What is Co-insurance Clause in Property Insurance?

Co-insurance is an important clause in office insurance policy which is defined as the ‘sharing of risk’ between multiple insurance companies. Usually, one insurance company lead the policy document, and that insurer would be responsible for different aspects of the policy document, including the claim. In such a case, the insurance company will levy a […]

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What is an All-Risk Property Insurance Policy?

An all-risk property insurance policy means that the policy will cover everything, expect the perils which are clearly listed under the exclusion head. It means, if something is not specifically excluded from the all-risk property insurance policy, it would be covered by the insurer. Often known as a comprehensive insurance policy, an all-risk property insurance […]

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What are the most important features of an umbrella insurance policy?

An umbrella insurance policy is a type of an extra liability insurance used by many businesses. This insurance is crafted to protect the insured against significant claims and lawsuits and ultimately helps to protect the insured’s assets and the business future. An umbrella insurance policy provides the following coverage: Injuries Personal liability situations Damage to […]

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What are Some Items Typically Excluded From Property Insurance Policy?

  A property insurance is an umbrella term which comprises of various insurance policies like office insurance, construction all risk policy, engineering all risk policy, factory & warehouse insurance, motor fleet insurance and art insurance, etc. Though, the purpose of a property insurance is to offer complete coverage against various natural and man-made perils like […]

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Why Should We Buy Property Insurance?

The most important reason to purchase property insurance is the uncertainty of future. You can’t predict what would happen in the next moment, and therefore, to get complete coverage against the life’s uncertainty, it is essential to buy a property insurance policy. A property insurance policy is an umbrella policy which includes office insurance, factory […]

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What is the Definition of Commercial Property Insurance?

As the term itself says, a commercial property insurance policy helps people in business by covering their commercial property, against a myraid of losses or damages. In most of the cases, a commercial property insurance policy offers coverage for standard fire & special perils and burglary. As the cases of burglary in business premises are […]

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What is Errors and Omissions Insurance in Real Estate?

As a real estate professional or a broker involved in the property market, you may be committed to your clients. However, what if you advise your client to invest in a particular property deal which turns out to be wrong? You might be sued by the client. If God forbid, the verdict goes against you, […]

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What is Commercial Crime Insurance Coverage?

A commercial crime insurance is a policy which offers comprehensive cover and provides protection against employees’ theft and any losses from forgery, computer fraud, etc. In the event of any commercial crime, it becomes the duty of the insurance company to safeguard the policyholder against various losses or damages. Undeniably, you can’t ignore white collar […]

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Who can take the construction all risk policy?

If you are into construction business or has been associated with it in any way, you might have a fair idea of how susceptible your construction site is. A construction site is vulnerable to various kinds of losses or damages which can arise from theft, legal claim, damages and more. As a contractor, it would […]

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How to calculate the premium in construction all risk policy?

In any insurance, the risk is transferred from the insured to the insurer. For undertaking this risk, the insurer charges an amount which is called the premium. This amount is paid periodically by the insured to his insurer. Factors deciding the premium rates: In the constructions all risk insurance policy, the insurers consider the peculiarities […]

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