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Motor insurance policies cover intentional damage

india Updated: Jan 20, 2012 20:55 IST
Hindustan Times
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My dad retired on December 31. He will get a health cover of `1.5 lakh under a bank’s scheme. This cover also includes my mother. However, I don’t think the cover is adequate. What should he do? -Sagar

You are right, a cover of Rs 1.5 lakh is inadequate keeping in mind the zooming medical cost. Your parents should have a minimum cover of Rs 5 lakh each. Since insurers are reluctant to increase the sum insured of policies covering persons of higher age, it is best to take the maximum amount that you can afford right now.

Health insurance policies of all insurers allow entry up to the age of 65 years, hence getting a cover for them will not be difficult. Insurers will ask for health test reports. Any diseases indicated in the reports will not be covered, but if no treatment is taken for these diseases for four years after taking the policy, these diseases will also be covered.

My daughter is going abroad for studies. The university is providing a very expensive health plan. Is there a cheaper alternative? -V. Das

Health insurance provided by universities is very expensive, especially compared to the cost of health insurance in India. Indian insurers provide health insurance policies for students going abroad. These policies cover hospitalisation, death or disability in an accident, travel cost of parents if the student is hospitalised for at least seven days, student’s travel cost if a parent is hospitalised, reimbursement of fees if the student has to abandon an academic year due to death or illness of a parent due to which he/she has to return to India and sports injuries, among others.

It should be noted that insurance provided by universities provides cashless treatment at local university dispensaries and hospitals, while in case of insurance taken from Indian companies, the cost has to be incurred and then reimbursement sought.

Will a motor insurer pay for damages if a third person intentionally damages my car but I have no proof of the same? - Prateek

Motor insurance policies are quite comprehensive and cover malicious damage. You do not need to have proof but there should be a police complaint against the suspect. Your insurance will pay for the expenses incurred for your car repair.

The views expressed are of Rahul Aggarwal, director, Optima Insurance Brokers.