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HOUSEHOLD POLICY Section II: Household Policy :house: (Settlement of claim…
HOUSEHOLD POLICY Section II: Household Policy
:house:
Household policies are package policies
combine within a single document,a range of different covers;such as damage to the insured's own property together with legal liability for injury to others or damage to their property.
ConsistofonesectionandstatedinSection2underhomepolicy.
Types of payment
Replacement value
New for old
Scope of cover
Household goods and Personal Effects of every description.
Belonging to insured or any member of your family normally residing with insured
Relates to movable possessions such as furniture and electrical appliances
Covers the financial cost of repairing or replacing your household personal possessions,
General exceptions 1
Mutiny, riot, military or popular uprising, insurrection, rebellion, revolution, military or usurped power,
Any act of terrorism
War, invasion, act of foreign enemy, hostilities, or warlike operations
General exceptions 2
To property by its own fermentation, natural heating or spontaneous combustion
Arising from or in consequence of or contributed to by nuclear weapons material;
Caused by cessation of work, or by confiscation
Arising from or in consequence of or contributed to by ionizing radiations
General exception 3
Not cover Consequential loss or damage of any kind except Rent Insurance.
Clause
Temporary Removal Clause (Content of Private Dwelling)
The property insured under this policy is insured whilst temporarily removed including whilst in transit but remaining in Malaysia or Republic of Singapore or Brune if or amount not exceeding 15% of the sum insured
Settlement of claim
No Right of Claim from Any Other Person
Limit to Three (3) Paying Guest only
Insurable Interest
Market Value
Our Maximum Liability
Average
Excess
Other Insurance
Subrogation
Fraud
Right of Access and Control
Arbitration
Make a claim
Notice and proof of claim
Building Plans
Liability Claims