Private Contract
People said that it treasures insurance is a private contract as well as the contract of marriage. Both parties incurred nor the insurer (insurance companies) are not only paying attention to the contract but also character, behavior, and bonafiditas, of each party. In ordinary language is said to be something goods are insured. But the actual insured is the owner of that item. The approval of the insurer is required to move an insurance contract before going on a loss except in the case of life insurance and some health policy. Because life insurance is not a contract, then it can be moved without permission of the insurance company.
In case of loss, then the insurance contract which would be nothing more than a money claim and therefore he can be moved – hand over.
The principle of Indemnity (principle of indemnity)
The contract of insurance of property and liability insurance (liability insurance) in General is a contract of indemnity, i.e. it States will compensate for the loss or damage suffered by the parties to the paid. Replacement lower (undercompensate) is allowed but not higher reimbursement. One of the main problems of the application of the principle of indemnification is how to measure the right compensation in order not to give rise to a profit or loss.
Three important doctrinal principle of indemnity arising from this is: the interests that can be insured, amount of reimbursement restrictions of an insurance policy and Subrogaton. The interests of the insured can be discussed in this chapter. Restrictions on the amount of reimbursement on an insurance contract will in describe in Chapter Eleven. Subrogaton is the right insurer (insurance company) to take over the party claim in liability against those who are responsible for the loss of it. Allow the parties in obtaining reimbursement from the liability of the insurance company and then charge him again from the person responsible for the losses it is contrary to the principle of reparation (principle of indemnity). Suppose one morning, neighbors you hit your car is being parked. If he pays your full losses, then you ask for a company then you should not mention the losses from Medicare or your insurance company.
Conversely, if you ask your insurance company indemnify your based on
your insurance policy, then you should not accept checks that your
neighbors, except for losses that are not replaced by your insurance
company. However, the insurer (insurance company) has the right to
obtain checks that your neighbors for the amount stated in your policy,
and even asked him if the neighbors were not automatically pay it.
