Don’t Be Careless, Here’s How to Choose Insurance Products

Your awareness of the importance of protecting yourself, your family and your assets with insurance. There are several things that must be considered when determining a loss insurance product that will be used by yourself or the company where you work. Here are some tips on how to choose the right loss insurance product.

# Separate objects/goods based on their 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 your house and furniture, 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 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

Do not be easily fooled by low premium rate offers from a certain 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.

# Provide information/description 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 amount of fees to be paid and the claim procedure.

# Good insurance coverage

We recommend that you choose the insurance with the widest 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.

# Choose an insurance product package

It is recommended to choose one insurance package at a time rather than choosing only one insurance product, this way you will get better service and discount facilities.

# Choose the First Loss Insurance system

If you have an object of coverage with a very large 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.

# 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.

# Research and ask

It is advisable to always carefully 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 issue a correction to the policy.

Choose insurance that provides a guarantee if there is a problem. A health guarantee if it’s for you and your family, a repair warranty for your home and vehicle is certainly needed. Those are the mandatory things to know if you want to choose comprehensive insurance to protect assets.