

    There are many options available on the internet and most of them would differ either with respect to the coverage or in terms of premium. Therefore, comparing insurance policies from different insurance providers and websites is something that would help the prospective buyer make a more informed choice.

  • Miscellaneous Aspects:

    Apart from the above listed major facets of a general insurance policy, there are other things that can also be compared if the prospective buyer wants to be elaborate. The prospective buyer can look into the exceptions in the coverage document, additional bonuses or clauses that the policy provides and even the network of clinics and hospitals associated with the policy.

Choosing the right policy is very important as a policy selected in haste could turn out to be useless when the time to claim arises.

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