Motor Insurance is the most commoditised insurance and easy to buy. With Motor sales, repairs and accessory companies apart from online websites selling motor covers it is easy to buy. The care one needs to take is in selecting the right insurer with vide repair cashless network, easy servicing and a transparent product. There is significant information on the Web to help one purchase or one could just reach out to your trusted broker to make the most suitable purchase for your requirement.
Is It Mandatory
The law mandates that every motor vehicle needs to be insured for a third party claim. This means the cover which will pay for a bodily injury and property damage you cause to others. The Own damage cover which pays repair costs is optional and not required by law.
What Is Zero Depreciation
Standard Motor Policies are guided by conventional rules of the Motor Vehicle Act. It pays for a depreciated cost of part replacements for damages and rest is paid by the car owner. When you buy a nil depreciation cover, it pays the full cost of repairs excepting deductible.
Check Benefits Before Cost
Commoditised as it is, the premium should always be compared keeping the Insured value of the car and type of cover similar between insurers as both effect premium pricing. Even in a nil depreciation cover there are multiple variants at different premiums to choose from.
Art collectors pride themselves with possessions of exquisite value and you want the same to have the best protection available. A general advisor would lack capability to advice you on access to fine art valuation services, advice on security and fire prevention consultancy or help in planning assistance for art collection management services including transportation, storage and conservation leaving any protection inadequate. When you seek help from EDIFY for Fine art and collectible insurance you can expect help on additional services like home repair agencies, appropriate security agencies & other Service providers to find the best insurance before buying the right insurance cover for your precious collections.
Insuring at the Correct Value
Having professional and competent art valuation ensures that you do not risk inadequate coverage protection on your valuable art. What more than having the best, whose valuation will also be acceptable to the insurers providing the insurance for your collections.
Repair, Replacement or Settlement
You need flexible indemnification solutions for your fine art and collections. The best of the indemnity covers provide you with a choice to undertake a repair, seek a replacement for the pair and set or go for an outright settlement of the loss of the collection.
Loss of Market Value Cover
When your collection goes through a partial damage which can be restored or repaired, it may to bring it back to its original glory and uniqueness. Despite the best restoration effort, a loss of market value is inevitable and your insurance should indemnify you for the loss you incur.
Pair and Set Cover
Collections are often bough in pairs and sets. Loss of one of the set pieces or pair can lead to complete loss of value of the art or collection in question. Your insurance should provide an unquestioned cover for pair and set loss with option for total indemnification.
It is not good enough to find the insurer providing you with the indemnity you need. You would like a partner which can help you with vulnerability assessment to reduce the uninsurable wear and tear, cataloguing of collection and transit supervision for safekeeping.
Automatic New Acquisition Cover
Your insurance should recognise your need to keep your collection safe including your new acquisitions from the time you add them to your collection. You can negotiate automatic cover for new collections for ensuring risk free transit and loss indemnity from the word go.
Insurance for classic and vintage cars can cost about 40% less than a traditional auto policy despite having specialised feature covers. The rates are usually less as classic cars are not used for everyday use as a Luxury car would. To buy the most optimal insurance cover a Classic or Vintage car must be kept enclosed in a garage, not used as your daily vehicle, and be in good working condition.
Choice Of Valuation
Classic and Vintage cars are prized assets where the value can change over time. Given this peculiarity of the collection such cars can be insured at an appraisal based agreed value for adequate cover. Most antique specific insurance coverage has the OPCF 19A endorsement.
Breakdown And Laid Up Cover
Specialised cover not only protects you for accidental breakdowns but for laid up risk. This protect your classic car in the event of accidental damage, or fire and theft, including spares and accessories in storage, while your vehicle is off the road being restored, in transit or being exhibited.
Have a Classic protection Cover
Your insurance plan should cover the cost of any original replacement parts and specialised labour, so that your cars remains a classic after repair. Financed vehicle should have a gap insurance to cover the difference between fair market value and what you still owe on the car.
