6 Tips that will get you Insured

There are many tips that will help you get insured easily. These are usually the characteristics or properties associated with you and your things that the insurance company will look at and accept you. They are:
1 Defined Loss: If the loss you want to insure is a definite loss, one that is sure to happen, then you can qualify. This is the loss that can take place a t a known time, known place and from known cause or source. Example is death of an insured person on a life insurance policy, fire, automobile accidents, and worker injuries all easily meet this criterion. But these types of losses may only be definite in theory like occupational disease, for instance, may involve prolonged exposure to injurious conditions where no specific time, place or cause is identifiable
2 Affordability: If the cost of insuring your house or property or any her thing is too high then you might not be insured. The cost need to be reasonable. Not too low and not too high but especially not too high so that the insurance company can pay when the time comes. So the premium shouldn’t be expensive.
3 Similarity: there should be similarity in the exposure or risk that seeks to be insured. That is your risk should be lik what obtains else, your own should not be too different from others. Since insurance operates through pooling resources, the majority of insurance policies are provided for individual members of large classes, allowing insurers to benefit from the law of large numbers in which predicted losses are similar to the actual losses
4 Accident:Of course this is obvious. Remember when we were discussed insurance, we said that insurance is used to guard against the risk of an uncertain, sudden and unpreventable loss. (check older articles).This simply means that its used to guard against accident. So your loss should be an accident for it to qualify. The event should be fortuitous, or at least outside the control of the beneficiary of the insurance.
5 Calculated: Your loss shouldn’t only be accidental loss to qualify but it must also be a calculable loss. At least these two elements should be quantifiable and at least estimable: the probability of loss, and the attendant cost. An indeterminate loss does not constitute as a trigger for an insurance claim.
6 Large payment: This simply means that the size of the loss should be large to merit a big payout. So that you shouldn't run to the company when you’ve lost your pen or your singlet was stolen. Insurance premiums need to cover both the expected cost of losses, the cost of issuing and administering the policy, adjusting losses, and supplying the capital needed to reasonably assure that the insurer will be able to pay claims.