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Which add-on covers are recommended for property insurance?

We suggest policyholders consider subscribing for add-ons available under the fire insurance cover. Below we cover an exhaustive list of add-ons for you to evaluate the relevant ones for your property insurance –   LONG TERM AGREEMENT- Insurers offer premium discounts for longer coverage agreements i.e. for 3-5 year coverage terms.   TEMPORARY REPAIR COST- […]

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What is a contribution clause and how does it apply during claim settlement?

The principle of contribution is implemented when multiple insurance policies are covering the same property or loss, the total payment for actual loss is proportionally divided among all insurance companies during a claim settlement.   The principle of contribution only applies to those insurance contracts which are contracts of indemnity. In fact, however, there would have […]

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Who should buy Property and Casualty Insurance?

Who should buy Property and Casualty Insurance? Business owners who have staff who works in their factories, industrial premises and even offices should have adequate Property and Casualty Insurance. This will protect them against heavy losses in case their property gets damaged and in addition if this causes injuries to their own employees or another […]

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What is covered under art insurance?

Today, works of art are considered a profitable investment. Indeed, they are expensive and constitute a long-term investment. However, their allure also means they can be stolen. Or they might be inadvertently destroyed. Thus, it is important to insure your art. Your art collection may also be of much greater value than you think. That […]

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What is covered under Building Insurance?

The building insurance for the business mainly provides coverages for: Damages to the building and the permanent fixtures in it that can be caused due to earthquakes, lightning, or the leaking tanks and the pipes. Deliberate damage caused by someone with malicious intent externally or by someone who is unlawfully on the property. Loss due […]

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What is not covered under Building Insurance?

Usually, the building insurance for commercial properties does not provide protection for: The contents of the building like office equipment, computers, documents, furniture, and other assets. Any intentional damages caused by your employees or the tenants to whom the office space is let out. Any damages caused by the pets, vermin, or wear and tear. […]

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Minimising the premium on building insurance

Building insurance is a product that offers insurance cover to residential and commercial buildings. Specifically, owners can buy this policy to protect their buildings from risks due to fires or natural disasters, explosions, burglaries, etc. Let’s find how to minimse the premium of building insurance. Tips to lower initial premium on building insurance The premium […]

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Who can purchase building insurance?

For people living in or using a building, natural disasters or fires or burglaries are all real concerns. To protect against such risks, owners of commercial or residential buildings buy building insurance. So who can purchase building insurance? Owners of commercial or residential buildings may fully or partially use these structures themselves or rent them […]

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What has covered under Engineering All Risk Insurance?

What has covered under Engineering All Risk Insurance? Engineering all risk insurance covers a wide range of risks to which a project is exposed, starting right from the ordering of material at the site till successful testing and completion of the project. This plan is very useful for owners, contractors, architects, consulting engineers and investors […]

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