Property insurance

Property insurance is a policy that provides financial reimbursement to the owner or renter of a structure and its contents in the event of damage or theft. Property insurance can include homeowners insurance, renters insurance, flood insurance and earthquake insurance. Personal property is generally covered by a homeowners or renters policy, unless it is of particularly high value, in which case it can usually be covered by purchasing an addition to the policy called a “rider.” If there’s a claim, the property insurance policy will either reimburse the policyholder for the actual value of the damage or the replacement cost to remedy the damage.

  • Fire
  • Money
  • House holder
  • House owner
  • Electronic Equipment
  • All Risk
  • Burglary
  • Plate Glass

Description

Property insurance covering loss arising from any fortuitous cause except those that are specifically excluded. This is in contrast to named perils coverage, which applies only to loss arising out of causes that are listed as covered.

Fire – Covers damage or loss to a property because of fire and other specified perils.

Money – Money carried by the Insured or the authorized employees / messengers while in transit. Money means and includes cash, bank drafts, currency notes, treasury totes, cheques, postal orders and current postage stamps.

House holder – Form of property insurance designed to protect an individual home or private dwellings against damages caused by perils such as fire, flood or earthquake.

House owner – Covers additional protection to the contents of their home, such as furniture, furnishings, kitchen equipment, television and radio sets, clothing, personal effects and valuables and
also provide coverage for fatal injury to the insured.

Electric Equipment – Cover against physical loss or damage to electrical equipment by any cause other than those specifically excluded by the certificate/policy.

All Risk – Property insurance covering loss arising from any fortuitous cause except those that are specifically excluded. This is in contrast to named perils coverage, which applies only to loss arising out of causes that are listed as covered.

Burglary – Insurance against loss or damage resulting from or following the unlawful breaking and entering of designated premises or places of safekeeping.