In business, “location” takes a very special place, and so does the actual building that you zero in on as your office. It should not only be aesthetic and aligned to your business requirements, but it should also offer optimal safety standards for your employees and assets. If the unit you plan to set up […]
Property Insurance
What is the relevance of the designation clause in fire insurance?
Designation of property is the most important clause in a fire insurance policy. As per fire insurance policy wordings, designation of property clause is defined as – For the purpose of determining, where necessary, the item under which any property is insured, the insurers agree to accept the designation under which the property has been entered in […]
What options are available for a property owner to arrive at sum insured?
Whenever you are opt-in for property insurance cover, the first information you will have to provide to the insurance company is the value of property to be covered, referred to as sum insured in insurance terms. Many times we have observed that clients are not able to provide accurate value of sum insured for coverage […]
What is a declaration fire insurance policy. What are its advantages?
The declaration policy is designed to give better protection in cases where the stock fluctuates from time to time. Under the declaration fire insurance policy, the insured takes out insurance for the maximum amount. And, which he considers would be at risk during the period of the policy. On a fixed date of every month […]
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 […]
How can you minimize the premium for Engineering All Risk Insurance?
During the erection and installation of machinery, the dangers involved are high that can result in huge losses and damage to property. The risks can cause huge financial losses to the contractor. The policy offers cover at several stages of an engineering project, like Storage, Testing, Handling, and Commissioning at a plant or engineering site. […]
Who can purchase engineering all-risk insurance?
An engineering all-risk (EAR) insurance policy is an ideal purchase for certain businesses. Specifically, such businesses involve some developmental risks that could have devastating financial consequences. For instance, power plants, manufacturing and fabrication set-ups, water and wastewater treatment plants, and telecommunications centers. Engineering all-risk insurance policy offers coverage at several stages of an engineering project. […]
What does not cover under Art Insurance?
Art insurance secures the most precious work created by an artist against financial damage. The coverage is applicable for all of the insured perils or risks. The following risk does not cover in art insurance: Art insurance does not cover loss to the insured article due to the aging of its intrinsic material. Loss to […]
How can you minimize the premium for Factory and Warehouse Insurance?
Quite a few measures can be taken to minimize or reduce the amount of premium payable on Factory and Warehouse insurance policy and policies such as: Additional security measures Automatic fire extinguishers Training your staff to safely operate the machinery or raw material Regularly maintaining your workplace Find an insurer who knows your field well […]
What is Property Insurance Policy?
The property insurance policy is the insurance that protects the physical goods and the equipment of the business or home against any loss from theft, fire, and any other perils. It can be an all-risk coverage policy that gives protection against all the risks. Or can named-risk coverage policy that gives protection against only those […]