I am from India and going to buy Insurance for my New home. What should I keep in mind before selecting a company and can you recommend some good compaines?
Couple of thing has to be kept in mind before you select any insurance NEVER settle for less coverage , AVOID Insurance agents , ask about the Hidden fees , Buy from a stable insurance company
you should know whether the insurance covers the full claim or not.Is that insurance company which you are approaching is a reputed one too. http://www.royalsundaram.in
There are many good carriers, first seek the advise from a local independent agent, check with neighbors and friends for a reccomendation. Be sure your are insuring the home for the reconstruction cost not market value. If you have a high end Home of $1,000,000 or more seek a carrier such as CHUBB who specializes in the high end home. You may also wish to place your auto coverage to bundle the home/auto with the same carrier, which will provide a multi-policy discount. Also to consider if you are on a coastal property you may also be required to obtain flood insurance. Most direct writer offer little in the way of advise as they only know of one way, their comopany way which may not be what you need. Seek the advise from a professional insurance agent, most represent many carriers so that they can match you to the correct carrier for the coverage needed, and the premium at a competitive priceing.
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Insurance other than ‘Life Insurance’ falls under the category of General Insurance. General Insurance comprises of insurance of property against fire, burglary etc, personal insurance such as Accident and Health Insurance, and liability insurance which covers legal liabilities. There are also other covers such as Errors and Omissions insurance for professionals, credit insurance etc.<a href="http://insurance-providers.us/">Life Insurance Company</a>
Before deciding on a home insurance company it's always worth doing a search for the company name to see what experiences other customers have had with them.
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