Insurance provides peace of mind and reach out to help and support when all of a sudden some unfortunate incidents occur unexpectedly. Today most of the insurance policies are customizable and tailored according to the exact needs of the situation and thus catering the need of the customer. Almost all the top insurance companies worldwide provide different types of customizable insurance policies to individuals to corporate according to their requirements. Besides new innovative policies and discounts are offered to woo the customers. Insurance is a highly competitive sector and hence requires swift service and prompt claims management. Besides normal insurance policies, nowadays, Comprehensive Insurance cover is also offered to provide maximum protection. Comprehensive Insurance is the highest level of insurance cover any individual can opt for. As insurance itself is very confusing, it is better to understand the exact need before choosing any insurance plan whether it is for motorcar or home. Comprehensive insurance do provide extra coverage and benefits to the customers, however against much more premium in comparison to ordinary insurance policies. Comprehensive insurance plans covers much more than any ordinary policy. Both regarding house or motor, insurance, comprehensive insurance protects lots more and thus provides greater peace of mind to the customers. But at the same time as comprehensive policies are costlier, very few people so long had opted such policies, but nowadays, people have understood the situation and are preferring comprehensive insurance more.
Comprehensive Insurance for Homeowners @ a Glance –
1. It covers the full cost of damage arising out of theft, fire, vandalism, some water damage (most policies do not cover calamity arising out of flood in order to sell secondary flood insurance to the customers) and any other criminal acts.
2. It covers the house and all its belongings
3. May provide some coverage to the injured family members
4. May cover some items except the vehicle if listed on the original or amended policy
5. It is the most expensive homeowners policy, premium is quite high
Comprehensive Insurance for Automobile @ a Glance –
1. Covers all incidents not typically covered under normal vehicle insurance
2. It provides coverage to personal belongings inside the car during the unfortunate event
3. Covers if the incurs any damage while hitting an animal (though collision but this item is excluded in normal motor insurance)
4. It covers the car from theft, fire, vandalism and flood
5. May cover the glass and paint
6. It is the most expensive car insurance with much higher premium than normal motor insurance.
In recent years comprehensive insurance cost has somewhat reduced in comparison to Third Party, fire and theft insurance policies.