Be Prepared the Mercantile Way: 7 Things You Need To Know About General Insurance
In disaster-prone countries such as the
Philippines, you can never be too prepared for unforeseen circumstances. With
every unexpected thing that can really set you back, having non-life insurance
is your best solution to rebuild assets that are accidentally destroyed or
affected by natural disasters.
Having your own insurance policy is
important. However, finding the right one for you can be a struggle. To help
you, here are a few things you need to know before getting non-life insurance
in the Philippines:
What
is General Insurance?
General Insurance or Non-life Insurance
helps individuals like you to protect yourself and the things you value such as
your home, car, and other valuables, from risks such as fire, flood, storm,
earthquake, and other natural disasters and accidents.
Why
is it important to have non-life insurance?
The Philippines is a disaster-prone country
and however small the risk may be of all these things happening to you, the
impact on your finances, your lifestyle, and your future can become
unmanageable if you don’t have insurance. Whether you are just a careful
planner or a constant worrier, purchasing an insurance policy for the things
you value most gives you peace of mind.
What
is Risk Assessment and why is it important?
Your assets’ insurability is based on
several factors that comprise how much “risk” you pose to the company. Risk
Assessment is important because it allows assessors to know how likely you will
be involved in an accident or how risky your location is when it comes to
natural disasters. Things such as where you live, where you drive, the risks
you face in your way of living, and susceptibility to natural disasters, among
others, are taken into consideration when determining your rate.
How
much should I shell out for my insurance policy?
The
amount you are going to pay for, also known as insurance premium, is very
affordable in the Philippines. For example, the average cost of a car insurance
policy ranges from Php 15,000 to Php 20,000, and that amount is relatively
small compared to the protection and security you are getting in return.
Instead of seeing it as an added expense, it is important to understand that
you are not just buying insurance for your assets, but, you are buying peace of
mind knowing that you can cover the unexpected expenses when you encounter an
accident because your insurance can help you with it.
How
can I determine if this is the right policy for me?
Not all insurances are equal. In
determining the best one for you, do not say yes to the first insurance company
that will approach you, or else, you may find yourself disappointed with the
possibility of getting limited coverage and subpar quality of service. Instead,
weigh in other options and see if the company will give you the best and the
most reliable service that you want.
Are
there non-life insurance providers in the Philippines?
There are a lot of non-life insurance
companies in the Philippines, one of which is Mercantile Insurance—one of the
country’s pioneers in providing non-life insurance with decades of long-term
stability and responsible growth in the industry. Serving Filipinos since 1962,
Mercantile Insurance is a credible and reliable partner that delivers superior
insurance services. The company has been a long-standing partner of companies
such as BDO Insurance Brokers, Penta Insurance Broker Services Inc., Benpres
Insurance Agency Inc., and Lacson & Lacson Insurance Brokers Inc., among
others including direct individual clients.
Aside
from my house and my car, what other valuables can I insure?
Apart from your hard-earned assets, you can
also insure something as important as your business and other tools of the
trade. General Insurance companies like Mercantile Insurance have a full range
of non-life insurance products and offerings, including Fire and Allied Perils,
Engineering Insurance, Miscellaneous Casualty, Marine Cargo, Inland Marine,
Marine Hull, Aviation, Personal Accident, Travel Insurance and all kinds of
Bonds. Being a trusted name in the industry, Mercantile is known to provide
quality insurance solutions like no other that are designed to suit your
current and future needs at competitive prices.
Don’t turn a blind eye on the importance of
non-life insurance. It’s the protection you, your assets, and your family
needs. A small amount can go a long way, especially when faced with unforeseen
incidents. You can visit http://www.mic.com.ph and work with the
perfect insurer that can provide your needs even on a budget. Or, if you
already have an existing insurance agent or broker, make sure to tell him to
get your non-life insurance policy from Mercantile Insurance so you will always
have peace of mind when the unexpected arises.
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