Insurance brings peace of mind to protect yourself or your valuable assets from any unforeseen hazards. It ensures a financial cover in case any loss occurs and thus relieves you of monetary burden in such circumstances against an annual fee that you pay as your premium.
In recent days, tensions between Pakistan and India have escalated to such heights that there has been unprovoked firing across the Line of Control due to which many nearby civilian areas have also been affected and there have been causalities as well. With the risk of war looming around, it’s always a good idea to have insurance cover. In this article we will pinpoint some of the key types of insurance one must avail for sure while living in such sensitive areas of the country.
Life & Health Insurance:
It’s widely said that “Health is Wealth” and this is surely said for all the right reasons. A person can only perform and manage his daily workflow only if he is well and fit enough to do so. Staying health is one of the most aspects of one’s life. The organization where you work might have already offered you health insurance as a benefit but the covers associated with health insurance are only for the cost of treatments of any ailments or injuries etc. hence you should preferably get life insurance to counter the omnipresent threat of terrorism hence in the unfortunate scenario of death or major disability, your family gets financial support to continue their everyday life without being interrupted abruptly. Ideally you should buy a cover that provides you around 5 to 10 times of your annual income in monetary compensation and if you have any loans or liabilities then it should be around 15 to 20 times to provide enough timeframe for your dependents or next of kin to cope up and become stable.
Next in the line of assets in terms of value is usually one’s property. You should get insurance cover for your property be it for business purpose or residential. It protects damage to property and personal possessions in the case of terrorism and incidents of explosions or fire etc. Choose a policy that covers these incidents under terrorism to ensure adequate compensation.
Going forward, let’s talk about cars. Usually these are the most valuable assets after property and should be insured. For those people who live in such areas where terrorist activity is imminent, it’s advised that they opt for comprehensive car insurance instead of just third-party insurance to make sure that their car is safe from risk of fire, damage, arson, terrorist attacks etc. And in case of total loss you’d be reimbursed as per the depreciation and current market value. We’ve our car insurance portal where you can get real time quotations for your new or used car and compare different policies and buy an auto insurance plan online too!
Lastly we should also mention that these policies do not cover biological, chemical or nuclear attacks. However it’s still encouraged that you opt for the above mentioned insurance plans to minimize the loss of money and property as well as get some compensation against loss of life or disability even though there’s no true replacement of life. Also buying insurance policies for property is a really sane idea because in case your area needs to be evacuated for any military operation, chances are that your property will sustain damage. Government is supposed to compensate people for any losses occurred but as the situation prevails in Pakistan expecting anything from the government within due time would be equal to blowing a trumpet in front of a buffalo. Thus you should consider taking matters in your own hands and ensure that you and your loved ones have a safety cover in case the worst happens though here’s hoping that such a time never befalls upon us however the wise man said that “Prevention is better than cure” and that says it all!