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HOUSEOWNER POLICY (UNDERWRITING CONSIDERATION FOR HOUSE -OWNER'S…
HOUSEOWNER POLICY
UNDERWRITING CONSIDERATION FOR HOUSE -OWNER'S INSURANCE
1) Claim History
2) Residence Characteristic
3) Personal Characteristic
4) Occupancy
HOUSE OWNER'S INSURANCE
SECTION I- Loss/ damage to the buildings
BUILDING
Company indemnify insured against loss / damage caused by any mention perils to the buildings of the Private Dwelling House
Private Dwelling House refer to buildings, flats & apartments
When blocks of flats/apartments are insured, Private Dwelling House will refer to the
Private Flats or Private Apartments
Buildings means buildings of a Private Dwelling House at the Premises includes
1) All domestic office, stables 2) garages& buildings on the same Premises used solely in connection to it .
Fixture & fittings
Walls, gates & fences around the Premises
EXTENDED PERILS (Buildings Only) --- Loss/damage by natural disasters
SECTION III- Other contingencies
A) RENT INSURANCE
Insured covered for loss of rent in event your Private Dwelling House stated on Schedule no longer habitable as result of an insured event for the period necessary for reinstatement
As Occupier, insurance company will pay for reasonable additional expenses incurred at a hotel, lodging/ boarding house as result of an insured event for period necessary for reinstatement
Total limit of liability shall not exceed 10% of the Total Sum Insured on Buildings&/ Contents
B) LIABILITY TO THE PUBLIC
Indemnify insured/spouse in respect of accidents /series of accidents arising out of tone Occurrence, during the Period of Insurance to property/ bodily injury to another person who is not member of the Family, Household/service
Liability as owner of insured building caused by a defect in the buildings
Liability as an Occupier in respects of accidents which occur in/about the private dwelling house
GENERAL EXCEPTIONS
GENERAL EXCEPTION 1 (Excluded Perils)
GENERAL EXCEPTION 2 (Excluded Risks)
GENERAL EXCEPTION 3 (Consequential Loss)
INTRODUCTION
Main type of policies to protect home
1) BASIC FIRE POLICY
2) HOUSE OWNER POLICY
3) HOUSEHOLDER POLICY