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About the relevance of the designation clause in fire insurance policy?

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 […]

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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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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. […]

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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. […]

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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 […]

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