Courts launches new insurance plans
From the cradle to the grave and even beyond
October 19, 2002
Courts, the home appliances and furniture store is now providing insurance products on credit terms.
The packages under the trademark `CourtsCover’ were launched on Thursday at the Hotel Tower. They include the Home Contents Cover Plan, Home Building Insurance, Motor Insurance Plan, Hospital Cash Plan, Personal Accident Plan and a Pre-Paid Funeral Plan.
The insurance plans can be paid for over periods up to three years and if the shopper wants to pay cash.
Either way, he asserted that Courts has the lowest prices in the marketplace.
The insurance products were designed in collaboration with Hand In Hand Insurance and CLICO Life and General Insurance Company. Courts Managing Director David Burgess said Courts Cover offers, six “clear, easy and safe insurance plans that can offer financial and other security for the individual and family through life... and even when you die.”
On offer is a Funeral Plan with a $200,000 payout for only $168 a week, which could afford everyone in the country a decent burial, he said.
In the Pre-Paid Funeral Plan, insured by Hand In Hand, the sum is doubled if death is by accident and up to a $100,000 advance payment to assist with wake and funeral arrangements.
Under the Home Contents Cover Plan, insured by Hand In Hand, all contents are covered, no inspections are required for amounts under $1 million, emergency payments are disbursed up to 20% of the value, and there is full settlement within 21 days.
For the Home Building Insurance, insured by Hand In Hand, no survey is required for properties less than $4 million, inspection is done in 48 hours, claims are settled within 21 days and coverage starts from $59 per week.
In the Motor Insurance Plan, insured by CLICO, there are six types of third party insurance, a variety of comprehensive policies and coverage from $131 per week. The Hospital Cash Plan guarantees income of up to $12,000 each day spent in the hospital and coverage begins from $43 per week. Insurance is with Hand In Hand.
In the Personal Accident Plan, payments for medical expenses are made within 48 hours; a lump sum for medical expenses with a cash payment up to $750,000 is offered; there is 24-hour protection whether at work or play anywhere in the world and coverage begins at $34 per week.
Burgess said offering the insurance service took Courts months of planning and detailed accounting to come up with the plans, which offer insurance at the lowest price in the marketplace and on credit.
Courts employees have received training on the products and are now prepared to treat inquiries with the confidentiality and respect they deserve, he added.