HOUSEOWNER POLICY (UNDERWRITING CONSIDERATIONS (Claim History, Residence…
Residence and Personal Characteristic
the amount of coverage
conditions,material and age of the home
- Insurer's name,Insured's name,address of registered office
iii) Closing Part
-Attestation Clause. Printed Document,schedule that contain of insured detail that get from the proposal form. if all the information correct than need to be signed at this part.
There are three types of protection for building which is Basic Fire Policy(Main).Secondly,Houseowner policy and householder policy as a rider.
1)EXCLUDED PERILS-will not cover loss or damage or other contigency caused directly and indirectly by war,invasionmact of foreign enemy,hostilities,mutiny,riot,military or popular uprising,insurrection,any act of terrorism.
2)EXCLUDED RISKS-cessationof work,property by its own fermentation,natural heating or spontaneous combustion,consequence of or contributed to by nuclear weapons material and ionising radiation.
3)CONSEQUENTIAL LOSS-Insurance company will not cover Consequential loss or damage of any kind except as provided in Section III A which is
HOUSE OWNER'S INSURANCE
SECTION 1- LOSS OR DAMAGE TO THE BUILDING
Private Dwelling House
at the premises and includes: 1)All domestic office,stables 2)garages and outbuildings on the same Premises used solely. Premises:
(not moveable) walls,gates,fences around the premises(additional building)
PDH also refer building or flats and apartments.
Extended Perils(Buildings Only)
Loss or damage by:
hurricane, cyclone, typhoon or windstorm to any building
subsidence or landslip except when this is occasioned by earthquake or volcanic eruption
SECTION II- OTHER CONTINGENCIES
Insurance Company will pay for reasonable additional expenses incurred at a hotel, lodging house or boarding house, as a result of an Insured event, for the period necessary for reinstatement
The total limit of liability shall not exceed 10% of the Total Sum Insured on Buildings and/or Contents
B)Liability to the Public
during the Period of insurance to property or bodily injury to another person, who is not a member of the Family, Household or service:
Liability as owner of the insured Building caused by a defect in the buildings.
Liability as an Occupier in respect of accidents which occur in or about the private dwelling house
Occuring during the period of insurance and resulting in:
Bodily injury to any person not being a member of the Insured's family or household nor at the time of sustaining such injury engaged in the Insured's service.
Damage to property not belonging to or in the charge of or under the control of the Insured or of a member of his family or household or of a person in his service.