The main essence of insurance is to make the policyholder or his dependants financially stable even after a loss be it life, health or a property. Policyholders are levied a small fee towards premium which will guarantee that the insurance company will bear the burden of sudden, uncertain loss occurring in future. This principle of insurance becomes more and more relevant when it comes to businesses, assets and properties as it guards against unexpected losses. A Property Insurance will offer coverage for companies, individuals and other related entities against natural and man - made perils. Property Insurance, apart from covering general properties like home, machinery, equipments, stocks, furnitures and fixtures, will also include liability covers.
You can choose what perils to protect your property against or choose a "all - risks" property insurance that will provide a comprehensive cover against a variety of risks. You can select the type of Property Insurance depending on the asset that you are seeking to insure and the peril against which you wish to insure against. For example, if you are choosing to insure your cargo which you are planning to ship to a client, you can opt for marine insurance.
Property Insurance refers to a wide category of general insurance. Here are some of the reasons as to why you should invest in a comprehensive Property Insurance.
Here are some of the common types of property insurance.
Other types of Property Insurance include marine hull, special perils policy etc.
You can opt for burglary insurance policy. Or if you are specifically looking for a comprehensive insurance scheme, you can choose Shopkeeper's Insurance policy which is offered by all leading insurance providers in India.
Yes, under specific criteria, you can consider the baggage to be a "property". You can check if your travel insurance covers for baggage or opt for a baggage insurance policy.
Marine (Hull) insurance covers the damage and losses to a machinery of vessel or the ship.
Under this policy, you can cover furniture, buildings, machinery & equipment, stocks, fixtures & fittings.
Insurance policies like Marine hull, marine cargo, standard fire and special perils policy, burglary insurance and engineering insurance policies offer protection to various classes of properties.
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