What are the basic principles of property insurance?
There are two major types of insurance that protect your real and personal property, and that of others: propert
insurance.
As several of the principles on which property and liability insurance are based differ from those underlying life ar
that you be aware of these differences so that you can structure your coverage and respond to a claim appropriat
The purpose of property insurance is to protect policyholders against losses to their land
catastrophe and calamity.
and pers
These contracts require policyholders to identify and describe the property that is covered and to specify the caus
which a policyholder will be compensated in the event of loss.
However, instead of protecting against every possible cause of loss, property insurance policies generally restrict
causes of loss and specifically exclude causes that the insurance companies don't wish or can't afford to cover. We
causes of loss that are usually limited or excluded from most homeowner's or automobile insurance policies?