Why Do You Need Property Insurance? Property Insurance can help protect insured buildings, contents, stock, equipment, and other eligible assets from financial losses caused by covered risks such as fire, storm, or theft. It transfers a specified, uncertain financial exposure to an insurer – subject always to the policy’s terms, exclusions, limits, and deductibles. Why […]
How to File a Property Insurance Claim – Complete Guide
How Do You File a Property Insurance Claim? To file a Property Insurance claim, report the loss to your insurer promptly, take reasonable steps to prevent further damage, and inform relevant authorities (police, fire department) where applicable. Preserve evidence, submit the claim form with supporting documents, cooperate with the surveyor’s inspection, and review the final […]
Fire & Property Insurance Clauses
What Are Fire & Property Insurance Clauses? Fire and Property Insurance clauses are the specific provisions inside a policy wording that define how coverage actually works – which property the policy covers, how the insurer assesses its value, how insurer and insured share a loss, and how the insurer calculates a claim. They matter because […]
Fire Insurance – The Complete Guide
What Is Fire Insurance? Fire Insurance is a property insurance contract that indemnifies the insured for financial loss to buildings, machinery, stock, and other business or personal assets caused by fire and, under a Standard Fire and Special Perils (SFSP) policy, by 11 additional named perils such as lightning, explosion, storm, and riot damage. What […]
Property Insurance Coverage & Exclusions – Complete Guide
What Does Property Insurance Cover? Property insurance generally covers physical loss or damage to buildings, plant and machinery, stock, and contents caused by insured perils such as fire, lightning, explosion, storm, or burglary – subject to the sum insured, selected extensions, and policy exclusions. Exact coverage always depends on the specific policy wording. Property insurance […]
Types of Property Insurance Policies
What Are the Types of Property Insurance? Property insurance in India is not one product but a family of policies, each built for a specific asset or stage of risk. The core types are Fire/Standard Fire and Special Perils (SFSP) insurance, All-Risk property insurance, Building and Contents insurance, Erection All Risk (EAR), Contractor’s All Risk […]
What is Property Insurance – The Complete Guide
Introduction Property insurance is a contract that protects a building and the assets inside it – machinery, stock, furniture, equipment, or fixtures – against financial loss from events such as fire, burglary, storm damage, or other named perils. In exchange for a premium, the insurer agrees to compensate the policyholder, up to the sum insured, […]
Art Insurance – Complete Guide
Introduction A painting, sculpture, or antique rarely carries a straightforward price tag. Unlike a car or a laptop, a manufacturer doesn’t set its worth – it comes from the artist’s reputation, the object’s history, its condition, and what the market is willing to pay right now. That makes artwork both a rewarding asset and a […]
Is it Mandatory to Take Property Insurance For Home loan?
Yes, property insurance is often a requirement when buying a home loans or mortgage. When you borrow money from a financial institution, such as a bank or mortgage lender, to purchase a property, they want to ensure that their investment is protected. Lenders or banks require borrowers to have home insurance policy or house insurance […]
Difference Between Insurance Policy and Consequential Loss Policy
Overview Difference Between an Insurance Policy and a Consequential Loss Policy An insurance policy typically covers direct losses or damages to physical assets such as buildings, machinery, or inventory. In contrast, a consequential loss policy, also known as a business interruption policy, protects against financial losses arising indirectly due to an insured event — such […]