Luxury yacht ownership signals your entrance into an unrivaled lifestyle of luxurious style and comfort. With your desire for carefree living you need a personalized, comprehensive yacht insurance, tailored specifically to your vessel and navigational plans. We know luxury yachts, and more importantly, we know luxury yacht insurance. You would not want any less to protect your significant financial investment. You wouldn’t visit a general practitioner for heart surgery, nor should you trust the liability of your luxury yacht to a general consulting firm.
Choice Of Valuation
You can agree on a fixed insurance sum with you or for a Market value cover with the insurers as per your choice. A fixed value cover reimburses you a cost of equivalent new vessel in the event of total loss which can also go toward replacement of an older yacht also.
Hull, Mast, Rigging & Sails
A Yacht coverage should not restrict itself to a physical damage, liability and war. The best of the covers would include an extension for loss of mast, spars, sails and rigging apart from the boat damage. The covers should not differentiate both two handed or single handed sailing.
Personal Accident Cover
An accident cover for yachts is specialised. It provides coverage for death, temporary total disablement, medical expenses and repatriation from safe port back to country of domicile. Coverage can be provided for single-handed, double-handed or fully crewed racing events.
Tender And Racing Covers
While social racing is an automatic cover, for those times when you want to challenge yourself and your yacht in competition you may include offshore racing options. Insurers automatically cover your tender, including giving a choice of optional covers like observers' and water skiers' cover.
Third Party Liability
A boat insurance provides cover for damages that the owner, guests or crew have caused against a third party while using the vessel. Risk of crew claims against skipper and other crew, emergency services and coverage to damage caused by parties not insured can also be covered.
Buying specialised cover for your yacht is never enough. You can find wider coverage for your yacht including covers for Wreck Removal, Storm and Hurricane Haul Out or damage due to Pollution Spill. When you work with specialists you can afford the best one can buy for their yacht.
There are several insurance covers people buy for various possessions. A car, mobile phones and laptops are readily insured to prevent loss due to accidents and theft. We insure for accidents which are common, forgetting the ones which can cause substantial losses. The homes we built are insured sometimes by banks and other times by societies we live in. The interiors including fixed furniture, wardrobes, kitchen and contents like TVs, Washing Machines, Music systems, Dishwashers, Jewellery are mostly left uninsured at the mercy of the unknown.
The reasons are plentiful, starting from lack of belief that there is a risk to assuming that insurance will cost a lot. Surprising that for most households insuring the house may cost a fraction of the premiums paid for their car. Is it not ironical that we insure a relatively low value car and leave the house we live in without a cover. It is time you called or mailed us to find out how to get insurance for your house and its contents.
Do you Need Purchase Bills
Most of the times Households do not retain bills of purchases, making it difficult to establish ownership of the assets at time of a claim. We can assist you in ensuring that the insurer accepts the ownership declaration on record as a basis for extending insurance for your home.
Insure your Jewellery
Most people do not know that the jewellery you wear and use regularly can also be insured for theft or robbery. The cover is not limited to jewellery, you can insure your mobile assets including expensive phones, cameras, ipads to protect against theft of breakage losses.
Secure Assets against fire
While a fire cover will not pay for damage to the appliances/ switches caused by short circuit, but will pay for all damages caused by a resulting fire. While fire is not common, the premium to insure a crore of property also costs less than rupees five thousand per annum to insure.
Cover for Art & Paintings?
Households invest in Art and Antiques which may be expensive but lacking any damage protection. Depending on the uniqueness, an Artwork can be insured at a valuation one may seek from and own or insurer recognised valuation expert to protect against various damages.
What All Can I Cover
A Household would have building, interior work and woodwork, Furniture and fixtures, Glass, Equipment for recreation, Air conditioners and DG Sets, Mobile equipment, Jewellery or anything else. Everything which is of value can be insured under respective relevant policies.