CLOSURE RESTRICTIONS IN INSURANCE CONTRACT
A
rich woman who has a lot going around Europe saying that to succeed is
traveling in a foreign country, a vocabulary that needs to be in the
know is just "some?", and "too expensive!" in the language of the
country in that visit. Insurance buyers vocabulary also contained both the phrase above, plus a third, namely "whether the policy will do that?!". as it has been in previous, describe the insurance policy it is a conditional contract. Implementation of the promise of insurance companies that are dependent on the occurrence of certain events. What needs to be in the know by insurance buyers are! "What were the Events in the lid?" and "how much will I earn?". Finally, the parties in the responsibility needs to know how to collect the money.
The main source of information to answer these questions there are in the hands of a party in responsibility insurance policy in itself. However, it is rare that policy owners who read their insurance until contact occurs a loss, and not infrequently, he didn't read it despite already incurred losses. Because of the losses – losses it is rare compared to the number of outstanding policy then it can be said the insurance policy biggest Best seller is a United Nations that is "not read". As a result, the first in terms of the feeling of the responsibility that the party at the insurance company did not close the "everything" occurs if it has been exposed to unpleasant facts to the IE reject his claim. At this time that he would urge his friends that "what is insurance provided to you by the letters big. He returned with small letters "will be more beneficial for all parties (insurance companies, insurance agents, buyers, and even Insurance Commissioner) to read the insurance policy.
Of course there is the border-the border closure insurance policy on all that. Most of these restrictions is the need once and make it easy (convenient) for those in responsibility as well as for the insurance company. If the parties in the presence of the shortcomings of the responsibility before the occurrence of the harm, then he will be on the alert for the reason and can be on guard by taking a combination of the right policies plus a wise arrangement against his affairs.
HOW TO READ AN INSURANCE POLICY
The main purpose of this chapter is to provide procedures that can be used by readers to analyze the closing (coverage) in an insurance policy. The procedure is more important than the specific details of the closure.
To find out the protection given by a single insurance policy, please note the seven aspects of closing IE 1) disaster that in the lid, 2) treasure in the lid, 3) loss to what in the lid, 4) people who are in close .5) location in the close period of time) .6 in the lid, 7) hazards what is exclude.
DETERMINE THE READINGS IN THE LID
Define disaster losses. Common disasters can insure is fire, storm, explosion, disassembly, and theft, negligence, impact, accident, illness, and died prematurely (premature death). An insurance policy will cover one or more disaster. This policy is called a "specified peril contracts = contact certain disaster".
Interpreting disaster
The Act of simply knowing a disaster on the cover and who are not in the lid of the name alone. It is important to know that disaster. For example, what does "fire"? "whether the collision?", "did the accident?", "what is that car?". The meaning of this term according to the term insurance may vary with daily use. The first source of information is the policy itself. Polis car for example give a small dictionary to a group approval is assured. Given the definitions and a number of key words. Instead, the fire insurance policy does not provide such a dictionary. Students will be wasted looking for it in the policy that even the definition of important terms for the "fire" that does not exist. Therefore it needs a look at the article the legislation or court decisions to determine the meaning of the terms that are not defined in the policy itself.
There is a story about a man who bought a box of expensive cigars and insuring against fire. He was sucking on a cigar and then submits a claim to the insurance company the fire was.
Of course destroying the cigars that are totally not wag as that term is used in fire insurance. First, the Court ruled that the word "fire" in the insurance policy is only the APIs that are hostile or unfriendly, which is out of place is meant. Otherwise friendly fire that are in place that are intended as in the stove or ashtray, not the fire.
Restrictions On Disaster
If someone has to know what disasters in their insurance cover and what is the meaning of the disaster that, then he was ready to determine how far that policy to protect them against such disasters. Often, disasters covered only a portion of the course for example, not all fire losses covered by a fire insurance policy, not all abnormalities are enshrined in policy coverage responsibility (liability policy) closure for a specific disaster could be in the limit by stating which part of that are catastrophic in the lid or parts which are not. For example, a fire insurance policy declared part of the disaster that is not on the cover. The standard New York 1943 policy that many in use now, excluding the fire losses caused by an abnormality in the party's responsibility to do a decent efforts in protecting his assets at the time and after that loss or at the time of the coming danger from neighboring areas.
