Home insurance policy covers structure of the house as well as its contents

Jul 15 2014, 08:09 IST
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SummaryRepainting your vehicle with a different colour doesn’t impact the claims process. Having said this, it makes sense to keep your insurance company informed

Would I face any issues with claims if I repainted my car with a different colour?

— Anand Singh

Repainting your vehicle with a different colour doesn’t impact the claims process. Having said this, it makes sense to keep your insurance company informed regarding any changes made to the vehicle, whether mechanical or physical in nature.

Can I claim money from the insurance company for minor damages to my vehicle? What are its implications in the renewal?

— Ashutosh Saini

The premium of your vehicle is calculated on the basis of the model of your car, age, distance travelled, etc. There is no loading on the renewal premium if you make a claim for repairs. However, you would lose on the no-claim bonus (NCB), which is offered as a discount on the total premium. NCB increases for every year of claim not being made on the policy. As such, preserving the NCB earned over a period of time helps lower premium rates, as well as in transfer of NCB to a new car purchased. You should consider the amount to be incurred on repair of the dent, your annual insurance premium outgo, quantum of NCB in case of no-claim as well as any plans to buy a new car before deciding on claims for expenses incurred on repairs.

How do I take an insurance cover for domestic travel of 15 days?

— Pramod Kumar

You can purchase insurance cover for domestic travel by air or bus at the time of booking tickets from the website of the airline/bus service provider or select travel portals. Domestic travel insurance offers diverse covers, including cover for personal accident, emergency hospitalisation expenses, loss of checked-in-baggage, delay of checked-in-baggage and trip cancellation/interruption/delay.

My daughter is covered under our family’s individual health policy. She is getting married next month. Can she continue with the same policy? If she takes a policy along with her husband, can she continue to get the no-claim bonus?

— Paramjit Singh

Your daughter can continue with her current health insurance policy after marriage and enjoy the NCB and other features as per the terms and conditions of the policy. Alternatively, she could port her health insurance cover to her husband’s policy. She will get a waiver of the waiting period in this new policy as per the number of years she was covered under her health policy previously. Also, while porting, she can take a cover that is at least

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