Today, Bhargav Dasgupta, MD & CEO, ICICI Lombard General Insurance, answers your questionsI live in a building that is 20 years old. The society wants to buy an insurance policy for the building. What would be the cost of doing so and what all will be insured?Your society can purchase a fire insurance policy which covers the structure of the building, including the plinth and foundation, as well as structures such as boundary wall, stair cases, parking area and so on. It will also provide cover against damage to common utilities, that is, lift, water pumps, diesel generator sets and so on. Your society can also opt for add-ons to cover natural calamities like earthquake or acts of terrorism. The quantum of premium would depend on the cover opted for. Do note that the contents of individual flats and their interiors will not be covered under this policy and a a separate insurance cover needs to be purchased by individual flat owners for this.I have taken a 20-year home loan. I have

General Insurance: Bhargav Dasgupta

Business Standard

When the management of a club changes, can the new management change the terms and conditions to the detriment of existing members? Or, can the new management deprive the members of any facilities? In a recent ruling, having far-reaching impact, the Maharashtra State Commission has held that a member cannot be deprived of the privileges and benefits to which he is entitled under an existing membership.Bay City Welfare Society comprised those who were members of Bay City Resorts Private Limited. The resort had a swimming club membership for its pool at Bandra. Members had been enrolled on payment of a non-refundable deposit and entry fee, and were entitled to use the swimming pool on payment of membership fee, collected in advance.Bay Resorts was taken over by Shaila Club & Resort Private Limited through an auction. So, the liability towards the swimming club members passed to Shaila Club, which in turn entrusted the day to day management to Savannah Life Style Private Limited (also

New club management can't deny member benefits

Those in the lower age brackets could do away with traditional plans and hold Ulips. Or, convert all investment plans into a paid-up one

Looking to phase out insurance plans?

A passive investor can raise allocation or sell their holding according to price-to-earning movements

Strategy for the index investor

With the Union Budget over, it is a good time to start the rebalancing exercise. Take cues from last year's market performance

Rebalance your equity portfolio, handle debt with care

The tax department allows you to revise returns for mistakes, but there are strict conditions attached

Errors to avoid when filing returns

Though the bank will set a credit limit, first-time users should set a lower target

Credit cards: Keep tabs on your spending

In the absence of such products, create your own safety nets for health care spends in future

Case for deferred health insurance

If the Finance Minister can adjust a few deductions with the inflation rate, the consuming class should be reasonably happy

Budget 2014-15: Don't expect too much

Business Standard analyses one family's finances and suggests a way forward

Case study

Budget: Rs 50 lakh to Rs 1 croreBusiness Standard brings you a snapshot of average current rates and unit sizes in localities that offer property in a price range of Rs 50 lakh to Rs 1 crore. If you are looking at buying real estate and your budget falls within this range, an idea about prevailing rates would come in handy

Realty check

Today, Mohan Jayaraman, managing director, Experian Credit Information Company of India & country manager of Experian India, answers your questionsI have three loans to pay off a home  loan, a car  loan and a credit card loan. I want to start lowering the dues. Where should I start from?Credit profile evaluation considers minimal unsecured loans to be a more significant indicator of credit discipline. While home loans and car loans have underlying assets as collateral, credit card dues are predominantly due to lifestyle and operational expenses. Non-repayment of credit card dues for more than a month indicate some imbalance between inflows and expenses of an individual, in this case, you. Hence among the three, repayment of credit card loans should be first on your priority list.Considering home loans have a much larger repayment tenure as compared to car loans, full repayment of car loan should be given preference next, as opposed to part payment of a home loan. Additionally, ther

Banking: Mohan Jayaraman

Even if the Budget delivers, there are chances that the market may fall

Betting too high on Budget

The stipulation to lodge a claim within 30 days of discharge is not mandatory but to facilitate expeditious settlement

Health policy claim can't be rejected for delay in lodging

Voting on companies' resolutions will no longer be restricted to a handful of investors or promoters

E-voting will democratise shareholder participation

With telecom companies raising their data cost, a little diligence will help restrict bills

Tips to trim your telephone bill

There could be a big bounce in the third or fourth quarter of this financial year, which would boost the indices

Time to bet on a recovery in bank stocks

Ban on pre-payment penalty applicable only on floating rate loans such as auto or personal loan

Overdraft will attract foreclosure charges

While this might reduce your spending capacity for some time, it could prevent your credit score from falling

Is EMI on credit card helpful?

If you haven't saved enough, there are some interesting options, cheaper than personal loans, if you can avoid some mistakes

How to raise the downpayment for a house

Many direct taxation rules lack clarity and the rulings on these also differ from case to case

Page 52 - Investment