INTERVIEW QUESTIONS INSURANCE HOME INSURANCE DETAILS

Question: Can I include my new furniture, which I purchased recently, to my existing home insurance policy or do I need to wait till the renewal?

Answer: You can include new additions any time to an existing policy. No need to wait till renewal. All you have to do is to give a letter to the insurance company, mentioning the additions to be made and by stating its value. The insurance company will give you an intimation, mentioning the additional insurance to be paid for include the new items till the expiry of the current policy, or in other words, for the remaining time period in the current insurance policy. You will have to pay that amount either as cheque or as cash. On receiving the payment, the company will issue an endorsement policy by including the new items.

The policy along with the endorsement can be renewed together on the expiry date of the original policy. If you directly walk into the insurance company’s branch, the process can be initiated at once and the endorsed insurance will be handed over the counter. You can also initiate an online request, however the process may take around a week’s time.

You can include new additions any time to an existing policy. No need to wait till renewal. All you have to do is to give a letter to the insurance company, mentioning the additions to be made and by stating its value. The insurance company will give you an intimation, mentioning the additional insurance to be paid for include the new items till the expiry of the current policy, or in other words, for the remaining time period in the current insurance policy. You will have to pay that amount either as cheque or as cash. On receiving the payment, the company will issue an endorsement policy by including the new items.

The policy along with the endorsement can be renewed together on the expiry date of the original policy. If you directly walk into the insurance company’s branch, the process can be initiated at once and the endorsed insurance will be handed over the counter. You can also initiate an online request, however the process may take around a week’s time. Source: CoolInterview.com

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