Are You Really Missing Something From Insurance Ventures?

Author : lethamcmullen
Publish Date : 2021-05-25


Are You Really Missing Something From Insurance Ventures?

Why is it important to compare insurance deals and insurance companies? What is the harm in relying on the tall claims made by service providers? Insurers are in the business of offering insurance not for charity but for earning a profit. There is no need for them to always speak the truth with their customers. What is more, they can easily hide the truth without actually telling a lie. The onus is upon the buyer of insurance policies to uncover these tricks. You should do this not out of any personal malice but because where you are entitled to the best and the cheapest insurance deal possible. This is the reason why one should compare insurance service providers before taking a final decision

If you have a computer and a net connection at home, then you should log on to the web for help and support in comparing companies offering insurance coverage. The web is one of the most wonderful sources of information as far as insurance is concerned. All you have to do is type the right key word into any reputed search engine and you will be shown millions and millions of web sites that contain the information you want.

If you want to identify the best insurance company from these millions of service providers available online and if you want to identify the best deal, then search engines will not be of much help. Instead, you should opt for those websites that will give you a well compiled analysis of the cost of obtaining insurance from various companies. This is what is called an insurance quote. The quote will contain information on the premium costs of the policies of different service providers. You can compare the cost and the level of benefits provided to take the final decision.

You should opt for sites that do not insist on submission of personal and confidential financial information. Quotes are available online for free. They are available without any obligations whatsoever. Avoid choosing any site that demands payment or any other obligations in exchange of the quote. Why pay when you can get the quote for free?

It is not sufficient to search only for affordable insurance quotes on the World Wide Web. What is the point of searching for quotes if they are not reliable? The basic idea of insurance quotes is to get a realistic estimate of the cost of the policy. If you do not make any changes to the terms and conditions of the policy and opt for the policy on the basis of the details submitted to the website, chances are very high that you will not pay anything more than the amount specified in the quote.

Hence, it is your duty to make sure that you are dealing with a web site that provides legitimate quotes. It does not matter which type of insurance you are opting for. Whether you opt for car insurance or life insurance is irrelevant. What matters is that you should get an accurate quote so that you can plan properly. The consequences of an inaccurate quote are listed below.

- All efforts that you put into getting the insurance quote from the World Wide Web would go waste. You will be required to redo the entire process and find quotes all over again. If you rely on unreliable quotes, chances are high that you will end up paying more than what you were originally told.

- Normally, quotes web sites do not seek personal and private information of the individual. The Social Security Number is an optional submission. The individual may choose not to submit the same before choosing the right deal. However, illegal websites that claim to offer quotes may insist on submission of bank details and other such private and confidential information. The information can be sold or misused and can create a lot of trouble for you. The site may also sell your e-mail address to those who see send spam.

If you want to find a site that offers accurate quotes, you should focus on sites that work in partnership with reputed insurance providers. Avoid those sites that do not have a tie up with at least two or three top rated insurance providers.

It was 6.00 pm evening, I was at the Chi at Lounge sipping couple of Beers listening to chill out tracks before the night is yet to begin. I heard an angry man, shouting on his blackberry to a Customer Service Representative of some ABC Insurance company for not approving his claims. As a true Professional from Insurance Co., I was wondering what went wrong...I waited for the gentleman to cool down. He was frustrated, but yet approached to the bar tender for a glass of Martini.

I joined him and asked about his profession. He worked as an Architect with Dubai's Biggest Developer. Building a conversation, I realized he owned a Yacht which was wretched by the captain couple of days back. And he is being fighting with an Insurance Company to recover his claim for the damage.

Surprisingly, the Yacht was Insured ...but then why so many hassles?

When any company sells its Product or Services, It will sell it at its own Interest and not at Buyer's Interest. Whether it's a Fruit Vendor, Bank, Airline Co. or Insurance Co., profit maximization, loss reduction & increase customer base are 3 basic objectives that they are looking for. Insurance Documentation & Policies are so complex, that even we have time we would love to read gossip columns than over viewing your policy document. So we never know what we are actually missing in Policy Documents. What we are suggested verbally are never found in our policies when we actually apply for claims. So what? Do we blame the Sales Agent? Or do we say Insurance Company is cheating you? Or is your own Mistake for not reading the Policy before accepting it?

I guess it's not anyone's fault. Everybody is right at its own place. But Insurance Company could have helped you in terms of coverage but then why would they do? There are around 50 Insurance companies in UAE each one at its Best but none will assist you right in terms of Claims. Why would any company focus on making losses for themselves? I guess not even you...

As a Market Observer from Insurance Background, Insurance Service Providers have seriously hit by Recession. All they could do is to squeeze you in policy documents and charge you competitive premiums. You would be happy to save few hundreds for your evening buffets or couple of drinks at the Bar. But losing huge thousands at the damages like the Architect I met could be much more frustrating than what you saved. Business Is Business everybody wants to make profit, so do your Insurance Company. So why blame it?

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Blame yourself for compromising with your premiums.

Blame yourself for not reading your policy documents carefully.



Category :insurance

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