How many principles of insurance are there?
How many principles of insurance are there?
7 principlesTo ensure the proper functioning of an insurance contract, the insurer and the insured have to uphold the 7 principles of Insurances mentioned below: Utmost Good Faith. Proximate Cause. Insurable Interest.
What are the three main types of property insurance coverage?
There are three types of property insurance coverage: replacement cost, actual cash value, and extended replacement costs.
What is the difference between homeowners insurance and property insurance?
Homeowners insurance covers liability, which you face if a visitor suffers injury or property damage while on your property. Unless you purchase a separate liability policy or add this coverage to your policy with a rider for a separate premium, standard property dwelling insurance does not come with this protection.
