Health Insurance in Pakistan
How Does Changing Insurer Affect The Premium While Renewing
Posted by Admin on 02 Jun 2022
With a rise in awareness, many people are buying insurance for cars, travel, and health. This is a sign of great consciousness as it has shown to statistically lower the concerns related to issues revolving around these products. Insurance has significantly lowered the anxiety in people as having insurance takes the financial burden off your shoulders. This helps you focus only on the speedy recovery of your health, vehicle, or any other issues occurring during your travel. There is a certain amount of stress that comes with every matter in life and there is a similar case with the insurance industry. The problem is caused by unanswered questions that might linger in one’s head more than they should. So, here we are to solve some mysteries around insurance and to clear one misconception at a time. Time to debunk!Many regular clients believe that loyalty always pays off when it comes to insurance. This is true to some extent considering that you might get bonuses and the company might prioritize you over other clients. This highly differs from insurer to insurer.What Will Happen If I Change My Insurer?Nothing really! If you change your insurer it might only affect the premium and not the coverage. Sometimes, you even find better cover for a lesser premium. Let’s say, you are traveling for two years on an annual trip plan, and you are insured by a company for 27,000 PKR, and Covid is not covered. On the other hand, you compare with another insurer and your premium is 15,000 PKR with the covid cover. So naturally, it is wise to go for an insurer offering a lower premium with adequate coverage on your travel insurance from Pakistan. Sometimes insurers provide you with an option for covid cover but oftentimes when you add it to the premium the cost automatically increases up to an expensive insurer. So it is better to purchase the policy that already covers covid within the same premium. Is It Worth It To Change The Insurer?It is natural to feel like you are betraying an old friend when you try to change your age-old insurer. But sometimes, it is only wise to let go if you are gaining more or equal benefits in a lower premium offered by a different insurer. However, it is up to you to decide if you still want to keep the same insurer.Will My Services Be Compromised If I Change The Insurer To A Cheaper One?Services are why we get insurance in the first place. If an insurer is risking your safety to gather clients, take it as a red flag. It is always alright to change your insurer but make sure to ask an educated person in the field to give you a walkthrough of what services will be offered and if you are adequately covered. You can also download a PDF that states all the terms and services and thoroughly go through the document. In most cases, the services won’t be compromised. If anything, you might get a better cover than before at a lower premium. For every insurance policy you purchase, it is not given that more premium means you get more cover and lower premium dictates lesser advantages. So, always try going for money-saving options that provide appropriate cover. Let’s Compare is an online insurance comparison platform where you can compare and buy insurance policies from the insurer of your choice. We offer insurance quotes from leading and trusted companies in Pakistan. We take great pride in reassuring our clients and winning their trust. We offer the best insurance service along with advice. Go to our website now and make yourself insured and secured.