What covers specific type of insurance policy?
What Does Specific Insurance Mean? Specific insurance is a type of property insurance in which only one individual property is covered by the policy. Specific insurance is an alternative to blanket coverage, in which a policy can cover many different properties or locations.
What is specific insurance policy?
Specific Policy: This policy paid up to the specific amount the risk is insured. In case of a fire loss, the insurer will pay for the loss that is less that the specific amount or up to the sum insured.
What are the 5 parts of an insurance policy?
Every insurance policy has five parts: declarations, insuring agreements, definitions, exclusions and conditions. Many policies contain a sixth part: endorsements. Use these sections as guideposts in reviewing the policies. Examine each part to identify its key provisions and requirements.
Which of the following would you find in the conditions section of an insurance policy?
Common conditions in a policy include the requirement to file a proof of loss with the company, to protect property after a loss, and to cooperate during the company's investigation or defense of a liability lawsuit.
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