Fire insurance is a contract between a policyholder and the insurance company in which the insurer agrees to compensate the insured in case of loss or damage happens to a particular property due to fire. The premium is also pre-decided and the insurer compensates for the loss up to the insured amount only. Important characteristics […]
What Perils can be Added to a fire insurance policy?
A fire insurance policy plays a crucial role by protecting the policyholder against various losses or damages which may arise due to fire. Along with the perils/expenses which are covered, there are certain coverages available that a policyholder can enjoy at inception or during the tenure of the policy. However, the policyholder would require paying […]
How to file a claim under Fire Insurance?
In the event of a fire accident, it is important to intimate the damage to a surveyor immediately which will help you minimize the loss and to start the procedure of filing a claim. The entire process is mentioned below: Provide a detailed account of all the properties damaged and the estimated amount Provide any […]
What do you mean by material damage in construction all risk insurance?
Construction all-risk insurance policy covers the insured against the loss or damage to the construction site. A contractor can face some significant financial loss in case of such events and hence, having a policy can help him in the smooth functioning of the construction process. Construction all risk insurance policy covers the contractor in the […]
What is the Scope of Fire Insurance Policy?
Fire insurance plays an imperative role by shielding you against various types of losses or damages which may arise due to fire. Moreover, a fire insurance policy can be purchased by both households and business owners. Here we are talking about fire insurance policies available along with office insurance policies for people in business. However, […]
Tips to Buy the Right Fire Insurance Policy
Undeniably, fire insurance plays an imperative role by covering your losses or damages that may arise due to fire. It is strongly recommended to buy a fire insurance policy to cover your business and here are some of the tips which will help you choose the right policy- 1. Buy the right coverage– When it […]
What is not covered under Burglary Insurance bought as a Property Insurance?
It takes years of effort for creating assets, however, one theft or any other loss/damage can cripple you financially. Burglary insurance is the right policy to keep your property safe and gets peace of mind. It covers losses or damages to property due to burglary and housebreaking. Though burglary insurance is meant to offer comprehensive […]
Property Insurance: Just Expenditure or a Necessity?
In any case, property insurance is not an expenditure but a necessity that you should consider if you want to protect your property from both natural and man-made calamities like floods, storms, theft, burglar, etc. Given that property involves a huge investment, considering property insurance just as an expenditure is a mistake. Common sense says […]
What kinds of properties are considered work of art in an art insurance policy?
In an art insurance policy, art and objects which are worth insuring come in various descriptions. They may be boxes, coins, canvasses, or monumental sculptures. It is not necessary for them to be built from precious metals and stones, as they can be made from daily materials like clay, paper, etc. They can be stone, […]
Four Things to Know Before Renting an Office Space
Renting office space seems to be a better option, especially when you are not able to buy it or when you don’t want to purchase it. But choosing just any office space would be a mistake. You need to ensure that your office is one that supports your team and also lets you grow and […]