How to Choose the Right Loss Insurance Product

How to Choose the Right Loss Insurance Product

There are several things that must be considered when determining the general insurance product that will be used by yourself or the company where you work. Here are some tips on how to choose the right general insurance product.

# Separate objects/goods based on economic calculations Choose items that are deemed necessary to be insured so that you will not lose in the future. For example, if you want to take out fire insurance for a house and its furniture, then there is no need to include computers and accessories in the calculation. This is because the recovery value for computer companies is very low when compared to the value at the time of purchasing the computer or when it will be insured. 

# 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.

# Choose an insurance company with a good reputation Don't be easily fooled by the offer of a low premium rate from a certain insurance company. If you are fooled, it is feared that the insurance company will not be able to complete the claim payment when you submit a claim against the insurance company. 

# Provide clear information/descriptions It is advisable to provide very clear information about the object/item to be insured. In addition, look for as much information as possible about the insurance products offered. You can ask about the type of insurance, the premium rate, the area of ​​coverage, the amount to be paid and the claim procedure. 

# Good insurance coverage coverage You should choose insurance that has the widest guarantee before the insurance company issues the policy. For example, choose cover property all risks for building property insurance, or cover all risks for motor vehicle insurance. 

# Choose an insurance product package It is recommended to choose one insurance package at a time rather than choosing just one insurance product. This way you will get better service and discount facilities. 

# Choose the First Loss Insurance system If you have an object insured with a very large value, it is recommended to use the first loss insurance system from the insurer. This is intended so that the premium you have to pay does not become too large. 

# Adjustable Policy System The amount or insurance value of merchandise stocks 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 premiums based on transactions or volumes that you have actually made.

# Thorough and ask It is advisable to always read carefully 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 is better to immediately notify the insurer so that they will issue a correction to the policy.