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Insurance companies to offer cover on offbeat needs

April 30 2012

Have you lost your car keys or do you need a second doctor's opinion? Insurance companies are working towards such off beat needs and ensuring that you get cover through its interesting products or through riders or standalone products.

List of situations on which the insurance companies offer cover:

Bail Bond: This is either offered as a benefit with a travel policy or as a rider. Insurance companies in todays time offer this cover in-built along with student's travel policy. The cover is provided especially to those who travel abroad for higher studies. Also, in times of bailable offense only, if an individual during his travel abroad is detained or arrested for breaking a law then the insurance company will pay the bail amount.

E-Opinion: Usually a standard health policy will cover only medical bills and refund doctors consultation fees but insurance companies now will provide cover on doctor's second opinion but in serious cases only.

Price Protection: Insurance companies offer cover on the loss incurred by a buyer when he pays more for a product. In other words, cover is provided on the difference between the price charged to your card and the lower price advertised on purchase of the same item. Basically, if the claim is made for a particular product after 30 days then this shall not be considered valid. List of items covered and not covered by insurance companies. Furniture and consumer durables are covered. Precious stones, cheques, gold, tickets, and other collectibles are not covered. Also, customized cover is provided to golfers, for car keys and television channels. The cover provided to golfers involves the risk related to the sport. These are personal accident and other fire and allied perils. The cover on car keys is provided on the cost of the replaced keys if it has been lost or stolen. There are numerous insurance companies that provide higher sum assured if you own high-end cars.

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