Q: We have a motor insurance policy through our company. Recently my vehicle met with an accident on the highway. Since my vehicle was not in a condition to be driven, I called my friend and came back to my office and immediately informed the insurer. The insurance company sent their representative to bring the vehicle for repairs. They found that some of the parts were stolen from the vehicle including the tape-recorder. They are refusing to pay the claim for the stolen parts and tape-recorder, but willing to pay for the repair of the vehicle. What is the logic behind the denial of theft claim? A: After a vehicle meets with an accident, it is the duty of the insured to see that it is properly protected and not let it unattended and unlocked. In case of loss, the insured should take all precautions. All motor policies exclude any consequential losses. They also exclude loss due to theft of accessories and parts in case the vehicle is left unattended and unlocked post accident or even in good condition. Your loss unfortunately comes under twin exclusions. However, whatever your loss is due to accident it has to be paid to you as per the terms of your agreement with the insurance company. Q: I saw your Q&A last week and found the question on motor insurance useful. I have come to Saudi Arabia some four months back and recently I received my medical insurance card. It specifies deductible as SR20. I want to know whether I have to pay this amount for each service or for each claim? A: I do understand your confusion. As some of the people are having cards with CCHI coverage which specifies deductible as 20% for each and every service subject to a maximum of SR100 for out patient services. In this case for each service 20% is deducted till it reaches SR100 for single consultation. But your card does not provide you with CCHI coverage and your deductible is fixed. It is not be confused with 20%. You have to pay SR20 at each consultation. This is paid at the time you pay the consultation fee and then you need not pay any money for other services. Also you need not pay at the time of free follow-up. * Shujaath Ahmed Khan, an MBA, General Manager, Creative Associates is also a consultant and an expert in Insurance, Investments and Real Estate. He can be contacted at [email protected], website-www.creativeassociates.blogspot.com __
