by Chezan Changoo
Insuring your interests or cherished valuables can be a laborious and occasionally unpleasant task.
However, merely signing the policy doesn’t absolve you of further responsibilities beyond paying the monthly insurance premium.
We have a few tips to make sure your policy serves you effectively:
Review your current policy to make sure you understand your obligations
If your current policy does not cater for your needs adequately, speak to your broker or insurer and have your cover reassessed.
If your current coverage falls short of your needs, engage with your broker or insurer to reassess your cover.
Regular reviews—ideally conducted annually—account for evolving lifestyles and changing insurance requirements.
Think ahead
While contemplating worst-case scenarios can be daunting, it’s prudent to envision potential events that might necessitate a claim.
Go through the claims process by looking through your policy or speaking to your insurer.
Familiarize yourself with what documents or requirements would be submitted in such a case so that in the unfortunate circumstance that you do need to claim, the process has one less stressful element.
Familiarize yourself with any of the exclusions
Delve into the policy wording to ensure you’re paying for the precise coverage you require.
Sometimes deciphering the fine print can be challenging, so taking the time to chat to your insurer goes a long way to understanding the limits within which you can claim.
Knowledge empowers you to secure adequate coverage. Protect yourself wisely.
Please note that the content provided above is for informational purposes only and should not be considered as legal advice. For comprehensive guidance and to ensure that you are fully compliant with the law, it is advisable to consult with a legal professional.
