INSURANCE POLICY
Insurance policy is a document that contains the contract between parties are covered by their insurance company. It can be either a small piece of paper, a brief agreement did not elaborate. Or it can also be a long document a meticulous three-inch thick, contains the agreement assured the treasure with a variety of interests are spread across parts of the world against a wide range of disasters. However, the insurance policy States the rights and obligations of the parties to the contract was made.
FLOOR PLAN OF THE POLIS
Insurance policies as well as of similar human form. but like everybody, all insurance policies have an anatomical company, the parts that are easy to understand is the Declaration, approval is assured, exceptions, exclusions, and conditions (condition).
The DECLARATION of the
The Declaration contains a description of what is in, people who insure the liability, premiums must be paid for the period covered, the limits or the amount of the insurance policy, and any guarantees (warranties) or promise made by the party who incurred regarding the nature and control of hazards.
Coverage agreement
Here at describe the closure insurance at that. Sometimes in the insuring agreements (approval of coverage) in the meaning of deduce the important terms used in the contract it.
Exception (Exclutions)
Insurance company change approval and broad public coverage for one reason or another. This exclusion is necessary to: 1) facilitates management of the physical and moral hazards, 2) abolish double closure that has been in the fit in other policies, 3) abolish the closure (coverage) which although important for most parties in the responsibility, but not in need of specific policy buyers, by 4) negates the disaster that could not be the responsibility of, and 5) abolish the closure (coverage) certain incapacitated in paced by insurance companies or requiring special premiums and coverage.
This exemption makes the closing price may be at a reasonable level.
The terms (Condition)
Basic rules concerning the transactions specified in this insurance terms (conditions). Here in the specify the responsibilities of the insurer for losses – losses in close by wearing obligations upon the parties in the responsibility for the party and took away (an insurance company). The usual terms in the encounter in an insurance policy is related to the duties and obligations of the parties in the responsibility after the occurrence of a loss, the time limit for the payment of claims, subrogation, company policy, the assignment, cancellation, concealment and deception, as well as the selected resolution.
ENDORSEMENT AND RIDER
Often a standard policy or printed policies need to be changed to match the specific need.
This change in policy does with attach to it a writing, stamps, or mold
that in that part of the insurance contract and is known as endorsement.
Another name of any endorsement is the Rider.
The need for any endorsement and Rider
Polis polis printed standard or be flexible, and flexibility is obtained through the wearing of any endorsement. For example, some types of policy always requires any endorsement for the complete closure of the (coverage). Standard fire insurance policies amounted to complete before the enclosed with the form with the form property in insure it.
