General Overview of Siddhartha Insurance Limited - Best Insurance Companies in Nepal

Insurance companies in Nepal are available in abundance. But, what separates them from one to another? One may think it is only ratings that separate insurance companies. But you also need a sense of trust from Nepali insurance companies.
Insurance is an important part of an urban citizen's life in Nepal. Mostly in the main cities since accidents are prone to happen. You can never be too sure or too safe with the matter of your well-being.

The General Scene of Insurance Companies in Nepal

Insurance companies in Nepal are mostly about the Health sector only of course, because of various reasons that are given below. There are only a few insurance companies in Nepal that give a range of insurance plans.
The insurance system in Nepal is known for its wide network of health facilities and community workers/volunteers. Also, Nepal's Interim Constitution of 2007 addresses health as a fundamental right. Which says that every citizen has the right to basic health services free of cost. 
But, let's be real, that's not true at all looking at the current scenario of Nepal. The statistics say that only about 60% of Nepalese households have access to health facilities within 30 minutes. That is a dreadful number. 
The Government of Nepal formed a Social Health Security Development Committee as a legal framework to start implementing a social health security scheme (SHS) after the National Health Insurance Policy came out in 2013.

Choosing an Insurance Company

When choosing your insurance company, there are several factors that you should consider to help you make a wise decision. You may not have someone to guide you through it, so here are some points that'll help you make that decision. Keep in mind, you don't have to tick all the boxes to know that the company is great. 
Here are some points you'll want to know about the company before you buy an Insurance plan from them: 
  • What is the quality rating of the insurance company, as published by the main rating agencies in comparison with their peers? 
  • Paying ability, financial strength, assets, etc… 
  • Is the insurer a specialist in this area of insurance coverage? 
  • Is it easy to speak to a "live" person and will you be working with the same person (agent)? 
  • Will it provide insurance coverage that is adequate for your needs? 
  • Is its policy premium cost-effective when compared to similar insurance companies? 
  • What are the deductibles? 
  • What is the claim paying process? 
  • Does the insurer give family discounts on premiums for multiple policies? 
  • If proximity is an issue for you, is there a local office nearby? 
  • Consider the company's record for claim refusal. Your state insurance commission may have a record of complaints 
An Insurance company shall be trustworthy and has to be new enough to have good offers, but also old enough to be completely trustworthy. So you want a mid-aged company that is also reputable, with a high reach and is trustworthy.

Which Company To Choose?

To choose a company, we'll be referring to the reasons listed above. 
One amazing company about all the reasons is Siddhartha Insurance Limited. Siddhartha Insurance provides you a huge choice of:

Siddhartha Insurance Limited (SIL) is one of the fastest growing insurance companies in Nepal with a strong presence in the form of 60 Branches & headquartered at Siddhartha Insurance Bhawan, Babarmahal, Kathmandu.
Siddhartha Insurance Limited were established in 2006. And today, it is one of the most financially stable and reliably managed organization. 
Siddhartha Insurances' Team (Courtesy: Siddhartha Insurance)
Siddhartha Insurances' Team (Courtesy: Siddhartha Insurance) 
The company practices true customer-focused service through its quality products, underwriting all types of risks in General and Health Insurance, often going that extra mile to tailor-make special covers based on specific customer needs. SIL provides a complete range of insurance solutions from Fire, Marine, Motor, Engineering, Aviation, Micro, Mediheath, Travellers Mediclaim Policy, Miscellaneous Accident Risk, to cover for medium to large industrial, commercial enterprises as well as Individuals.
You can find more information about Siddhartha Insurance Limited on their official website, along with an online form you can fill for all types of insurance policies.