A: Worldover insurance brokerage houses are large, sometimes even larger than the insurance companies themselves. They provide reinsurance to insurance companies. In many markets, brokers provide non-life insurance as well as group life and group mortgage insurance.
In countries like Japan, the broker is not empowered to conclude contracts, accept representations, and to receive insurance premiums.
In such cases minimum capital requirements and solvency margins are not needed.
In general an insurance broker would provide the following services:
. Pre sales and after sales service to the customers.
. Provisions of relevant information to the underwriters to assess the risk and decide the premium.
. Design covers that meet the client requirements.
. Recommend risk improvement and loss minimisation measures
. Provide risk management and insurance education
. Collection of Premiums

A: Type of Construction: Frame houses usually cost more to insure than brick.
Age of House: New homes may qualify for discounts. Some insurance companies offer limited coverage or may not insure older homes.
Local Fire Protection: The number of fire hydrants and fire departments and the availability of water are just some factors which determine your area's fire protection class. If you reside in an area without fire protection, you will pay more for fire insurance.

A: The deductible applies only to coverage's on your house and personal property. It is the amount you have to pay out of your pocket on each claim. Insurance only attaches once the deductible amount is exceeded. A policy with Rs100 deductible will cost more than one with a Rs250 deductible. Higher deductibles may be available at a reduced price, but purchasing, for example, a Rs.250 deductible in lieu of a Rs.100 deductible will mean you will normally pay Rs.150 more out of your pocket at the time of a loss.

A: Property damage coverage helps pay for damage to your home and personal property caused by such perils as fire, lightning, windstorm or hail. The perils of flood and earthquake are not covered.

A: In general, the contents of your home and other personal belongings owned by you or family members who live with you will be covered under the policy in an amount equal to 50% of the limit of liability carried on your dwelling. However, high valued personal property such as jewelry and cameras should be scheduled on the policy so that you are adequately protected to avoid the possibility of these items not being fully covered at the time of loss.

A: Most home insurance policies provide for the necessary increase in expenses you incur if your home is damaged by an insured event and you cannot live there while repairs are being made or if you are denied access to your home by government order. The coverage is generally subject to duration limits and commonly covers any expense incurred by you so that your household can maintain its normal standard of living. In some instances, this coverage may include the costs of a motel, eating in a restaurant, or storing some of your property.

A: Personal Liability Coverage protects you and all family members who live with you against a claim or lawsuit resulting from (non-auto and non-business) bodily injury or property damage to others and for which you become legally obligated to pay. Defense costs are included, but the insurance company has no duty to defend you after the limit of liability on the policy has been exhausted.

A: No. In most cases, once an insurer reviews your loss history and finds none, one claim should not affect your rates. If the claim exposes some greater risk on your property, however, such as owning a trampoline or new swimming pool, then you may face a rate increase