Property insurance contract: concept and importance
At present, it is difficult to imagine the life of society without the institution of insurance. It is he who can more or less effectively protect us from various unforeseen situations and monetary costs caused by them. Everything is insured: life, health, property, professional liability, medical expenses, entrepreneurial risks. Every year the list of objects expands.
Almost every adult citizen entered into this agreement in his life. Whether it is Autocitizen, Casco, Green Card or other. And everyone at least roughly represents what it is. Thus, an insurance contract is defined as an agreement, an agreement between two parties: a specialized organization (insurer) and a natural or legal person (insured). It states that the former will indemnify the latter for certain financial damage upon the occurrence of certain (in most cases unforeseen adverse events) events with the object of this agreement.Significant are the five conditions of the document - it is an object, a list of cases in which the payment is made, the amount of the paid amount, the amount of the contribution and its validity period.
The need for insurance today
Protecting your material interests has long been no longer fashionable, but simply necessary. The property insurance contract (and not even one) should be with everyone who owns real estate and vehicles.All we used to think only about the good. But every day in the news we hear and read that hundreds of traffic accidents occur, crumble and burn houses, livestock perish. Agree that no one expects such events. As a rule, they occur completely unexpectedly and are capable of delivering an irreparable blow to our budget. The insurance contract in this case can be a lifeline. This applies to both individuals and legal entities.
A property insurance contract can be entered into if you want to protect your home, apartment, individual pieces of furniture, appliances or electronic devices (these services are not provided by all organizations), vehicles, pets.The document clearly states the list of events upon the occurrence of which compensation is paid (for example, fires, theft and damage to vehicles, the death of animals).However, if you want to issue a contract of insurance of certain values (for example, precious metals, rare books, works of art), then you will most likely not be able to find an organization that will go for it. The difficulty lies in the increased risk of maintaining such items, as well as in assessing their value.
In other situations, the scheme is very simple. In the event of certain adverse events, you collect the necessary documents and contact your insurance organization. Damage assessment is done there. If the incident has been recognized as an insurance contract, you will be paid compensation within a certain time. That's all. And your wallet does not suffer, and you have the funds to repair or purchase new property.