Loss, more than anything else, opens our eyes to the need of insurance. It was the Mumbai attacks that shows the need of a terror attack insurance as well.All though almost all of us have insurance policies, but it is important that we check our policies once again for an insurance against terror attacks. Here is a look at some major insurance covers and what we should look at while taking the cover:
Life Insurance
While most basic life insurances do not exclude death due to terror attacks, you should specifically check with the insurer and READ THE POLICY DOCUMENTS to be sure about the same. Additional riders such as hospitilization, critical illness etc. do not include loss of life due to war or terrorism.
Health Cover
Again READ THE POLICY DOCUMENT. Most policies cover you only after 24 hours of Hospitilization. It remains to the description of the insurer in case you are released with in 24 hours after getting treatment for the injuries during an act of terrorism.
Householder Insurance
Basic householder's insurance doesn't cover your house structure against an terror attack. However, such a cover might be available at an extra cost.
Auto Insurance
Auto insurance policies do not cover your vehicle against a damage in case of riots, war situation, terrorist attacks etc.
Stand-alone Terrorism Policy
Such Policies protect you against terror attacks specifically. Optima Insurance is offering such insurance cover of New India Assurance through its web site http://www.click2insure.in/.
[source: Money life]
