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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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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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Exclusions of motor fleet insurance policy

When you want to insure more than one vehicle, a motor fleet insurance policy is a great choice. It is one policy that provides insurance cover against loss or damage to all your vehicles. However, it is important to remember that your standard motor fleet insurance policy has some limitations. Here we will get to […]

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What is Property Insurance defination?

What is Property Insurance defination? Property insurance as the name suggests provides cover against damage and theft of property to the owner or tenant of the property. It can be used to cover the structure of a building, or the contents kept inside the building by its owner(s) or tenants. This insurance policy will help […]

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What is Property Insurance and How to Buy It ?

Property insurance is an umbrella policy that covers various assets fixed or movable against the risk of damage. Plant, machinery, stock in the warehouse are valuable properties for business and can be vulnerable to many risks. The financial burden of such risks can be reduced with the help of a property insurance. Know about the […]

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What is Co-insurance Clause in Property Insurance?

Co-insurance is an important clause in office insurance policy which is defined as the ‘sharing of risk’ between multiple insurance companies. Usually, one insurance company lead the policy document, and that insurer would be responsible for different aspects of the policy document, including the claim. In such a case, the insurance company will levy a […]

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What is an All-Risk Property Insurance Policy?

An all-risk property insurance policy means that the policy will cover everything, expect the perils which are clearly listed under the exclusion head. It means, if something is not specifically excluded from the all-risk property insurance policy, it would be covered by the insurer. Often known as a comprehensive insurance policy, an all-risk property insurance […]

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What are Some Items Typically Excluded From Property Insurance Policy?

  A property insurance is an umbrella term which comprises of various insurance policies like office insurance, construction all risk policy, engineering all risk policy, factory & warehouse insurance, motor fleet insurance and art insurance, etc. Though, the purpose of a property insurance is to offer complete coverage against various natural and man-made perils like […]

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