Monday, March 31, 2008

Should paintings & artefacts be covered under home insurance policy

In 2008 we find pedal cycle being a section in propsal forms of all insurance co's.Paintings and artefacts are appearing nowhere in the proposal form. If somone puts amount of Rs 1 lakh for a painting then the clien /propser is asked to delete this

Insurance co's go on repeating the forms which were relevant in 1950's and 60'sToday when people are having apartments costing Rs 100 lakhs to Rs 500 lakhs it is reasonable to accept that those homes are also having paintings and artefacts worth Rs 5 to 15 lakhs.

It is time for our insurance industry to realise that more money can be made by insuring painting worth Rs 10 lakhs than 8000 pedal cycles of Rs1200 .Let us become an insurance co of 2008 and not follow the forms of 1950.The market has grown.Let us grow.

No comments:

Post a Comment