We suggest policyholders consider subscribing for add-ons available under the property insurance cover. Below we cover an exhaustive list of add-ons for you to evaluate the relevant ones for your property insurance – 1. LONG TERM AGREEMENT- Insurers offer premium discounts for longer coverage agreements i.e. for 3-5 year coverage terms. 2. TEMPORARY […]
Articles Tagged: Property Insurance Policy
Common General Insurance Terms You Should Be Aware Of
Here are some of the commonly used general insurance terms: Insurance: It is a contract between two people (or companies) wherein one of the persons agrees to cover the risk of the former and promises to compensate him in the case of any loss. Proposal: It is the application form for applying for insurance cover. […]
What is the claim process for Property and Casualty Insurance?
The procedure to process a claim for Property and Casualty Insurance starts with the occurrence of any event. However, it may be a car accident or a house on fire, or a security violation. 1. Notify the loss: Firstly, the insured person should notify the loss the insurance company as soon as possible. 2. A […]
What are the Requirements to purchase a Property Insurance Policy?
The person who is willing to take a property insurance policy should have a financial interest (insurable interest). Needs to insure in the asset. So, the person will be at a loss financially if any event causes damage to his asset. Therefore, let’s know more about the requirements to purchase a Property Insurance Policy To […]
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 […]
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 […]
What is Local Authorities Clause in Property Insurance?
The local authorities clause in the property insurance policy covers the loss of business income which applies when the government entity denies access to the covered property. Many catastrophic scenarios led to such actions by the government to protect individuals and businesses from any damage. These catastrophes may include floods, hurricanes, or wildfires amongst the […]
How are assets valued under a property insurance policy?
The purpose of a property insurance policy is to help a policyholder gets a replacement for lost or damaged goods. However, to make extensive use of the policy, it is inevitable to know how are assets valued under a property insurance policy. Let’s look at different ways on the basis of which assets are […]
What You Need to Know About Property Insurance Coverage
Its’ good that you are thinking about buying a property insurance, however, there are some factors that you should consider in order to ensure you choose the right one= Have a clear understanding of the claim process Two insurance companies can promise to give you the same coverage, but they can vastly differ when it […]
Property Insurance: Just Expenditure or a Necessity?
In any case, property insurance is not expenditure but a necessity which you should consider if you want to protect your property from both natural and man-made calamities like flood, storm, theft, burglar, etc. Given that property involves your huge investment, considering a property insurance just expenditure is a mistake. Read more: Five Mistakes That […]