Co-insurance is an office insurance policy is an important clause, which is defined as the ‘sharing of risk’ between multiple insurance companies. Usually, one insurance company leads the policy document. And the insurer would be responsible for different aspects of the policy document, including the claim. In such a case, the insurance company will levy […]
Articles Tagged: office insurance policy
Type of Warranties under Office Insurance Policy and their significance.
Warranty ‘s meaning in Office Insurance Policy implies an agreement that is there at the time of the policy inception and will be there throughout the policy tenure. There will be no variation in the terms and conditions of the policy without the written consent of the insurer. For the purpose of the warranty, the […]
What happens if you cancel the office insurance in the middle of the year?
An office insurance policy plays a crucial role by offering you financial coverage against various losses or damages that can happen due to perils like fire, theft, burglary, earthquake, riot, etc. It comprises of fire insurance policy that secures against losses arising due to fire. Read More: Importance of Fire Insurance Policy for Home, Office […]
Reinstatement Value Clause in Office Insurance Policy
The reinstatement Value Clause (RVC), defines the terms and conditions of payment of reinstatement claims under property insurance policies. It defines the reinstatement value that will be payable after the loss. And the conditions under which this value may be altered even after the claim has been accepted by the insurer. So, what is Reinstatement […]