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HOUSEOWNER INSURANCE (UNDERWRITING CONSIDERATIONS (Claim history,…
HOUSEOWNER INSURANCE
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GENERAL EXEPTION
EXCLUDED PERIL
War, invasion, act of foreign enemy, hostilities
Mutiny,riot,military/popular uprising,inserrection
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EXCLUDED RISKS
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Property by its own fermentation, natural heating/ spontaneous combustion
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INSURED PERILS
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Perils
Fire, Lightening, Thunderbolt, Subterranean Fire
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Bursting/Overflowing of domestic water tanks, apparatus /pipes
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Hurricane , cyclone, Typhoon & windstorm
Earthquake, Volcanic, Eruption
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INTRODUCTION: House owner policy provides additional coverage compared to basic fire policy. Includes loss/damage due to flood/burst pipe/etc
CONCEPT: Insured is the owner of policy that need protection from insurer and the owner must pay premium to get protection.