Why should I buy insurance?

    A. It can take years and a great deal of hard work and money to acquire your family’s personal possessions. Where would the money come from to replace your property if it were destroyed? What would you do if a court ordered you to pay thousands of dollars because of damage to someone else’s property or injury caused by you. Insurance protects you against financial loss when these kinds of personal disasters happen. And they happen to people just like you every day.

    How does insurance work?

    A. For an agreed amount (the premium you pay) the insurance company takes on your risk of suffering financial loss. When losses do occur, they are paid out of the total pool of insurance premiums the insurance company has collected from its thousands of customers. In short, the premiums of the many pay the losses of the few.

    How do I know what insurance to buy?

    A. You should insure any valuable property that can be damaged, lost or stolen. You also need to protect yourself against the costs of property damage or injury you may accidentally cause to someone else.

    How much will my insurance cost?

    A. The cost of insurance will vary from company to company, based on their estimates of the number of claims expected and the cost to operate the business. When comparing quotes and coverages, always remember that what you are buying is not the piece of paper that you receive, but the service that you get at the time of a claim. Good service may cost a bit more, but it is well worth it when your claim is settled promptly to your satisfaction. That is where gig shines.

    What do I do when I have a claim?

    A. Contact your broker or company as soon as possible to advise that you have had a loss.

    How can I save money on my insurance?

    A. Increase your deductible. By doing this, you agree to pay a little more of the loss when you have a claim, but your maximum limit of coverage does not change. In exchange for accepting more of the risk on small claims, your premiums are reduced.

    Do I need to tell you if I make significant changes or additions to my property?

    A. Yes. Full disclosure of all details of the risk is needed in order for your insurance to be effective.

    Do I need to tell you if I decide to use my property for commercial purposes?

    A. Yes. Full disclosure of all details is necessary. Additional coverage will be required to handle the additional exposure of a commercial operation.

    What are the different kinds of Insurance for Individuals?

    A. As an individual you can insure your property and other belongings under Fire and Special Perils or Homeowner's Insurance policy and your motor vehicle under Motor Comprehensive or Third Party Insurance policy or your health under Personal Accident / Medical & Surgical Expenses Cover.

    What are the different kinds of Insurance Covers available for Commercial establishments?

    A. As a Commercial establishment you may take out insurance covers in respect of Fire and Special perils, Business Interruption, Liability, Money, Fidelity Guarantee, and Marine Cargo Insurance Policies. These are just some of the Insurance covers available and if you give our customer service executive a call then he will help you in choosing the right insurance policies for your Business.

    What amount should I insure for?

    A. If you are insuring your house and its contents then you should insure for the rebuilding cost of the house and the replacement cost of the contents. If you are insuring your business then you should insure for the replacement cost of your business assets other than stock (which is insured on actual value). As businesses tend to have different needs why don't you give us a call or drop us an email and we will be happy to sit down with you and discuss your insurance and help you to make the right choice.

    Will gig survey the property before providing the insurance?

    A. There is a possibility that we may survey your house or your business establishment prior to submitting our quotation and affecting an insurance cover. The decision to survey will be based on the information provided in the proposal form. This survey is carried out to ensure that you are provided with the right insurance policy at the most competitive terms. During this survey we may make a few suggestions to improve the overall quality of the property to be insured. This will help in minimizing your premium and reducing the chance of a loss.

    How long will it take for the Insurance to be effected?

    A. Your insurance will be affected as soon as you pay the premium quoted and in certain cases fulfill all the requirements mentioned in our quotation. You will receive our confirmation of cover when the insurance is affected. The Policy document will follow in a few days time.

    How will a claim affect my renewal?

    A. In case of a motor claim if the accident is due to your fault and the loss is not recoverable then your No Claim Bonus would be reduced and your premium increase. In case of other claims such as damage to your house or its contents it is not usual for the rates to change. However we may make suggestions to improve certain conditions or take certain steps which could result in minimizing losses in future. If these suggestions are not implemented then there could be an increase in premium.