The standard comprehensive Motor policy covers loss or damage to the insured vehicle due to theft or accidental collision and legal liability for death or injury to third parties and damage to third party property arising out of the use of the vehicle. In addition, one can extend the policy to cover damage by certain specified perils, e.g. strike, riot, civil commotion, windstorm, flood, etc. but with additional premium charged. This means if you want flood or windstorm cover, you must request for it, and if granted, you need to pay additional premium. Usually, those who ask for such extension are ones who sees or anticipates the risk. Hence, the additional premium of 15% loading, is quite steep, justifying the selection against insurer. Previous calls to have Flood and Windstorm damage included as standard cover failed to receive support as it was felt the many should not be burdened with a problem faced by a few. Perhaps now, jn the aftermath of a near catastrophe, we shld face the issue again with a different view, ie with a spirit of brotherhood, solidarity and mutual help. If everyone chips into a pool, then each wld not hv to contribute much; the many pooling to help the unfortunate few.
Posted on: Tue, 30 Dec 2014 03:55:41 +0000
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