Sum insured. Definition, types

When we are offered to insure ourselves, ourlife or property from all troubles and troubles, we somehow do not think, answering: "What can happen to me something?". However, as practice shows, much can happen: an accident, an earthquake, an industrial trauma, can be enumerated indefinitely. Today mass insurance contracts are concluded only on cars, and that because such insurance is obligatory.

By signing a contract with an insurance company,a natural person, in the event of an insured event, is entitled to receive monetary compensation. Otherwise it is called an insurance sum. However, no matter how obvious the occurrence of the insured event was, most companies are trying in every possible way to avoid compensation payments to the victim. For example, referring to the fact that there are no necessary documents, or they are incorrectly compiled and filled. Therefore, in order to prove its right to receive insurance, it is always necessary to have a list of necessary documents for this, and in case of which to fix the smallest details of the incident. If this is an accident, then it is necessary to draw up a protocol strictly according to the rules and to ensure that the inspector of the SAI has filled all documents with accuracy to the letter. If an accident occurs, it is best to confirm this fact not only documentarily, but with photos and video, the benefit that now cameras are built in even the most "ancient" mobile phones, and this device is everyone's. It is also important to comply with all terms of application, payment of receipts, etc. The necessary documents must be photocopied in several copies, one of which must be given to the insurance company under a receipt. And, most importantly, do not rush to repair until the entire insurance amount is paid.

If the reason for recovery from the company compensationis an accident due to harm to health or death, then a medical report and examination is necessary. Without these documents, the insurance amount will hardly be paid. If you refused to pay compensation in the firm, you must necessarily ask for a refusal in writing. In the future, this can greatly facilitate your life. After all, it can turn out that it will come to court, and there each paper has its own weight.

It is important to know that there is an insurance sum of twomain types: aggregate and non-aggregate. In general, there are many varieties of the sum insured. So, for example, it can differ by object of insurance or by event, it can be decreasing or increasing, floating or standard, etc. What is their difference? To navigate in these concepts, it is enough to remember that the aggregate insurance sum is decrementable. A non-aggregate is non-reducible.

When concluding a contract, it is important to pay attention toon what amount is indicated in it. If the contract is concluded on the condition that the insurance payment is called non-aggregate, it means that even if several insured events occur within a year, the company will be obliged to make payments several times, the amount of which will not decrease. In the case of an aggregate insurance amount, its amount will decrease during the year in each subsequent insured event by the amount of the previous one. In this plan it is necessary to count on the possible number of insurance cases, since the conclusion of a contract in which a non-aggregate insurance sum is prescribed will cost an average of 5-10% more expensive, but such a contract gives a guarantee that at one fine moment for the consequences of an accident will have to pay in cash out of their own pocket. In any case, the client of the insurance company always has a choice which contract to conclude, and to impose their conditions the insurance agent has no right.

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