Property owners might be too afraid to lose their valued offices to the natural and man-made risks which have become quite common nowadays. Recent examples include the estimated financial losses ranging from $3 billion to $15 billion in Chennai during the floods in 2015. Building a property again can cost one a fortune, and this […]
What is Engineering All-Risk Insurance?
Engineering All-Risk Insurance (EAR Insurance) has been made in relation to projects for construction. The policies of the EAR have been designed in such a way that it covers the risk of loss attributable to the installation and erection of plant and steel structures, equipment, and machinery. It also covers the liability of bodily injury […]
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 myriad of losses or damages. In most cases, a commercial property insurance policy offers coverage for standard fire & special perils and burglary. As the cases of burglary in business premises are increasing over […]
What are the Utilities in Fire Insurance?
The purpose of a fire insurance policy is to shield you from various losses or damages which can arise after a fire accident. In this case, if you would have a fire insurance policy, you can approach the fire insurer who would settle your claim and thus, curtail your financial expenses to a great extent. […]
Reinstatement Value Clause in Office Insurance Policy
The reinstatement Value Clause (RVC) defines the terms and conditions of payment of reinstatement claims under property insurance policies. It defines the reinstatement value that will be payable after the loss. And the conditions under which this value may be altered even after the claim has been accepted by the insurer. So, what is the […]
Safeguarding Your Jewellery Store from All Threats?
What happens when your business is to sell the most valuable and precious items that people dream to own all their life? Yes! Here we talk about jewellery stores. These ‘worth-a-billion’ shops are the ones that welcome frequent visitors around the year and are popular during festive and wedding seasons in our country. However, the […]
How is the Art Valued for Art Insurance?
It is important to have an up-to-date valuation of your artwork to ensure you are provided with full coverage in the event of a claim. Factors such as artist, market value, and date become important when art is valued for art insurance. Ways in which different categories of art are valued for Art insurance: Insured’s […]
Six Factors Deciding Property Insurance Premium Rates
If you are looking for commercial property insurance to ensure your business, the following are the factors that can be deployed to decide premium rates: Key Takeaways The Fallacy of Underinsurance: Skimping on policy limits to minimize fixed operational overhead creates critical risk, proving that under-insurance is equal to no insurance during a total catastrophe. […]
Five Major Risks You Should Be Prepared for As a Property Owner
A property, whether it be your home, office, factory or warehouse is one of your most prized possessions. Even minor damage to it can affect your finances a lot. The purpose of all these properties is also something that makes you value them more than anything in your life. While a home protects you and […]
What are the Non-Manufacturing Risks Mentioned in Fire Insurance?
Fire insurance is an important policy that offers financial security in case of any loss or damage due to fire. Misfortunes can strike even when you have taken all the safety regulations. Therefore, it makes complete sense to go with fire insurance and secure your business from the losses or damages due to fire. Key […]