I have covered my family under a family floater plan — including myself, my parents and my elder sister. However, she is getting married by the end of this year. Will the policy continue to cover her when this happens? Can the policy be split?
Normally, family floater policies provide coverage for dependent family members only. They cannot be split. It is advisable to take a separate insurance cover for your sister upon her marriage and opt out of a floater policy.
I own two adjacent apartments. Is it possible to get a single cover for both houses? I have taken a home loan to purchase these; is it possible for this loan to be also covered?
The two can be covered under a home insurance policy. If the adjacent apartment is made as one, with a single point of entry, then a single policy can be taken for the structure by mentioning both the flat numbers on the policy; a single policy for the contents can also be taken. If both apartments, though adjacent, are separate entities with separate entrances, then a separate policy should be taken for each.
Regarding coverage of the home loan, there are insurance policies which provide this, known as a credit shield cover or home loan protection plan.
I am planning to buy a car next month. Will the electronic items, such as a mini-television and a music system, get covered?
Generally, such electronic items can be covered as electrical/electronic accessories in the standard automobile insurance policy, at an additional premium.
The writer is the CEO of Tata AIG General Insurance.
Today, Tata AIG General Insurance CEO K K Mishra answers your questions
