9 Ways to Choose the Right Loss Insurance Product
Is the bias wrong? It is possible to make a mistake in choosing a loss insurance product. The error can be felt after becoming a member of an insurance company. Between expectations and reality about the insurance product you buy does not match. Big promises that are expected cannot be proven by the insurance company whose product you buy.
So, reading and studying carefully and in detail, every promise given is a necessity. Also, learn about its track record and the level of public trust in the loss insurance company.
How to Choose the Right Loss Insurance Product
Here are nine tips on how to choose the right loss insurance product.First, Separate objects/goods based on their economic calculations
Determine the items that are considered necessary to be insured so that they are not lost in the future. For example, if you want to take out fire insurance for your house and furniture, then you don't need to include a computer and its accessories in the calculation. This is because the recovery value for computer companies is very low when compared to the matter at the time of purchasing the computer or when it will be insured.
Second, Identify objects/items clearly
It is recommended to first identify the goods/objects to be insured, for example, in a garment factory with owned machines, generators and other equipment that is still related to factory production activities.
Third, choose an insurance company with a good reputation
Do not be easily fooled by the offer of a low premium rate from a specific insurance company. If you are misled, it is feared that the insurance company will not be able to complete the claim payment when you file a claim against the insurance company.
Fourth, provide information/information clearly
It is advisable to provide a very clear description of the object/goods to be insured. In addition, look for complete information about the insurance products offered. You can ask about the type of insurance, the premium rate, the coverage area, the number of fees to be paid and the claim procedure.
Fifth, good insurance coverage
We recommend that you choose insurance with the broadest coverage before the insurance company issues the policy. For example, select cover property all risks for building property insurance, or cover all risks for motor vehicle insurance.
Sixth, Choose an insurance product package
It is recommended to choose one insurance package at a time rather than selecting only one insurance product, this way you will get better service and discount facilities.
Seventh, Choose the First Loss Insurance system
If you have an object of coverage with a tremendous value, it is recommended to use the first loss insurance system from the insurance company. This is intended so that the premium you have to pay does not become too large.
Eighth, System Adjustable Policy
The amount or value of merchandise stock insurance will generally show a different volume every day and every month. To overcome this, you can choose an adjustable policy system so that you will pay a premium based on the transactions or volumes that you have made.
Ninth, Research and ask
It is advisable always carefully to read all policy statements and their articles. You can also inquire about the complete claim procedure before agreeing to issue an insurance policy. If there is an error in writing, it's a good idea to immediately notify the insurance company so that they will give a correction to the policy.
9 Ways to Choose the Right Loss Insurance Product by ITI190 - Insurance Top Info 190