COMPREHENSIVE POLICY
The term "all risk (all risks)" often appears in the libraries of insurance. Its use is often interchangeable with the term "comprehensive". An all risk policy actually means a policy that closes a certain item against losses caused by all kinds of disasters. Such a policy will not be there because the cost would be too high.
Insurance definitions "Comprehensive" in insurance there are several usage the term comprehensive insurance policy which is closing all 30 in the scope of the contract was, aside from the specifically excluded. For example, comprehensive car insurance policy closing liability arising from the ownership, maintenance, or use of something in the car, otherwise called in exception.
A comprehensive policy is also defined as insurance that closes all the disaster with certain exemptions. The term "Comprehensive" is used by fire insurance companies, particularly car breakdown insurance, whereas the term "all risk" insurance companies used by the sea. These policies recoup property caused by the disaster of anything apart from being excluded.
Comprehensive insurance and market
The benefits of a comprehensive policy is clear. The Parties covered only need to read one policy alone is not limited to half a dozen. The problem of overlapping closure has already solved. Danger the existence of gaps that are not insured (unknown hazard problems) can be removed, at least in the areas covered by that policy. Comprehensive policy shows exemptions (exclusions) and awaken the mind of the buyer will unprotected 30 who did not. He lighten the load of the insurance buyers.
The insurer can sell the closure might be forgotten by the buyer if it
was entrusted to the Agency to convince the party that was borne of the
necessity of buying an individual policy. Consequently, the greater the
number of parties that have borne the full closure and the insurance
company will acquire an increasingly broad risk spreading as well as a
selection of the better.
On the contrary, there is a pattern of difficulties. Most comprehensive policy premium rate is determined by combining the rate each hazard that closed as if to sell separate policies. Sometimes extra charges added to this comprehensive policy. So increase the cost. The trend of wearing single-rating for the comprehensive policy is increasingly growing. An example is the sovereign responsibility of the policy store. This policy makes three different closing, but the overall exposure determined rates based on one factor alone that is based on the vast square meter store.
An other problem facing insurance companies insured parties are urging removal of the closure (coverage) of a comprehensive policy. So it is optimal coverage (optional). Although there may be disappointment on agents and insurance companies in the provision of Comprehensive policy where the parties in choosing not to use it responsibly and yet comprehensive policy need to be made flexible.
Comprehensive policy premiums are usually determined by audit 30 minutes at the end of the period that the poly. The party that incurred will not know exactly how much insurance costs shouldered him before the audit was completed. When the party that incurred no ingredients will be the nature of comprehensive insurance, she may feel burdened cost for 30 minutes that don't wants. This may have severed the relationship.
