Please enable JavaScript.
Coggle requires JavaScript to display documents.
HOME POLICY: HOUSEHOLD POLICY (CONTENTS OF POLICY (loss/ damage to…
HOME POLICY: HOUSEHOLD POLICY
TYPE OF INSURANCE HOME POLICIES
BASIC FIRE POLICY
HOUSEOWNER POLICY
HOUSEHOLDER POLICY
DIVISION OF HOME POLICY
Buildings only policies
contents only policies
buildings and contents insurance together within one policy
combined policy covering buildings and contents, plus a range of optional extensions.
HOUSEHOLD POLICY
package policy, consist of one section and stated in section 2 under home policy
TYPE OF PAYMENT
REPLACEMENT VALUE: covers only the value of your possessions and the value of most items depreciated each year
NEW FOR OLD: covered for the full cost of replacing loss or damage possessions with new possessions
SCOPE OF COVER
CONTENTS: household goods and personal effects of every description
belonging to You or any member of your family normally residing with you
MAIN PERILS COVER (INSURED EVENTS)
example: fire, lightning, thunderbolt, explosion, aircraft, impact with any of the building, bursting, theft but only if accompanied by actual forcible, hurricane, cyclone.
CONTENTS OF POLICY
loss/ damage to contents
property temporarily removed
damage to mirrors
compensation for death of the insured
servant's property
general exception 1 : war, invasion, act of foreign enemy, hostilities, mutiny, riot, any act of terrorist
general exception 2: caused by cessation of work, to property by its own fermentation
general exception 3: not cover consequential loss or damage of any kind except rent insurance
CLAUSE
content of private dwelling . for amount not exceeding 15% of sum insured
MAKE A CLAIM
notice and proof a claim
building plans
liability claim
SETTLEMENT OF CLAIM
insurable interest
no right of claim from any other person
limit to three paying guest only
market value
our maximum liability
average, excess, other insurance